I’ve been working for myself full time for a little over two years. Below are the top ten reasons why I enjoy working for myself. To add a twist, I am also adding a reason for each about why each thing sucks!
1.) I can make my own hours and work whenever I want. I can also take vacations whenever I want. I can go to the gym in the middle of the day, eat lunch whenever, take time off to visit friends…etc. I can pick and choose which domain conferences I attend, and I don’t need to get permission to attend a business conference.
- I tend to work 12-14 hours a day, and it’s not straight through the day, so I can work until midnight or later on some days. If I am in the middle of a big project, I can forget to return phone calls, and this tends to hurt friendships (sorry, Adam). I have become a workaholic and don’t stop working until something is finished or I am forced away from my computer. I love what I do, but it’s still consuming.
2.) There is no need to get anyone else’s approval when I make acquisitions, sales, or have expenses. I can rapidly make deals on the fly and be creative with terms if necessary.
- Great… spending thousands of dollars without a second opinion that has a vested interest in my business. Nice. I am also in charge of my accounting… too bad I took Financial Accounting during college the semester I pledged my fraternity. That 1.92 GPA for the semester haunts me sometimes.
3.) Every month, the pressure all falls on me, and I tend to work better when there is more pressure.
- I work longer hours, become ornery, and don’t have time to do the things I enjoy when I am under pressure and facing a deadline.
4.) When something is successful, I can take credit for making it happen and it feels good to accomplish something on my own. Of course, I thank the people that assisted, but a successful project for my company doesn’t necessarily mean much to others.
- It’s great to have personal successes and to celebrate them with my family and friends, but I think it was much more fun when I was working on a team in the corporate world. I miss that camaraderie.
5.) I don’t have to share the profits with business partners or investors.
- Since everything is self-funded, there’s more pressure to make things happen.
6.) If there’s something I want to test or explore, I don’t need to make a business decision to justify it.
- It can be better to learn from someone else’s previous experience, and people tend to be more willing to share their unbiased opinion when they have a vested interest.
7.) I have the chance to meet with others who are in the same business as I. There is a lot of networking and open discussion among domain investors who work for themselves.
- At the end of the day, just about all of us are competitors in some way. Those who consistently buy and sell domain names are usually competing for the same domains in auctions, drops, and private acquisitions. There’s a fine line between sharing and keeping the cards close to vest.
8.) Having a blog has allowed me to connect with many of the most successful domain investors via email, phone, personal meetings, and business meetings. I have received great advice – everything from domain investing to general business advice to personal advice. I doubt my company would be in its current position without the blog.
- The blog has also exposed me to unconstructive comments (mostly anonymous cowards). I appreciate all comments that are constructive – especially if someone disagrees with me so I can see a different point of view, but it’s irritating when people leave comments that are meant to be hurtful to me or to other commenters when they don’t add value. I guess the bad economy has left some people pretty bitter about things.
9.) I can work from wherever I want. In fact, right now I am writing this on an airplane.
- I tend to work wherever I go – even when I am on vacation.
10.) Over the past 6 years, I’ve learned quite a bit about the domain industry and even the politics within the industry. I have built a good gut feel for things and believe I have good instincts when it comes to making business decisions.
- If my instincts are wrong, there isn’t anyone with a vested interest to help – especially on confidential deals.
This seems like an easy enough question to handle on a Wednesday afternoon: What is domain investing? When I think about that question, the answer doesn’t appear to be as clear cut as it would seem.