Requirements To Be A Dot Com Mogul
written by John Chow on September 15th, 2006
I had a few people recently asked me what is required to be a Dot Com Mogul. I assume they’re asking because they want to know if they can call themselves Dot Com Moguls as well. To be honest, I haven’t really thought about it, nor had I laid down any rules to obtain Mogul status. Now that I’m getting a few questions about it I figure it’s time to lay out a few ground rules. So here they are.
To be considered a Dot Com Mogul you must meet all the follow requirements.
- Your income is made from the Internet
- The minimum Internet income level is $10,000 per month (you can not add income from other sources to hit this $10K level)
- You have no jobs outside of the Internet
- You have a personal blog with your name as the domain name
- Your blog must be updated at least once per week
- A Google search of your name must be at the #1 spot
- You must be willing to help dot com mogul wannabes
If you meet the all the above seven requirements, then you can call yourself a Dot Com Mogul! If you don’t meet all the requirements and you’re calling yourself a Dot Com Mogul, then remove the title now! 
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I propose one more addition to the rules.
-You must spend at least $1K/month at strip clubs.
If added, this will be the only requirement that I currently meet
Alright! I was a mogul for the month of July! Sweet
I don’t think you had the #1 Google spot for Stephen Fung back in July so you fail!
DOH! You’re right! I was only number two. I was ALMOST a dot com mogul
I meet all of those except 1, take a guess at which one it is…
Isn’t it two? Your Domain actually forwards to a Sub Domain. Week sauce! LOL!
w00t w00t, am I dot com mogul? Lately, yes. We’ll see if it becomes a constant though.
July: Yes
August: Yes
September: Probably not, but possible
You don’t have to pay any tax if you’re creative, but it’s a nice option to have when you’re a mogul
Easy – don’t make any money!
If you’re using one of the house equity manouveurs to write off interest, maxing out your RRSP’s, if needed, and using the shelter built by your incorporation for much of your income, you won’t have to pay any taxes personally, your company pays a little as incorporations have a lower rate, and you’re good to go. You’ll have to work it out at the end of the year to tie up the lose ends though. The tweaks will be different depending on your situation. So yep, possible, but maybe not for everyone.
What if your name is John Smith? How can a mogul just starting out expect to be the first hit on google with THAT? You need to adjust your rules.
It wouldn’t be too hard to hit the number 1 spot no matter what your name is. Owning the domain for your name is 95% of the battle.
Well I have three of the seven requirements so far. Not bad for a first weeks worth of trying. Thanks for the inspiration. Now just gotta figure out the 10k a month part.
How do your taxes work? Do you declare everything to the CRA?
I am a Dot Com Peon.
I have 5 of the requirements. I need to up my a little bit and income and then I will be an OFFICIAL DOT COM MOGUL! Woooohooooo!
I’m not quite there yet, but I will be someday!
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