I wanted to revisit a topic I first wrote about almost three months ago, How to (Really) Make Money with Domain Names.
Before I wrote that, and increasingly since then, I've seen public admissions by a number of domainers that the potentials for growth by just buying and holding domain names isn't what it used to be. 75% of domain industry professionals may expect domain prices to increase this year, but even Andrew Allemann from Domain Name Wire ... Keep reading »
When I started writing this, my first sentence was "The time for making easy money with domain names has passed." It didn't take me long to realize, though, that there never really has been any easy money in domains.
Think it was easy to invest $70 each for domains back in the mid-90s when no one could really be sure at all that the Internet was going to be as life-changing as it has proven to be?
Think it was easy ... Keep reading »
I love this quote that Shai posted today:
The greatest reward in becoming a millionaire is not the amount of money that you earn. It is the kind of person that you have to become to become a millionaire in the first place.
- Jim Rohn
It reminded me so much of what people say all the time about Frank.
The key to Frank's niceness is that it's authentic:
I genuinely like people -- all people -- and I’m a pretty happy guy. I just try to be myself. I've never forgotten who I am and I have a pretty good memory. I remember how hard it was for me in the past and what it's like to have nothing. I'm the same guy -- putting more zeros in my bank account doesn't change my memories ... Keep reading »
Achieving success often involves taking risks. Frank certainly understood that:
When he started his funding was limited to his relatively modest life savings and a string of credit cards that he quickly maxed out. Schilling literally bet the farm on his dream.
He and Michele sold their house and the remaining homes Frank had built and emptied their retirement accounts to build a $200,000 war chest. They also decided to move to Grand Cayman Island where they felt the absence of ... Keep reading »
I've thought lots of times, as many of you have, "Man, I wish I had what Frank has." "Schilling built his phenomenal domain empire from scratch despite taking the field just five years ago, when almost everyone else thought the game was already over." Phenomenal. Why can't that be me (or you)?
I think the biggest thing we lack is the desire to put in the work that Frank did, and Ron Jackson points that out early on ... Keep reading »
Some people will tell you it's a dog-eat-dog world. One thing you hear over and over about Frank, though, is how nice a guy he is -- including in Ron's article.
Ron mentions in the very first paragraph that Frank "is universally regarded as one of the nicest people in this (or any other) business," and he mentions later how Frank called him out of the blue "just to introduce himself and let me know he liked the publication." ... Keep reading »
A corollary to yesterday's lesson about some elements always being out of your control is that not every disaster is a disaster -- as we learn from Frank:
In September 2004 category 4 Hurricane Ivan slammed into the Cayman Islands. Schilling had gotten his family on the last evacuation flight off Grand Cayman before the storm hit. Though they were safe their home was destroyed along with everything in it. Their cars were also wrecked but the biggest loss was ... Keep reading »
Another thing that really stood out for me in the article was this:
His timing couldn't have been better. The .com bubble had burst in 2000 and prices for good domains had become affordable again. Disillusioned owners were even letting high quality domains drop rather than pay renewal fees.
Timing played a huge part in Frank's success, and there will probably be factors in your success, too, that are out of your control. So don't sweat those. Manage what you ... Keep reading »
In my life, opportunity has very rarely found me. Instead, I have had much better success when I'm actively seeking it out. I was reminded of that when I read Frank's quote about one of the turning points in his life:
In 2000 Schilling happened to read an article in a small town newspaper that would end up changing his life dramatically. "I was visiting my parents who had moved several hundred miles away and read in the local ... Keep reading »
