Building a Legacy, Not Just a Business: The Case Against Rented Land
In the current landscape of entrepreneurship and digital business, many companies are seduced by the allure and ease of “rented land” – third-party platforms upon which they build their customer base, market their products, and conduct sales. This thought leadership paper dives into the pitfalls of over-reliance on such rented platforms, illuminating the risks and advocating for a strategic lean towards owned land – resources and channels a company controls outright.
In a world propelled by instant gratification and rapid growth, “rented land” – commonly social media platforms, marketplaces, and third-party hosted services – provides a tempting launchpad for businesses seeking visibility and customer engagement without substantial initial investment. Platforms such as Instagram, Facebook, and Medium can offer fertile ground for growing a following.
However, building on rented land is a foundation fraught with uncertainty. The algorithm updates on platforms like Instagram in 2019, which shuffled the visibility and reach of content drastically, serve as cautionary tales for businesses heavily reliant on such volatile ecosystems.