Judy's Book Evolution: Avoiding quick sand and lay offs
This article about insider pages, one of our former direct competitors, illustrates the kind of press and organization upheaval that we avoided when we decided to make the strategic evolution from local reviews into local deals.
The evolution we're undertaking isn't easy but it is becoming clearer and clearer that we're on a much better path to a sustainable business -- i.e revenue and profit than we were when we were simply a user generated yellow pages with reviews (community directory). We will have a significantly revised site by the end of the first quarter. I'm looking forward to it....I hope you are too.
I want to be clear here -- I like what Stu McFarlan (sp?) and the folks at Insider Pages attempted to do. In fact, I liked it so much that I competed with them (we started at the same time). Moreover, you should know that in some instances, Insider Pages out-executed us. They did a good job and are good smart people. I wish they had succeeded. That said, the management at Insider Pages spent money much faster than us. And as my management team and I concluded -- there was not a realistic revenue model underlying the sites that we both were creating. Based upon this article in Tech Crunch, I'm assuming that this got them in organizational quick sand. Fortunately, we at Judy's Book are evolving to a happy, firmer, and hopefully more profitable place.