We had the good fortune of connecting with Daniel Dye and we’ve shared our conversation below.
Hi Daniel, how do you think about risk?
There is no reason to take risks. If you fear embarrassment, rejection, or failure, remind yourself that the pain of regret is the worst there is. One day you’re going to die, and you won’t be able to do the things you can do today” – Steve Jobs. I always try to fall back on this quote when thinking about taking a RISK. Throughout my life I have found that almost all risks can mitigated by research, experience and sometimes a bit of faith. A favorite book of mine, Overachievement by John Eliot states, “All your eggs should be in one basket, so you’ll be single-minded.” I think this really relates to the fact that we cannot accept from the start we have a limited number of eggs and baskets. As it relates to risk, I always prefer to use these combined approaches, in an any new venture or other such related things. No risk, no reward. A simple analogy I would use is when a friend tells you about a new T.V. on Netflix and you decide to watch it, you could be risking one hour of your time, that time has value – how did you evaluate that risk, was it a complicated process? I always tr try to remember even when I do I fail or fall short of my goals, I have learned something, I have gained experience, and I have grown as a person. It has been said that Thomas Edison once failed 10,000 or no 5,741 or umm no 987 times in making a light blub to which he replied to, “No I just discovered X amounts of ways not to make a lightbulb.” Which while incredibility motivating also shows up even experts are not always right. Throughout my Life and Career, risk taking has played some important roles. In looking back, I think it created quite a few positive opportunities and experiences for me. Whether in business, personal life, education. While I wish I could list all of them, I will try and site a few examples from my past. Quite some time I had the opportunity to buy the domain name, YQ.com. This was before Google dominated all things, search related, and “Yahoo” was one the top search engines. Through my research and due diligence, I knew Yahoo was working on a project called “Yahoo Answers” a public forum where users could ask questions, and other users would answer them for them, the expected daily traffic estimated around 100 million users per day, which meant the financial opportunities for a domain such as YQ.com was endless. At the time domains of this type were selling for up words of mid seven figures. While the cost to acquire YQ.com was high the high five figure range, it was an amount which I had disposable at the time, and my assumption was in the worst-case scenario since it is was a two-letter domain name, and due the limited number of them available it should hold some value. Sadly, Yahoo decided to change Yahoo Questions, to Yahoo Answers before even launching the project making my sound investment and dreams of come back to a crashing reality. While my theory of two letter domain names held true for domains, such as FB.com and AD.com and about 93 others selling for an estimated combined 63.5 million. For my part it turns out “Y” & “Q” are just not that popular of a letter from the alphabet. While I would say this is a clear example of a risk, and a major failure I did gain an amazing experience and bit of knowledge from it. Later in life after helping cofound Native Rank, Inc. a Digital Marketing Company, specializing in Local Websites and Local Seo, through previous connections and networking I was afforded the opportunity to buy the domain name LocalSEO.com on behalf of the company, which is probably the single most value domain name, in the incredibly large and ever-growing world of internet marketing.
Can you give our readers an introduction to your business? Maybe you can share a bit about what you do and what sets you apart from others?
The core businesses, are Native Rank, Inc, and LocalSEO.com. The goal of each company is to help other companies share their stories, products, and services the to the world, through intelligent website design, seo, and data analytics. I wouldn’t say it was an easy road, but a through passion and drive by all those involved the company has evolved into the one the leaders in the digital marketing space.
If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
Favorite spots in the city, I would have to say it would start at Elway’s for dinner. You can’t visit Colorado without taking in the mountain’s, a quick day trip and maybe a hike in the conifer area. Depending the time of year, going to an Avalanche game. The Colorado History Museum is one of my favorite spots around town. Boulder Falls, is always a must see in the summer.
The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
George Avery – CEO Native Rank, Inc. / LocalSEO.com My Children, and their amazing support – Amaya, Eloy, Isaiah John Eliot PhD – Author of OVERACHIEVEMENT So Many people throughout my life, I could never name them all.