The Fall of VICE and BuzzFeed: Lessons in Purpose, Attention, and Success
The big news last week shook the business world as VICE, once backed by industry giants like 21st Century Fox and Disney, filed for bankruptcy.
It was a company born from a punk magazine, renowned for its bold and explicit approach to reporting.
While VICE may not have been everyone’s cup of tea, its previous valuation of over $5.7 billion dollars was undeniable.
Yet, here we are witnessing their downfall.
In a similar turn of events, BuzzFeed, known for pushing boundaries and capturing a rare young audience, recently closed its doors.
Apparently, the demand for quizzes determining “Which Rom-Com Woman You Are” and articles on surprising life hacks had its limits.
Both of these companies began with a clear sense of purpose.
They catered to a specific audience, offering an alternative to the unsatisfying news options available at the time.
They served this niche passionately and powerfully, staying true to their mission.
…until they didn’t.
Something shifted along the way.
As they grew, it went from intention to attention.
The quest for more people, more likes, and more clicks became paramount.
Amidst the increased visibility, they failed to cultivate a genuine following.
They got more eyes, but they didn’t get more fans.
They lost touch with their initial purpose, merely showing up for the sake of it.
Their growth became an end goal in itself.
Just growing to Grow.
And it fell apart.
Can you use hacks to get leads? Of course.
Can you get 1,000 people signed up for your webinar? Sure.
Can you build your social media following to 100K followers? Yep.
But what does that actually do?
Would you rather have 2,000 freebie seekers at your workshop or 50 perfect-fit people show up that you understand and can uniquely serve?
Attention does not automatically convert to money.
Be on TV,
Run a ton of ads,
Pay for top Google ranking
… and you can still end up with zero sales.
The clarity of your mission and intention is what turns strangers into clients.
Gathering the right people for a shared purpose and goal is what pays off.
Let this news of VICE and BuzzFeed be a powerful reminder that Success isn’t a destination.
It’s a maintenance program.
It requires continued examination, evolution, self-growth and integrity.
Remember why you embarked on this journey.
Envision the world you aspire to create.
Above all, cherish the lives you aim to impact.
Entrepreneurship is a remarkable endeavor, and although you may sometimes feel small, you are in a position of immense potential.
Embrace your unique path and trust in the power of following your heart and intentions.
You have all the makings of true success.
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