… I admit, it’s something I’ve been guilty of as well and one of my top goals for 2013 is consolidation. Lots of domainers have a few project on their plate as well and if that’s the case as far as you’re concerned, I hope you’ll find my reminder useful.
Here are 4 examples of projects I launched and my conclusions:
1) I’ve been running my article writing service for quite a while, the prices haven’t changed and won’t change (2 cents/word, all of the writers are from the US), a very successful project and I purchased the domain Articles.biz for it fairly recently. Most of my business came and still comes from word of mouth advertising (existing clients are satisfied and recommend my service to other people, rinse and repeat). A business that runs well without requiring a substantial investment of time on my part, I managed to pretty much make it run itself.
2) Then, I launched Auctionpus.com and it was profitable, a very good way to sell your own domains or make money from commissions. But unlike Articles.biz, Auctionpus requires a lot more personal involvement and that’s why I’ll be selling it this year. It belongs with someone who can make it his/her #1 priority.
3) MiniEscrow.com is the second example that’s similar to Auctionpus, it requires too much personal involvement on my part to function at its full potential and therefore, I’ll be selling it this year as well.
4) My hosting business, DomainingServers.com is chugging along nicely, I work with some very talented people and the business runs like a well-oiled machine.
So what will I do this year?
On the one hand, I’ll keep Articles.biz and DomainingServers.com since they run smoothly without requiring too much personal involvement.
On the other hand, I’ll sell Auctionpus.com and MiniEscrow.com because they require a more substantial investment of time and belong to someone who can give them the attention they deserve.
Maybe I’ll sell Auctionpus and MiniEscrow.com to the same person (running an auction site and an escrow site can be a good combination, that was my initial strategy), maybe I’ll sell them individually.
The bottom line is that in 2013, I will be brutally objective and do two things:
1) keep the projects that don’t require a huge investment of time on my part
2) sell the projects which require more attention than I’m able to put on the table
Some business decisions are painful but the day only has 24 hours.
No matter how hard you’re willing to work, the risk of spreading yourself too thin is there and shouldn’t be underestimated.
PS: Auctionpus and MiniEscrow aren’t “officially” on the market but if you’re interested or know someone who is, shoot me an email at email@example.com. In the email, include an offer and a little bit of info about what your plans for Auctionpus and/or MiniEscrow are.Advertisement: DomainingServers.com lets you host UNLIMITED domains at $0.98/month and we're putting a LIFETIME money back guarantee on the table (if you're not satisfied, we'll issue a full refund). To place an order, click HERE.