DO NOT PUT ALL EGGS IN ONE BASKET - how to ensure long-term project/business self-sustainability [DO NOT RESTEEM]

coach.piotr (63)in #ph • 4 years ago

INTRODUCTION

Few days ago I've published quite a long post ("ROAD to 1 million HIVE POWER - long term project for 2020 and 2021 ") in which I've shared my concerns related to future operation of Project.hope community.

My goal was to underline risks of depending on few large stakeholders (whales) and I pointed out, that losing it could have enormous and very negative impact on PH. If one day TheRising (with it's 450k HP) would stop supporting our curation trail, then all authors would suffer solid loss in rewards. There would be also less funds coming to ph-fund (community budget) and that would efficiently result with me being forced to lower PH weekly support towards our core team.
It would also force me to reduce amount of users I'm being able to support with solid upvotes.

In other words: things could get ugly.

SOLUTION

I've shared initial solution with group of most active PH members, hoping to collect some valuable feedbacks. And as always - you guys proved again to be amazing. Amount of intelligent comments and support I've received (from most of you) towards suggested solution has been more than satisfying.

Today, I would like to share with you all some story from my private life, which I found to be a solid WARNING to me and reminded me greatly of this particular issue and our discussion.

Hope I got your attention :)

DON'T PUT ALL EGGS IN ONE BASKET

We all know this saying. However, how often do we realize that we just again repeated this mistake? How often can we judge what we do and ensure that we're not falling into this trap?

Just yesterday, I've learned that my close family member's business has been greatly affected in a negative way - simply because major client decided (all of sudden, with only one week notice) to cut their expenses and completely stop using services provided. Out of the blue - over 70% revenue created from this particular collaboration is gone.

In just a matter of day, things had changed dramatically for this family member of mine and future turned from "stable and comfortable" to "uncertain and stressful".

HOW TO AVOID GETTING IN SUCH A SITUATION

It's definetly easier say than done, isn't it?
Imagine starting up a business and finding few initial customers, out of which one or two are becoming BASE of your future revenue. How often does it happen? More often than not - instead of seeking new clients, we're focusing all our efforts on satsifying this one. One that is creating most of our profits.

How to avoid falling into this sort of "trap"? Does anyone here ever had similar experience and would like to share it with me?

WHY AM I BRINGING UP THIS STORY?

By now it's probably very obvious, that I'm sharing this story to underline how important it is to ensure long-term stability for project.hope and that I see it even more important than before to follow up solution, which I suggested in "ROAD to 1 million HIVE POWER - long term project for 2020 and 2021 ".

GOOD NEWS is that we've already managed to dlease 280k HP to ph-support (out of 200k HP just weeks ago). Our initial target was to grow to 400k HP by december, however if we continue with this speed, then we may reach 500k HP (half million) before end of this year.

IMPORTANT NOTE:

I would like to remind you all to start setting up 50/50 reward split on your future publications posted within PH -> but ONLY on HIVE.
I've noticed that some members did set up 50% beneficiary to ph-fund also on Steemit. It's very generous of you guys, however right now we're focusing on growing on HIVE only. Simply because dlease.io on Steemit is "dead" (hardly any traffic).