Million Dollar Business: A License to print MONEY
MONEY.CA a domain name registered by an Ontario Chartered Accountant over 10 years ago has finally come of age. I had thought my time had come and gone, my riches and my best ideas and hardest work would now be in the past. Never give up is the moral of this story as the well qualified C.A. said to me as I called him for over 2 years to talk about the possibility of making the site into what it is supposed to be. Although we had talked many times over the phone and he considered many of my ideas as idle chatter, the one day he said something that surprised and delighted me. James you are are a smart young man and all your ideas are infectious and it seems you have the spirit and ability to accomplish all the things you have mentioned over numerous phone calls and hours of discussion. This gentleman not only insisted that I buy this important domain but to also implement all the good ideas we talked about. The C.A. made it all possible for a very reasonable price of $25,000 and over some period of time was an offer I could not refuse.
I have done a lot of research on my keyword site, I did not know that the word “MONEY” was randomly searched over 36,000 times per month worldwide. That is quite impressive and so is the fact that there are over 1 billion articles of information when searched; only love and sex rated slightly higher.
I soon realized that corporate Canada was buying into the internet as the Internet Advertising Bureau reported last year that the Internet Advertising industry was finally a billion dollar a year industry in Canada.
When I researched further to find that companies like BDO Dunwoody owned www.bankruptcy.ca and TD Bank owned www.insurance.ca and the Bank of Montreal owned www.mortgage.ca I was certain the acquisition of money.ca was a good thing, a very very good thing.
I have thought of many ideas but only one of them would become my overall business plan. How do I make money and what is the best way to go about it. I realized as time goes by the domain itself would grow in value, now I had to ask myself how do I go about implementing my idea or do I just sit around and wait to collect the millions of dollars of return on my investment or do I do the one thing and the right thing and fulfill the destiny of money.ca.
I have indeed thought about it; MONEY.CA may have been one of the priciest domains in Canadian history at $25,000.00 and several high level domain owners have told me that I outright stole it and in actual fact it is worth quite a lot of money a lot more than what I had paid for it.
Upon further research I decided to register Money Canada Limited as a corporation and go ahead and implement some of my well-thought out ideas. Ted Turner had the right idea; CNN and the boys over at Time Warner gave me my official business plan. Without re-inventing the wheel I found that this super-conglomerate that owned MONEY.COM, Time Magazine, Life Magazine and of course MONEY Magazine was quietly spelling out what I should do with my business and business plan. The only thing different was the Canadian content; I would indeed create The MONEY Magazine publication and promote it with MONEY.CA; after registering my company as a magazine in Canada I was the proud owner of a small but meaningful tandem. In January as a recognized associate of Heritage Canada and more precisely the Canadian Magazine Fund, we are now set to go to store shelves and compete with some of the biggest and best conglomerates Canada has with the distribution help of Disticor.
We are creating our own opportunities where there was none, we are no competing with giants and have a chance to win with shear hard work and determination. We will be one of those success stories you hear about once in a while because we will do the right things at the right time. We have grown our roster of financial writers, bloggers and authors to 40 in less than 1 year and look forward to more controlled and sustainable growth.
If you have any good ideas for our small but growing Canadian company we want to hear from you, your ideas thoughts and information are rather important in the early phase of growth, yet we will never cease to listen carefully to all the feedback we want and expect in order to deliver a better product and service to our customers, MONEY Members and our advertisers.
Posted: October 7th, 2009 under money.