I’m relatively new to the domain monetization business but I’m not new to business. I have had the fortune of being a 5th generation owner in our field and was taught by my father and family on how to run a business, any business. Our business was started in 1865, way before there was such thing as the Internet, pay per click, and……..electricity. In those 150 years nothing has changed when it comes to running a business, just the way you achieve those results. That and you can’t have slaves.(Just kidding we never had slaves)
I was taught that there was something special about running your own business. You made the calls. You made the decisions. And you paid the people that brought you business. The salesman worked for you and if a salesman made a ton of money at his job, then you made 5 times what he did. Because I’ve never really worked for anyone that’s how I think. I read all the articles about lead generation from Morgan and Teen Domainer but all I can think about is the fact that I don’t want to just generate leads, I want to own the business that the leads are being generated for.
I realize you can’t just go out there and start a law firm or an insurance company but you there’s no reason you can’t start a company that sells product or services on the web. I want to own companies, not generate leads for companies. I realize there is fantastic money in generating leads for others but it’s just not for me. Every company in the world has people generating leads for them. They’re called salespeople. But they only get a cut of the action, I want the rest. I get the same feeling Morgan gets when he finds a law firm to give him $20 a lead, the only difference is my feeling comes from finding a produt that I can sell at a good profit. A good enough profit that I can pay others to sell it for me. Don’t get me wrong, I have sites that generate leads but that’s only to make a little money on the way to my end goal of building companies. It also is helping me learn to generate my own leads so I don’t even have to pay someone else the lead fee. That’s how greedy I am.
I’ve always been a dreamer. I see a store that is doing well and I don’t want to own that store. I want to own that store and the whole block. I see someone getting $25 a click for a lead and all I can think about is how much frickin money are those people making to be able to pay out that kind of lead generation money. Is that dreaming too big? I don’t think so. One thing I’ve been blessed with is the ability to see opportunity. I see opportunity on the web for those that have established businesses. There is more opportunity to sell product and service on the web than any other opportunity in time. I will make my millions, not flipping domains, not sending customers to others, but selling my goods. The same goods my family has sold for 150 years just instead of serving local and Midwest customers, now I get to sell to the world. It’s no longer tens of thousands of possible customers but hundreds of millions.
So call me naive, call me a dreamer, that’s how I think. I’m not the front page story of the guy that started from nothing. I was given opportunity since the day I was born. The difference between me and most people is the fact that I saw it and ran with it every chance I could. By most people’s standards I am rich but I don’t have the wealth of Kevin Ham and the two Franks. I am in the same boat many 40 year old men are with companies. I am asset rich and cash poor. I have to borrow against all my land and assets to start the next company. It’s easy for me to borrow for brick and mortar type things, not so easy in domains. Ever go to a bank and try and borrow 500K to buy a domain.? They’ll let me put a 100 acres up to pay for it but they won’t take the domain as collateral.
I see the next opportunity staring me in the face. It’s selling my products on the web. I didn’t go out there and buy plants.com for $500K, no, My Dad and I put 500K into land and a production facility to grow enough plants to meet the demands of a larger customer base. I think my money is much better spent behind the scenes, building infrastructure. I will buy the killer domain AFTER I create a successful online business. And of course I’ll let Theo or Fusible break the story when I do. 🙂