Domain Spotlight:

Everyone Thinks They Have a Lottery Ticket: I Actually Do

domainsIf you read the various domain BB’s you get the feeling that a lot of domainers think they have domains that are going to make them rich.  Their Lottery Ticket. In reality they most likely have “Daily Game” lottery ticket that at best will pay up to $1000.  Ninety nine percent of the domains you come across are as worthless as a losing lottery ticket but the dream of money appearing out of nowhere is too strong a pull and will always keep people buying junk names on the cheap.  I’m no different.  I dream of the easy money but I realize that to make great money you have to spend good money.  That is, of course, until the lottery goes up to $120 million…..

That’s when I buy a ticket.  I threw away $5 last night  at the mere thought of winning $120 million (I’d actually take the $79 million cash payout).   Instantly I would be able to play ball with the likes of Kevin Ham, Rick Latona, and Frank Schilling.  What would I buy?  That’s the funny thing.  I already have a million dollar company and several domains that are capable of producing revenue in the millions but don’t have the cash or time to build and support anything more than my brick and mortar business.  With that kind of money I could buy brilliant people to help build, expand,  and support these ideas.

The fact that I won’t win (I’m writing this before I find out) doesn’t bother me one bit.  I buy the ticket because it makes me into a big thinker that evening and it’s important to occasionally plan as if money were no object. If you let money determine your business plan you are more likely to hit the glass ceiling.  Of course, if you run your business like money is no object then you’re just as likely to fail.

In short, everyone has a few lottery tickets in their domain portfolio.  Those that you hope to take a little investment and turn it into mega money but if that’s all you’ve got, you’re not a domain investor, you’re a gambler.

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