Hear ye, Hear ye, harrumph harrumph (hugely important and deeply meaningful 2000th post inside)

I'm here today to tell you about the most important thing I learned between posts 1 and 1999.

But first, a story. I love stories, don't you?

Back in the days when domains were expensive -- we're talking early 1990's -- I was single and barely getting by. I registered a domain for my fledgling antiques business. Only later did I realize what I hope all of you know: the challenge of driving paying traffic to a standalone site like that is tremendous. But I liked the name and kept paying renewal fees.

Fast forward to 2011. I'm in Silicon Valley, married and doing well with my businesses. Out of the blue a Hungarian woman finds me, even though the domain is privacy-protected, and makes me an offer: $2,500. She represents a European company with a very similar name. My domain (diadem.com) is shorter and easier to remember.

I thank her but say no. And I wait.

Two weeks later she politely asks if I'll counter.

I do some research and find that diadem.net is for sale at $3,788. I also learn that a commonly-used price multiplier for .com vs .net is 2x, which values the domain at $7,576.

However, since she had initiated the negotiation, I say I will accept $6,818 and we can split the escrow costs. And that's what happened.

Here is what I learned.

I was able to hold out for more money because I didn't need it.

Let me repeat that.

I made $4,318 more -- for the same property -- simply because I didn't need the money.

I learned how wealth works. True, my transaction was on a small scale but it's really as simple as that. People are able to hold out for million dollar deals because they're not starving or six months behind on the mortgage.

Basic stuff, sure. But that's a lesson I will never forget -- and don't you forget it either.

If you're in a position where you have to sell your belongings for whatever you can get, figuring out how to escape that life should become Job One. Work two jobs if you must, eliminate unnecessary expenses, start a business doing something you're already good at, whatever.

Even better, figure out how to get paid more for working the same amount of time -- I did that not long ago. Cut up your credit cards. Learn how to do without. Keep doing that until you have a nice solid cash cushion you can rely on.

Money attracts money. Sock some away today. Get more. What I wish for you is the power that comes from knowing you can walk away from a deal and lose nothing. Now that's Warrior proud!

fLufF
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