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You Didn't See This Coming? 3 Types of New Risks For Businesses Today

Profitable Marketing Insights
Hey 👋
Running a business and succeeding with it have always been fraught with risk. We all know most of these risks… So, I won’t go there…
It’d have been hard to predict these new kinds of risk though: when it comes to “platforms” – which is now termed as “platform risk”.
Platform risk is real for everyone. Especially several new-age indie creators, online creators, self-employed professionals, freelancers, and small businesses.
Platform Risk
Examples?
  1. You’ve been freelancing on Upwork, PeoplePerHour, Fiverr, or any of those marketplaces. Suddenly, you are kicked out for no reason (no account holds, no issues, nothing). Just like that, your account is closed.
  2. I read about someone’s Etsy account suddenly closed down (no explanations given).
  3. You come to depend on a particular SaaS product. The startup changes direction, pivots into something else, or closes down.
See where I am going? That’s platform risk. Tweet at me and let me know if you’ve ever had any of these stories to share.
The State Overreach Risk
In another news, my business is at another risk called “State Overreach”. Our central banking system authority (RBI) just released a mandate making 2FA (2 Factor Authentication) and other things mandatory for merchants and banks to comply. Effectively, what this did is to cease all card subscriptions small business owners like me (and various startups) who purchase services, products, and subscriptions worldwide to come to a grinding halt.
Our payments won’t go through for web hosting, marketing tools, servers, and other such products. How am I supposed to run a business without these?
Well, I am still trying to dig in and find alternatives.
The “You” Risk
Did you know that you are your biggest bottleneck? The biggest risk ever doesn’t come from central bank directives, government policies, or platforms.
It’s you. Yes, you.
Anything like “get overwhelmed”, “rage quit”, or just “feeling like giving up” or even “unmotivated” could risk our entire businesses. I know, because I feel like this everyday.
Give it a thought: Manage “you”.
What kind of risks (sometimes those that you think you never even had) did you have to manage? Let me know.
I hope we all find ways to mitigate these risks and run our already vulnerable businesses the way we ought to.
Meanwhile, let’s get on to the good stuff 👇

Hot Off The Press 🔥
Content Marketing: 22 Companies That Grew With Content & Sweat | fetchprofits
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Interesting Conversations & Stories Backstage
Josh Pitzalis – Founder of Chirr.app – has been trying to work his out of the love for the product into the guts of marketing. He some something to share in his own voice (reminds me that I am due for voice tweets 😁)
Josh
Everyone tell founders to spend more time on their marketing.

Today I worked on an article that attempts to answer how you should spend that marketing time.

#voice100 #tweet100 https://t.co/W5AOgdX5qA
Founders have a need to make the switch from their “undying love” for the products they build to marketing, promotions, and getting the word out. Most won’t even say it. But Jamie Madden – founder of License Server  and WCVendors does accept and is ready to act on it.
Jamie Madden (digitalchild)
@fetchprofits @theandreboso My mistake with my first major product. Too much product, zero marketing, and then the wind was quickly taken out of the sails. Now it's catch up and focus. Product is important, but I've come to learn that without marketing you're releasing into a void.
Quentin Villard – Creator of TIMS (his first digital product) and NoCodeEssentials – is a supremely talented “Nocode Maker”. He recently compiled an enormous list of “20+ Free Tools for Creators, Indie Makers”. It’s a ginormous list of several interesting creations that you should look at this week. While you are at it, get the inspiring story behind how Quentin made $3000 with no tech skills and a $5 budget.
Quentin Villard
20 FREE tools for Creators and Indie Makers

🚨 Not the ones you already know! 🚨

THREAD 🧵↓ https://t.co/2cYDI8qASN
New Tools | Awesome Discoveries
Coupon Wheels or Gamification Wheels by OptinMonster (on top of everything else you get) will put your lead generation on a nitro-booster speed.
Chirr.app by Josh Pitzalis is a powerful, Intelligent Twitter Thread composer that uses smart algorithms and easy thread drafting features to help you power up your Twitter game.
What have I been upto?
Apart from grappling with risks (above) and figuring out how to survive? Here goes:
Launched Marketing Alpha – a narrative-style newsletter (completely different from this one) on LinkedIn
Launched a new, short course on How to Start Your Own Newsletter (like this one).
Thank you so much for checking this issue out.
Send out an Tweet if you have any feedback on this issue, if you’d like to let me know about something you are working on, and if you’d like to share your thoughts.
Keep working. Keep your wallets full
Ash
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Ash

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