Believe in Yourself

Australian Prime Minister - Scott Morrison

Embarrassingly, as many readers are aware, Australia has gone through seven prime ministers in the last ten years. The latest PM, Scott Morrison, only assumed the job eight months ago and across the last weekend the nation went to the polls to decide what to do with him.

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I must admit that I love elections and I can’t help myself as I’m glued to the television for the evening as the fate of the nation unfolds. Democracy is an amazing process and sadly, I think I've bored all my family and friends on my love for the topic over the years. Democracy is when an entire nation sits on a knife edge as the people determine who has the right to lead them….it’s incredible!

What happened to Mr. Morrison? He won, and in my opinion, there was a very good reason why the people of Australia voted for him. All the opinion polls were against him but he won anyway….why was that?

In the post-election interviews a common theme emerged from the newly elected members of parliament. They shared about how Scott Morrison had an unshakable belief in himself. Despite all of the reasons to think otherwise, the newly endorsed Australian prime minister knew exactly how and what he had to communicate with the Australian people. He didn’t waver in his message and he was constant in its application.

Rather than oscillating on whether he should change based upon the latest opinion poll he maintained a personal conviction and message throughout the campaign. Clearly this resonated with voters as they voted him back into office.

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Why I was Wrong About Domain Sales

I need to apologise to readers….I just received some data from Escrow.com that proves that I was completely wrong about the size of the domain sales market. Back in August 2017 I estimated the market to be around $250m and what the latest Escrow data proves is that I was wrong…..by a long shot.

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According to the report, Escrow.com alone sold around $340m (all quoted values are in $USD) in domains in the last 12 months. By far the biggest market was the USA which did just over $60m in the first quarter of 2019 with Canada coming up a distant second with around $8m in sales.

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mgilmour
I completely agree with you on this point. What is also important is what is the profitability of building a site.....even it is s... Read More
20 May 2019
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Why You See the Advertising You do

Are you being targeted?

Understanding how targeted advertising works is a critical part of how domain traffic is monetised. In this article I’m going to attempt to unpack online advertising and to help shed some light in what has changed over the years.

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Back in about 2002, when I first started investing in domains, I made sure that every one of my domains had an appropriate keyword attached to it. I had an underlying assumption that keywords influenced the advertising results and ultimately user behaviour via the click-through-rate (CTR). This approach seemed quite logical and I spent hours researching each domain and setting an appropriate keyword.

I remember attending a conference and hypothesized with the Google domain team that just because you owned pizza.com doesn’t mean the advertising should be about pizzas. I suggested that with an appropriate amount of research I discovered the advertising should be about raising a loan to start a pizza shop.

This was a hypothetical situation (I didn’t own pizza.com) but it did illustrate the importance of researching domains. What I didn’t realise at the time was that I was actually crossing the boundary between context sensitive advertising (ie. domain content) and psychographic targeting (ie. the user).

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Wolftalker
Thanks M.
14 May 2019
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Saturday Musings – There’s No Such Thing as Freedom of Speech

Freedom of speech sounds wonderful but many of us need to have a reality check and realise that it has never existed, it doesn’t exist and will never exist into the future. At this point you may be getting a little miffed with me for such an audacious claim, after all, “Who has the right to tell you what you can say?” Well…..me actually….to be fair, not just me but us.

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As soon as we decide to become a part of a society, we give up many of our rights and the first of these is our “freedom of speech”. Social norms will either chastise you until you submit to good and proper conduct or in the more extreme examples the law will come to bear to assist you in modifying your behaviour.

That being said, I’m actually a strong advocate that society needs to become more tolerant to those people that say completely outlandish things. By tolerance, I don’t mean accept what they are saying but rather allowing them to say it.

For instance, I’m completely against neo-Nazi fascism but I will defend their right to express their views as long as it is in a non-violent manner. Why is this? Every time I hear a neo-Nazi in the news express their outrageous views it reinforces my own perspective to distance myself from their propaganda.

Likewise, I respect a person’s right to express their views on matters such as sexuality. Just because I defend their right to share their opinion does not necessarily mean I agree with their position.

I see there are three problems that have emerged around “freedom of speech”:
1.    Censorship
2.    Lack of considered debate
3.    Who decides what is acceptable?

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vanclute
Ahhh but there *is* such a thing as "freedom of speech". It's just that most people don't understand what it actually means. All... Read More
04 May 2019
mgilmour
Yes, you are right in saying that freedom of speech is freedom from prosecution.....but this has now changed. The patriot act (and... Read More
04 May 2019
mgilmour
Great truths in what you say Rob....many thanks for your contribution.
04 May 2019
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Why Plans are Vital to Your Success

Today my wife has a big smile on her face because we're having our old kitchen ripped out and a new kitchen installed. Needless to say, the house is a bit of a disaster but the contractors that are doing the whole process know exactly what to do and in what order.

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Having a plans is often viewed as unnecessary or something you put in the bottom of the drawer, but nothing could be further from the truth. I know that I feel a lot more comfortable knowing that the stone bench top is being put in after our new cupboards are in place.

If you can’t articulate what you’re trying to achieve in your own business in a structured plan, then it’s likely you won’t become a success. Many people have great ideas but very few have the ability to write them down and even fewer people can execute them.

About ten years ago, I was traveling on one of my around the world trips and dropped into Fort Lauderdale to catch-up with some friends. While I was there, I met with a couple of people that were looking to get some investment dollars into what I thought would be a potentially great business.

I asked them for their business plan and was met by a blank stare. I then asked for a forward projecting cashflow and the response was the same. In a bit of frustration I then asked to see their past financials and likewise these weren’t available…..oh dear.

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