To illustrate the other side of success with development here’s a tidbit from a recent announcement by the Russel Beattie, ex-Yahoo mobile evangelist and founder of Mowser:
"Seriously… A salary will be a good thing to have again. I’m *thousands* of dollars in debt to my family and friends, maxed out on every credit card (all of which are in collections), on my last chance for my apartment (if I bounce one more check…), had my car repossessed *twice*, electricity turned off, cellphones switched off, landline canceled outright, and on more than one occasion (this weekend in particular) eaten little more than buttered macaroni as I waited for an overdue PayPal deposit to arrive (3-4 days? Come on!). Having a steady income will be a welcome mental break, believe me."
What domainers should do then? I think the better question would be, what beachfront property owners have done over the years? Have they developed, sold, partnered? And if you do decide to develop, how many of your properties can you really develop and develop well? This last question is one I keep asking myself few times a day as knowing what development takes I fully understand the chances of us ever developing 0.001% of our portfolio are slim to none.
Source: Posted on TheConceptualist by Sahar Sahid -- Reprinted with permission -- April 15, 2008