In 1996 What Did I Set Out to Create?

Morning Folks!!


My original objective was simple. I wanted to create a “Revenue engine” that would be capbable of making me $2740 a day. $1M a year for the rest of my life. THAT was my objective and THAT is what I built. A financial bunker of sorts with a $1M moat during the worst of times and hopefully a little more in better times.


I started my journey at $1/day. Then $2/day, then $5 a day and so on. But I always focused only on the day. Like focusing only on the next step of a ladder. Others would make $100 one day and $0 the next day. That was not what I was looking to do. I was looking for consistency. I was building a foundation.


I was building a virtual engine with domains. Adding cubic inches as I added domains with traffic. I could make that engine any size because it was Virtual not Metal. But I just wanted that $1M a year before I even woke up in the morning. So some days I am retired and somedays I work until I fall asleep at my computer. But it was and is MY CHOICE every single day since then and even before then.


Funny thing happened on the way to that. I obtained the goal in late 1997. In January 1998 I sold all the traffic for $30,000 a week. $1.5M/year. Even better than my goal. After I sat around and goofed off for a a few months I asked myself what was stopping me from doing that again? Repeating what I had done. And so I did. In the next 18 months I built another revenue engine duplicating what I had done before. $1/day, $5/day, $10/day and so on. I finally did that one more time just as an insurance policy.


My goal was to create revenue streams and not work. Creating work would have been much more fruitful as many make much more. But I never wanted to be dragged back into a job. Into a commitment. My soul was paid for and the last thing I wanted to do was re-mortgage it. Retired and that was how I wanted to stay.


As for the domains, I knew they would skyrocket in value and that was another train that would come online with more gold on it. The biggest booty. Booty that would put what I already made in a shadow. I still believe that. My mission was to accumulate great domains and afford to renew them for 20 years.


Yes the days with those 3 duplicate revenue streams are over for now. But the moat is still in tact and then some.


Lastly, revenue since I am online has now crashed THREE times. In the adult world around 1999. In mainstream in 2003-2004 and as we are all witnessing 2010-2011. But each time the crash occurred, things ROARED back stronger than ever. That's the nature of things and I don't expect it different in the future.


All I can do is share the path I took as I don't know the other paths as I was not on them. But I did watch from afar as many fell off a cliff. They were much smarter with much more talent and know how than me. But they still fell off a cliff. I know that cliff and all I knew is I did not want to be anywhere near it. So I built a moat to keep me clear of that. Once I built that I knew I had the luxury of time on my side.


Have a GREAT Day!

Rick Schwartz

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14 thoughts on “In 1996 What Did I Set Out to Create?

  1. David

    Rick, you mentioned:”But each time the crash occurred, things ROARED back stronger than ever.”
    Do you see a strong recovery happening within the next few years, considering the current government, and assuming no major monetary or fiscal changes before or after the 2012 election?

    Reply
  2. David Harry

    G’day Rick,
    A great blog post mate! This is what I have been doing since 2007, building my domain name portfolio each day and yes times are tough at the moment but again times will change as always!
    Cheers mate,
    David Harry

    Reply
  3. Sully

    Rick,
    I wish more of the naysayers would listen to you about that current state of domaining. All these”the sky is falling” and”domaining is dead” comments seem to be very nearsighted to me. The only way domain names will become obsolete is for someone to figure out a”new” Internet and a way for IP address’ to translate in a more meaningful way, and I don’t know a more meaningful way than words (i.e. – domain names). Yes, parking rev is down but honestly since Google downgraded eHow I’ve noticed my parking hits going back up. The fact is now is the time to buy. What was it that Warren Buffet once said…”Buy when nobody wants it and sell when they can’t get enough” (or something like that). Anyway, thanks for all your inspiration and levelheadedness.
    Sully

    Reply

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