Morning Folks!!
I think it was about 9th grade that we learned about 'Equations' and 'Geometry'. I was always good in basic math. The only class I ever flunked was 'Trigonometry' in my senior year of high school. Lucky for me 'Trig' proved useless in life and not even sure they teach that anymore. That was before electronic handheld calculators were invented and instead of a slide rule, you had to figure it all out. I studied my ass off and the finals came and I froze. It all went bye-bye. Didn't remember a thing. But at 17 I knew this was a buch of useless crap that I would never use and if I di have the need to the answers were quite quickly available even back then.
Geometry comes in handy. I have but one major use. The triangle or Pyramid and figuring out the most important thngs to address in any mission. Identify the top and your chance of success was nearly assured. I discuss this in depth with this post.
That brings me to equations. Could be the most important tool in my toolbox. In math an equation as to be perfect and precise. In business it just has to be close. Equations for me take a split second on virtually any subject. I get the information, weigh it, give things weight and then come to a decision. It can take anywhere from that split second or two to days, weeks and longer. Considering every possibility and attributing the proper weight to it. Some are so heavily one sided that there is no decision. But there are always many that are wrapped up in confusion instead of clearly seeing an equation to determine your next move.
Your next move IS mathematical. The balance is either in your favor or against you. Either way, you MUST know going into something whether you need to give more or less. How much gas to give the throttle based on the equation you have at hand.
I may have lost some of you. But it is clear to me and sometimes much more difficult to articulate a way of approach as I try and explain the equation that is the captain of my ship. Percentages play a huge role in all this and you derive a percentage by doing an equation or just listing all the pros and cons and then forming an equation.
So if you are not familiar with equations it makes it oh so much harder to make the right decisions. Much harder to see how each priority is also vital to getting things right. You can start at the top of a pyramid or the bottm corners. If you start at the bottom, you will likely work way too hard and waste precious time. When your equation points out the top of the pyramid, you are automatically at 33%-50% of the entire journey. When you start in the bottom corners, you are focusing on the 2%-5%. That stuff usually fills in itself when you get the other higher pieces in place. The last row that takes ALL the time when you start THERE, takes NO TIME when you FINISH there. A winning way to proceed vs a losing way to proceed. 100% clear when you understand equations.
Have a GREAT day!
Rick Schwartz
Dave Wrixon
Hmmm! an odd piece from one that despises Excel ???
Rick Schwartz
I don’t despise Excel.
I despise business owners that let their bean counters also be pilots when their job is simply to help navigate not fly the plane. The owner is supposed to be the pilot. Not his accountant and not his attorney and not anyone but himself.
UFO
I’ve used Trig believe it or not, and thats on construction. Try working out the number of tiles on a roof and length of rafters (on an extension being constructed) when all as you know is the roof pitch requirement and the distance the extension is going to be from the house.
Nb: If they used practical examples of trig and other math topics then kids might actually find it interesting.
As for leasing etc, looks like some of the other big domain players are making noises. Got a feeling the next few years are going to see this take off for higher end domains to enable SME’s to take on more valuable names. Its a crime really that so much valuable IP sits around parked, so this should deliver more benefits all round.
I think LTB Option would be the best product – Lease to buy (option). It would get a lot more punters on board for sub 200k domains, and the JV approach for >200k etc.
Rick Schwartz
Lease to buy will be a major piece of what we do.
I would say that element will be in about 50% of the deals.
Some folks believe it is easier to negotiate something with somebody you are already doing business with. So they lease first and negotiate during the term of that lease.
Most deals we do have a”Right of first refusal” if an offer were to come from a third party during the term of a leased domain. The lessee would have the right to match or increase the offer in a specific amount of time.
UFO
Fortunately you also have example cases to call upon to show other entities how this could work for them. A track record will help immesurably by showing how the synergistic effect of adding a high quality domain onto an SME can help grow their business.
Because domains are so unique there really has to be some form of cross party alliance across the industry because in theory most ‘buyers’ are aligned to defined names and can’t be poached by other members of the group. Obviously if you’re trying to structure a deal then they could poach your client although the game is too small to get away with sharp practices.
I’m sure even Google realises that its advertising model is underthreat thats why its moving to what I’ve always considered what should be done and thats give some SE lift to those using its google checkout process (On commercial searches). Thats the real cost per action, and which the likes of paypal etc have no comeback on. I’m still amazed they haven’t done more with youtube (Buy stuff thats aligned to all those music videos)… anyway, thats another story.
Acro
Math and geometry are both used in various aspects of life. While one might not need to calculate angles in an isosceles triangle daily, geometry keeps us in focus with the hidden balance and harmony in things, much like mathematics. Some great tools available today come in the form of data visualization; by converting numbers into representations we can comprehend (such as, infographics) we’re able to make solid business decisions with plenty of foresight. Happy new year and best wishes for more success in the years to come! :-)
steve
I read your posts from bottom to top. Don’t ask me why it reads better that way. Maybe I have evolved into a far superior life form