That’s a heck of a lot of money.
Think about what else that money could buy.
Blog
-
Prospering in the downturn
Prospering in the downturn
It’s absolutely no secret that the US economy is headed to hell in a handbag, and honestly, it’s overdue. We’ve spent the last 20 years inflating one bubble after another – defense in the 80s, tech in the 90s, real estate in this decade – and the time for another correction has come. That said, while I believe that many of the large financial institutions need to get their houses in order and take their knocks, I also desire no harm to come to my family, friends, and community. Here are some thoughts about how to weather the storm and even prosper during it.
First and foremost, get your own house in order. Figure out exactly where you are financially, and do your best to clean house. Cut down discretionary expenses as much as you can without turning to a miserable quality of life. You -must- have three months’ mandatory expense funding set aside, or as close to it as you can. That will give you a cushion of three months to figure out next steps in the case of job loss.
Having a strong personal network is more important than ever. Not just a strong network, but a large one, one in which you participate and try to help as many people as you can and ask them to do the same. With so many social networks and digital communities, this is easier than ever. A strong network will provide you with information you’ll need to make decisions, and will also provide you with leads if you need a job, etc. as long as you bring as much or more value to the people in your network. The key is to get building as fast as possible. Reconnect with old friends, establish new friends. Attend conferences and other meetups, such as PodCamp, BarCamp, MacCamp, etc. that are free or low cost. Look for opportunities to help others.
I strongly recommend Keith Ferrazzi’s book, Never Eat Alone, as a good guide on network building.
Build a strong personal brand. Having a personal brand that’s established, clear, and unambiguous gives you the advantage of being memorable. If you can speak confidently about something you’re an expert in, you’re heads and shoulders above most people who can barely put together two words about themselves. That will translate into more opportunities for you. Be clear about yourself, about your goals, and about your passions, and you will build presence.
I strongly recommend Mitch Joel’s Six Pixels of Separation blog for more reading on personal brand.
A downturn is also a crowd thinner – if you’re able to weather the storm, once it’s over you’ll find the playing field emptier than normal. Strategically speaking, as competitors go bust during a downturn, if you’re able to weather it, you’ll pick up marketshare and when business trends upwards again, you’ll be in a much stronger position.
What things will you do to weather the economic downturn?
-
Make Music with Gumballs and MIDI
Hat tip to Erik Carlsson for the link to this insanely cool idea.
[youtube]https://www.youtube.com/watch?v=ziIdjrR_MRs[/youtube]
-
Have you had your coffee today?
Your Marketing Over Coffee, that is. It’s the weekly show I do with John Wall of Ronin Marketeer and The M Show in a Dunkin Donuts in Framingham.
-
Skyhook Wireless, iPhone, iPod Touch, and Big Brother
Interesting takeaway from Macworld today:
Skyhook Wireless has driven around the US and Canada, mapping 23 million Wi-Fi hot spots to a GPS. Even if you’re not connected to the hot spot, the beacon service knows which hot spots you’re near, so when you use the Maps application on the iPod Touch or iPhone, you still get location data.
Neat, huh? Cool, huh? as Steve Jobs said.
Wireless is bidirectional.
You know what hot spots are near, and Skyhook’s service can triangulate on that.
The hot spots know you’re near. When you turn on your Wi-Fi enabled device, the grid knows where YOU are. All the time. As soon as that Wi-Fi laptop, iPod, iPhone, or other device powers on and starts looking for access points.
Food for thought.
-
MacWorld takeaways for podcasters & new media
A few initial thoughts…
1. The MacBook Air is a lovely product, designed for the road warrior. I foresee great uses for it for conferences and things, but it’s not going to be a media machine. 80 GB will go awfully fast. 1 USB port and no Firewire are also inhibitors. Look for Multi-touch features on future MacBooks and MacBook Pros if you want the cool stuff – I’d bet WWDC.
2. The iPod Touch and iPhone have lyrics restored – so if you’re a podcaster, be sure you’re copying and pasting your show notes into the lyrics tab for all the world to see as a self contained show.3. iTunes continues to be the venue of choice, unsurprisingly, for Apple devices. If your podcast isn’t in iTunes, it’s not in any of Apple’s stuff.
That’s the immediate takeaways for new media producers.
-
Why Social Media and New Media Can Be Mentally Damaging
Why Social Media and New Media Can Be Mentally Damaging
In a recent discussion with my teacher, Mr. Mark Davis, one of the topics that came up was how we remember things. At one point, the conversation turned to social media and new media, and how new media can be incredibly damaging to our perceptive abilities for one reason: we always assume there’s a replay.
Think about it. Missed a point in that audiobook? No big deal, just shuffle back some. Didn’t see a play in the game? Instant replay will beat it to death for you. Couldn’t go to a conference? It’s on YouTube. Even if you were there, if you weren’t paying attention and were just chatting, the conference DVD or podcast will have what you missed.
The key point is that we become more mentally unfit every time we outsource our ability to perceive and remember. We become so accustomed to being able to download a copy or stream a video that our faculties for capturing a moment in our minds diminish.
Why does this matter? It only matters if you find yourself in situations, in moments in life, when nobody and no device is recording. Chances are you’re not already recording when a child takes a first step or says a parent’s name for the first time. Chances are you’re not already recording when a master teacher demonstrates a technique just once. Chances are you’re not already recording when a singular event happens on the street nearby. Oh, lots of people will likely be able to get various devices up and running quickly, but your mind is the only always-on, always-recording device that’s instantly ready to go – if you train it to be.
Is new media bad? Of course not. But it does have consequences.
How do you counteract the degradation of human faculties in an ever-increasingly wired world? Cultivate them. Give yourself exercises to practice. For example, look at a picture of a crowded street for a few seconds, then try to recall as many things as possible from the scene from memory. Listen to a melody or conversation just once and reproduce what you can. In these ways and many more, you can give your brain the mental fitness it needs to capture the moments of your life as you live them, instead of lamenting a device’s boot up time.
-
A Choice with Grief
A Choice with Grief
You have a choice with grief that results from loss, from death. On the one hand, you can choose to let it consume you, to let it haunt you, sapping your vitality away, until all that is left is a mere shell of what once was a human being. This was the fate of my grandmother after her husband of 50 years died. She lingered on for years after, but her heart and soul died with her husband, and her body just needed to catch up.
On the other hand, you can transmute grief. You can transform it into raw motivation, motivation to do great things, accomplish great works, help as many people as you can, in the name of the person you’ve lost, until their name outshines the grief, banishing the darkness with the light you dedicate to them. Your grief can be fuel for the fires of creation, solution, and that grief can change the world, make it a better place for all who survive the one who was lost.
How will you honor the ones you’ve lost?
Seems I lost my my status quo.
I looked up one day, you were pulled away
now I ain’t got much to show.
Where you’ve gone to I don’t know,
But I can love you.And if you love me I can hold on tight,
and if you love me I won’t fall off this ride.
And if you love me I can go anywhere.So I will wait for you I swear.
The night feels like it’s unending,
but I don’t care.
And I will wait for you I swear.
The sun’s coming up in the morning
and I’ll be there.Every step just makes me tired.
Every answer brings more questions.
Though I try to feel inspired,
I can’t change the way I’m wired,
but I can love you.And if you love me you can heal my scars.
and if you love me I’ll move to the stars.
And if you love me I can bend but I won’t tear.When it’s done we’re not alone–
the door opens on its own
and we will come home.Dedicated to Ashley Spencer’s kids.
-
Metcalfe's Law and Network Promotion
Metcalfe’s Law and Network Promotion
I’ve had a couple of conversations recently involving social network marketing. One of the things that has been on my mind lately is network size. With social networks and social media, once your network reaches a certain size or focus, it has value in and of itself. Ask Chris Brogan to mention something to his network on Twitter and a lot of people mobilize. Ask Mitch Joel about public speaking in your area and chances are he knows someone. Ask Bryan Person about social media breakfasts.
On the opposite end of the spectrum, there’s guerrilla marketing, using all kinds of interesting tricks to build audience using the pre-gathered crowds common to the most popular social networks.
The catch is this: the tools that you use to get your network off the ground – MySpace tools, LinkedIn clubs, etc. – are the very same tools that can be detrimental to your network as it matures. The risks of having an account closed due to skirting terms of service (ask Scoble about Facebook) rise proportionally to network size and value. The larger, more mature network you have, the less risk you want to take.
The big question is: when is it enough? When do you know that a network has matured to the point where loss of it due to guerrilla marketing would be counterproductive? Sure, a few thousand friends on MySpace takes time to replace, but when is the network really an asset you can’t afford to lose?
I would argue that it’s Metcalfe’s Law that will guide us. Metcalfe’s Law operates in a network such that every new entrant to the network proportionally increases the value for all participants. The classic example is the fax machine. One fax machine in the world is an expensive doorstop. A thousand fax machines has value. A million has significant value, and every person who buys a fax machine increases the value of fax machines everywhere.
When do you know when to hang up your guerrilla hat? When your network becomes self-sustaining. When people are joining your network for the value of the network itself, in the form of unsolicited friend requests in a steady stream, when advertisers start coming to you to ask for your help in promoting something to your network. When Metcalfe’s Law kicks in and people invite others to your network because the value of the network increases with their presence. Hang up the guerrilla hat on that network and start a new one that lets you continue to experiment with bleeding edge tools.
