To Business Plan or Not To Business Plan
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As we suggested in MRN Marketing Right Now - The Plan, having no plan at all may be hazardous. Mark Evans expressed that sentiment in writing RIP Twitter.
Gone are the days when you could start, grow and finance a business based on the notion that if we build it, they (consumers and advertisers) will come…and then somewhere along the way we - just like Google did - will find a viable business model to make it work.
Perhaps the shareholders of Twitter are beginning to see the light. Chris Snyder noted that Twitter to Get Down to Business in 2009, Investors Say
Major leadership changes Thursday at Twitter renewed questions about its business prospects — was the replacement of CEO Jack Dorsey by fellow co-founder Evan Williams a shuffling of deck chairs on the Titanic?
But today VC backers of the microblogging service interviewed by wired.com Friday insisted they remain bullish, and Bijan Sabet, a general partner at Twitter backer Spark Capital, revealed that new revenue models will be unveiled in the first half of next year.
Perhaps at least if Twitter had taken our suggestion to do a NUB report, they would be in better shape. Knowing more precisely the niche they were targeting, what they offered that was special and how they would make that into a survivable bottom line might well keep even the Titanic afloat.
But perhaps there is a savior. OMG Britney! On Twitter!
I’d like to welcome Britney Spears to our world. She (or rather her people) have launched both a Twitter account
and a bloggy sort of site
This is solid gold for Twitter. A few more of these and it will be hard to argue that it isn’t going mainstream.
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October 23rd, 2008 at 1:56 am
I hope they’ve got something bigger planned than hitching their fate to the popularity of Britney’s career! The concept of Twitter is golden, but if they can’t implement a functional business model then its just a matter of time before someone else does.
October 23rd, 2008 at 11:24 am
Even if someone else does concoct a functional business model, it’s success will be limited if everyonwe is over at Twitter…even if Twitter does nto profit from its traffic/users.
October 24th, 2008 at 6:17 am
It is great that is is free. but will it will to have pay the bills sometime. Unless there is another stragety
October 25th, 2008 at 4:42 am
I guess they are doing something. Having it free is good but at least they have to think in long term.
October 28th, 2008 at 4:31 am
Twitter is the fastest growing social network. They can monetize with new business models.
November 4th, 2008 at 3:42 am
Will Twitter take on the ad approach that is happening with rss feeds?
November 21st, 2008 at 10:29 pm
Great post. I totally agree. A business without a business plan is directionless and hard to quantify their results as they had no specific goals or direction that they were working toward to begin with.
Also, not to forget, a business plan is very helpful and sometimes required when trying to obtain financing for your business.