Rich Clominson on how the Corona Virus affected Failory
This is the 3rd part on how Corona affected startups.
In this part I interviewed Rich, founder of Failory, which is a content platform specialising in interviewing failed startups. Yes, you read it correctly, there is plenty to learn from failed startups, so you should definitely check him out.
You can also check out the full interview I did with Rich recently.
But this time we focus on Corona. That is why I asked him how has it affected his side-business, Failory, and here is what he shared with us.
Rich Clominson, Failory
The Corona affected Failory in two ways. On the first side, I've seen a decrease in the number of businesses interested in buying our sponsorship packages.
I think there's an opportunity to contact online businesses which have benefited from this Corona situation and ask them whether they would be interested in advertising on our website, though.
In addition to that, we have seen a decrease in number of people buying our recommended tools and resources, which bring us affiliate commissions (not to mention that Amazon has recently cut their commissions by a lot!).
Failory is not my full-time business, so I'm not really worried. I will probably decrease the expenses and investment put every month, but no big changes are expected.
At first, when the Corona started spreading around the world, it seemed like there was a decrease in the traffic, but I'm not sure if it wasn't a Google Algorithm hit that received our website. Currently, we're receiving 20-30% more traffic than some weeks ago. That traffic is distributed across all pages, so again, I can't confirm it's due to the Corona situation.
Quite the opposite, we recently launched a podcast and it was well-received. I guess that many people have more time right now to read articles and listen to podcasts.