Wednesday, December 26, 2012

Future Proofing: Selling (Part 2 of 2)

Today is Boxing Day.  For those who are not acquainted with this holiday, it is not a day of celebration of the sport of boxing, but rather a day where everyone takes the presents they received on Christmas and returns them to the store and tries to exchange them for something more desirable to the recipient. 

In our continuing series on Future-Proofing, I asked an important question last time: When are YOU getting out of the bot business?  First, let’s go over why this is an important question:

Last time I said that successful people answer questions long before other people consider asking them.  Successful people know when they are going to leave a job before they accept the position.  Successful people know when they are going to sell a car, stock, etc before it is purchased.  When bidding for auctions, successful people know how much they ultimately will bid.   Impulse buyers get caught in the hype and bid emotionally.  The same principle applies to businesses.  Successful people know when they are going to leave the business before they decide to start one.

But when most of us got into this, we were not thinking that way.  When I started, YATbot was the bot I used.  I got into the bot business as a way to get cards so that I would not have to purchase them from bots or WotC.  In this manner, I could continue to play the game without spending any currency.  If I made a profit, well, that was a nice bonus.

Turns out that bonus from YATbot was enough to expand to have multiple copies running and grew enough to make a nice little part time business out of it.

When MTGO v3 came out and it became apparent that YATbot would not be upgraded, instead of simply trying to sell off my inventory for pennies on the ticket, like so many others were doing, I decided to find another bot program, MTGO Library is what I settled on and I am glad found it.

That’s all well and good, but what does this tell us about when to quit the bot business?

This incident told me that I was willing to fight to stay in this business.  Which means that I am not going to want to give this up any time soon.

But I have since drawn up a succession plan.  My wife can run this business.  If my kids get interested, I could pass off this business to them.  If I wanted to sell, I know a few people who could be interested in learning about this business and I could unload that way.  In a sense, this business could go on, even if I am not around to do anything about it.  But that hinges on one final thing, and on that, we will conclude this series on Future-Proofing, next time.

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