Entrepreneurs Need to Evolve Beyond Ad-Supported Business Models
Yesterday after the introduction of the event I challenged all participants of Triangle Startup Weekend to put some real creative thought into the business model of their startup pitch. The ad-supported model of startups is not viable in good times, but in a down economy with all forms of advertising dollars heading south, it is more critical to devise multiple revenue streams, and not rely on advertising.
This message was well-received by the Triangle Startup Weekend participants, as lots of people were nodding their heads in agreement. There have been enough reports of failed startups that just couldn’t make it on ad-based models, that this was an easy challenge to agree to.
The entrepreneurs of the Triangle have moved beyond the latest internet bubble of build it and they come, and when they do, serve some ads. Our group at Startup Weekend will be creating startups with sustainable business models that can survive past this weekend.
Originally posted on Triangle Startup Weekend.
What I Am Doing This Weekend
Normally on Monday morning, people chat about their weekends. This time of year, people might go to the beach, or cut the grass, or even just chill with friends and have a cold one. Well, my Monday morning chatter will be about starting a new company. From scratch. Over the weekend.
I am participating in Start-Up Weekend in Raleigh, at the Edge Office. Local techies, entrepreneurs and wantrepreneurs (a word I thought I made up until I found it on Valleywag) are gathering for the weekend to create a company, or companies, depending on how many good ideas are presented.
If you’ve never wanted to start your own company, or you’ve never passionately pursued your own ideas, or you’ve never thought it would be fun to hang out with like minded-people for two and half days straight, well, it’s hard to explain the allure. I think it sounds like a lot of fun. And I’ll get a t-shirt.
Here’s a local story about it, and CNBC is expected to be in the house providing coverage. I’ve been on cable tv before, but as a pitchman, not a news maker.
As you can imagine, from such a connected crowd, there will be lots of twittering, plurking, identica-ing, brightkiting, flickring, blogging, facebooking and friendfeeding. See you on the internetz. Maybe we’ll come up with the next big thing.