Abundance vs Famine Mentalities: Which is Better Now?

December 27th, 2008 | Posted in Latest posts, Thoughts | No Comments
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I was talking with a tech entrepreneur friend of mine today over a cup of coffee.  As you would expect, the dialog went straight to the recession and all the problems that we’re facing in the world economy.

Then, he said something that completely struck me… “I’m worried it not just a recession, I’m worried its the next depression.” And, because he’s sooo worried about that “coming” depression, he’s already laid off over 50% of his staff.

And, then it hit me, the Abundance versus Famine Mentality.

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The “relative” youth of America…

December 24th, 2008 | Posted in Latest posts, Thoughts | 1 Comment
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Yesterday I spent the day interviewing interns.  Yes, interns.

It was a bit of an eye opening experience about a number of things.

1) Universities teach the wrong stuff to marketers.  Maybe it’s just my focus on startups and tech businesses, but it really seems like they focus too much on the big picture, the theory, and not enough on the execution.  When I was in college (Computer Science), they taught us how to PROGRAM.  If you’re studying marketing, why don’t they teach you how to execute and measure marketing programs? That’s what you’re going to be doing most of the time, and what you’ll be doing when you get out of school.

2)  We’re turning out great entrepreneurs.  Most people that I interviewed had big plans.  One guy had already purchased and turned around a business and had it operating, profitably generating “passive income.”  The people coming out of school these days have, generally, a pretty positive and aggressive outlook on life.  I really think they’ll make some great entrepreneurs someday (and already are to a certain extent).

Over time, we’ll see how the intern situation develops.  It’s the first time we’ll have interns in TEMPUS.  And, while I’ve used them at other gigs, TEMPUS is a very different organization.  While I’m strongly committed to training and trying to mentor, I think it will take a very self-determined and motivated person to “swim” here.

But, the interns are our future, so we’ll do it.  “Teach them well and let them lead the way…”

OMG, Whitney?  Too much egg nog.

Merry [[insertholidayyoudohere]] everyone!

The downturn is an opportunity, if you’re smart enough to take it.

December 20th, 2008 | Posted in Latest posts, TEMPUS, Thoughts | No Comments
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Over the last few weeks, I’ve talked with at least 50 people about the market recession in the US and worldwide.

And, based on this, I have come to a conclusion.  We are in irrational panic. People are over-reacting.  People are slashing budgets WAY TOO FAR, and people are slashing necessary heads.

Given that the recession was going on last year, what were you doing then?  Were you slashing budgets?  Or, were you making plans and taking action?  How was last year compared to this year?

And, for your target customers, remember it’s not their entire budget that’s being slashed, it’s just the stuff that isn’t important to their business.

Smarter companies realize that a recession is time to prove your value to the customer, and to aggressively take action.  Advancing companies capture market share and become more visible as a “star” in the dimness of the market. And, they most importantly position themselves more effectively for the time when the “mindset of the market” decides that it’s time to start executing on the backlog of projects.

My plans for 2009 include becoming more aggressive than I’ve been in the last decade (since the last bubble).  What about you?

A downturn is an opportunity, if you’re smart enough, and ballsy enough, to take it.