You always give up a piece of control with an internet business, don't you?

[Lukas WJ]

Hey, in the book "The Milionars Fastlane" one capital is about the control you should always have yourself. But if you build a website, for example, through WordPress, then you also give up control there, because you give WordPress the power.

And then with traffic, you don't always have the power either, you can scatter yourself on many traffic methods, but these can fall away at any time?

I am very new to the subject and look forward to your answers!

Greetings from Germany,
Lukas

 

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[OleksiyRybakov]

Full control is impossible to achieve. The goal is to maximize control though, so instead of trying to get full control you want to get as much control as you can.

 

[alexkuzmov]

Hey, in the book "The Milionars Fastlane" one capital is about the control you should always have yourself. But if you build a website, for example, through WordPress, then you also give up control there, because you give WordPress the power.

And then with traffic, you don't always have the power either, you can scatter yourself on many traffic methods, but these can fall away at any time?

I am very new to the subject and look forward to your answers!

Greetings from Germany,
Lukas

I think you`ve missed the point of the Control commandment, read it again: GOLD! - The CENTS Business Commandments for Entrepreneurs

 

[Kevin88660]

Hey, in the book "The Milionars Fastlane" one capital is about the control you should always have yourself. But if you build a website, for example, through WordPress, then you also give up control there, because you give WordPress the power.

And then with traffic, you don't always have the power either, you can scatter yourself on many traffic methods, but these can fall away at any time?

I am very new to the subject and look forward to your answers!

Greetings from Germany,
Lukas

In the long term you should aim to make the business less vulnerable to have diversification to remove a possible single point of failure that is beyond your control.

But in the short term it is general less of a concern because you haven't built anything that is even worth protecting in the first place.

But if you get involved in MLM that is by design impossible to remove the single point of failure. It should be something that you need to think twice before getting involved.

 

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[Johnny boy]

the entire point is to avoid the "told you so" moment that happens when your entire business is based off of a high google ranking, or ad traffic from facebook ads, or being in affiliate sales, where a single company could make a quick little decision and destroy your business in one single 'update'.

It happens all the time.

Google changes their algorithm. Facebook ads go up in price. Your affiliate company shuts you down or changes their payout structure. Your one big client cancels on you.

It's about being AWARE of control and analyzing your business or an idea you have to see if it violates the commandments in egregious ways, not if it's the perfect idea or not. There are no perfect ideas and there is no perfect execution. We don't need to be perfect. We just need to make sure the holes in our bucket are small enough that it doesn't all fall out right away.

I use the cents commandments to show me potential problems that COULD come up in the business. It shows me the weakest points and what to spend some time fixing. Does my business have risks because of control? Am I in a business that has too little of a barrier to enter so it attracts too much competition? Does my business solve peoples' needs in a clear way? Can I separate the money I make from my time? Can I scale this business quickly realistically or is there going to be an obvious roadblock coming up that needs to be addressed.

These things are basic but essential. And none of them will ever be perfect. Even Amazon isn't perfect when measured against these commandments, but guess what? That doesn't stop Jeff from being (rich as F*ck)²

 

[KindRibEye]

Hey, in the book "The Milionars Fastlane" one capital is about the control you should always have yourself. But if you build a website, for example, through WordPress, then you also give up control there, because you give WordPress the power.

And then with traffic, you don't always have the power either, you can scatter yourself on many traffic methods, but these can fall away at any time?

I am very new to the subject and look forward to your answers!

Greetings from Germany,
Lukas

In your WordPress example, you could have a hot standby store set up, based on any number of platforms.

There could be a Magento site, a Shopify site...

I'm doing 7 digits in Ecomm, but realistically, in any scenario where these profitable Ecomm megacorps go down, I'm not sure I'd be operational anyway.

Capitalism is powerful.

I'd be more worried about suspensions due to terms of service, bank accounts frozen due to suspected (but fake) fraud, etc.