I know a friend, whose blog was hit by Google Panda update. He probably lost quite a bit of traffic and then he wanted to quit because he probably felt bad about poor reward/risk ratio. Another friend of mine worries about the investment he has made in an application development and the fact that he has not made any money off it.
The blogging world recently has been turned upside down by the massive hits from Google panda. It the technological 10X factor that Andy Grove talked about in his book “Only the Paranoid survives” and that I covered here. The algorithmic changes are shaking the blogging world like a giant shakes a house of dwarves. Many bloggers, who were not using wrong tactics, too suffered form the shakedown.
Technology hurts ?
Often change of technology or any other business circumstances cause disruption to the business even to the extreme extent of forcing it to close down. It has happened to most entrepreneurs. The most “lightning” idea probably did not take off. Customers rejected the product who you thought had excellent potential. Your app that you developed did not fetch you the billion dollars you were expecting
Its all part of the game and we have to play it day and night
Most of the businesses of today started from a backyard or garage of business owners many years ago. The founders did not imagine to be that successful that they are in those days. However, they probably never cared if they were going to make tonnes of money. All they did was build relationships and worked towards getting right opportunity. The best businesses of today put their customers first and listened to them. They persisted even when their businesses had no defined revenue model or even a path to follow.
What does this mean to entrepreneurs like you and me ?
The next obvious step when the business is not working is to quit.Quit because
- there will not be much to worry about afterwards.
- you have fallen in line as others
- you will get more sympathy than snide
- you can save now whatever you could lose
Hard but more rewarding to take following steps.
- Fight back
- Create something new
- Build relationship
- Cut expenditures
Which path would you or I take? What did successful businesses of today do 20 or 30 years back?