When you see companies buying other companies
for hundreds of millions or billions and there is no profit center,
there is a REASON for this. A MAIN reason. They buy others because they
have yet to learn how to do it themselves. So they buy at crazy
prices.
Now if they are smart they will at least learn what makes things
tick and be able to create their own entities with the better and more
profitable results. Now WHEN that happens.....and it WILL happen.....it
IS evolution......it is almost guaranteed to happen, then the focus
will SHIFT from buying a site that somebody has already made to buying
that domain name and putting your own idea on it.
The Internet is like figuring out the Rubix Cube. You can struggle with
it for a very long time before you figure it out. But when you DO
figure it out, you can REPEAT the process over and over again AND you
can accelerate the process. DOMAINS are directly on the targeted path.
They MUST stumble over domains once they figure out the Rubix Cube.....I mean figure out the Internet.
Predicting 'When' is what gets everybody in trouble. It is an
evolution. Meaning it is not measured in TIME, it is measured in
MILESTONES. That is why I talk in 3, 5, 10 and 20 year intervals. Study
the history of television, or real estate, of oil wells of the gold
rush. They did not happen overnight in many cases. It was an evolution.
TV is still evolving. It happened in a PERIOD of time. The thing to
focus on is what will occur in our lifetimes. I say this because the
Internet and domains will out live everyone here by many years. Having
a billion dollars at age 90 does not have the same value as a few million at
age 30. The sweet spot of life is what it is all about. My sweet spot
is passing quickly. lol.
Folks ask me all the time how to get in the
domain business today. The answer is like getting on a moving
Merry-Go-Round. You have to TIME it right. Get up to speed. You have to define an ENTRY
POINT. THEN you can assess where you are and where you would like to
go. Then you put your plan into action and don't be afraid to change
course 100% as you learn new things. The point is how you play the game
depends on the MOMENT you get in. No two moments are alike. No two
opportunities are alike. I got on at a POINT IN TIME. Everyone else
gets on at a POINT IN TIME. Depending on that POINT may determine the
direction.
So when folks ask 'Can you get into domains and be successful if
you started TODAY?' The answer is YES, but when they ask ME how to do
it.....I can't tell them. It is a different set of circumstances and I
would have to STUDY the market for several days, weeks or months to create a new formula. But
there is no question there are many successes to have out there. If I
started again today I would still be very successful. I have no idea
the BLACK HOLE I would exploit without doing my homework. But what I do
know is I have a tried and true formula for success when applied to
whatever I need to apply it to the result will be successful. While
others measure time in seconds and hours, I measure in milestones. In progress. In achievements. In evolution. THAT my friends is a KEY
ingredient and so few get that.
Have a GREAT Day!
Joe Davison
Great post, Rick. I think you have hit the nail on the head. The fact is, the domain industry is still in the very early stages. The opportunities are different than they were five years ago, but they are still plentiful.
julien
rick, great post. i love what you’re saying here, thanks for doing this blog.
Domain Name News Portal
This is a breakthrough read for me…thanks Rick!
Once and for all, you have made a major paradigm shift in the way I think about my timing of entry in this industry.
I guess, to be flexible and evolve accordingly with the industry will reap the rewards. Today, it is the fast fish that gobbles up the slow ones, not big versus small anymore.
Thanks, Rick!
Al.
DomainerPro
Thanks for your encouraging and positive thoughts. I believe that you’re right about it not being too late to get in.
domain name newbie
It’s a great insight, thanks Rick. Up until now, I was discouraged by the thought of the domain industry being ‘saturated’ and all hope is lost for a newbie like me. I guess we need to be more creative, thinks out-of-the-box and always be on a lookout for something new.