Morning Folks!!
When you are an early adapter, it's not a surprise to be early on the exit as well. That means you move on from Technology and Fads earlier than those that show up late.
As a group we were among the first to use social media. We will also be among the first to move on. That's what early adapters do. They adapt before the masses. They move on before the masses.
Another one is the amount of time we spend online as early adapters. But that also means we will be the first to spend less time online. And that is already happening. Do online companies understand this dynamic?
It took more than 50 years for folks to adapt to driving a car. But I bet the early adapters were also first to use a Taxi.
And early never means you have to be the first. I have even come into industries last and was able to make my way and make my mark. Entry point is important, but don't focus on it.
I don't think I have ever been first. But I have always been in the first 5%-10% and that works.
But to be an early adapter you have to have an open mind to things you might not want to open up to and you have to differentiate between fads and true opportunities. In my experience it takes some time and thought to adapt. Adaption accelerates with knowledge and success. And part of that knowledge is knowing the things that are not adaptable. They may not even make it to fad status!
People did not adapt to "New Coke". It was a product failure but a huge company success as Coca-Cola got more shelf space at stores and squeezed some of the competition right off the shelf. They never relinquished that space. So you even have to be adaptable when you fail. Failure is a step closer to adaptation.
Since you have early adapters, you also have LATE adapters. Case in point, Domains and Bitcoin. If you were an early adapter of bitcoin you may have done very well. If you are a late adapter, chances are you blew your brains out and bought at $19,000.
Late adapters of domains ended up chasing all types of shiny objects and the vast majority blew their brains out too. Even some early adapters of both did not have a strong belief in what they were doing and sold way too soon and blew their brains out like that.
Why do people adapt to begin with? We get back to my favorite saying: Need, Want, Desire, Value. In other words there is something in it for THEM. To make their life easier or more efficient or other great benefit. That's why GTLD's fall short. It's an example of a Fad without consumers and few end users.
A fad is when something gets hot. When the fad is over, they get dropped like hot potato's and without notice. Early adapters are also keen to spot fads that die. Fads that have a short lifespan if one at all vs those fads with staying power that become staples. I love staples!
Adaptation's sister is rejection. We adapt or we reject. We recognize something life changing or we don't. I hope as long as I live my gift of adaptation and rejection stays strong and true. I simply look for the intersections of the future and seize them. What's the next thing to adapt to? Stay tuned. Jumping on the fad bandwagon does not make you an early adapter. It usually makes you broke.
Have a GREAT Day!
Rick Schwartz
Mark Thorpe
Most people do not get in on the ground floor of an Investment. But if you can get in early and get out when everyone else is piling in (Bitcoin), then you are doing things right.
Prime example is .App, the nTLD will make some domain Investors money, Instead of the registeries.
Most .App premiums were priced with Investors in mind IMO. Most other nTLD’s were not, some had end-user premium pricing and still do.
Jose
467/5000
Adapting to the new cryptocurrencys has not been difficult and you still find many free domains, it’s different with the app.
When I read that app until May 8, normal price in a news blog I see that Chinese investors have bought many of a single letter, then adapt to wait for you to write, in your entries of each blog write all the same.
For a post with writing like yours, the others are repeated.
Happy day.
Jose.
Jose
I just received an email response from my domains that I posted yesterday on https://domainagents.com and I receive this.
To be perfectly honest. I do not think any of these domains are worth anything. I would drop these and focus on buying better domains so that you do not put more time into somewhere that there is not real opportunity.
I do not answer because I give it for useless and I have to adapt to these answers.
Good Weekend.
Anunt
And sometimes you just have to be patient with your investment and not exit.
I wish i kept my Apple stock.
I wish i kept my bitcoin.
I wish i kept my domain names.
I sold too early.