Launching point interviews Adam Dicker
Below the show notes of the interview on the podcast “Launching Point”
Person before the “launching point”
A hard-working, driven, computer focused almost geek. Always set goals for himself. In a good job, had a young child with another on the way. Was driving a company van and boss blamed him for a mistake the boss made and terminated him. He could do one of two things: crawl in a corner or do what he did, which was faxing out resumes for five days straight and ended up picking up another really good job. You have to go through the hard and low points before you can enjoy the launching point and go on to things bigger and better. Eventually started his own computer store and ran his own ISP service. Lucky enough to be the VP of GoDaddy for about four years.
Started with the computer store and then the ISP service. Realized he could make money while he sleeps with the ISP service. You can’t get rich working for someone else, all you do is make them rich. He was working on his businesses on the side. He would come home from work and then work until 2 or 3 in the morning on his side businesses. After a while they started making as much money as his full-time job which was a big turning point and that it had legs and he was heading in the right direction.
Obstacles preventing from launching
Adams launching point also new some obstacles. Family, wife, parents. They didn’t believe he should walk away from a six-figure job with benefits to go try something that may or may not work. Realized as an entrepreneur that you have to take chances or you’ll never get out of the cubicle. He went against everyone’s better wishes and decided to go for it. You learn who your real friends are. You put your blinders on and you aim for your goals and you make sure you don’t do anything to interrupt your goals. Has a bell on his desk and everyday since he started he’s had goals and when he hits the goals he rings the bell. Still rings the bell today. Treats every day as if yesterday never happened. Treat every day as he has to make enough to feed his family. You have to focus. It’s a 24-hour job when you’re running your own business, but the difference is that you actually love what you do.
First entrepreneurial venture and courage to launch
You get into something that’s new and you’re learning every day. He was able to learn all about it while he had his full-time job watching a server room. So, he could build it day by day. The most important thing you must have is common sense. Life is all about negotiation and sales even if you’re not selling directly or just talking to your spouse. Took less of a risk since he was doing two things at once and he was getting no sleep. He did it for about five years.
Mostly financial commitments because he had a family with four kids. His wife is a worrier so he had to manage her expectations. Had to make sure there was enough money to pay the bills. You can be rich with money, but you’re only wealth with time and now I have time. You learn from your mistakes, you don’t learn from your successes. If you’re going to take the leap, make sure you have three to six months worth of expenses saved up.
Impact of entrepreneurship on personal life
Wife was complaining that he was working so much and he wasn’t around for the family. Her dad sat her down and said, “Look, he’s not out drinking. He’s not out with other girls. He’s not out gambling. He’s out working to make a better life for you and your kids. So, back down and be quiet and let him do it while he can.” Never heard from his wife about working too hard again.
When he started to learn the industry and make his first money. When the money he was making was stable and definitely more than he was making at his full-time job. It felt good. It’s twenty years later and he still doesn’t feel like he’s done 5% of what he’s going to do in the internet space. He’s been voted one of the top ten most influential people on the internet and he still has more to do.
Present day entrepreneurial venture(s)
Still involved in the same business. Does speaking and conferences. Runs the largest domain name forum on the planet where people can go learn about domain names called dnforum.com. Started AdamDicker.com so he could help pay back all the information he had learned over the years to help people get themselves into a better situation. He teaches courses on how to buy and sell domain names for profit. Owns 38,000 domain names. Changed focus to helping others build businesses.
Changes as an entrepreneur and a person
He didn’t have any time before. So, now he has time to do what he loves and pay it forward. He has time to work with a lot of people and help people grow and change. He really likes helping people achieve their goals. He’s very approachable and level-headed. Loves going to conferences and meeting people and hearing their stories. Just a better person overall.
Going back to the beginning, what would do differently
Do it sooner. Grow up a little faster. He didn’t grow up until his wife told him he had to. Take the chances sooner. Have confidence in yourself, but don’t be cocky. Know what you’re doing, jump in, and make a better life for yourself.
Book recommendation that embodies journey
Teaches you how to read people in every situation. Teaches you how to make people more or less comfortable. People are more apt to buy something from you if they’re comfortable.
Three actionable steps:
- Before you get to the launching point, you really need to read, read, read before you jump into any business. You really have to educate yourself.
- Time management. Make sure you organize your day the same way every day.
- Don’t over invest when you get started. Keep your budget down as low as possible.