An employee spinout is a startup founded by one or more former employees of a company in the same industry. They are often met with hostility by the parent company, but sometimes the relationship can be amicable. I am looking for stories about the nature of the ongoing relationship between spinouts and their parent firms.
Three-letter domains and a Chinese perspective.
Here’s a look back at the top stories on DNW last month (as ranked by views) plus a link to all of the new podcasts.
1. It’s crazy that 3 three-letter domains dropped this month – People are letting valuable domain names expire.
2. Meet Yue Dai, the man who owns the most two-letter .com domains – Chinese domain investor Yue Dai has a stellar domain name portfolio. Read what he thinks about the domain market.
3. GoDaddy goes vertical with Neustar registry acquisition – The world’s largest domain name registrar will become a wholesaler of top level domains.
4. Redacted Whois at GoDaddy: a revenue hit but better customer experience – It’s time for GoDaddy to make a change but it needs to manage the revenue downside.
5. Amazon slashes affiliate payouts up to 80% – Website owners that depend on Amazon’s affiliate program got unwelcome news in April.
What this domainer learned – Listen
Domains in Hollywood – Listen
Bored Humans – Listen
Liquidating your domain names – Listen
Post link: Last month’s top 5 domain stories
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As entrepreneurs and leaders, we talk a lot about the importance of communication. We’ve built up an arsenal of great tools that help us effectively reach our employees and customers, from company-wide emails that provide updates to employee offsites that provide an outlet for professional learning and team building. However, one critical tool continues to be underutilized and undervalued: the power of storytelling.
We all love stories and we are all storytellers. Stories are what differentiates us as human beings. It’s how we forge connections with each other and build trust within our communities. Each story is an emotional journey that reinforces shared values, beliefs and vision in an effort to relate to one another. We need to feel that we are part of something greater than ourselves.
The greatest entrepreneurs are master storytellers. They understand a shared purpose and align the values of their company with the product or services they create.
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Here are the three ways you can use stories to establish trust, truth and loyalty in your business today:
Stories of the past build trust
As entrepreneurs, we must encourage and empower ourselves and our teams to share stories. The more personal, the better. As we continue to live in a WFH environment, we must break out dedicated time to foster this sharing and connecting. Bring your team together to share stories that aren’t explicitly tied to the day-to-day work of your company. Remind your team of the origins and the “why” of your business.
Stories of the present tell the truth
President Barack Obama reportedly read 10 letters a day from regular American citizens, stating that it was a way for him to remember that his job was all about the American people who were living their lives and looking for help.
Great leaders and great entrepreneurs consistently stay connected with all levels of their organization. They make it a priority to create a strong culture that values daily communication and provides the opportunity for everyone on the team to have a voice.
During the current crisis, entrepreneurial leaders are making business decisions at lightning speed, while others are pivoting their entire business overnight just to survive.
The best way to stay agile and quickly act during tough times is to connect with your existing customers. Create a platform that encourages your clients or customers to share stories about their current struggles. Through this storytelling process, how can your business provide a product or service to help those you serve? Is there a way to pivot one of your existing products or services?
Listen more and say less. Take notice of how your customers’ needs have changed in recent weeks and offer solutions.
Stories of the future inspire loyalty
Times of crisis are an excellent opportunity for entrepreneurs to communicate stories with incredible vision for the future, showing empathy, advising with humility and providing optimism for the future.
When times are tough, your team is looking for someone to lead the way, and to show them that there is great potential ahead. You must set a clear vision and advise with humility. Those who are great leaders never forget to remind their team where the company is going and, if everyone one works together, the future is very bright.
Stories remind us that through tough times, we will come out the other side stronger, wiser and more unified than ever. Stories bring us back to the beginning and remind us of who we are and what we do. Stories create clarity in our purpose and a vision to get there. Entrepreneurs who master the art of storytelling have the power to evoke innovation, show adaptability and reinforce resilience in all of us.
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I was wondering, are there any stories of any notable hardware-based/tech startups which have made it big in a manner Nike did?
For reference, Nike imported famous Japanese sports shoes called Tigers and sold them across the US. Based on customer preferences and co-founder Bill Bowerman's genius, they were able to produce some innovations that gave originality to their brand. After around 10 years, they separated from the Japanese firm and starting manufacturing their own shoes (by that time they were already pretty big).
I'd appreciate names of companies you have heard about which have gone this way. Books and other references are also appreciated. TIA 🙂
Especially during this whole crisis I've been thinking about the strengths and weaknesses of capitalism. One of the things that bothered me was that the majority of the Rags to Riches stories were false. People like Warren Buffet are hailed as folks who started poor and became billionaires but Warren his family was never poor to begin with. His grandfather owned businesses and his father was a congressman who also owned an investing firm (hence why Warren got interested in investing). I'm not trying to devaluate Warren his incredible mind that allowed him accumulate billions, just saying he wasn't really poor. Plus his upbringing is an upbringing many poor people can only dream of. Ergo it seems like it takes wealth to create more wealth. So what are some real examples of people escaping poverty? I'd love to read your stories.
Welcome to this week’s Sunday’s Success Stories Thread.
A lot of us get way too hung up on the destination and the fact that we are not there yet.
It is important to take a moment to reflect on a great quote from Agents of S.H.I.E.L.D., “The steps you take don’t need to be big, they just need to take you in the right direction”- Jemma Simmons
This is extremely relevant to all of us in this community. We should all be more aware of the successes we achieve every day that carry us closer to our goals.
Celebrating these successes, no matter how small they are, allow us to stay motivated, focused, and happy while we struggle to achieve dreams of various sizes.
The purpose of this thread is to share our successes from the week with one another and have something to celebrate together.
So, let us know what successes you have achieved this week! Nothing is too small or insignificant!
#Because this is meant to be a safe place to support emotional and physical health there is a zero tolerance policy in effect. Be KIND. Be sure to report any conduct that is in violation of that key tenet.
You can also find more support using instant chat on the /r/startups discord.