Embracing crisis

If you are somehow engaged in new medie ventures, it is obvious asking yourself how the deep worldwide financial crisis is going to affect you, your company and the service(s), you provide.

Make no mistake about it: I think a lot of the smaller companies with a business model based on consumer advertising revenues are fucked. But for the ones who really sit down and pan out a more worthwhile and sustainable approach, I think there is amble opportunity.

So let’s start from the top.

The times have never been better to make a bet on something that provides real value to people and customers. Real value in this sense means something that saves time and - most importantly - money. If you can solve or are solving a basic need better, simpler and cheaper than the next guy, you have every opportunity of makng it big during this crisis.

If you have got some money to spend there should be plenty of bargains out there in due time. Start ups running out of money. Yes, it’s tough. But its survival of the fittest. And just because someone got unlucky, doesn’t mean that you should be too.

There are only two things I think you should be wary of: First of all you really shouldn’t base your existence on advertising, because it won’t be much of an existence. Second, I think you should think twice about seeking outside capital. The capital markets are tough now, and the last thing you would want are some whiney suits sitting in the back and making your life just as miserable as theirs.

Vad NU! is a consultancy company owned by Mads Kristensen and specialized in helping clients take advantage of the business opportunities created by new media. Click to learn how I can help you and your company.