Morning Folks!!
Let's get DEEP in it today. Let's get in the weeds. Let's get to the costly numbers. Let's stop closing our eyes to reality because it does not dovetail well with the business of business. The truth is gonna hurt and some will lash out. But they never lash out with FACTS. They only lash out with emotion. Danny is about to piss you off big time!
GoDaddy flying high
with BusinessJet.co
By Danny Welsh
Gosh almighty, Godaddy...you mean all I have to do is have one great idea and
pay a few bucks to have it protectable FIRST and I'll be the one 20 years later
rich and laughing in my BusinessJet.com?
Sweet! Let me hop in my handy dandy
time machine so I can compete with the 500 who really WERE there first,
staking their claim on 24k gold before anyone had even thought of covering lead
in gold plating to sell for the same price, and are now increasingly traveling
around IN that private jet TODAY.
Translation: If you own the best .com domain names such as those available
for hand registration in 1993, Godaddy running their .co commercial will make
you richer in 2013 without you doing a damn thing. Of course they'll make
their own money, and God love ‘em for selling as many .co's as they can until
folks realize the flux capacitor is broken and there ain't no time machine.
That's capitalism and in the capitalist system anything can be sold.
There are probably
more employees at Godaddy right now pulling down a weekly paycheck than there
were guys like Rick Schwartz in the entire world 20 years ago.
And those folks at registrar companies have families and I wish them well. Most
who work at them are fine people, and I have several saved in my cell phone by
name that I'd give an opportunity to in a heartbeat if they asked.
But the majority of
employees who work at a domain registrar simply do NOT know the difference
between YourBigIdea.com and YourBigIdea.co when there is a WORLD OF DIFFERENCE.
And so we’ll have the blind leading the blind with the sales
of .co and 1800 other www.left.right
changed domain extensions increasingly pushed by folks who are simply doing
their job and happy to clock out and get back to real life…EXCEPT that there is evidence RIGHT IN FRONT OF YOUR EYES that
Godaddy’s EXECUTIVE MANAGEMENT knows they’d be LOSING MONEY to advertise
YourBigIdea.co as their “branding” without first having secured YourBigIdea.com
to protect them.
Fact is, registrars can sell .whatever domains all day long
and make money.
You may not have
realized it, but the GoDaddy’s and Google’s of the world are gearing up to GIVE
AWAY DOMAIN NAMES all day long and they will make money on the hundred
products they want to sell that small business customer from email to hosting
to website templates and so much more.
And their pitch will be like a siren song. I just won't be
betting MY family's future on any old WHATEVER gamble that’s not proven to add
value and INCOME to a BUSINESS.
Simply put: Any businessman or woman in
2013 seeking a domain name for their business and their great idea to have a
chance to become a great business can now easily find FACTS having been
reported in mainstream business publications, that .com will remain the gold
standard among all domain name extensions...and that realization is a big
part of what’s going to make generic .com’s available only to use for highest
and best use ideas among companies that seek to WIN...not just to play not to
lose...
To believe that making your business’s home on a website.co
domain name will “save you money” is simply hope and wishes and lollipops when
'the 500' have math and human nature and facts that say different.
When we have MATH that says
up to 61% of PRODUCT.co's traffic or BRAND.co’s traffic can go to the same
PRODUCT.com or BRAND.com. If PRODUCT.com is owned by a competitor and you go
forward with PRODUCT.CRAP anyway then you’re a fool or you have a HOBBY and not
a business. If it’s owned but not being used for a “real” business at this time
then you’re setting up a FUTURE BUSINESS to be able to siphon off your
customers one by one at will.
(and don’t try to
hide it)
Is it the 123 Main STREET retail store owner’s FAULT that when a future
retail store opens at 123 Main AVENUE
and spends money advertising, folks ready to buy now show up at his
competitor’s store confused every day when they can’t find it?
When we have observations on HUMAN
NATURE that says if you want to create a successful business on a
PRODUCT.co commodity, you will have a silent PRODUCT.com partner earning money
daily with that asset from the sweat of your brow and you don't get a damn
thing in exchange for it.
(and don’t try to
hide it)
When we have FACTS that say
one is speculative gamble and another is an earning asset.
(and don’t try to
hide it)
Don't blame the guy whose $100 bet became an investment worth
millions 20 years later. EVERY .com domain name that is undeveloped IS
available to be developed. You just have to make the owner and offer he/she
can’t refuse.
As the Godfather would
say, 'just let me wet my beak.'
If you want a dot com asset, you better be prepared to pay asset prices or give
up some income from your company as you grow. If you want a commodity, you're
soon going to be able to buy 1800 www.domain.imitations as more extensions roll
out.
There are no losers when you have your great idea and you put resources behind
bringing that great idea into the world as a great business, and even the end
user who makes the WRONG choice to build a business using .co or any other
alternative extension IDEA instead of the .com IDEA that is proven…theyt can
still make sales, make money and win. If you do your due diligence on this
question, you’ll realize just what I did….
It will be an uphill battle trying to build something
magnificent on a foundation of SAND. And
for what? For whom!?
To save a some
money? That’s short-term thinking when facts show the greater you
succeed, the more money you will LOSE if you get this part of the online
business equation wrong.
To save face at a
stockholder's meeting? LOL, ask the hotel chains how that worked out
for Hotels.com when they had a chance to buy it and snubbed their nose at
OWNING THE LAND CHEAP less than they now pay MORE per month to RENT ADVERTISING
SPACE on the side of the skyscraper erected on that land. Ask them now what
they think of Hotels.com and the opportunity they muissed forever, what chance
in HELL they have to ever own Hotels.com short of BILLIONS now that the great
domain name has been married to a great BUSINESS.
In business there are bets and their are investments.
With sales of .whatever registrations for a domain to use in
a business…GoDaddy (and Google to come) is selling bets that MAY 20 years down
the road or more have investment grade value in the market.
And many domain name speculators will buy them hoping
they’ll pay off like a lottery ticket. But we doubt that will ever happen and there isn’t a .co domain in the world I’d
spend my money on advertising as part of my business strategy if you gave it to
me for free...
I’ll leave this post today with how I started it.
Gosh
almighty, Godaddy...you mean all I have to do is have one great idea and pay a
few bucks to have it protectable FIRST and I'll be the one 20 years later rich
and laughing in my BusinessJet.com?
There are 500 laughing in the chair on that private jet
because they got there first and had your great idea 20 years ago. Right now
the world sees them as somehow having done something wrong. They were smart, worked hard, took risks,
and got a little lucky. They are visionaries, and history will bear that
fact out as the 21st century continues to unfold. Don’t revile them.
Just let them help you make more money and give them a fair share.
Or trust your future to Google and a made-up domain.crap
while domain.com gold lies unused.
Do you have 20
years to wait while you hope BusinessJet.co will ever get off the ground
without sending 61 cents of every dollar you spend on advertising to enrich a
competitor that owns BusinessJet.com?
I didn’t.
I’m too busy flying first class, having made a possible
future competitor my ally, and a possible obstacle among my greatest
advantages, and a branding tool that was sitting unexploited my immediate edge
over bigger companies with more resources than my start-up.
If you’re looking at GENERIC.com vs GENERIC.co you have the
same choice.
Don’t say years down the road no one told you so.
Danny Welsh
JointVentures.co
JointVentures.com
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