Personal note: How to lose your online business in just 10 minutes

On this blog I mostly talk about technical subjects, but as some of you know, I'm passionate about entrepreneurship and when I come across some news that strikes me, I also use this platform to talk about it, and sometimes to sound the alarm.

Today it's not just a single piece of news that's making me react, but several decisions (increasingly frequent ones) made by a handful of web players who have been given the power of life and death over businesses over time, sometimes without even being aware of it.

This post isn't aimed at seasoned entrepreneurs (who already know this problem), but rather at all the new or aspiring entrepreneurs looking to launch an online business in 2020.

You should know that when you build an online business, it can literally sink in a matter of minutes. Even if your project grows, becomes a company with many employees generating several hundred thousand euros, there's a good chance it has weaknesses you wouldn't even suspect.

For those who read my previous article titled "The day Google banned me (for life)", you know that from one day to the next, Google can decide to close your advertising account, and if that account makes up the majority of your income, your business grinds to a halt.

But don't think this only happens with Google, here's a small collection of misadventures caused by different service providers:

From one day to the next, Paypal blocked all transactions of the French startup Ho Karan because some of their products contain CBD (which is nevertheless legal in France).

Many companies that sell their products on Amazon see their products cloned and sold as Amazon Basics, at a much lower price.

In 2020, the advertising account of a company that had spent nearly 60 million dollars on Facebook ads was banned, without any explanation.

At the end of last year, Visa and Mastercard even paused all payments to the Pornhub platform until the platform got its act together (in this case the action was legal and fully justified).

Why am I telling you this?

Simply to tell you to be vigilant and forward-thinking. Whether you get paid through ads or by selling products online, a service provider like the ones mentioned above can, without explanation, cut off your income in a matter of minutes.

You need to keep this in mind: Don't put all your eggs in one basket. The combined baskets may be more modest, sure, but if someone steals one from you, you'll still have something to eat.