30 Jun 💡 Tuesday Tips, 6.30.2020
If your business is dependent on a platform you don’t own, you’re screwed.
Does that sound uncharacteristically alarmist of me? Perhaps, but I’m trying to make an important point. When I see people who have staked all of their income on a social media platform they do not own or control, it’s a concern. When an employee works for someone else, there’s no way of knowing what the future holds. The owner could sell the company or turn it over to family members that don’t care. The company could go bankrupt or close down. The boss could change the rules or work schedule. You just don’t know.
The same is true with social media. You really don’t know what the future holds and if you have built a business around:
+ I only run FB ads to bring in new revenue.
+ I’ve spent 20,000 hours on LinkedIn and I know it backwards and forwards. (To the exclusion of anything else.)
+ I only focus on my YT channel.
+ Our whole business is showing people how to blow up on IG.
what would you do if that platform ever went away? What would you do if you were ever banned or had your account suspended?
As a farmer, there are times when it astounds me how far removed from agriculture that modern society has become. Too many people assume food just magically shows up on a supermarket shelf. They don’t know how to plant and tend a garden, can their own food, get creative with whatever ingredients are on hand. Just use an app and have something delivered to the house.
In the same way, you can become too dependent on outside sources with your business or self-employment. Again, it’s not about sitting around pessimistically expecting a zombie apocalypse; it’s about leveraging yourself well and knowing you can survive in the event of an unforeseen problem. Putting all of your eggs in one basket and hoping it lasts forever is not a good strategy.
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