The TRICK of turning Social Media into Profitable Commercial Enterprises

Morning Folks!!


I write this blog for you. The reader, the surfer, the
pioneer, the lost, the searchers, anyone looking for just a little more. I also
write this blog for myself. I enjoy putting my thoughts on paper. I guess that
is a last century term. Putting thoughts on paper. I guess now just filing
thoughts for the future and the past. I blogged before there was a name for it.
It started in 1996. I made a post each and every morning and what was unusual
at that time was that I actually used my own name.


ButOwen keeps finding stuff I wrote years ago. Yesterday he
found one and it is one of the most basic of posts and thoughts to me back a
decade ago when there was no domain industry and so few saw what I did.


I do have some of my oldest posts locked away in one of my
computers. I talked numbers and facts and dollars and futures and pasts and
everything in between. When I started this blog it was an attempt to get my
thoughts out there in a more formal method and be able to keep track of them,
be on record and then see how things actually unfold.


The following is perhaps one of my best pieces. Short,
sweet, to the point and accurate in a day a decade ago that few saw what we do.


'The reason I say this is there are so many facets of a
domain name. It has the face value. It has the value with the mineral rights in
the form of traffic. It is a collectible like stamps, coins, art, baseball
cards. They are real estate on a scale never known before. They are power in a
way that has yet to be fully exploited. They are TV stations. They are
magazines. They are soap boxes. They are an advantage on many fronts. They are
a permanent direct mail piece. They are almost anything you want them to be and
so much more. You are an instant broadcaster able to compete with the likes of
NBC, ABC, BBC, and all the rest. Your domain can create a situation to capture
more eyeballs than all the TV stations put together.'
~~ Rick Schwartz 1999

When I envisioned
the Internet, I envisioned a new media that would or could give every person a soapbox and a megaphone that could and would equal the most powerful. Soapbox.com
was one domainI really wanted. As you will see one of TRAFFIC’S past speakers
owns it now.

So I hope the folks that did not see the wisdom of having Steve Forbes, Ben Stein, Barbara Corcoran, (And there were many) I hope these folks will reserve judgement until they see what unfolds and THEN question the wisdom of having Rick Sanchez join a great list of TRAFFIC speakers. Each one offering us a little something. Each time we left with more than we came. If you understand this post than you will understand where we are going with this. If you can't grasp the notion that the trick is turning social media into profitable commercial media, then I guess we will have to agree to disagree until you figure out at the show and agree. :-)

Have a GREAT Day!
Rick Schwartz




8 thoughts on “The TRICK of turning Social Media into Profitable Commercial Enterprises

  1. Mike

    I admit, I really don’t know where you are going with this one, and I am an old-school domainer like you and think almost identically to you Rick (I’m a 1995 domainer). As strange as that may seem to be, it’s true. I think it may be because we both have such a long history in this business.
    This is why I am confused. I generally know/agree with what you are talking about, but this one escapes me. I just can’t see how Sanchez could be of any real value really to domainers future endeavors.

    Reply
  2. Anthony Hanner

    In order to take domains to the next level, you have to study old media.
    Whether it is TV or print,”they” still bring something relevant to the table. They may not have”gotten it” quick enough…but they are beginning to”get it” now.
    Domains, content rich and relevant websites can compete with the likes of the big TV and print companies…but having understanding of what”they” do can benefit domain developers as much as it will benefit”them” to understand our side of the media business.
    When you understand both sides of the game…you become much more powerful and can take your business to a much higher level.

    Reply
  3. UFO

    Content is far more powerful than generic names.
    Now that generics have been well and truly picked over and there’s only the tailings (drops) to sift though, its logical that most domainers need to take a step up the food chain and actually serve something to attract users.

    Reply
  4. jeff schneider

    Hello Rick,
    I for one have a lot of faith in your super intuitive powers when it comes to business opportunities. Messengers come in many different forms and some appear most unexpectedly.
    I would like to remind everyone on this blog the intial reaction to having Dr. Kevin Ham speak, just before he reached the podium. Most domainers thought initially that it was going to be a yawn. Five minutes into his presentation changed all those preconcieved notions into the reality of a really important speaking event.
    My intuition is that Rick Sanchez just might bring the house down. I would recommend everybody reserve their judgement until they actually experience what he has to share with us. Besides you don’t want to have to hear from Rick afterwards I TOLD YOU SO. LOL
    Gratefully, Jeff

    Reply
  5. jeff schneider

    Hello Rick,
    Whether or not you want to post this comment is up to you as always. I feel that it can be of great help to your followers and if you choose not to post this I will find a blog that will.
    My intuition and market experience tell me there is a very nasty downleg to this bear market that is unfolding as I speak. There still is time for people to save their bacon though.
    I copied and pasted a comment I made on your blog on Oct 5th. The only thing that has changed is Starent networks value and the remaining advice of the comment remains the same.This will be my final friendly warning.
    Copy follows:
    Hello Rick,
    Timing is everything and today marks the end of this bear market rally we have been in. Ben Franlin if he were alive would be getting into cash as soon as possible.
    The next downleg of this Secular 5 year bear market will be quite nasty. It is advisable that knowone have more than 5% investment capital exposed from this point on. Of this 5% left in stocks 98% of all companies shares will struggle. The only company that I am advising my clients to hold is Starent Networks. Its the only company I am remaining with through this down leg.
    If you own banks take profits immediately and avoid the group for at least 2 years. Do not underestimate the bite of this bear. Hopefully this will help some of your followers.
    Gratefully, Jeff

    Reply
  6. UFO

    Jeff,
    Meanwhile… back at the stock exchange..
    The Footsie (UK) jumps 2% this morning.
    Personally I think all chartists in the financial markets should be kicked out, its the lack of focus on fundamentals that got us into the mess.
    Bear legs is Bulls bollocks. Think recurring net cash flows and you will know where there is value.

    Reply
  7. jeff schneider

    @ UFO
    The whole underlying argument for derivatives was the sound fundamentals they would supply to the market place. Liars figure and figures lie. Be patient grasshopper and let the future guide you not some fundamentally based pipe dreams, based on illusions.
    Besides I am not a chartist. I am a realist grounded to the visible truths around me. I bet you don,t know that the reality of the markets since this year began is that they have been massively manipulated by the fed. Free markets that are manipulated with massive cash infusions always readjust. Bulls often get gored by their own horns. Oh and by the way the current fundamentals are the worst I have seen in my career.My advice to you is take the blinders off before you hit the wall.
    Gratefully, Jeff

    Reply
  8. UFO

    DOW now 9993
    Bulls are lining the bank, inflation low, economic upside high, discount rate good… most of the worlds analysts with thumbs up. Positive reports out of Asia, Europe and the UK.
    Jeff Schneider still telling clients doomsday is near.
    The DOW just hit 9999.

    Reply

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