Since the middle of the Summer, things have been running smoothly for my business. While sales have been solid, it remains difficult to find deals on private acquisitions. Auction prices remain higher than I would like, and I have been more actively buying pending delete domain names as a result. For my business, maintaining the status quo is probably the right move, but it is difficult for me.
When I am not buying a big name or closing a nice sale, I get restless. Making deals is not only rewarding for my business but it is exciting. It puts a hop in my step and makes my work day better. When I am not making nice purchases or solid sales, I feel like I am falling behind.
The trouble is that a splashy purchase may be the wrong decision. There have been numerous times I went out and reinvested money from a sale only to regret the decision later. I felt like it was necessary to put that money to use ASAP, and instead of waiting for the right opportunity, I went for the right away opportunity. This feels like a win, but it is short sighted.
Likewise, there have been times I have undersold assets in an effort to drive immediate revenue. It’s not that I needed the revenue from the sale, but I probably needed the endorphin rush from a sale. I don’t really have regrets on sales, but there are times I should have held out instead of agreeing to a deal.
I would imagine the excitement of making deals is what draws many people to the business of domain investing. Investing in a disciplined manner is critical because opportunities pop up when they aren’t expected and having cash on hand to capitalize is a requirement. Sometimes the best course of action is to maintain the status quo, but that is very difficult for me to do.