Mike McConville, Founder & CEO of M2C digital, was interviewed on the Mission Matters Innovation Podcast by Adam Torres.
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In this insightful interview, Mike McConville discusses the importance of securing the best possible domains early on in any business journey.
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What mission matters to you?
Purchasing a domain can be an uphill battle for buyers, McConville explains. Investors have the advantage since they saw the potential of the domain early on in the Internet age and snapped up what they presumed would be the most lucrative options. “My mission,” he says, “is to level the playing field between founders, startups, small business owners acquiring the domain for their business and the investors who have been selling them since the early ‘90s.”
M2C Digital’s focus, he says, is to introduce more fairness into that dynamic.
How did M2C Digital come into existence?
After running several businesses over the years, McConville, now a five-time entrepreneur, made it to the Inc. 5000 in 2009. When he tried to correct his brand’s website hyphenated domain to simplify it, it cost a couple hundred thousand dollars. This startling expenditure was a light-bulb moment, making clear the lack of representation that typically exists on the buyer’s side and the level of disadvantage it creates. “Later on, when I stumbled upon the outbound domain brokerage industry and found my colleagues representing the sellers,” he says, “I knew I had to represent the buyers.”
Why is a business domain name so significant?
“People encounter the domain names of the businesses much more than just as the face of the brand,” he explains. “Not having the ideal domain becomes one of the red flags that (people might think) reflects your low commitment to your business. The right domain name is necessary for your business to be believable and trustworthy to your venture investors and consumers.”
What are some challenges of the domain brokerage industry?
Anything that makes a brand more noticeable—be it a key hire, a product announcement, more funding, or a conference—can increase the domain price from attainable to stratospheric. Businesses often end up providing too much information to the investors (i.e., sellers), inadvertently adding to their own hurdles.
“The reason behind this,” McConville explains, “is lack of knowledge, which we’re trying to bridge by getting our clients ahead of the curve.”
How do M2C Digital’s services help its clients?
M2C Digital’s focus is to upgrade businesses’ domains to those befitting of their brands. “Our key weapons are the tools and resources accumulated to determine the perspective and personality of single domain acquisition against the seller’s access to information,” its founder and CEO says.
When asked about the engagement process, he explains how they help clients get ahead of the curve. “We first ask for exclusivity for a period of time, typically about 30 days, during which we put the buyer in power by controlling the anonymity and other price-inflating factors,” he says. “Once we reach the end of the negotiation, we create the plan with the buyer, discussing the budget and the right time to make the purchase.”
Whether you’re interested in purchasing a domain name for an individual, a small business, a startup, or an institution, M2C Digital can assist you in taking hold of the best options available by getting a step ahead of investors who have the upper hand. To sum up, Mike explains, M2C makes domain acquisition an easy path by providing the knowledge a buyer needs to make the purchase at a fair price.