The world is in chaos now as Facebook, Instagram, and WhatsApp are down.
Imagine the number of businesses suffering for these 6 hours (at the time of me typing this.)
It’s time to remind ourselves about how fragile we are.
While running our online business we’re (for the most part) dependent upon external factors.
Social media platforms (like FB, IG & Whatsapp in this case,) payment processors (like Stripe and PayPal,) algorithms, and so on.
And I know a lot of you will say that is just a matter of hours until Facebook fixes this issue and we go to normal again…
However, if you think that way you will miss a very valuable lesson that can help you a lot moving forward in your online journey.
Lesson: Don’t put all your eggs in one basket.
One of your main jobs as an online entrepreneur is to grow your audience and build your online assets.
And there are 2 types of assets you can build online:
- Assets that are not fully yours. (Social Media Following)
- Assets that you own 100%. (Email list & Website)
You might have noticed already (I hope) but you’re reading a blog on my website with the same message that I sent my email subscribers.
You see, Facebook can shut me down today, or Facebook can disappear… but in case that happens, I will still have my email list and website to communicate with my audience and share my message.
And the same thing goes with all social media platforms.
An email list is the only asset that you truly OWN online.
And your website is the only platform that you own online.
I can now communicate with you, while many other marketers and businesses that solely rely on Facebook or Instagram can’t.
I’ll let you think about that for a second…
If you put all eggs in one basket, if you overly rely on one thing (especially things you don’t have control of), you will eventually go down.
In other words, if you want to have more certainty in your online business, you need to work on building the assets that you own, mainly your email list.