And this is just another reason why the world is in recession and people are struggling to pay off debts. Cash is king.
David Greiner, on how they came to the idea of building Campaign Monitor.
I know this is something that many VC’s & startup founders have spoken about, but Campaign Monitor’s story again highlights that if you’re building something to solve a problem that you have, you are most likely also solving a problem that others may have.
WooThemes - for example - grew out of our frustration of managing multiple client design & development projects at the same time and we wanted to give ourselves an easier & more efficient way of earning a salary as web designers. Now, we see many designers & developers building their businesses using our themes for their client projects; so the process & theory of solving problems almost goes full circle.
Bijan Sabet, Thoughts about “the winner takes it all”
Interesting take on social networking and the power of Facebook. I tend to agree though, as there will also be power & viability when a bunch of niche users (doesn’t matter exactly how niche) comes together and shares around a mutual interest.
It really comes down to the question: How many users do you need to make your business / project / social network etc. viable, sustainable and hopefully profitable?
I fully understand the negativity though, because not many people have been able to make this model work for them. It is high-risk (due to the volumes needed to make it work) and it is thus an extremely tricky model to execute properly.
What he said.
Paul Graham - Organic Startup Ideas (via nabeel)
WOW - powerful words these, but I tend to want to throw my whole weight behind this: before we started WooThemes, everyone questioned the viability of selling (supposedly) premium themes, when users could already download thousands of different themes for free.
Well, 2+ years down the line (and some serious revenue to boot), I’d say that those initial naysayers have been proven wrong quite nicely…
Developing countries are becoming hotbeds of business innovation in much the same way as Japan did from the 1950s onwards. They are coming up with new products and services that are dramatically cheaper than their Western equivalents: $3,000 cars, $300 computers and $30 mobile phones that provide nationwide service for just 2 cents a minute. They are reinventing systems of production and distribution, and they are experimenting with entirely new business models.
Why are countries that were until recently associated with cheap hands now becoming leaders in innovation? The most obvious reason is that the local companies are dreaming bigger dreams.
The Economist, The world turned upside down - A special report on innovation in emerging markets.
I believe that the buzz word in this article either has to go to dreaming or innovating, with the innovating most probably a result of the dreaming that takes place before. As simple as that: Dream up a new business model that adds value at the right price and go about implementing that in an innovative way and you should have yourself a business kind sir.
Having been a beta tester at Dribbble for the last couple of months, I’ve been very impressed by what Dan & Rich have built and the above paragraph illustrates perfectly (in my opinion anyway) why Dribbble has been such a success.
Ever since WooThemes established itself to such an extent that I could earn enough money from it to make a living thereof, I (Magnus & Mark made similar decisions with regards to their freelance activities) decided to call it a day for doing client work (which is why more than a year later, radiiate - a boutique web design agency before - is only making a comeback now).
As a result, we have a pretty strict “no custom design or development work” policy at WooThemes, since we choose to rather focus our attention on internal projects / ventures / activities that furthers & growths the business / brand. Yet, we still get a bucketload of e-mails from people (I’d assumed they’re fans of our work) requesting a custom quote for a designing / developing a site with X, Y & Z specifications. The answer is always the same however: "Sorry, but we don’t do custom design & development work."
Considering the sheer amount of requests we get for client work though, has lead me to at least re-think our approach & more important our mindset in this regard. I mean - are we just ignoring the cash that is being put on the table right in front of us?