{"id":7877,"date":"2020-07-23T18:57:25","date_gmt":"2020-07-23T18:57:25","guid":{"rendered":"http:\/\/blog.growthtools.com\/?p=7877"},"modified":"2020-07-23T18:57:42","modified_gmt":"2020-07-23T18:57:42","slug":"rent-vs-own","status":"publish","type":"post","link":"https:\/\/blog.growthtools.com\/?p=7877","title":{"rendered":"Rent vs. Own"},"content":{"rendered":"<p class=\"c2\"><span class=\"c1\">You can either rent or own your business.<\/span><\/p>\n<ul class=\"c6 lst-kix_igjj549n66l1-0\">\n<li class=\"c2 c4\"><strong><span class=\"c12\">Own:<\/span><\/strong><span class=\"c1\">\u00a0Build your own platform<\/span><\/li>\n<li class=\"c2 c4\"><strong><span class=\"c12\">Rent:<\/span><\/strong><span class=\"c1\">\u00a0Build on top of someone else&#8217;s (Facebook, YouTube, Amazon, Google, etc.)<\/span><\/li>\n<\/ul>\n<p class=\"c2\"><span class=\"c1\">These days, renting is more popular than ever. And it\u2019s easy to see why.<\/span><\/p>\n<ul class=\"c6 lst-kix_mqagc6gtu1l2-0\">\n<li class=\"c2 c4\"><span class=\"c1\">Renting makes getting started feel easier (even though it\u2019s not)<\/span><\/li>\n<li class=\"c2 c4\"><span class=\"c1\">Renting gives you instant access to millions (sometimes billions) of eyeballs<\/span><\/li>\n<li class=\"c2 c4\"><span class=\"c1\">You can build a massive business on rented land<\/span><\/li>\n<\/ul>\n<p class=\"c2\"><strong><span class=\"c7\">But there\u2019s a major downside to renting that most people ignore:<\/span><\/strong><\/p>\n<p class=\"c2\">You\u2019re beholden to the whims, policy changes, and algorithms of someone else\u2019s platform. Which means everything you\u2019ve built can be taken from you at any time.<\/p>\n<p class=\"c2\"><span class=\"c1\">Here are some examples of this in action:<\/span><\/p>\n<p class=\"c2\">1. YouTube cutting off a popular user\u2019s monetization capabilities for no obvious reason (<span class=\"c8\"><a class=\"c9\" href=\"https:\/\/twitter.com\/ScottAdamsSays\/status\/1217524741436661761\" target=\"_blank\" rel=\"noopener noreferrer\">link<\/a><\/span><span class=\"c1\">)<\/span><\/p>\n<p class=\"c0\"><img decoding=\"async\" title=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/lh4.googleusercontent.com\/Kn49sc6aWoVDcKSm036QxW-wFIFXbv7dCeWXHxemMeAmBEyWcT4Brh2VTvyY9BBu9AhHF_FOLg2ou8R96RRnhVG95Hp5Yv2IhjHhGVQlEytuGTF3bLQ8LViZzKfi1EA_poIN7bUw\" alt=\"\" \/><noscript><img decoding=\"async\" title=\"\" src=\"https:\/\/lh4.googleusercontent.com\/Kn49sc6aWoVDcKSm036QxW-wFIFXbv7dCeWXHxemMeAmBEyWcT4Brh2VTvyY9BBu9AhHF_FOLg2ou8R96RRnhVG95Hp5Yv2IhjHhGVQlEytuGTF3bLQ8LViZzKfi1EA_poIN7bUw\" alt=\"\" \/><\/noscript><\/p>\n<p class=\"c2\">2. Google shutting down a well known business\u2019s ability to advertise on their platform (<span class=\"c8\"><a class=\"c9\" href=\"https:\/\/twitter.com\/allenthird\/status\/1281594707823525893\" target=\"_blank\" rel=\"noopener noreferrer\">link<\/a><\/span><span class=\"c1\">)<\/span><\/p>\n<p class=\"c0\"><img decoding=\"async\" title=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/lh4.googleusercontent.com\/eHPsWflKyrcentzVMhCQLE_bpkSn5aLNivLLlc49o-lfYvWvKsBx_qeuX2GRpgj8Qb3nznXquDo63um8C2dwqKfqnyjSowZ6DbeD1NYg9wrExeOHjuBxinF9rTfLWhVkgeGTaYEi\" alt=\"\" \/><noscript><img decoding=\"async\" title=\"\" src=\"https:\/\/lh4.googleusercontent.com\/eHPsWflKyrcentzVMhCQLE_bpkSn5aLNivLLlc49o-lfYvWvKsBx_qeuX2GRpgj8Qb3nznXquDo63um8C2dwqKfqnyjSowZ6DbeD1NYg9wrExeOHjuBxinF9rTfLWhVkgeGTaYEi\" alt=\"\" \/><\/noscript><\/p>\n<p class=\"c2\">3. eBay suspending accounts for no reason (<span class=\"c8\"><a class=\"c9\" href=\"https:\/\/twitter.com\/tylerwdwyer\/status\/1281270557913149440\" target=\"_blank\" rel=\"noopener noreferrer\">link<\/a><\/span><span class=\"c1\">)<\/span><\/p>\n<p class=\"c0\"><img decoding=\"async\" title=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/lh4.googleusercontent.com\/8ZqsaDHutrQT7Jp4NhJCVIMdJpyT06-YO66ofXaXK-FCnOYWMHJwW-TUHIvhvAdl7QP6OLj3XztLj6n6UwFgVEUsEjFZ0uMQBoZFE8qUgRp9Ywq9_c3aKyMz7ioCrAorzUzRrIra\" alt=\"\" \/><noscript><img decoding=\"async\" title=\"\" src=\"https:\/\/lh4.googleusercontent.com\/8ZqsaDHutrQT7Jp4NhJCVIMdJpyT06-YO66ofXaXK-FCnOYWMHJwW-TUHIvhvAdl7QP6OLj3XztLj6n6UwFgVEUsEjFZ0uMQBoZFE8qUgRp9Ywq9_c3aKyMz7ioCrAorzUzRrIra\" alt=\"\" \/><\/noscript><\/p>\n<p class=\"c2\">4. Amazon changing the terms of its affiliate deals with no notice (<span class=\"c8\"><a class=\"c9\" href=\"https:\/\/twitter.com\/MattGiovanisci\/status\/1259986923977707521?s=20\" target=\"_blank\" rel=\"noopener noreferrer\">link<\/a><\/span><span class=\"c1\">)<\/span><\/p>\n<p class=\"c0\"><img decoding=\"async\" title=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/lh5.googleusercontent.com\/BZwOAvUCOpO2BnPK71W4u2OgYiuVAYsCK_jppfBS5k3Qi5I_pw9Jp1_a0yrYZ9DGG_rcWpw-hJvZUsBwI2sKgpcz742BviybEKkJG9NabHpXPTuuiyhEyAsPr5G9dOXB9SYj5kc5\" alt=\"\" \/><noscript><img decoding=\"async\" title=\"\" src=\"https:\/\/lh5.googleusercontent.com\/BZwOAvUCOpO2BnPK71W4u2OgYiuVAYsCK_jppfBS5k3Qi5I_pw9Jp1_a0yrYZ9DGG_rcWpw-hJvZUsBwI2sKgpcz742BviybEKkJG9NabHpXPTuuiyhEyAsPr5G9dOXB9SYj5kc5\" alt=\"\" \/><\/noscript><\/p>\n<p class=\"c2\"><span class=\"c1\">This story repeated itself with Facebook, Instagram, and Twitter shutting down accounts and refusing to reopen them.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">I experienced this firsthand in 2009 after building an eBay business. I\u2019d scour yard sales, Craigslist, recently closed restaurants, etc. for underpriced items, then I\u2019d flip them on eBay.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">It worked great until eBay decided I could no longer sell on the platform. They banned my account for no reason and froze all funds in my PayPal account ($30k) for 6 months.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">I had no recourse. The business I had poured 18 months into was done. \u00a0<\/span><\/p>\n<p class=\"c2\"><strong><span class=\"c7\">How do you protect your business from a similar outcome? Own your platform.<\/span><\/strong><\/p>\n<p class=\"c2\"><span class=\"c1\">Build a website. Drive traffic to it from a variety of sources. Convert that traffic into email subscribers.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">Owning your platform and having 100% control over direct communication with your audience\/customers is the safest, most effective way to grow an online business.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">This is how it works:<\/span><\/p>\n<ol class=\"c6 lst-kix_uzmnoyh8is9f-0 start\" start=\"1\">\n<li class=\"c2 c4\"><span class=\"c1\">Website visitors subscribe to your email list<\/span><\/li>\n<li class=\"c2 c4\"><span class=\"c1\">You build a relationship with them via content<\/span><\/li>\n<li class=\"c2 c4\"><span class=\"c1\">You present your products to them<\/span><\/li>\n<li class=\"c2 c4\"><span class=\"c1\">They buy<\/span><\/li>\n<\/ol>\n<p class=\"c2\"><span class=\"c1\">There is no middle man. No algorithm prevents them from getting your message. No Twitter mob can shut down your account and take your audience from you. It is bullet proof.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">You get to do business on your terms, your way, with no outside influences or existential risk.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">You own it.<\/span><\/p>\n<p class=\"c2\"><em><strong><span class=\"c12 c10 c14\">\u201cBut wait&#8230;does this mean I shouldn\u2019t use Facebook, YouTube, Twitter, etc. at all for my business?\u201d<\/span><\/strong><\/em><\/p>\n<p class=\"c2\"><span class=\"c1\">No.<\/span><\/p>\n<p class=\"c2\">Like I mentioned at the beginning, these kinds of platforms offer lots of benefits. You should take advantage of them when it makes sense. But view them as\u00a0<em><span class=\"c10\">extensions<\/span><\/em><span class=\"c1\">\u00a0of your platform, rather than the whole thing.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">For example, we run Facebook ads. We also put effort into getting certain pages on our website to rank higher on Google. These platforms are valuable traffic sources for us.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">But we watch the numbers to make sure none of them ever becomes more than a small percentage of our overall business.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">Own your platform. Own your communication.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">Anything short of this puts you at risk of having your business shut down overnight.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">.<\/span><\/p>\n<p class=\"c2\"><span class=\"c1\">If you want help growing your email list and building a sustainable business on it, we help people do exactly that.<\/span><\/p>\n<p class=\"c2\"><a href=\"https:\/\/lp.growthtools.com\/apply-course?source=Newsletter-BlogPost-July24\" target=\"_blank\" rel=\"noopener noreferrer\"><span class=\"c17\">Schedule a free Strategy Session<\/span><\/a><span class=\"c1\">\u00a0and we\u2019ll audit your business, put together a custom plan for your unique situation, and walk you through every step.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You can either rent or own your business. Own:\u00a0Build your own platform Rent:\u00a0Build on top of someone else&#8217;s (Facebook, YouTube,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7877","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/posts\/7877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7877"}],"version-history":[{"count":0,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/posts\/7877\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}