Most simple domain names were either not taken, or had some random content (e.g. Tigers.com was a bunch of pictures of tigers, not the Detroit Tigers MLB team).

Seeing that gave me an idea: buy a whole heap of these simple-word domains. Eventually, individuals and companies will want them, and I’d be able to sell them for a profit.

The problem was I was in college. And broke. And domain names cost $100 each. Eek.

I was eating Rice-A-Roni for dinner every day – how could I follow my ambitious plan to buy 100 domain names, and hold them until this internet thing really took off?

I knew banks wouldn’t give me a loan since I had no collateral, I felt my parents would have said “no,” and my friends were all broke too.

Thus, my only option was my grandfather, who had worked his fingers to the bone as a farmer his entire life, but for the last 10 years of his life, he made some great business moves, and so I knew he could potentially loan me the money.   

Could I really ask my grandfather for $10,000? What it if didn’t work out? My grandfather was one of my best friends. When I went to community college for two years to save money to go to Michigan, I stopped by his house every day to bring in his mail and talk for a while. I didn’t want to lose that.

If it didn’t work out, I would feel horrible around him for the rest of my life. My family would chastise me for taking advantage of him. I couldn’t have any of that. So, I did nothing.

Well, the rest is history. I know people who bought domains for $100 and sold them for hundreds of thousands of dollars. At one point, I worked for a company, who had a client that was trying to get investors to help them buy a domain for $6 million. SIX. MILLION. DOLLARS. And that domain was one of the names on my original list.

I still kick myself for not following-through on my idea.   

My point is this – never be afraid to:

1) Start with what you’ve got – I didn’t need $10k. $1k would have started me off just fine. So would have $500. Work up to your bigger vision.

2) Ask for help – My grandfather probably wouldn’t have given me $10k, but he probably would have given me $500. And if I never paid him back, he was such a great guy, he wouldn’t have cared.

3) Follow your dreams – if you have a great idea, CHASE IT. Don’t let fear stand in your way.

Today, I’m undertaking one of the most exciting (and scariest) endeavors of my life – I’m opening my own company.

I’ve been helping companies get closer to their customers, build trust and drive sales using social media in the corporate world for many years now, and now I’m really excited to be doing the same from a consulting perspective.

I’ll be providing tips at both the company and individual levels to help you build your business, set up a corporate social selling program, determine what kind of content to use, work with compliance effectively, build advocacy both internally and externally for your program, and train your team.

Big thanks to everyone that encouraged me to take this plunge!

Best,
Robert Knop