Launching your own microstock agency
You tried to create your own microstock agency. Why didn't it work?
The project failed but, failing is very important for your growth as an entrepreneur. When I launch something I can safely risk to lose a little of my time, but when the risk becomes economic, you must understand when it's time to give up.
The idea I had was fine, because it did not copy the existing stock agencies. It was a microstock focused on editorial content: images, even shot with mobile phones, along with articles written by journalists and translations.
Packages could be created containing, for example, the photos of an event taken by a photographer, the description written by a journalist and the translation made by someone else.
There is still nothing like it online. Maybe because the idea wasn't good.
The problems that have arisen
Going online cost too much. The financial side of a project is something that a person who is used to shooting videos and photos has a hard time taking into account.
We didn't foresee the crash of the servers. We had them in-house and in a few months they broke several times. We should have invested in hardware what we invested in advertising.
Too bad, because we already had thousands of photographers, hundreds of thousands of photos and a good team of people devoted to the selection of the images people sent.
The next stage would have been to create a meritocratic positioning. In addition to being approved, the photos also received a score that was read by our algorithm that ranked the content when customers made a search, also giving the possibility to new photos to overtake older ones.
This creation (and the failure) of the agency pushed me away from microstock for a few years.
Only recently I uploaded content again, as I observed that even after a 4 year absence, a passive income from the stock images I had in my portfolio remained. This time I decided to dedicate myself to stock footage and signed up to Pond5.