The Rick Schwartz Domain Name and Traffic Blog: RicksBlog.com – Home of The Domain King®

Morning folks!!

I have said for many years it was okay to overpay for a great domain name. You should want to overpay!

See, by definition, if you win an auction, you over paid. You over paid the market. You out bid the market. You were willing to pay more than anyone else. And my friends, that is a GOOD thing. You are buying the future not the past. Think about that.

And it is better to overpay in a market than underpay where there is no market. But if you do choose to underpay, then just prepare to be patient and wait.

The single greatest validation of value is traffic. Not the amount of traffic, just ANY traffic. 7 billion people and it you think differently than those 7 billion while picking domain names, you may find yourself stranded in space. How many days do you think could go by without one single person out of 7 BILLION not thinking like you? 1 day? 10? 100? 365?

A domain with no traffic can still have great value. But if you are not making ends meet, start with type ins. They are still being born every single day of the week if you are aware. And FIRST to think of it! But if not, then overpay for domains that have value until you hone your skill. To this day, I overpay. Not because I want to, but because this is all time sensitive and being cute is the best way to lose a great domain. You don't always have to bargain. Sometimes better to just pay the asking price.

Rick Schwartz

Morning folks,

So this is how I can balance things out that helps everyone the most. This isn't written in stone yet but by the end of today, it might be.

This is what we are planning.

The early bird will now have a price of $1495. However that included 3 nights at the Bellagio less tax, fees and personal expenses.

So if you sign up next week, your ticket AND hotel room cost you less than if you wait a few months as you will see below. However we have to limit this to 50 tickets at this level or October 31, which ever happens first.

The next cutoff is on December 31st and the $1495 price remains the same but you only get 2 nights at the Bellagio. We have 50 tickets at this level.

The next cutoff would be February 28th. The $1495 price remains the same but you only get 1 night at the Bellagio. We have 50 tickets at this level.

The next cutoff would be March 31st. The $1495 price increases to $1595 the same but you still get 1 room night credit. We have 100 tickets at this level.

The next cutoff would be April 30th and the price goes to $1695.  But you still get 1 room night credit. We have 100 tickets at this level.

Tickets sold from May 1 would be $1695. No hotel room included but you do get our $175 group rate.

So we do what we can to tackle the issues I described in yesterday's post. The result is lower ticket prices and better values for a longer period. Plan early and save!!

Rick Schwartz

Afternoon Folks!!

After 25 shows I can tell you it is no easy feat to make ends meet when you put on a show like TRAFFIC.

The moment we sign a contract for TRAFFIC we are on the hook for hundreds of thousands of dollars. Matter of fact, right now, we have well over $1 million in commitments with the contracts already signed and in place and thru 2015.

Hotels care about only 2 things. How many rooms you will occupy and how much food and beverage will you consume. Howard and I care about having a great show which means you folks had a successful show and your time was well spent. And not losing our shirts. Both pretty risky but worth the risk and so we do it.

I have different levels of pricing for several reasons. But all in an effort to make ends meet. To motivate folks by different price points. We have an early bird discount. But to be honest, we could not put the show on if everyone paid the early bird price and do it the right way. Sure we can skimp. But that was tried when we licensed out TRAFFIC and it did not work.

Most wait until the last-minute. More folks pay the $1795 price than any other price point.

My goal is to moderate that imbalance and still make ends meet. So I am thinking about changing our price points. But to do that is a bit risky and I am not into added risk. One price won't work. I can't market it effectively. We can't wait until a week before to know 100 more people or 100 fewer people are showing up. So the different levels eliminates that planning problem.

The basic concept behind TRAFFIC was breaking bread together. We don't serve hot dogs and pizza. Eliminate the food and we have a different equation. We also have a different show and a different formula and I like our formula. With 1 year to go until we return to South Beach I can't tell if 250 people will show up or 500 will show up. The earlier we know, the better we can prepare and the better that hotel can accommodate our needs and space. Same with Last Vegas in May. What I want to do is try to narrow the gap and perhaps give more reasons to sign up at a lower level.

So I plan to unveil a new pricing structure for the Las Vegas Show in May as early as tomorrow morning after I get a little feedback from a few close and trusted advisors. You help us, we help you and together we all save a few dollars.

Stay tuned!

Rick Schwartz

Morning Folks!!

It's showtime!! Below is a picture I just took to let you know what is awaiting you as folks begin to arrive as early as today for the 25th T.R.A.F.F.I.C. and the start of our 10th anniversary year.

Expect a great week ahead as we add clarity to what is coming. That alone is worth the price of admission.

As always, we will mix it up, hear diverse points of view and let each attendee make up their own minds.

We are gonna shake some bushes this week and it will be to the delight of everyone attending. It's not too late to come! The official show activities begin on Sunday night! Come early and have 2 of the most relaxing and networking friendly days you can imagine.

ok, I have to go back to training for the big rumble with Frank on Monday. Guaranteed to be one of the best discussions we have ever had! Toe to toe, tag team battle. As it stands today, it is Frank, Monte, .CLUB and .KIWI against me and 3 guests. Need, Want and Desire will be on Team Schwartz!

The early bird for Las Vegas starts on Tuesday and ends on Friday. So 3 days or 50 tickets, which ever comes first.

Then we will offer some promotions that INCLUDE your hotel room at the Bellagio. Watch for that starting in November.

Rick Schwartz

Afternoon Folks!!

The final agenda and list of speakers for TRAFFIC, beginning this weekend, is now posted. It's wall to wall with content and it will be great fun as well. If you are a speaker, please check the online schedule as some times have been changed.

Sunday

Monday

Tuesday

Lastly, we know that our attendees and sponsors have paid substantial sums to attend and participate in T.R.A.F.F.I.C. We therefore have a problem with those who feel that they can come to the area and meet with our attendees at no cost to them.  This is not fair to those who came in the "front door".

If you want to come to TRAFFIC, please do not come through the "back door". If you have a financial hardship, let me know and we
can work something out.  Just so we are clear. This is a sore subject, but I like clarity and hope this does not become an issue.

Please travel safe and we look forward to welcoming you and your families!

Rick Schwartz

Morning Folks!!

Need, want desire are things I cannot stress enough. It is at the core of any and all business and unknown to most.

When I see it there, I see a winner. When I see it not there, I question the premise.

Now you can create need, want and desire but that takes some work.

In an article that just came out in BusinessInsider.com it may help you understand just how important this really is.

"I believe great innovations evolve from studying products that already exist in the market, thinking about how they can be improved and asking: What do consumers need and want?"

I will continue to validate this, write about it and how it is key to what we all do.

Need, want , desire, value =sale

Rick Schwartz

Morning Folks!!

You either have a keen eye for domains that others would want or you don't. Isn't that the heart of domaining? Picking locations others would want to build on in case you don't build on it first.

You can't think the way YOU want to think, you have to think the way that THEY think. Who is they? They is the market. They is the market that assigns value. Value happens over time. You can use comparisons to a certain degree. But it is based more on the other "C" called "Circumstance" and that can not be measured in this market or in any market.

Need, want , desire drive a market and value makes a market. Value is subjective because it is based on a need. That need has different levels of value. That need to a lemonade stand has one value. The need for a car manufacturer has a different value and probably greater value. So if you don't distinguish the two, you are leaving dollars on the table.

Rick Schwartz

Morning Folks!!

I can see 2014 from here and oh what a year it is gonna be!

As 2013 barrels along we will hit the ground in 2014 running. Business is expanding and no longer contracting. 5 YEARS of contraction came to an end late this summer. It was like tropical rains came to cure a drought. There will still be some dry periods, but that big drought is over and now it is time to get your share of whatever is coming our way.

If you have strong portfolios you are going to be rewarded well. So don't sell yourself short. Getting a great domain is only half the equation. Unique assets have great value. Meaningful unique assets have more value. Income producing unique assets have even more value. And brandable unique assets that are short, sweet and memorable have even more value.

Look, it is frustrating as hell to be patient. But that is the game we are in. We had to wait for the masses to catch up. They have!  How can I tell? One way is the responses I get to prices on my domain names. When you compare the responses I get now with the ones I got 10 years ago, you can see the mood has changed. There are no longer expletives coming back. That is a huge difference that some may not notice or not put a lot of weight on. I do!

2014 may be a mirror of 2004 accept with much better understanding. I truly believe that 2014 will be THE year we look back to as when things really hit pay dirt. It started this past summer. But it won't be running on all cylinders until this time in 2014. When you look back at this period from Labor Day 2013 to Labor Day 2014 and beyond, you will know the world changed.

I was right here with you in September 2008 when the collapse occurred. I was right here with you a year ago when things looked dark and folks were struggling and the future did not look that good to many.  I could see past that period to what was to come and not focus too much on day-to-day misery. I focused for the period we are in now. The true Golden Era of Domaining. Now I know folks are still struggling and that is the main reason I write. To let those folks know there is a better era coming. What I can't do is select your portfolio. You either have a keen eye for domains that others would want or you don't.

Long gone are the portfolio owners with millions of domain names. The rifle has replaced the shotgun when domain hunting. The best way to insure your future is to buy great domains now even if you overpay a little bit. Overpaying for Gold is better than getting a sale price on pigeon shit.

Rick Schwartz

Morning Folks!!

Branding is one of the hardest things to do in the world and also one of the most rewarding. Re-branding is even harder but can be even more rewarding. It's a very delicate balancing act.

So as many now know ElliotsBlog.com is now re-branding itself to DomainInvesting.com

That cuts two ways and takes some time to successfully manage.

"ElliotsBlog" is a very personal, folksy, one on one, just me and you and here is what I am up to and what I have learned type blog. It's comfortable. Not intimidating and Elliot has had great success with it.

DomainInvesting.com I am sure is geared to get to a wider and broader audience and become the go to place for domain investing. So of course the balancing act here is successfully merging the two.

So I want to wish Elliot good luck and best wishes in that merger. It will take time and effort. However his base should be in place and he has set himself up well for what is coming in 2014 that I will be writing about later today.

Rick Schwartz