Lessons from Frank Schilling

Frank SchillingMany of you already know Frank Schilling — the owner of one of the largest domain portfolios in the world. The portfolio is worth well into the nine figures, and annual revenue estimates have him generating around $20 million dollars every year. That’s $1.7M every month.

What most people didn’t know until now, though, was that Frank didn’t start in this business until 2002 — long after many people felt like the big gains to be made in this market were over.

Domain Name Journal has a great article this month entitled “Nice Guy Finishes First: How Frank Schilling Won the Domain Race After Starting at the Back of the Pack.” It’s obviously a must-read for any level of domainer, but one statement from Frank made me realize that anyone looking to quit their day job also had a ton they could learn from Frank:

The most important dollar I ever made — the one that made me shout for joy and feel rich — was the dollar it took to allow me to work from home and to stop going to an office. Everything since, everything, has been anticlimactic for me.

If your main goal in life is to quit your day job, I can second Frank’s comments: it’s everything you ever thought it would be, and more. You won’t reach your goal only to find that it ultimately was unrewarding. It isn’t. It’s one of the most rewarding things in the world — particularly if you have a family. The freedom that comes from not ever having to work for anyone else again is one of the greatest blessings I have ever experienced.

Domain Name Journal tells the story of Frank’s success in great detail, and in only one pass through it I’ve already identified 10 great lessons for success in his story that I’ve also experienced in my own life. Each day over the next two weeks (or more) I’ll be highlighting one of those lessons and discussing it in more detail.

I wrote awhile back about leveraging the stats of others who are already successful, but leveraging the experiences of others is equally as valuable — and I can’t think of anyone any more relevant to your situation than Frank.