the goose

I recently sold my first ever domain name. The domain had been used in association with a business I was involved with. Ironically – the easiest money we ever made in the venture was selling the domain name. Its hard to figure out what the value of a domain name should be but we worked out a price basedo n the number of leads generated by the site.

On an not unrelated note – my business partner in that venture sent me a link to Blacknights’ listing of expired .ie domain names. Amongst them are some potentially valuable names. Indeed there are a few company names there which should no doubt by snapped up by their respective owners.

The June mastermind went ahead this week on Tuesday. We had some new faces and some we’ve seen before. Rory O’Connor gave us the low down on how he has been trying to turn his intellectual property into a product you can kick. Instead of the usual ‘ebook’ approach – Rory has been coming up with physical products which he and his family put together at home and post out to people directly. He brought along the various prototypes of his now popular Rory’s Story Cubes. The original concept started off as a kind of rubix cube which eventually turned into dice. He has managed to ship 500 orders since Christmas. It was interesting to hear about the various trials and tribulations of getting the product out there – including problems with suppliers and the effort required to get the quality right.

Nilsson Denver had been a busy guy since the last meeting and managed to set up BookKeeper.ie since the last mastermind. For $200 dollars, using eSyndicat he now has s fully functioning directory site. All that is left is to fill it full of book-keepers.

We had two ideas on the block this time around. The crowd was a little rowdier than normal and there weren’t too many high scores being dished out. It did make for some interesting discussion however. Thanks for Dominic and Priscilla for sticking their necks out.

If the dulced tones of Bros are ringing in your ears right now – shame on you.  If not think “when, will I, will I be famous????”.  That should have done the job.  Of course we’re not all that interested in becoming famous.  We’re a little more interested in becoming rich enough to never have to work another day in our lives.  A modest enough target.  With that in mind – I came up with a little calculator to help figure out the date when the total monthly automated income will exceed our expenses.

The projects I work on tend to have hundreds of people paying tens of euro a month for some service. Each subscribers monthly fee contributes towards my target for that project. Some of the projects have an organic net growth and as such I can calculate when the organic growth will meet my target to the day. It is interesting to play around with the calculator and twiddle with the pricing and growth rate to see how it effects the ‘retirement’ date.

When will I be rich?:

Target Monthly Cashflow(€):


Average Monthly Subscription (€):


Currently Subscribed:


Net new subscribers / month: