|
At the end of January 2007, I was laid off from my well-paid corporate job due to one of many management restructurings. But I wasn't worried. I had some money in savings, and I had the spark of an idea.
Yes, I was going to get rich on the internet!
I had some ideas for a few websites that I was confident would cause advertising and affiliate marketing revenue to pour in. I researched drop shipping options in case I wanted to sell merchandise as well. But to say I had a business plan would be an extreme exaggeration.
I also had a backup "plan". Before I would launch these stellar internet concepts, I would pull in some business by doing technical consulting and web design and maybe a little bit of training. This would give me the additional funds I needed to hang on long enough to launch my ideas.
So what happened?
- I started "networking" vigorously in various groups throughout the metroplex. Unfortunately, since my concept of my business was vague, I had difficulty articulating my "value proposition". On the upside, I met a lot of great people and was sometimes able to help them connect to the right people or groups. On the downside, sometimes it was difficult to get any work done or even return phone calls because of the time spent networking to get work.
- Partnering with someone else, I started a local user group for a popular CMS. In the process, I hoped to establish credibility as technical resource. This worked to a degree. I now have established local credibility in internet technologies as someone who freely gives her time to help others without compensation. Not exactly what I was going for.
- Thinking a joint venture might work for me, I did some work for a portion of a startup business. "Some work" is an inadequate phrase. I put in months and months (and more months) of effort into a business that has made me less than $500 gross. (I'm afraid to calculate the net.) Due to supplier issues, it looks like that business is not going to make it.
- Yes, I did many free sites (either on spec, for non-profits, or in sheer stupidity) hoping that some of them might result in profit, profitable future business, or karma points with the universe.
- I have also done many virtually free sites where the individual was charged way below what he or she should have been charged for the effort required because of the individual's current "financial situation". This may show a generous spirit but it is not how you become successful in business.
- Occasionally, I have been paid close to the right amount for my efforts, especially when charging on an hourly basis rather than a flat rate.
- I also fell for a lot of scams and MLMs.
- The end result was that I gave away too much of my time for too little money and am now faced with a "financial situation" of my own. What's more, giving away my time to everyone else shelved my original ideas because I didn't have time to work on them.
I don't mean to whine. In retrospect, it is very easy to see where I went wrong and what I should have done differently.
So what now?
Am I discouraged? Yes, I am a bit. Am I defeated? Most certainly not.
I will need to get another "corporate" job for a while to make some money. But the next time I give the entrepreneurial route a try, I will have a better plan in place. And, yes, there will be a next time.
|
