Need, Want, Desire, Fully Defined Like Never Before! What it Means to You!

Morning Folks!!

If you can't get over the hurdle of Need, Want and Desire, you can't even talk about value or price. Now unsuccessful domainers and those in failing businesses everywhere ignore these 4 simple elements. Easy elements. Elementary elements. The basis for business itself. But if you don't get that part, how are you as a domainer going to have the capability of looking at something through the eyes of another? The John Jones Story. Go search for it on my blog if you are the type to progress.

So let me help define it for you so maybe you will see why you are not succeeding and on the wrong track. And for those that are doing well this will reinforce and sharpen what you already do naturally but may have never sat down to isolate each piece of the equation of business like I am about to do.

I know I repeat Need, Want, Desire a lot. So ask yourself why? It was the missing elements of gTLD's that led me to figure this out and not articulate a bit further. At the end of reading this ask yourself the question. Put anything you want to the test. Is it needed? Is it wanted? Is it desired? And "Need" is the top of the pyramid.

Need: 

: a situation in which someone or something must do or have something

: something that a person must have : something that is needed in order to live or succeed or be happy

: a strong feeling that you must have or do something

Want:

: to desire or wish for (something)

: to need (something)

: to be without (something needed)

Desire:

: to want or wish for (something)

: to feel desire for (something)

: to express a wish for (something)

:  to long or hope for 

Value

: the amount of money that something is worth

: the price or cost of something

: something that can be bought for a low or fair price

: usefulness or importance

Price:

: the amount of money that you pay for something or that something costs

: the thing that is lost, damaged, or given up in order to get or do something

: the amount of money needed to persuade someone to do something


 

These are the building blocks of business! Any business. Any good or service. Without defining and fulfilling these elements means you can't. And if you can't failure is in the direction you may be heading.

The difference between a $100 domain and a $1 million domain is understanding this post. There is nothing to argue with here. If you are arguing, you are not understanding. You are not wrapping your head around the most basic building business principles. You have an opportunity to change that right now.

These are not things I was ever taught and I doubt they teach this anywhere to begin with. Just things I was able to figure out over time and experience. Take it for what it is worth.

Good Luck!

Rick Schwartz






8 thoughts on “Need, Want, Desire, Fully Defined Like Never Before! What it Means to You!

  1. Altaf

    Good Morning Rick!
    Nice & great thoughts. But ‘wants are unlimited’. Need has no boundary. Desire only fulfills with efforts. Value is mere intrinsic. Price is determined according to situation, varies in different times caused from need/demand and scarcity/supply.

    Reply
    1. Rick Schwartz

      And that is why you only have rainbows when certain conditions are present. So it becomes foolish to waste time looking for a rainbow or a sale when those conditions are absent.

      Reply
  2. UFO

    Great domains are becoming ever increasingly more valuable simply as margins get squeezed and volumes increase, then those that get the traffic will certainly be able to substantially grow.

    There will come a point that the additional cost that the likes of Ebay charges its sellers will make their products too expensive relative to those outside of Ebay. Trust will make the difference. A great domain will make the difference.

    Take Ebay UK. The average waiting time on their phones today has been 25 minutes. Absolute crap service.

    See, you can get generic product and sell it for 11% less than Ebay simply by having a decent URL to put it on. 11% is a lot. Sell 100k a year because of a great domain then thats worth a 100k domain, never mind if you can up sales from there.

    Reply
  3. domains

    Used to have focus, desire, need and want.

    Been a change of plans the past few weeks and probably not attending traffic. Bummed out.

    Selling off a good part of my portfolio probably. The domainer pool will shrink in 5 years, mark my words on that one!

    Good post…

    Reply
  4. Ramahn

    It’s all about business. The internet is THE medium. Investing is domain names is a no brainer to me…as part of a business…whether or not domain investing is ‘the’ business or not. Take advantage of all of opportunity out there.

    Good post Rick.

    Reply
  5. Jonathan L

    Collecting and trading stamps, coins, baseball cards, wine and even cars is a comparable business. The elements of business that Rick suggests are crucial to any successful business model; Need, Want, Desire, Value and Price are ever present in successful “businesses.” Domainer’s are no different that any collector, trader or seller but have a much greater potential +.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.