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Stillborn v surviving brands
Mon, Mar 16, 2020
There are 1.75 billion websites in the world as of today. Sadly, less than 200 million of them are active.
That’s a staggering 10% benchmark, which is true for new initiatives. Less than 10% of online initiatives survive the digital vortex that sucks the other 90% into oblivion.
I’m lost trying to calculate the amount of money, effort, and time that went into those dead (90%) initiatives. How can you ensure that your upcoming digital initiative isn’t going to be born just to die?
Success is walking from failure to failure with no loss of enthusiasm.
Life/death checklist
- Acknowledge that the odds are heavily stacked against new initiatives. It’s a 10/90 chance or worse. There’s great merit in quitting as soon as the death certificate is confirmed because the alternative is wastefully costly.
- Invest what is needed to get expert strategic advice upfront. One-time upfront costs in evaluating the initiative are often much less than monthly costs in executing the inevitable.
- Keep learning, pivoting, and surviving. Only 1 in 10 ideas you initiate is likely to survive. Translate learnings into new pivots and keep growing till you achieve stable/sustainable levels.
