We know this is a bubble (Bubble 2.0) and there will be a shakeout. There always is. 95% of the 2.0 websites and companies will blow $millions and never even break even. Some won't even earn advertising revenues. The ones left standing will survive.
Because of this reality, we have to maintain discipline. We have:
- a clear business model
- clear revenue source(s)
- a clear date at which we will look at how we're going – in terms of achieving revenue goals. If it's not happening we have to ask "why not?!" Are there too many free players in the market?
Ajax, 2.0, Mashups, APIs… it's exciting to think about all these cool technologies but it's also dangerous. We can get distracted from what really matters: our product called reBlogger.
Here's what matters:
- We're not trying to be all things to all people. We fetch web feeds, merge and extract useful information for the user and display it back to the user.
- We use Ajax (Microsoft Atlas) but we know it only adds to our actual product offering, ajax is not the product. Let me repeat, no matter how cool a PPT presentation was and how excited it made you feel, it was not the product… you still had to build a product.
- We're not just an online RSS reader, we do a lot more than that. No one else does what we do. Not even close.
- We might include some API/mashup items (like flikr) but it's an extra, it's not core to our product – and we know the difference
We need to stay focussed on the product and on earning revenue, not on the bubble nor on the UI tricks. Writely gained thousands of users by word of mouth. That is the most sincere form of flattery – that someone tells someone else about your product.