Posts tagged ‘business models’

22 March 2012

Sh*t My Dad Says: On Joining The Creative Economy

I’ve started a new gig, writing a column/blog for Smarter Business Ideas, a magazine and website for small businesses who use Telstra services. Here’s an excerpt from my first post:

When I was at high school, the adults in my life told me I could be anything I wanted when I grew up. By “anything”, they meant a doctor, a lawyer, a professor or a business tycoon.

Instead, I chose to go down a creative path and studied journalism. For this I blame Robert Redford and Dustin Hoffman and their representations of crusading journos Woodward and Bernstein bringing down President Nixon.

After graduating from uni I spent months looking for a job, and ended up taking one as a technical writer for a management consulting firm – not at all what I had imagined to start my career, but at least I was using my writing skills.

Since then, I’ve had a series of creative and not-so-creative jobs, in a variety of industries, always related in some way to writing, and now I run my own consultancy. I’ve never regretted my career choice, but I sometimes reflect that life would have been easier if I’d just become a more traditional desk jockey in a more lucrative field.

Fast forward to 2012, and the sins of the father have been revisited upon the children. Both of my kids have just finished uni, with creative-type degrees, and they’re now trying to find a role that fits with their passion and what they’ve studied.

So from the perspective of someone who has worked in the creative space for a generation, what advice do I have for my Gen Y kids as they start their careers? In the spirit of “Sh*t My Dad Says” (but with less profanity), here are my words of wisdom:

• Regardless of what you read about successful people, a creative, stimulating job that starts at 9 a.m. and finishes at 5 p.m. is probably non-existent – at least I haven’t discovered it yet.

• Chances are you will feel caged in by a ‘normal’ job and will want do your own thing. But though you may hate working for The Man, it pays the bills….

Read the full story

14 November 2008

Sorry to tell you, but the market doesn’t care

Like a Molotov cocktail hurled into a crowd, Publishing 2.0 blogger Scott Karp has ignited the already heated debate about the future of journalism and publishing with his most recent post, entitled “The market and the internet don’t care if you make money”.

He’s pinched the title from Seth Godin, the marketing pundit who is peddling his latest book Tribes, but Karp takes the idea and runs with it in a long screed about how the Internet has broken the newspaper industry’s business model, a topic about which plenty of people including myself have written about ad nauseum. But Karp offers a detailed and particularly articulate discussion of this issue, writing that “Nobody has the right to a business model – Ask not what the market can do for you, but what you can do for the market.”

As usual with this sort of thing, the comments are as entertaining and thought-provoking as the blog post, and as a former journalist I can relate to the responses from people in the traditional media. The words of Thomas Jefferson, author of the American Declaration of Independence, still echo in my ears as one of the main reasons I got into the media business: “Given a choice between a government without newspapers and newspapers without government, I would not hesitate to choose the latter.” The media have an important role in informing society and keeping governments honest. But while Jefferson specifically mentioned newspapers, if he was here today I think he would understand and approve of the Internet and blogging. It is the same principle he was talking about back in the 18th century – free speech. Whether it’s Rupert Murdoch or Ariana Huffington or Joe Bloggs exercising that right doesn’t matter.

At the end of the day, say what we will, the market doesn’t care about ‘quality’ journalism and comprehensive local news coverage. We collectively need to find a model that works in this new and changing environment. I agree with Karp that a future business model lies in the power of networks, not the power of monopolies.

[Reproduced from Zazoo blog]

5 November 2008

Patients embracing Web 2.0 / Health 2.0

The number of consumers in the US using Web 2.0 technologies in relation to health matters (dubbed ‘Health 2.0′) has doubled in the past year to 60 million people, according to a study just released by Manhattan Research.

Manhattan defines Health 2.0 consumers as people who have: 

  • read health-related blogs, message boards or participated in health-related chatrooms;
  • contributed or posted health content online such as: writing or commenting on a health-related blog, adding or responding to a topic in a forum or group, or creating health related web pages, videos or audio content; or
  • used online patient support groups, message boards, chatrooms, or blogs.

The report says, “Pharmaceutical marketers are catching on to the trends, but there’s a long way to go before brand media closes the gap between where consumers are and where budgets are going – only a small fraction of overall pharmaceutical advertising spend is currently allocated to online campaigns. But as we’re seeing with our clients, consumer trends are prompting marketers to put more weight behind digital strategies.”

“…. Social media is a powerful force impacting the pharmaceutical industry – whether or not brands choose to participate. Taking too conservative of an approach to a channel which thrives on two-way dialogue and open communication will undoubtedly distance brands from consumers – especially for those looking to reach the groups most engaged in Health 2.0. And even if brands aren’t yet ready participate in conversations, some sites sell aggregated data to pharmaceutical companies looking to understand the experiences and challenges that patients face.”

22 October 2008

Business time for content providers

Here’s an excerpt from a blog I posted on Zazoo this week:

“There has been a lot of debate in journalistic circles of late about the state of denial most journalists and media academics are in regarding new media.

“A recent blog on Poynter.org recounted an exchange between digital media entrepreneur Elizabeth Overholser and journalism students at the University of Southern California’s Annenberg School of Journalism. Osder refuted one student’s lament that online news business models aren’t working. Then she advised the students that to figure out which online business models can work, ”Start with the impact you want to have. Figure out what audience you need to assemble to have that impact. And what kind of content is needed to do that. Then price it out: How much money do you need to do it?”

“According to Overholser, a J-student groaned in reply, “If I wanted to do that, I’d have gone to Marshall (USC’s business school).”

“Osder countered that while that response was understandable, thinking through the business side of journalism “forces you to be relevant and useful versus arrogant and entitled.”

“I say: hear, hear!….”

Go here for the rest of the entry.

3 June 2008

More thoughts on social media business models

I suppose it’s no surprise that there’s a lot being written about viable business models for social media at present (see yesterday’s entry). Bernard Lunn at Read Write Web posted an article last week that has too many great points in it to summarise, so I encourage you to follow the link and read the article. Essentially, he opines that social media are at a fork in the road where they need to decide whether to remain a walled garden or an open, utility-type model. Interestingly, he says that MySpace is in a much more comfortable position than Facebook, and that LinkedIn is the most likely network to make a walled garden work (maybe it’s my age and stage of life, but I find LinkedIn much more useful than the others – anyone agree or disagree?).

Some other relevant articles that have been posted in the past few days:
Enterprise Adoption of Web 2.0: It’s Happening
Will Social Networks Remain Low-Ad Districts?

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