Part 1 - Building a Business - Moving From the Idea

Part 1 - Building a Business - Moving From the Idea

So you’re having a shower (where all truly great ideas come from) and it suddenly hits you like a blinding light from heaven…..the most incredibly brilliant business idea to build out a domain you’ve ever had! There’s just one problem, what’s next?

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So many great ideas remain just that, a great idea and nothing more. Just today I was approached by a domainer to purchase a domain name and as a part of their pitch they told me that it would be fantastic as a particularly type of business. Based upon this “idea” they believed the price of the domain was justifiably inflated.

My immediate thought was to ponder, if it was such a great idea why didn’t they build the domain into a business themselves? Let’s face it, they were trying to price the domain based upon all the work that I would do to create a profitable business. That just doesn’t work for me….

A domain has value but don’t fall into the mistake of pricing in, not just the value of your domain but also the value of a mythical business that the buyer would have to create on it. Many domain owners make this mistake and wonder why they don’t sell any of their inventory.

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2017 - The Year of Innovation

2017 - The Year of Innovation

If I was to describe this year in one word it would have to be “innovation”. For a long time, the domain industry has been doing the “same old same old” with a tweak here and a tweak there but I believe this year is going to see some massive changes.

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For the last fifteen years, the domain industry has been caught in a malaise where landing pages look the same, domain market places are basically the identical to what they were and development has migrated up the content management systems version numbers. All a bit of a yawn.

While I was at NamesCon I perceived a growing sense of frustration and tension building in the air from people who wanted more for their domains. It was almost palpable. When there is a growing demand from the market then I’m a firm believer that innovative companies and individuals will seek to fulfil it.

I took a few days’ vacation immediately after NamesCon and one of the things I love to do is read. I picked up Elon Musk’s biography (Tesla, SpaceX, SolarCity and Paypal fame) and was stunned by the similarities between the markets he has entered and the domain industry.

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NamesCon Wrap-up

NamesCon Wrap-up

I’m writing this while I sit in a coffee shop at McCarran Airport in Vegas with my family. After the last few days at NamesCon the coffee I’m sipping feels so good and in my near stupor I find myself pondering why it doesn’t come in syringes.

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Like many of you, I found NamesCon a trial of endurance with four days of back to back 30 minute meetings followed by a brief respite with my pillow each night. And this is why it was such a great event.

I’ve never conducted so much business, secured so many agreements and made so many new contacts. NamesCon was where 1400 plus Internet entrepreneurs gathered together from all over the world to do business and not just have a talk fest.

It was great having my family with me on this trip and I want to thank everyone for making them feel so welcome. They loved NamesCon because they didn’t feel like outsiders thanks to your smiles and warm conversation. Sarah and Elise, also had a chance to see their Dad in action in meetings and at a couple of presentations…..which was pretty cool!

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NamesCon - The Gilmour Family Are On Their Way!

NamesCon - The Gilmour Family Are On Their Way!

As per normal, I’ve arrived at the Qantas Club in Melbourne, Australia, grabbed a coffee and now I find myself sitting down to write my regular “I’m On My Way” to a conference blog. The big difference this time is nothing’s normal, I’m not alone…..Roselyn and our two daughters are with me.

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For those of you that do a lot of business travel you’ll understand that you have developed certain habits that create a bubble of calm around you as you make your way through an airport. From the moment we stepped out of the car I knew that my bubble had been well and truly shattered.

For a start, I tend to speed through the airport, weaving my way between the elderly gentlemen on the left while slipping around the family with screaming kids on the right. My family, enraptured with the joys of taking in the airport walked at the same speed of everyone else…..let me assure you, this was a relatively new experience for me.

I’ve managed to convince my family to only travel with carry-on luggage (thank goodness) but you’d be amazed how much a young lady can pack into a case. One of the bags was “substantially” over the weight limit and it took a little bit of extra smiling and joking with the Qantas staff to let us take it on as check-on……so all was good. But for heavens sake.....did she pack lead in that bag????

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NamesCon 2017 - Not Long Too Go!

NamesCon 2017 - Not Long Too Go!

Vegas will come alive with NamesCon in just over a week! People will be flying from all over the world to get further educated about domains, conduct business and make new friends. I will be arriving on Friday 20th and I’m really looking forward to the swathe of meetings and sessions that I already have lined up.

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The first of my sessions is for registrars and registries and I will be sharing about some new technology that we’ve developed that will enable these two types of organisations earn additional revenue. It's going to a practical session that will unpack a number of great opportunities.

Date: Monday 23rd, 11am
Room: WP Engine Room

If you represent either a registrar or registry then it would be great to see you there as I’m sure it will well worth your time. If you have a clash in your schedule then please reach out to me either here or via the NamesCon app so we can meet one-on-one.

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