As reported in the weekend Financial Review it seems MyHome will be closing its doors at the end of the month. This might be no surprise to those close to MyHome but to me it really goes down as the Chicken Heart Award of the year.
PBL don’t launch too many products that fail so dismally, but MyHome is another we can add to Mr Packers list of failed new ventures, and his scorecard reads dismally since he took over/pets projects.
Microsoft were also armed length involved, although insiders tell me they have never seen a Microsoft representative grace their floors.
So now we are down to Realestate.com.au, Domain.com.au and the fabulous little engine that could Homehound.com.
Myhome failed because, well it just truly stunk as a model/platform and is a lesson in how not to build a real estate portal.
I am sorry for the people that put their heart and soul into the venture, the sales people, the developers and anyone else that now has to look for a new place of work. As for the executives that started off this bomb, well they are probably well placed as CEO’s of some other ‘exciting’ new venture in another industry.
Time for someone to actually do something brave, that has the right model for agents across Australia. Did I mention all agents? Well yes, the next venture should steer clear of doing deals with large franchises and look at the industry as a whole.
Rest in Embarrassment MyHome! (CVC and CMH). Sometimes we don’t like what we hear, but truly great businesses/people understand how to take criticisms on board and adapt, then there is MyHome.
Ouch!