Many of us are here because we want to create a new product, from a new cell phone application to a new website. Last Monday class gave us an idea how to find a viable financial strategy. A financial strategy can be totally different from one website to another. For instance, Josh Spector from comedy.com said that advertising was not the right path for them. That was very insightful to me, because when we think about making money with content, a lot of people (myself included) believe that advertising is the best support. Similarly, Mycypher.com does not carry ads in its website and from what I took from Curtis T. Jewell, they organize events as a way to generate revenue. On the other hand, Where'smytaco.com and 5-second films don't have a business model or are not making any money yet. An observation: I think those are two really good ideas and both websites have excellent content. However, making money with them is a whole different challenge. So, I guess, it comes down to this: when we have the "next" million dollar idea we need to ask ourselves, how is this going to make any money? And no, the answer should not always be, "advertising".
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