Know When to Scrap a Project
I’m always brainstorming for new site ideas, and most end shortly after the purchase of a domain name.
I’ve got something around 175 domains now, and maybe 20 are actually live.
When an idea gets beyond that point, and then I’ve set up the web hosting with WP Engine, AWeber for email, Twitter, Facebook, WordPress, etc., it’s always been a stage where I would finish the site.
Sometimes it would later die, but it would have a launch.
But that sequence changed today.
I got a domain I liked a lot a few months ago, and I was going to setup a niche daily deals site on it.
I later decided to change it into a directory, and was going to use a WordPress theme from Woo Themes.
About two weeks ago, I started having second thoughts about the time investment and eventual ROI for the site, but I was not going to let it fade, because I’d already put in too much time.
Plus, I had dropped $200 on the theme, and didn’t want it to go to waste.
But the more I got to thinking about it, I realized my stubborn insistence on finishing the project was taking away time and money from better ideas.
So I’ve evolved and bailed on this site. Maybe it’s reinvented next year, but for now it’s dark, and I feel relieved.
Director of Partnerships at Inflektion.ai | Vlogcast host of Affiliate Nerd Out | Co-founder of Affistash - Affiliate Recruitment Software
8 年Nice headline pic Shawn. New idea: subscription service of hot chicks that take out your trash. Is whitetrashgirls.com available ?
Managing Director & Sr M&A Advisor | I help online business owners maximize their company's value & exit | Certified M&A Professional | Merger & Acquisition Master Intermediary | Serial Entrepreneur | Industry Advocate
8 年Im down to about 700 domains from well over 1000. Ideas are a dime a dozen it's all about execution, and who has the time to execute that many ideas with any sort of success. I think most of us entrepreneurs have this problem.
Head of Analytics, Data, & Customer Insights at Alamo Drafthouse Cinema
8 年Righto! One of my favorite Freakanomics podcast episodes makes the complete case: https://freakonomics.com/2011/09/30/the-upside-of-quitting-full-transcript/ but the tldr is it's all about opportunity costs.
Owner Short Brandable Domains
8 年One of my biggest faults - is trying to do toooo much and not zeroing in and focusing on a core four... I feel your pain... I feel your relief...
Software Systems Integration & Test Engineering at L3Harris Corporation
8 年Yep. Sunk costs. The Freakonomics guys do a great job discussing it. ??