I have this project I've been working on...could use some advice???

I've been working on a new website since about February. Got half done, but the paid service isn't ready. I'm very optimistic about this site. I can't say too much about it at this time. But I'm confident I can turn it into my next business venture. My challenge is I've been sort of shoe stringing it along. Like not putting much time or money into it. Mainly because it's untested and hasn't made any money yet. So I tend to not want to gamble a lot in case for some odd reason it doesn't work out. Like I want to play it safe.

But I have this feeling that maybe I should go "all in" with this site. And really double down. Like I think I'm onto something and I think it could be a big hit. So the question that's been plauging my mind is.... do I make a bigger commitment to this, that might mean hiring a few more people etc etc. And that would mean a bigger commitment. Or should I just continue to play it safe and shoe string the project along until hopefully it starts producing. Like I'm just questioning if my hunch that I'm onto something is worth the added risk or not, and added investment.

What are your thoughts??? Play it safe on this, or start to go all in?

this guy went all in and did ok.....

Originally posted by spartacus699
testing

It's working, you didn't get a triple thread

Kindest respects

Rodinus

reply to post by spartacus699


Play it safe. If it takes off, then hire others.
Expect to put in 60 hours a week to keep your site going, while holding down your job.

Unless you are very lucky do not expect a profit for about 2 years.

Originally posted by spartacus699
I
What are your thoughts??? Play it safe on this, or start to go all in?

Well I think it depends upon how much time, effort and money you are willing to put into it.

It is a gamble...I would decide how much money I could put into it; and if it does not work out...be able to part from that money... and still have some resources of money and income that you have held onto; and can still make it in life.

Try to find a way to protect yourself in case it does not work out.

I hope your new business venture does work out; and you make loads of money!

reply to post by caladonea


you do have a point

Since most of all startup websites fail the 1st time around...and you understand that...I'd like to know what plans you have going forward for your SECOND internet venture when it does?

Also, its extremely important to plan WHERE you will advertise this site, how you will, how much money youll spend paying for it to be advertised...all -so you can realize your dream. Have you thought of that? The world needs to know you are even out there. Just making a website means nothing. To be successful, you have to promote it ($$$) in a lot of different places and for a lot of different demographics.

You can obtain quarterly demographics from your area and areas you'd like to do business in. Who listens to what, how many go to a certain type of website, soaps, what kind of cars folks drive, and things people buy, etc. All are available as a planning tool for your site. ie: a music website may do great in a University area, and not so good in an affluent neighborhood.(s)-cities-areas.

And its all about how much time everyday you will put into it...(and knowing that over 80% fo 1st startups fail as well no matter how much money and time each day into making it work). So have you got the time? The ad money if needed? The connections? Have you planned all this? You have to have ways of making people visit your site.

If you have...then you stand better than a 50% chance of being in that percentage that is successful.

*(I helped design several websites for some friends, writing HTML code as well for them. They fully expected the sites to do what each promised...until they figured out they never thought of HOW people would even visit the sites, let alone join them). Those sites, even well designed, informative and attractive, faile because they never planned to put any work or daily maintanence into them. They just thought of putting up a website. A lot of time, planning and money to fail.)

Seriously...plan, plan and read up on new websites. I wish you the best! Go for it!

reply to post by mysterioustranger


Ya I hear you. Well I've been building sites since the 90s. What sucks the big one is my main site went under in 2011. That's a long story, it was a good run 11 yrs infact, but it sucks cuz now I have no income. When that went down I needed a break from it all as I had been building sites for so darn long. So then last year I kinda got the bug again to start tinkering. I got up to speed on some of the latest advancements. And then this idea popped into my mind which I think it's pretty good. I can't say for sure. Who knows right, all I can do is try it and see what happens. I just hope I'm onto something. But ya I've been around the block a few times.