Let’s face it – the Domaining world is an exciting place and it always seems like there are a million different things we could be doing. Most people start-out by buying a few hundred (or thousand) domain names and then quickly become overwhelmed trying to figure-out what to do with each of them. When parking fails to produce revenue many new Domainers quit, they say – “There is no way to make money any more – all the good domains are taken.”
Focus is a key part of success and in the Web 2.0 world we all live in – staying focused can be a challenge. With so many potential projects I oftentimes feel overwhelmed which is why every single weekend I review my plan and determine if my goals are realistic. Unrealistic goals can lead to a lack of focus which will cause all your projects to suffer.
So how can you be more focused? It’s not as hard as you think but you will have to learn to make sacrifices – and I’ll announce one of my sacrifices right now!
After reviewing my plan for the year I realize that I will not have time to develop Translate.co.in. This domain has been a labor of love for me but the time it will take to do it right is time that I don’t have! To do a great job on this site I need to devote at least five hours a week to it and with the launch of Domainvestors Television I don’t have that time.
Now there are two ways you can look at this – a success or a failure. It is a failure because I did not meet my goals of developing Translate.co.in. At the same time it is part of a greater success – the creation of my own television show – a dream of mine for a LONG time. In the end I know that I need to stay focused in order to achieve this goal and thus have to scale back on other projects to accommodate it.
So how do I keep track of these projects, goals, etc. I have a plan! If you don’t have a plan open-up Microsoft Word right now and start one! It will only take you about ten minutes to get started and in the end you’ll feel more organized just having your ideas together in one place.
The most important thing to realize about a plan is: plans change! You have to prioritize your goals and make sure that you aren’t doing too much. I’ve always said:
You can do ten things pretty well or one thing really well.
Just think about that for a second. This doesn’t mean you should drop all your projects and only do one…but it does mean that the less you do, the more focus you can provide to each project. This is something I constantly struggle with as I really want to do it all – but over time I’ve learned that I have to stay focused and do less.
Every time I remove something from my plan I look at it in a positive way – now I’ll have more time to focus on everything else! You should be doing this too otherwise you will end up doing too many things with too little effort given to any single project to make it a true success.
So what are my priorities – take a look below and do this for yourself!
1) Domain Brokerage
I own a domain brokerage company and have a large portfolio of domain names myself. I am a domain investor so my primary focus is, and always will be, buying and selling domains.
I love blogging and Domainvestors.tv is a HUGE focus of mine. Along with this blog I also run four other blogs – I love blogging and this is a major priority for me now and over the next ten years (yes – I do have a ten year plan and you should too!)
3) Domainvestors Television
I am starting my own television show! This is very exciting and has been a dream of mine for a long time – I am going to make this show a success!
4) Creating Revenue Domains
There are some domains in my portfolio that I know will generate a good monthly income if developed. I have already developed about 100 domains in my portfolio and all of them generate revenue for my business.
That’s it – there are my priorities for all the world to see. As I look at my monthly plans I make sure to keep these priorities in mind. If ever something at a lower priority level is taking focus away from something at a high priority level I make a sacrifice. That’s what setting priorities is all about and is the key to staying focused.
So now look at your own Domaining business. Are you trying to develop five-hundred domains? Are you madly hand-registering or buying domains without putting thought into the re-sale value of these domains? Are you up until all hours of the night trying to find-out why your domains aren’t making money? Now ask yourself – “Do I have a plan” – if the answer is “no” then you now have somewhere to start.
Stick with it, make priorities, and stay focused. At the end of the day don’t be afraid to make sacrifices – with each sacrifice you are adding focus to another goal. Oh – and always remember, if you aren’t having fun with it then you’ll never succeed. Yes – Domaining is a business but as with any business, if you don’t love what you do you won’t put your heart into it.
Want to see my goals for the rest of the year? Email me and I’ll send you the word doc with my actual goals in it. I don’t want to publish it on the blog because that would turn this into the world’s longest blog post!
Stay focused everyone – it will make all the difference in the world!