Having options means you can accomplish things faster, and more efficiently – as long as you’re willing to make decisions.
When the road ahead is a single route, you are constrained by the definition of that road; its bumps or twists determine your only navigation of it and the speed of your progress.
Options are the crossroads, where one has to make a decision to go left or right, as opposed to straight ahead; such a choice can often improve the outcome of the journey. At the very least, crossroads make for some interesting experiences along the way.
On this last day of winter, I made a domain sale. To achieve this 10x ROI, some of the decisions I made included the following:
- This is a domain I held for 6 years. I don’t flip domains acquired less than 365 days earlier – unless the offer is substantial.
- I gave the buyer an incentive to pay less money, in order to commence with the transaction now.
- His agreement was also due to my decision to fund the escrow fees.
- The option that I selected was using EscrowHill.com for Premium Escrow, as an extra layer of security; the domain is actually held in an EscrowHill account.
- I also chose to make things easy on the buyer – and myself – and spent another $8 transferring the domain from Fabulous, to GoDaddy.
These decisions were based on available options.
I could have chosen to seek a few hundred dollars more. I could have given them two weeks to think about it, risking them getting an alternate domain. I could have been stingy arguing over less than $100 in escrow fees. I could have complicated this exchange by also passing the transfer fees onto them.
The transaction closed in less than 60 minutes, and the bank wire is expected on Monday. Optimizing one’s options is a learning process, and something that goes along with life’s other experiences as well.
Being motivated means keeping one’s options open, and willing to test and experience the many paths that come along the way.
May this last day of winter be equally warm to you, professionally or otherwise.
It’s great when your good choice of options makes a transaction roll along smoothly like this acro.
Picking up the escrow tab was a good move and overlooked by many who view this as always being a buyer’s cost or at best a shared expense.
Did the buyer want to use godaddy and you pushed it to an EscrowHill account there ready for a push across to the buyer’s account?
fizz – The Premium escrow option uses a GoDaddy account to manage the domains on behalf of the seller. Since my domain was with Fabulous, I took advantage of the time until the funds are expected to be secured, to move it to GoDaddy.