Posted: Wed, Jun 03, 2020 at 7:54 AM - Showing 57 Views
A lot of you create online projects with goals and minds to solve problems for people which is awesome and I'm really glad that you do that but there is one thing that no one likes to talk about that is the most important part of any project that will be even remotely successful.
You need to be able to fund your project.
Nobody likes talking about money but money is probably the most important part of your project If you're looking not to make a profit you still will retain costs within the project most projects are simple things such as web hosting or services required to make the project successful most things demand money and those business models have figured out how to make a profit If you're not interested in a profit you still need to make money.
That's why it's so incredibly important even if your desire is just to provide a free service create opportunities of submission what I mean by that is you need to have an understanding to the people who are wanting your service that you are going to provide a way to contribute to you not by force but by request
this can be easily accomplished with something as simple as a donation portal. How many years during my projects online I have created a lot of really cool things with a lot of really cool people but from day one I was always mindful of how things would cost That's how projects can become successful and I'll be honest the project will usually go from 0 to 100 within a day in the right circumstance there are many times where your project will sit stagnant for 6 to 9 months with no one giving a care or a hoot about it until one day it falls across some article on a news website or it gains exposure on Twitter then all sudden you have a new problem You're popular which isn't exactly a problem but it's going to cost you your $4 a month hosting company is now telling you that you are going over your processing limit You didn't even know that was a thing with your unlimited hosting now you have 10,000 people knocking at your door looking for your website and your website is craving crushing and also telling people a suspended because you do not have the proper hosting
to come back this you throw my money at your current provider who has an incredible upcharge when reality you could have set yourself up with this business model to start with growing pain is definitely a problem but you should also plan for this from the very start
Any project you're working on expect that they'll be millions of people trying to use it Don't write code that will crash under load and don't expect it not to be too popular because that's when things start getting rocky because you are starting to get popular.
A great example of this was the day I decided to create a news ciphering system that will scan news articles every hour on the hour and allow people to search news articles like a search engine problem is is the search engine relied on a like search result scenario which is perfect for low popularity services but when you start having thousands of queries hit your database looking across gigabytes worth of data you tend to piss off your database because your code was written poorly
because of this problem I had to ultimately shut down the website because it was becoming two resource intensive to run Even though the idea and the premise of the system was sound and amazing.
Bottom line no matter how noble your cause no matter how uninterested you are in making profit from your project you still have costs and to this very day I'll go down in history to be labeled the person who always is thinking about the bottom line without any remorse to that logic.
Even in business if you're running a company and you have employees who are demanding more pay well with that being said you have to think about this If you still consider your employees an asset they're going to want growth your company is full of growth and if you see your bottom line growing and there's not ultimately what's going to happen is you're going to lose that asset.
So what I'm really trying to say short-lived is an old saying that's been older than time it takes money to make money.
#advice #money #busieness