My failure story: a well-known local news outlet, but no business
A lot of people write about their success stories, or try to sell you some service while pretending to share their “secrets”.
I just want to share one of my failure storie.
A few years ago, I decided to create a Facebook page about the capital city of one of the small European countrie. I posted local news, event announcements, and UGC from people living in the city.
Basically, it was a small local media outlet focused on one city with around 650,000 residents.
The idea was pretty simple: build a large local audience and eventually monetize from sponsored posts from local businesses.
I started working on it and initially used Facebook targeting to grow the audience. Facebook was giving very good reach to this type of content at the time, so the page grew relatively quickly and became recognizable.
At one point, our content was reaching practically every Facebook user in the country at least once a month.
Larger news outlets started quoting our content, and people started recognizing the page as a brand associated with the city.
At our peak, all of our publications combined could generate around 4 million views per month.
For a country with only around 1.8 million people, that a pretty good result.
Then I decided it was time to start monetizing it.
I offered the first advertisers free posts, or posts in exchange for small barter deals, just to test whether this could actually work for local businesses.
And that's where the problem started.
The sponsored posts, even without links in the text, would get extremely low reach — sometimes only a few hundred views.
As soon as Facebook recognized the content as commercial, it seemed to distribute it much less.
As a result, the offer was no longer very interesting to advertisers, and they weren't willing to pay for it.
So I ended up with a large audience, millions of views, and even some media attention — but no real business model.
However, I learned several very valuable lessons from this project.
1. A large audience does not necessarily mean you have a business
I had an audience, millions of views, and media attention. From the outside, it looked like this thing should obviously be making money.
But only when I actually tried to monetize it did I realize that a large audience doesn't automatically equal a business.
You need to think about this from the beginning:
Who exactly is going to pay for access to this audience?
And is the platform you've chosen actually suitable for the business model you're trying to build?
2. Test monetization as early as possible
I spent too much time focusing on building the audience and only started thinking seriously about monetization afterwards.
If I were starting again, I would test the business model much earlier.
Even if the first result was only $10 or $20, it would still be a signal that some kind of business model works.
The results can be tiny, but there should be some results.
That way, you can at least see that as the side hustle or project grows, the potential for profit grows with it.
If you don't know whether your idea can actually make money, you can spend a year or more looking for a needle in a haystack.
3. Don't build your entire business on a platform you don't control
This is probably one of the biggest risks.
If your entire business lives on Facebook, Instagram, TikTok, or any other social network, you're completely dependent on their algorithms and rules.
The algorithm can change, and content that reached 100,000 people yesterday might reach 1,000 today.
Your account or page can also get banned, and you can suddenly lose access to an audience you've spent years building.
You need to move your audience somewhere you actually control.
A website, email list, community, or some other channel that isn't completely dependent on someone else's algorithm.
Overall, I don't consider this project a complete waste of time.
And I definitely haven't given up on it completely.
I still think there might be a way to transform the project into a different business model. The brand name is still remembered by people, and the audience itself has also remained.
So if anyone has ideas or experience with turning something like this - an established local brand + an existing audience - into a successful small business, I'd genuinely appreciate your suggestions.
Maybe someone looking at this from the outside will see a business model that I don't see myself right now.
What would you do with this kind of asset?