A lot of people have been jumping on the Facebook bandwagon lately.
It’s the newest new thing that everyone swears will make you rich beyond your wildest dreams and allow you to automate your income once and for all.
They also claim that it’s super simple to get started.
But the only thing that Facebook does to me is scare me and here’s why.
Reason #1 – You’re building your castle in some else’s land. Let me ask you this – would you build a brand new home on your neighbor’s property? Of course not – one because it’s not your property and two because you can’t control what could happen once you built the home.
They could tear it down, they could claim ownership and take it over, or they could do nothing for years and the one day change their minds after you spent years making everything perfect.
It’s the same thing with Facebook. By building your “business” on someone else’s platform you risk them changing one simple thing that could ruin your income.
Timeline changes, advertising changes, policy changes and more – all of them could negatively impact you and your business and in a matter of days you could find that honey pot of income drying up.
That’s what happens when you play in someone else’s playground.
But Tim, that’s why we capture their email addresses so we can prevent that is what the smart people say.
But what happens when you get a high spam complaint and they shut down your list?
I know several instances where this has happened and list sizes of 40-50,000 people got flushed (along with the income) overnight.
Imagine that happening to you. All that time and money wasted.
Reason #2 – Hard to prove “ownership” of Fanpages. Here’s another horror story for you. You spend all this time putting together, promoting, and growing a fan page. Then one day you go to login and you can’t.
The password has been changed and your once mighty Facebook page has been hijacked by someone else.
What would you do?
Send an email (one of millions I bet they get a day), try to make a phone call (what is Facebook’s number again), or just hope that someone notices and returns the page to you?
Trust me, they won’t and your page will be gone forever.
At least with a domain you can show proof of ownership and registration over the complicated process of trying to prove that you “own” something on someone else’s platform.
Reason #3 – Affiliate Promotion Danger Zone. Things are constantly changing when it comes to affiliate promotions and what you can and can’t do on Facebook. That CPA offer you sent traffic to yesterday is calling you today telling you to stop sending traffic to the offer because you’re over the quota. That leaves what – Amazon and their amazing 4% commissions on their products?
But wait, you’re going to be different and produce your own content? Well unless you’re a subject expert – good luck. Most of that stuff takes money to get produced by someone else – money that might be hard to come by because you’re not making any when you get started.
Not to mention, that Facebook could change their policy, Terms of Service, or anything really and punish you for it.
Remember the Google Adsense slaps – people being banned forever from advertising on Google because of something they did years ago?
The same thing can happen with Facebook.
Reason #4 – Myspace. You remember MySpace right? It was the next big thing – the biggest social media platform known to man and was going to change the face of the internet forever.
Today, you could buy the entire platform for $87 (give or take a few zeros). People are fickle, taste change and something that is hot today can be ice cold tomorrow.
Just ask MySpace, Napster, Twitter, & Pinterest users.
All of these services were touted as being the next big thing and have slowly faded into the background.
Remember when Facebook launched their IPO of stock? A few weeks after the launch it was trading at HALF the price it originally launched at. Facebook is also losing their customer base each month. I don’t think it’s a case of being over it but more of a case of people moving to other platforms (like Instagram) and wanting to discover the next big thing.
So, prior to you building your “business” on a pile of sand – you might consider these issues before investing your hard earned money and time.