(Mods I wasn't sure where was best to post this, I chose here because it has strong implications for this business path usually and both the examples directly relate. Feel free to move it though if you think there is a better subforum!)
MJ's 5 commandements in a business; need entry control scale time
Sometimes we comprimise on the CONTROL to get our businesses going especially with Internet/Technical stuff as we try and use the big dogs to help us.
It's a dangerous game, but sometimes it can often be a risk worth taking. (that is if we are aware that it is a risk. Sidenote; thank's MJ for making me aware!). But we can learn from others the potential pitfalls and maybe limit the risk too by aniticipating when to cash in or anticipate changes and be ready to take advantage of them even.
I've just found 2 interviews on Mixergy relating to two real businesses who are excellent case studies of this.
I've only just started listening to the first one, but thought I better post it here before it goes under the paywall. They're currently FREE so if you're not a member watch the videos or download the mp3 for later use now.
First is about someone who created a business turning over $700k a year using Facebook business pages. I'm only 10mins in but already it's excellent (A truly great business parable!) what he did to anticipate Facebook's changes moving to a timeline structure (which is said to have destroyed a billion dollar industry) and increase his revenue by 30% too has been mind expanding already.It just shows if you're willing to think outside of the conventional "in the box thinking" what you can do.
http://mixergy.com/nathan-latka-lujure-interview-2/
2nd one-
I haven't listened to this yet, but it's about the owner of TwitPic who were turning over $1.5m and had offers for $10m to buy the company. Then Twitter built a photo sharing service into its product by partnering with his competitor. As it says below, he's doubled his revenue to $3million though, so should have some interesting insights too.
Twitpic Is Getting Hammered By Twitter, But Doubles Revenue To About $3 MM – with Noah Everett | Business Tips
MJ's 5 commandements in a business; need entry control scale time
Sometimes we comprimise on the CONTROL to get our businesses going especially with Internet/Technical stuff as we try and use the big dogs to help us.
It's a dangerous game, but sometimes it can often be a risk worth taking. (that is if we are aware that it is a risk. Sidenote; thank's MJ for making me aware!). But we can learn from others the potential pitfalls and maybe limit the risk too by aniticipating when to cash in or anticipate changes and be ready to take advantage of them even.
I've just found 2 interviews on Mixergy relating to two real businesses who are excellent case studies of this.
I've only just started listening to the first one, but thought I better post it here before it goes under the paywall. They're currently FREE so if you're not a member watch the videos or download the mp3 for later use now.
First is about someone who created a business turning over $700k a year using Facebook business pages. I'm only 10mins in but already it's excellent (A truly great business parable!) what he did to anticipate Facebook's changes moving to a timeline structure (which is said to have destroyed a billion dollar industry) and increase his revenue by 30% too has been mind expanding already.It just shows if you're willing to think outside of the conventional "in the box thinking" what you can do.
http://mixergy.com/nathan-latka-lujure-interview-2/
2nd one-
I haven't listened to this yet, but it's about the owner of TwitPic who were turning over $1.5m and had offers for $10m to buy the company. Then Twitter built a photo sharing service into its product by partnering with his competitor. As it says below, he's doubled his revenue to $3million though, so should have some interesting insights too.
Twitpic Is Getting Hammered By Twitter, But Doubles Revenue To About $3 MM – with Noah Everett | Business Tips
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