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The beginning of January is the most difficult time of the year for my business. Each January 1, my P&L turns to $0, and I get an anxious feeling, no matter how exceptional the prior year was. I am usually on vacation until early January, making it a bit more challenging to get off to a fast start.

Coupled with the anxiety is a feeling of excitement. When I start the year, I have no idea how much income I am going to earn. The sky is the limit. For this reason, I have no interest in setting theoretical goals I could smash by the middle of the year with a few deals or struggle to meet if business sucks. Having no income ceiling is one of the greatest things about this business and is what motivates me to keep on making deals in an effort to smash personal income records.

Luckily, with advertising revenue, lease payments, and three deals that were just struck, the $0 on my P&L will quickly turn into a crooked number, but it’s always exciting when I set up the P&L for the new year.

Here’s hoping you have a lucrative 2013. I am motivated to make things happen this year starting right now.


About The Author: Elliot Silver is an Internet entrepreneur and publisher of DomainInvesting.com. Elliot is also the founder and President of Top Notch Domains, LLC, a company that has sold seven figures worth of domain names in the last five years. Please read the DomainInvesting.com Terms of Use page for additional information about the publisher, website comment policy, disclosures, and conflicts of interest.


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Comments (9)

    Gateluv

    lol !!!

    January 2nd, 2013 at 12:40 pm

    EM

    F yeah!

    January 2nd, 2013 at 12:46 pm

    Dennis Sourvanos

    Speaking of anxiety….
    AnxietyCounseling.Com … accepting offers.. lol!!

    Wishing all the best and a Healthy New Year!!!

    January 2nd, 2013 at 2:25 pm

    Howard Crosby

    Here’s to optimism and positivity :) Good times.

    January 2nd, 2013 at 3:17 pm

    @Domains

    EVERYONE starts the year at $0, even if you have a job. If you don’t show up, you don’t get paid. AND, if all you have is a job, that can get taken away if you’re laid off or fired.

    With everything you have set up, you probably earn some money each day even if you stay in bed. Even attending to a domain transaction takes little time once it’s in place. That is the beauty of online business, checking in at the beginning or end of the day and seeing what happened. Knowing that everything you’ve set up keeps working for you when you’re on holiday, at a movie, at dinner, etc. That more work can produce more results (no ceiling).

    But if thinking you start the year at 0$ gives you the motivation, go for it!

    January 2nd, 2013 at 6:26 pm

      Elliot Silver

      Sure, but there are plenty of people who go to work and coast. They can put in 8 hours, BS around, and they’ll get paid. I look at it as a challenge.

      January 2nd, 2013 at 6:29 pm

    J S

    Interesting Article Elliot,

    When it comes to online business my books start off in the negative every year, I include all my known fixed cost’s, hosting, ad spend, domain renewals, membership’s ect and start from there. All domain’s everything is paid up front for the year or put into a reserve.

    I start out January 1 in the negative! Its great motivation to get revenue moving in quicker and the wins are easier at the end of the year.

    Cheers
    J

    January 2nd, 2013 at 7:41 pm

    Jeroen

    Good luck with your personal and business endeavors!

    January 3rd, 2013 at 2:58 am

    Harry

    Impossible to get something for nothing. I am referring to your title.

    January 13th, 2013 at 12:06 am

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