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Opporuntities and Oculus Rift

Opporuntities and Oculus Rift

The past couple of weeks have been incredibly busy but in a good sort of way. I sat down with my business partner (David) and we had a page full of great ideas, serious partnership opportunities and a number of realistic possible investments. Faced with this plethora of options is any businesses dream.

As an example, one possible partnership will potentially add 30% to our client’s revenue line at ParkLogic. We’ve already put together a test and it will be interesting to see how it pans out over the next couple of weeks. It’s constantly looking for ideas like the one we’re testing that get me excited about the domain business.

ParkLogic Next is progressing forward and we have a number of clients migrated across to it already. The client interface that we demonstrated at NamesCon was an instant hit but we still have a lot of plans to refine it further. The goal is to place decision making metrics in the hands of clients.

So with all the things that are happening and opportunities available how do you choose the right ones to work on? A lot of it has to assessing both the business impact and potential downside risk. For instance, we were looking over a detailed business plan for a particular venture this past week and spent most of the time assessing the “when to pull the plug” scenario.

It’s great getting caught up in the excitement of a new idea but working out when you’ll cut it lose if everything doesn’t work out is vitally important. I’ve seen many people almost get “pot committed” and feel they have to add more and more cash into something that’s actually failing.

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