In reflective Saturday mood, I want to continue the discussion of the last two days on digital networks. This time not singling out specific networks or people. I’m also restricting the networks to those that start off as microbusinesses and build to at least mid-market positions.

This is the question : How do we measure success in a digital network?

The simple response is : against the goals set by the founders when the network was started.

That’s a bit fuzzy because goals can change; ambitions can grow or recede; new horizons can beckon; the original goals may have been unattainable or too easy because of lack of experience in the founders.

So we need an objective measure. I believe there are two :

1. The network sells to a deep-pocketed buyer, leaving the founders rich and satisfied.
2. The business becomes a viable company, paying salaries and fees to others, and a tidy income to the founders, while also growing asset value as time passes.

I suspect many an online publisher would settle for either, whatever way their initial preference leaned.

There are other measures too. For example, a business may not make much money, but gain credibility and respect among the audience it serves. The founders may then launch ancillary careers as consultants or advisers. But here we’re concentrating on publishing income from content delivered, so we’ll eliminate these sideline activities.

I’m guessing that anyone who becomes an online publisher starts out with one of the above two objectives as their main goal. What then do they need to do to reach digital Nirvana?

1. If you’re rearing a business for sale you are essentially a digital farmer. Agricultural methodology should be built into your plans.

For instance, be aware of the weather, by which I mean the internet climate, which can go from euphoric (1999) to dustbowl dismal (2001) in very short order. Sniffing the digital wind should be an important part of your day.

At present there’s a general feeling that Web 2.0 is in a mini-bubble state, with no-one currently launching IPOs on their startups. There’s also a dangerous belief that Google, the classic 2.0-timer, will protect everyone else in the space with its long coat-tails. Not a good frame of mind to adopt.

You also need to get your product right. Is it a generic thing made to be branded fully by someone else after purchase? Or is it an exotic offering that needs good branding now? I can think of examples of both out there as I write.

If it’s a shell of an idea, it will fail or succeed by the state of the market at the time and should be brought to sale as quickly as possible and in the right conditions. Such mass market fruit ripens quickly and begins to rot before you know it.

If it’s the exotic variety, it requires a unique selling point to carry it into the arms of an eager buyer. In many ways this type of network is more suited to Objective 2 than to 1. However, it can be very attractive if its branding is well-thought through and admired in the marketplace.

So, as a digital farmer you’re either selling raw chicken carcasses or chill-counter Chicken Kiev. You definitely need to know which it is, or you’ll end up giving someone indigestion.

2. If you are incubating your network as a viable business you should attend to all the things that such businesses require, from infrastructure to branding and product excellence.

This is the slower path as your objectives are longer-term. But it’s the traditional path. Few people in the past built businesses to sell under bubble conditions, catching the big wave as it forms. Only the surfing, internet generation has specialized in this kind of California dreaming.

Conditions are never less than dangerous for those who venture out into the swell. Such people really do need a gameplan for when it all goes horribly wrong. Like an alternative business plan that allows them to morph easily from Objective 1 to Objective 2, with scarcely a flutter of attention from eagle-eyed onlookers.

In the interim, success is measurable by where you are now in terms of the market conditions, the grasp you have on the situation, and the positioning you’ve achieved in the light of the outcome aimed for.

If that sounds complicated, it’s so because, until the wished-for outcome is met, you are still in no-man’s-land, that messy hinterland where the future is dark and the present edgy.

Taking home a good paycheck is some consolation for these uncertain times. In its absence, it should at least be imaginable sometime soon, or you’re in the wrong business.

And Syntagma Digital? Where do we stand? … Maybe I’ll tell you one day.