For anyone that has been or is curently in a sales role, you have heard this before.
Always be closing
It was a phrase made famous by the film Glengarry Glen Ross. The film starred Jack Lemmon as the typical sales grunt, slugging through daily cold calls in a position he despised and Alec Baldwin as the chain smoking, foul mouthed sales manager trying to squeeze blood from the ‘stones’ under his charge.
Baldwin’s character makes the famous ABC speech using chalk, a blackboard and enough expletives to make Pacino’s ears bleed.
The premise is that you should alway be closing for something. Whether its a multimillion dollar domain sale or your first $100 sale of a hand registered name, there are often multiple closings prior to the sale. As a domainer or developer, how often do you think about the next step that will make you successful? How often do you do the research, monitoring, back ordering, sniping, developing of a name only to watch it sit idle or bring in mediocre advertising earnings? What is your next ‘close’?
If I were to hazard a guess I’d say nearly 80% of domain investors/marketers are ADD or at the least have a difficult time completing what they’ve started. Domain flipping brings the possibility of enormous gain for what seems like limited investment. but when you factor in the time wasted by false starts and incomplete efforts it becomes clear that domainers need to FOCUS!
Recently after reading recent post by Rick Shwartz, I realized that I was spending far too much time doing all the things listed above with lower quality names – spreading myself thin and not ‘closing’ anything. When he said it’s better to buy 1 quality name for $x,xxx than 13 mediocre names for $xxx, my domain inventory flashed before my eyes and I didn’t like what I saw. Additionally, in a post from May, 2009 Rick discussed turning your liabilities (junk domains) into quality assets by selling them and buying one or two great names. While I’ve only been in the game for a few years, this simple lesson should have stuck long ago.
So as January draws to a close, my very belated New Years resolution is twofold:
1. To Always Be Closing for the next step, the next phase.
2. To sell off much of my domain and website inventory in order to invest in higher quality names that carry greater lasting value.
I no longer want to look into my inventory and have to question if it’s worth it to pay a renewal fee for ANY of my names.