Bad Economy Or Bad Decisions?

What a day, …

Dow is down (again).

Revision3 lets GaryV and Epic Fu go.

I start agreeing with Valleywag.

And then Kent Nichols starts responding to my Tweets.

I’ve had the makings of this post rumbling around in my head for awhile. It is time to post.

If somebody makes a bad business decision, it is their fault, not the economy’s.

If you read the Valleywag piece, they mention a company that “never should have launched at all.” You can argue with their suggestion but I dare anyone reading this to tell me that every company in the New Media space is being 100% smart with their money.

There is a lot of waste in an industry that can’t afford it anymore (let alone should have allowed it back then). It is time to change.

Earlier today, Kent Nichols suggested we “add Revision3 to the ‘Dead Pool.’” I had to argue with him (hence the Tweets mentioned above) – I don’t think it is that bad. But, as we all know, Kent is one smart cookie and, well, when he says something, we need to pay attention.

There are some things that need fixing.

I have to believe there is something in the middle here. I think we can actually respond smart and pull out of this.

I see companies with shows with a few thousand downloads per episode who earnestly hope that one day they’ll be able to pay the bills on this model.

That makes as much sense as lending money to people who don’t have the ability to pay it back – and then giving yourself an obscene bonus for meeting your quota.

And then asking the government to bail you out (at my expense).

So that you can keep you bonuses.

Cause you deserve them.

For bad business decisions.

I applaud Louderback (or anyone else like him) who decides to make the hard decisions. We need to read the spreadsheets, run the numbers, and make the right decisions.

Want to flush this economy down the drain?

Blame it on your bad decisions.

Or, … start taking account for your actions.

And make the hard decisions.

And come out o.k. on the other side.

You can do this.

What do you need stop stop spending money on right now? I know those new Macbooks are as sexy as all get out but, … twenty five hundred bucks growing your audience might be money better spent.

I know it ain’t easy for all of us to build a whole business around our content (like Kent has done) and would love to just produce and let someone else pay but, … maybe the industry ain’t ready for that yet.

Take control.

Make smart decisions.

Don’t blame anything on anybody but yourself.

And then do something about it.

I could care less who you vote for.

I care a lot about what you do the rest of November 4th.

Good decisions will make for a good economy.

Be part of it.

Produce content of value.

Please note: I reserve the right to delete comments that are offensive or off-topic.

  • http://www.davetherio.com Dave Therio

    This was good.

    I get frustrated when all the blogs are biased, but this entry addresses the problem in the most neutral way possible and does it efficiently.

    Good work, and definitely food for thought.

    The real secret is to avoid spending money you don’t have to buy things you don’t need.

  • http://blog.mastermaq.ca Mack D. Male

    Good post Paul, well said.

  • http://www.pamperryprcoach.com pam perry

    great Paul! Thanks!

  • http://www.newprimetime.com Elizabeth Harrington

    Thanks Paul,
    I rely on your sage advice to continue building the blocks to be successful-no
    matter what the economy is. This is why we choose to be new media entrepreneurs-stay nimble and independent. Please keep up the great work of providing this current and valuable resource to us.

  • http://www.music4midnight.com Austin Beeman – Music for Midnight

    I’m sorry to say this but Wine Library and Epic Fu were the only shows on Revision 3, I watched. Wow. I’m kinda sad today.

  • Becky

    You hit the nail on the head! Wall Street should have read, “Deadly Decisions.” If they had, maybe our economy wouldn’t be in the mess it is currently in!

  • http://www.stopmakingothersrich.com Jake

    Paul,

    Amen brother. Everyone is responsible for their own actions and consequences follow all actions. I find it amazing that people get stuck in bad situations and give up. Never before in the History of Mankind has it been easier to build wealth. Even in this Economy. All it takes is a decision to do it. Find a Global Mentor (we are in the Global Economy) and have them teach you the ropes.

    Nice job Paul.

    Jake
    http://www.stopmakingothersrich.com

  • Pingback: Devaluing Content Is A Bad Move Right Now | Paul Colligan’s The People and Business Of Podcasting and New Media

  • Pingback: Take the blame AND the credit | Business is Personal