Build a Lifestyle Business or Build a Social Empire?

Build a Lifestyle Business or Build a Social Empire?

One constant debate that Reflect7 keeps having internally is do we refocus and start trying to build web apps a la 37 Signals? Or, do we incorporate social mechanics into our football apps and try to build a sports social network? We don’t know.

What we think we know:

  • We aren’t going to just ditch our apps like we previously considered. They make enough money for us to keep going. Plus, ditching thousands of customers is a dick move without notifying them up front.
  • We think that it would be harder to build a grandiose social network that is successful.
  • A large social network may require some VC or Angel money. In the long run, we are not opposed to either, but we do feel that it’s necessary to bootstrap to get there.
  • We don’t like the idea of building a business on B2C, we would prefer B2B.

What I think that I know:

  • We’ll have a better shot at being successful by building a lifestyle business.
  • My goal is financial freedom. Mainly for the sake of my family’s health. They’re all that I deeply am concerned about, and if one of them were to get sick, I want to make sure that they’re taken care of. A lifestyle business may achieve that quicker.
  • A lifestyle business sounds more boring and feels safer. Neither of those are necessary negative.
  • I want to change the world. I want to have an impact. I want to change lives like Steve Jobs or Mark Zuckerberg.
  • I feel that being in downtown Lincoln, NE on Husker game days that something is missing… that it’s possible to build something that no one has built before that could revolutionize the way fans connect with each other and interact with sports.
  • We have established sports apps. Leveraging our current customer base into a social network may help our social network gain traction quicker.

Corey came up with a pretty good idea on a potential social network. However, we’re far away from implementation and we’re not sure if we’ll chase the idea.

I’ll know if I was wrong in three years. One thing is for sure, one of my mantras is to live life without regrets.

What are your thoughts?


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