I’ve had the impression for some time that I’ve left Forexticket website to continue on its way without managing to improve its growth. Suddenly I feel like I’m standing still….and that’s not good for my motivation. As often happens, or indeed as always happens, it took me a while to get to grips with this problem. But as I turned it around in my head, I managed to put together a plan to kick start my motivation: let’s put together the means to get the website to the top, not just of the foreign exchange websites, but of the worldwide financial websites…It’s quite a challenge to take on the likes of Yahoo! Finance, money.cnn.com and Bloomberg. But since nothing is impossible in the virtual world, I think that we’ve got a chance of nipping at their heels and if we’ve got a chance we grab it. To do this I’m going to have to motivate myself and find the means to do it.
The engines for growth are pretty obvious in my opinion: increase the number of media and widen the content. We can increase the number of media by building apps and complete, ergonomic mobile websites. In fact we’ve already done that, but we want to do it better. As for content, we can access new markets in addition to foreign exchange, such as shares, indexes and commodities. The potential audience for these markets is much bigger than for foreign exchange.
Of course, we will have to take another look at our organization. Because if we are to work with increased quantities of data in conjunction with a wider audience, we will need more staff. That’s why we’re looking for people with skills in systems admin and it’s a cert that we’ll soon be looking for website developers to man the frontline too.
We will also need the financial resources to support this growth. I can see two solutions here: self financing or the famous fund-raising exercise.
Self financing has the advantage of leaving the partners with sole control and no need to account for their actions except to themselves. On the other hand, the resources are more limited, at least in the short term, which will have repercussions for growth.
I can also envisage fund-raising. The ideal would be a cash injection to cover 4 or 5 years, in the knowledge that the website is generating revenue which should increase year on year. The upside of fund-raising would be that the engines for growth could be fired up more quickly. The downside would be the dilution of our shares in the company and the arrival of a new shareholder. We need to investigate what kind of stake an investor would want in exchange for a cash injection over 5 years and how much we would be willing to give up.
Therefore, we have put everything in place to roll out our strategy for the next 5 years. This time I don’t see the figures doubling, I see them increasing tenfold. I know it won’t be easy, but I know it’s far from being impossible.