$0

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.

Elliot Silver
Elliot Silver
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 closed eight figures in deals. Please read the DomainInvesting.com Terms of Use page for additional information about the publisher, website comment policy, disclosures, and conflicts of interest. Reach out to Elliot: Twitter | Facebook | LinkedIn

9 COMMENTS

  1. 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!

  2. 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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Recent Posts

Handoff to Dan on Imported Leads Can be Confusing

0
I've been using the lead import option at Dan.com more regularly. Although the 5% commission is not ideal, transactions tend to move more quickly...

ArtificialIntelligence.com Goes Up for Sale

7
I tried to buy the ArtificialIntelligence.com domain name multiple times over the last 10 years. The emails I sent to the registrant went unanswered,...

EU Gives More IP Protection to Food & Drink Producers

0
Did you know that some well-known food and drink varieties are protected intellectual property regulations? Popular types of drinks and foods that are protected...

Price Testing

1
In 2022, my wife and I decided our kids were ready for some big mountain skiing and we planned a trip to the Rocky...

GoDaddy Making You Sign in to See What You Renewed (Updated)

3
This morning, I noticed something different in a domain name renewal email from GoDaddy. Instead of telling me exactly what domain names I renewed...