Dear Aunty B,
I have an online business that is growing fast in terms of numbers (less so in advertising.)
As it has grown I have suddenly spied an opportunity coming from the forums, which I think will make a lot more money. My question is this.
Do I change direction, or stay the course and start another business?
Oh. A crossroad!! With a fork in three directions. Why not make a feature film instead?
Some of the best entrepreneurs I have met changed direction early on. While they are fixated with their business, they do not become fixated on their initial business plan. Lots of sites start out on a different path and then do a rapid u-turn as they see a better revenue stream.
Look at YouTube. That started as a dating site that failed. Flickr was an online game project and PayPal started so that… well who knows why PayPal started. But these are all very different businesses today.
My advice is to change direction. Sniff the money and follow the scent. You never know. You may return to your original idea as a sub-shoot of your new business. Whatever you do, resist the temptation to do two start-ups. That rarely works, and will drive you mad.
Your Aunty B.