A recent response to a question on Quora about whether Quora was generating revenue showed a mistaken philosophy in many young companies, that not having revenue is a good thing. For those who are not familiar with it, Quora is a question and answer site where users post questions, people respond and questions are up/down voted based on their quality, so the best answers flow to the top. The company has raised about $61 million in two rounds of financing.
A couple of months ago, A Quora user posted the question: Is Quora Profitable?. Marc Bodnick, who leads Quora’s business and community teams, responded: “No, Quora the company is not profitable. We don’t have any revenues!”. Continue reading “Zero revenue should not be a badge of honor”
There are two resources/websites that are tremendously useful for everyone, but particularly social media executives. Quora is a question and answer site while Coursera offers courses online from top universities.
Quora is great for everything from getting supporting information for investor presentations and business plans to seeing how others have overcome difficult business situations. Quora works by encouraging people to post questions and then rewarding others for answering. People can up-vote and down-vote answers to drive the best or most accurate one to the top. You can also follow people on Quora if you are interested in how they would answer questions or of you think you would be interested in what questions they are following.
Questions can be about market information (or any facts you need to know), how people approach issues, what other companies have done to solve business problems, what trends or activities people are anticipating, etc. Typical questions requesting information can include how much revenue a typical Android game generates or how quickly is the tablet gaming market growing. In terms of approaching issues, you could ask how other companies growth hacked. I found responses to my question on best practices for improving retention an incredibly valuable resource in seeing how others addressed a business problem. With trends, information on Quora has shined a light on equity crowd sourcing opportunities made available by the JOBS Act. Continue reading “Two great resources”