I learned a hard lesson recently that will cost me thousands...
By George Barnett Reid 👀 · June 5, 2020 · Curated by George's Blog
I learned a hard lesson recently that will cost me thousands...
Having a single point of failure.
I've been relying too heavily on Facebook ads and when the policies changed I made mistakes.
I got blocked.
I'm not alone, there are lots of businesses out there at the moment facing similar issues with Facebook advertising, and we've worked our way through it.
But the biggest lesson I've taken is I can't, as a business, rely on one stream of traffic.
No business can be solely reliant on one source of traffic or income.
Because when that single point of failure fails, you're up sh*t creek without a paddle.
Amazon is actually worse than any other company out there at being the single point of failure. And it's usually a complete failure.
We're talking hero to zero (literally) overnight.
You must be not only utilising other channels for traffic on Amazon but also utilising other channels full stop.
Then you must be building BRAND ASSETS like emails, chatbot subscribers, followers etc.
These assets are ones that you own and they'll still be around in the future (give or take) when #Amazon may not be - for you.
#BuildTheMoat #ThanksScott
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