Michael Gilmour has been in business for over 32 years and has both a BSC in Electronics and Computer Science and an MBA. He was the former vice-chairman of the Internet Industry Association in Australia and is in demand as a speaker at Internet conferences the world over. He has also recently published his first science fiction book, Battleframe.

Michael is passionate about working with online entrepreneurs to help them navigate their new ventures around the many pitfalls that all businesses face. Due to demands on his time, Michael may be contacted by clicking here for limited consulting assignments.

Stop Crying and Make Money

Stop Crying and Make Money

Sorry if this is a little bit of tough love but seriously…..it’s probably the best advice some of you could ever get.

I’m always amazed at the number of domain owners that get incredibly emotional about their domains and make economically irrational decisions. I hate to say this but domains are not your children, they don’t care if you sell them, you can monetise them anywhere and more than that they don’t care what price you sell them for.

Let’s unpack one level of thinking that is surprising……“I’m going to place all my domains with parking company X because the salesperson is my friend.”

For a start, my experience at ParkLogic has shown that no parking company wins more than 25% of the traffic at any point in time. This means that if you place ALL of your domains with a single company you are losing AT LEAST 75% of the time! This is a fact and one that has years and years of data behind it.

It’s great making friends with your account manager but I hate to burst the bubble, that person gets paid for the traffic that you bring them. The question you have to ask yourself is, “If I moved all my traffic away from them would they still want to hang out?” The last time I checked, I didn’t have to pay to have a friend so the answer should be yes.

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Cutting the Grass

Cutting the Grass

A few minutes ago the doorbell sounded and upon answering it I discovered our friendly lawn mower man smiling back at me. In my opinion his dark sun tanned wrinkled face had seen altogether too much of the Australian sun but that was his job and he loved it.

During the few minutes of idle banter I remembered that we had a now thoroughly dead Christmas tree down the side of the house that needed removal. I asked him if he’d take it away and he quickly replied, “Not a problem but there is a disposal fee of $10.”

I know that the local council will charge something but it’s nothing like $10. Despite this I quickly replied, “Not a problem!”

So why did I do it? The value in not having my wife Roselyn ask me to remove the tree was worth more to me than the $10. For that matter he probably could have asked for $15-$20 and I would have agreed! My problem would have been at that price Roselyn would have made me do the tip run the following year with the pine needles from the dead tree filling up my sports car. She pays the bills in our family and there’s nothing getting past her.

From our mower man’s perspective he normally gets $35 per cut so he’s just dramatically increased his take from his client. It works out really well for him, for me and that’s what business is all about.

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Writing a novel

Writing a novel

Since May last year I've been writing my first science fiction novel and releasing it by episodes on FireFallTribes.com.  When I first started writing I just bashed out the episodes to get the done quickly so that I could get on with business and real life......and then a strange thing happened.

I found myself getting more and more wrapped up in the story, the characters and the various settings. It was engrossing! I wanted to find out what was going to happen next and the only way to do it was to write the next chapter. So just on 80,000 words later I found that I had the first draft of my novel.

What has surprised me is that nearly 2,000 people have been enjoying the journey and providing valuable feedback as they've read each episode. It's been really humbling to get some of the feedback as readers have shared some of their thoughts on the highs and lows as the story unfolded.

So I'm nearly at the end of the first rewrite now. Only about 40 pages to go....which is great! The big test will come when my wife Roselyn reads the manuscript (she really doesn't like scifi) and checks the grammar and continuity of the storyline. From there it will go to a professional editor and then onto getting self-published as an ebook.

It's the first book in a series and I've already mapped out book two....so stay tuned!

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Saturday Musings - What's your passion?

Saturday Musings - What's your passion?

It’s an interesting question but it’s one that I ask my kids all of the time. My daughter recently graduated from high school and has now enrolled in university….yes, I’m a VERY proud father. In discussions with her she kept on talking about what job would pay the most so that at the end of uni she would earn a packet! I kept on saying, “Sarah, do what you enjoy and the money will come.”

So the question I ask you is, “What’s your passion?”

One of the biggest challenges that I find that I face in the domain industry is that there are so many opportunities and great ideas that it’s easy to forget what you actually really like doing. Although earning money is an important part of life it’s only just a part not the whole.

I love the domain industry and domains but I don’t try and do everything with every one of the domains in my own portfolio. To be quite honest with you there are only a few of them that I actually get excited about…..and they are the once that I slowly develop. The rest of them I let ParkLogic take care of and I rarely spend any time worrying about them.

I had a conversation with a domain investor the other day who was really good at finding great traffic domains but really bad at managing them. He loved the sleuthing around and building systems for finding the gold in all of the dirt but hated actually managing them afterwards. To cut a long conversation short…..we now manage his portfolio and he goes and finds the domains. He loves it and his life has improved dramatically!

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2014 - The Year Ahead

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