When I was working as a marketing program manager for a large company and investing in domain names on the side, my goal was to turn the domain investment “hobby” into a standalone business. It’s pretty cool to see that come to fruition, but there is a downside to my business: working alone.
When I was in my corporate job several years ago, I had many colleagues, mentors, and other people who shared similar business goals. When I had questions about a P&L or needed some guidance about a marketing program that was underperforming, I could ask my boss or colleagues. When a program saw exceptional results, we all celebrated as a team. There were off-site meetings and team building activities.
With my domain investment business, there isn’t any of the camaraderie that is associated with working for a larger company.
I am presented with offers and deals that I must consider on my own. There are touchy negotiations that I must tackle on my own. Every day, I need to make several decisions that could impact my business in different ways, and I don’t really have anyone I can ask to get completely unbiased advice that is based on the exact business situation as presented.
I speak with a number of people who work within the domain investment business. Some of these people are brokers and others are people who own their own domain investments. While I have a great network of trusted associates, we don’t generally share financial details, so there is a large missing component to many discussions. For instance, a colleague might say to pass on a $50k offer, but if I need the money for something, obviously that advice isn’t as valid.
I absolutely love doing what I do. I can get to work whenever I want, I can work from anywhere I want, and I can run a decent book of business without significant overhead. However, working alone poses some unique challenges.