Shocked by the title? Hold on till the end, you will find a lot of interesting aspects of an entrepreneur from this story of Jon Yau who bought the domain stockphoto.com for $2,50,000. Investing something close to that amount is not a big deal in U.S. But what if I tell you, all that amount was invested in just buying a domain.
I got to ask him about his journey!
- Thus, I’ll share with you his story.
- Why and What of stock photo.
- Witty and Humorous side of Jon Yau.
- Identifying the real entrepreneur!
You might think he’s crazy right?
But this is what I learnt from him and you should too. Entrepreneurs love taking risks and he had the guts to do so. Ask yourself, even if you had millions would you invest such huge amount completely in buying a domain. Well, investing in parts to setup a company or in already running business is okay, but something like this you?
I got a chance to meet him at DomainX 2016 held at Delhi and I tried to understand his mindset while deciding something like this. What was he actually thinking 😜? Interacting with him, I met a person totally different from my perceptions. Anyone who had read about him and his daring stuff would think of him to be a serious, business oriented guy. But only after I met him, I realised this humorous side of daring Jon You. He was so cheerful and spreading smiles, cracking jokes throughout the event. I guess that is what is the secret to his unique style of doing business and staying fit. Oops, didn’t I tell you he is 46😛!
The Jon Yau Vision
Imagine the research and analysis that must have gone in buying this domain and taking this decision. Imagine the circumstances he must have faced, imagine opinions and suggestions of people in his circle, imagine the risk. Well well, all we can do is just imagine! He was brave enough to take the decision and that’s what a real entrepreneur lives by! He also laughs at the taught How he convinced his wife to let him buy a .com for $2,50,000.
Is Stock Photo Doing Any Good?
As I already said, the research and analysis he might have put to this is un-imaginable. Let’s try to tackle What & Why’s of this decision of Jon Yau. Stock Photo as the name suggests provides stock photos to the user.
Though it may seem like he invested $2,50,000 in a domain, but he in-fact invested all that amount to grab that audience, grab those potential customers. That’s a really really smart move, that one investment cut down the cost he would have spent in getting audience.
Not everyone has such a vision, but having a vision or an idea is a different part and executing it is altogether a different ride! If someone would tell you that investing such a huge amount in a .com would turn out to be a big business, would you do it?
Entrepreneurs live by their own rules
- He had the vision for the business
- He had the guts to take the risk
- He had the guts to go against the odds, and believe in his vision.
- He grabbed the opportunity (though it cost him $2,50,000)
Let us know what you think of this bold move and share it with more people to inspire them!