Jamie Siminoff launched DoorBot – a doorbell with security features – and had amazing success, pre-selling $250,000 worth of product on Kickstarter, selling millions of dollars of product after an appearance on “SharkTank,” and being recognized as one of Time magazine's top 10 products of 2014.

But it wasn't until he took a big risk and upgraded the DoorBot brand to Ring (and Ring.com) in 2014 that it all came together and sales really took off.

In this interview, Siminoff provides advice to other startup founders on the power of a great brand, tactics for negotiation, and how much to pay for a premium domain name.