A World of False Information and Flawed Assumptions Equals BAD DECISIONS!

Morning Folks!!

Do you make decisions based on false information?

See, false information most likely will lead you to a false assumption. So getting the info right is critical to making a good decision. But since folks are sometimes lazy, we believe the first thing we read and that sets in like concrete. Then FACTS are ignored because the concrete in the mind has hardened. Loosen up!

This is just another point or flaw of Human Nature. Our job is to fight human nature every step of the way because more often than not Human Nature is the trap door of life that screws everything else up. Reserve judgement until the facts are in and when new facts are presented, don't remain ignorant. Factor in the new info and see if the outcome changes things. If you don't do that.......how eactly can you make a good decision? You can't.

Now if there are no facts yet you base things more and more on assumptions. But each tidbit of info has to be factual for you to arrive at your intended destination even in an assumption. Your job is to check things off as they materialize and be nimble enough to change if the factual info points the wrong way. The more factual based info you have at hand the stronger your course is and the better chance you will get where you actually desire to go.

Look, since we can't live longer , we can certainly fight against wasting time. We can be our own efficiency expert.

Maybe making money in life has less to do with making money and more to do with setting it up efficiently and figuring a way to self sustain itself.  Maybe that's why many of us ended up in domaining to begin with.

Rick Schwartz



5 thoughts on “A World of False Information and Flawed Assumptions Equals BAD DECISIONS!

  1. Altaf

    “life has less to do with making money and more to do with setting it up efficiently and figuring a way to self sustain itself. Maybe that’s why many of us ended up in domaining to begin with.”
    I like this statement Rick. We have to be money manager at our early age to have better life at old age. That’s why i advised my children to invest in domains at their 20’s, as my time there is no such thing as internet or domain to invest in, and wait to harvest the fruits. Great post!!
    Have a good day! gratefully, Altaf

    Reply
  2. JBS

    So, as we do have some facts, we should be able to make some logical assumptions about the new gTLDs: 1. There will be roughly 1,000 new keyword specific – yet non-geo, non-generic, and non-brand (closed) extensions. (I did not really count but roughly a fact…) 2. Of those, we can safely assume no more than 100 per extension will be good phrases that are even worth reg fees. (try it for yourself and good luck) 3. The rest of the domains that will be newly registered on these extensions will therefore just add to the current pool of pigeon sh*t. Most will drop after the first year and not even be recycled once. Can this specific group of 1,000 extensions even survive with only 100 good domain phrases each? My assumption is that at least these 1,000 extensions, with only 100 good domain phrases each, will not be successful by any serious benchmark. Are these “facts” or my assumption wrong? IMO, this is the ELEPHANT IN THE ROOM! How did we even get to this point? What were / are these business people thinking?

    Reply
  3. JBS

    It is a good topic for discussion. When the new gTLDs start arriving, we will all have to make decisions as to whether or not to invest or what extensions might be worth a financial risk. Otherwise, you miss the opportunity. So, I started making a list of a few domains I liked in a dozen or so extensions a few months ago. They were the good, obvious phrases like used.cars and auto.insurance, etc. I was even thinking about throwing some serious money at the better ones. But then I started thinking about the viability of each specific extension that I was interested in and how popular it could even be. That’s when I started seriously questioning my “list”. Sure, taken as a whole, the “gTLDs” look to offer great choices to potential registrants. But is that an illusion? What will used.boats be worth if only 1,300 domains are ever registered on the .boats extension and of those, only 50 .boats domains are worth reg fees? At least we have a few more months to gather whatever “facts” are possible to gather. So, WWRD? That is why I am here…

    Reply
  4. Anthony

    Rick,

    Is this post a precursor in retracting your overly bullish view of the near-future economy?

    We are on the eve of war readying our Syrian strike, and this time including against a twisted, shrewd Russian combatant + other foes.

    What is your take on this pending world conflict?

    Reply

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