Monetize now or go bankrupt later

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by David Garland in David's Blog

In these lean economic times, people are panicking. Big freaking panics. It seems everyday a new company has gone under, is bought out, or is in “trouble” (not really sure what “trouble” means but that word is thrown out all over the place). 

Examples: A-B Imbev takeover. Circuit City has some major eyebrows raised with stores closing. Linens and Things? Near bankrupt. Starbucks’ huge store closing spree. 

“Great,” you are thinking to yourself, “What do these massive corporations have to do with me?” 

The answer is much more than you think. Entrepreneurs and small businesses can learn some valuable lessons from these companies and there may be a great opportunity to make money.

Here is the big one: MONETIZE NOW! Do you have big future plans with all kinds of revenue streams once you have an audience or you need “this or that” to happen before you can bring in the dough? If this is your model, I’m not going to lie you are screwed and business model could be flawed. 

Besides being necessary, trust me making money will make everything a bit more fun. 

So if you are a new web 2.0, 3.0, 4.0 or whatever.0 startup, don’t expect to build up a massive audience and then make your money from advertisers. Work on building your audience but think of alternative ways to make money now. Can you get a product out within a couple of weeks that could generate some extra income? What about private coaching?

Remember this: Those that thrive instead of just trying to survive in the downtown will explode with cash when the economy inevitably turns back around. 

Live Passionately! – David Siteman Garland – The Creative Opportunities Specialist

How To Turn Your Expertise Into An Online Course & Dream Business

Watch Now!