Why I'm in Business....

Michael_Gilmour

As many of you know, I’m one of the founders of ParkLogic and for over a decade we’ve been working with clients to extract the maximum possible value from their domain traffic. In blogs and at conferences I’ve gone to great lengths to explain WHAT we do and HOW we do it….but up until now I’ve never tackled the WHY….

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When I reflect about my personal journey at ParkLogic I realised that over the years we’ve developed a number of core beliefs that up until now we’ve never shared. They've actually become the reason why we behave the way we do and why we love the domain industry so much.

It should be said from the outset that this is not an exhaustive list and they are not in any particular order but hopefully it will provide some insight into how we operate.

Transparency
We believe in being transparent with clients. This means we won’t lie to you if you have a question and if we stuff up then we’ll make amends. Our focus on being open means all our statistics are what the domains actually earn, and our accounting clearly show the commission we take from managing the domain traffic. We don’t hide our commission behind smoke and mirrors.

I must say that we've received quite a bit of flack for being so transparent but we believe that it's through transparency that the industry can grow and increase overall earnings.

Good People
The domain industry is full of wonderful people….so why waste your time dealing with jerks? We believe in working with good people, serving great clients and establishing strong relationships with suppliers. We believe that doing life with people is important and that if we don't work with you now you'll have the confidence to work with us in the future. For us, everything is not just about business.

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Saturday Musings - Open Heart Surgery

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For a long time I’ve been putting off conducting open heart surgery….but this past week I decided that it was about time I pulled out the scalpel and made an incision. Thankfully, not on a human but on a platform I developed.

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Like many things in life I've been procrastinating about doing this big slab of work for several years. I’d kept running into problems because the work wasn’t done but there always seemed to be some convoluted work around that allowed me to just make things work.

Finally, in a fit of frustration I took the plunge and began restructuring the foundations of an application that literally process tens of millions of requests each day. It was like looking at a great big ball of string and the more I pulled the more the string seemed to resist.

Knots would form and quickly become mini-projects in themselves that needed to be resolved before the bigger issues could be addressed. Numerous times I completely broke the entire system and found myself tracking down some esoteric piece of code written three years ago. Grrrrr!

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Rawgi
I seem to remember 1 to 3 am as being the time you find most of the answers. Interesting. I hear that writing code is to be a sc... Read More
30 June 2018
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New gTLD Madness?

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Back in 2014 I was sharing the platform with a couple of the new gTLD registry representatives at a TRAFFIC conference (one of the last). Both of them were telling everyone at the conference that they needed to buy what they were selling before it was too late. I had a decision....should I gag myself or not?

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I listened as they both told the audience that the new gTLDs were the most awesome thing to ever occur on the Internet. To get into the gold rush all the conference attendees needed to do was secure their stake in the future of domaining!

After all the huff and puff I decided it was time for someone to bring some sanity to the debate and remove the self-imposed gag of politeness. So I waded in and attempted to pour a bucket of hard cold reality over the audience. A summary of what I said was, “There is no business model for investors in the new gTLDs.”

I then ticked off the business models. Do they have traffic? Nope. Can I buy one for $10 and sell it for $2,000? In a market of massive supply….unlikely. Can I buy a premium domain for $10,000 and sell it for $100,000? Nope. Can I build them out? I may as well build out the many .com domains I have.

Have some investors made money selling the new gTLDs? Yes. Just like some people win the lottery….but as a rule there is no sustainable business model for investors.

I then stated that I believed that as investors we were on at least a seven-year journey while the market decided which extension would succeed and which would fail. It would also provide some time to see which of the three major investment business models would become viable.

As I spoke a hush descended over the audience. I then said that some in them would ignore my advice and mortgage their houses to buy some of the new gTLDs. As their cash ran out I would likely pick up some of the domains for registration cost, post seven-years.

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mgilmour
Completely agree with your comments about the demand also the work dotCLUB and dotSHOP have done in their marketing efforts. The p... Read More
05 July 2018
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Saturday Musings - When Your Body's at War

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This past week was a complete mess for me. Monday and Tuesday were fine but Wednesday morning I woke up with a bad case of the flu. My brain was about as useful as a squished tomato and my body felt like a truck had driven over every square inch of it.

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In this sense of stupor, I developed a fresh love affair with the couch and television remote. It’s amazing how many useless shows you can catch-up on that you didn’t even know existed prior to your state of incapacitation.

It was during this time I began to ponder the important aspects of life such as; Why does every part of Netflix seem to have exactly the same shows listed? Why is it that the categorisation system for iTunes seems to think that “Top Gun” is a romantic comedy? Who thought that Disney’s “A Wrinkle in Time” was actually worth ninety minutes of my life?

The one saving grace was many of the shows overcame the drums beating in my head and sent me to sleep. So day one was largely consumed with mindless television, sleeping and answering a couple of emails…..by the way, I cannot be held responsible for whatever I wrote on Wednesday so if you received an email from me then just reply with a big question mark.

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Getting the Right Advice

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I recently said to a person, “Would you rather I cheered as you leap over the edge of a cliff or say something to stop you from jumping?” As I’m sure you can appreciate, it was a tough conversation.

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A true friend is a person that says something to you when they think you’re in danger of losing your shirt in a business deal. A Facebook friend is a person that clicks “like” at the stupid idea just before you lose your house.

The silly thing is that we often get disgruntled by the friend who is trying to provide some guidance….and in our exuberance, we don’t listen to what they are trying to say to us. After all, who are they to pour a bucket of cold water on the brilliant new venture we’re just about to invest in?

The other night, I found myself in these exact circumstances but on the other side of the fence. A few friends were trying to provide me with some good advice about a new project I was about to embark upon.

In my arrogance, all I could think about was saying to them, “So what’s the view like from the cheap seats?” Gratefully, I didn’t say the words aloud but rest assured, I was thinking them.

It took me about half an hour to calm down and realise what they were suggesting had wisdom and despite my emotions they weren’t against me. In the end, after careful consideration I decided to adopt many of their suggestions. BTW, the project I’m working upon revolves around helping a group of young people reach their full potential.

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