Morning Folks!!
So let's play a little game today. I am going to list 10 domains. You tell me what price you would sell it for if you owned it and why if you like to expand.
Rick Schwartz
Morning Folks!!
I am always wrong. Just listen to the guys making less money. Working much harder to make less. My formula works whether it is 1995 or 2025. Just like real estate in 1995 0r 2025. But when you play the wrong game and you don't play smart, you make less money and work much harder and are probably stressed out all the time.
I work on CRUISE CONTROL!! You don't!
Cruise Control did not start with me and domains, it started with me and Furniture when I was 20. I had a choice, play in a fast paced industry like clothing that changes about every 2 days or go into something much slower and possibly just as rewarding and maybe more so.
I work on cruise control on everything I do and everything I ever will do.
What does Cruise Control look like?
I am early for every appointment or reservation. I never run late. Why? I PLAN! I plan my time well. I estimate well. I allow for unforeseen glitches. I have lots of time because I manage my time well. I am efficient. But I also wake up at 5AM. My days are 16 hours long whether I am working or not. They are intertwined.
Ever see a sign for luxury condo that says opening in Fall 2018 and it is now Fall 2018 and they are just starting to break ground? That's because of POOR ANTICIPATION!! Poor planning. Poor time management. Poor everything! They think "efficiency" is an apartment.
What I am saying is 90% of domaining has to do with your personal and business HABITS. 90% of any success or failure will resort to that. Maybe even higher. It's more important than the size of your wallet. The size of your brain and how it controls you or you control it.
Success is about Human Nature. Failure is about Human Nature. Human Nature is about habits and reactions. Knee Jerk reactions. Repeating the same mistakes and never learning but arguing more and more ferociously as their frustration and anger builds. How many times do you have to see the same behavior to know their reactions before they even know how they are going to react? That's because they are predictable. That means Poker ain't their calling either. Everyone knows but them!
I approached domains KNOWING it would be 20 YEARS! Domainers today play a bad game. If I played their game, I would be broke and nobody would have ever heard of me. But please keep teaching ME how to make LESS just like YOU! Thanks, but no thanks!!
Those that have understood what I have been saying over the years and employed it have done well. Those that argue, enjoy winning the argument. I don't care. I am on cruise control. Always have been and chance are you never will be. You win.
If you are behind the 8 ball, get in front of it. It's never too late to change a bad habit. Selling too cheap is a HORRIBLE habit. But that is on YOU, not ME. I am simply pointing out the difference. If you can't maintain your portfolio, maybe you need another source of income or a job until you do. Better than pulling your pants down and losing opportunity because you are not on CRUISE CONTROL!
Ask yourself REAL questions. How many domains can you afford to carry? The annual costs are VERY LOW! Cheap! 100 domains is $850/year. $17,000 for 20 years. 1000 domains, $8500/year or $170,000 over 20 years.
There may be an initial investment to get the domain. But again, don't bite off more than you can chew. I started my portfolio with 18 names. That was it! At $100 each.
Stay away from fad domains. Buy domains with meaning that will pass the test of time. Buy an array of different type domains. Never go to heavy on a single key word. Go wide, not deep. None of us are smart enough to know how it all unfolds. So that is why I always went wide. Covered as many sectors as possible.
Meaning is important and more so than length. WeBuyUglyHouses.com. Their billboard and commercials are everywhere. 4 words. Who cares?? It's memorable and marketable.
Are you a mule? Mules sell to other domainers. Mules do the hard work so people like ME can buy from them on the cheap. So are you a domainer (thoroughbred) or a mule?? Unfortunately most are simply mules and mules are not very smart. However the smartest mule will make much more than the dumbest and laziest mule. But why be a mule to begin with? Why work at Denny's when you can get a job at Capitol Grill and make 10x more and have more dignity and live better?
There are many in Real Estate making millions every year. There are many more that make NOTHING!! NEVER make a sale. The difference has NOTHING to do with the real estate or the market. It has to do with the 10 inches between their ears and the habits they bring with them. I would wager that the majority of licensed real estate agents have sold less than 5 properties in their life. Of those, many sold ZERO. Is it the market or is it THEM????? What do you think they say?? DUH!
Rick Schwartz
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