An Outlook (and I am not talking email)
I see the glass as more than half full. Yes, Internet stocks are taking a dive, but only because the market had factored high projected growth into their valuations. I have yet to hear one analyst predict a decline in Internet advertising, every single one of them is still predicting growth, and in double digits at that.
More money is going to be spent online, just not as much as some had previously predicted. If there’s growth in web advertising, there’s growth in revenue to blogs and those Web 2.0 companies that rely on advertising. That’s not bad news, that’s good news!
Businesses are going to have to realize that if they have a solid idea they equally have to have a solid plan to make money with their ideas. We can no longer just whip up a few pages of HTML, plaster it with some nice colors and big buttons and plan on living off of VC millions.
Sure there are some hard times ahead, I don’t deny that but one has to wonder just how much of it is because those empty promises of massive fortunes to be made along with typical human greed has come home to roost. We can all run around like chickens with our heads cut off and start talking about (or posting about) the impending doom? Or we can stop the drama and give ourselves a good shake knowing that we will come out of this. The question is whether we will come out of it smarter or just to turn around and start doing the same of nonsense that got us here as before?
People need to stop the doom saying and step up to the plate and start using their personal soapboxes to help us through this trying time; and trust me it will try the best of us. That doesn’t mean though that we don’t have the ability and the power to change what comes next for the better. I just hope it won’t be another round of buzzword labels and powder puff businesses because that will only land us back in the same place a few years down the road.
Now, what happens in a storm? Some trees topple. Some stand tall.
But right now to try to smile and say everything is going great and you should be optimistic is wrong. Sorry, it’s wrong.
It’s time to take steps to make sure your businesses are strong and can withstand the storm. If they aren’t strong, it’s time to fix that and fix that fast.
As the storm passes over us in the next quarter (financial results are still to come, so there’s still a couple of bad quarters to come, particularly with consumer electronics companies and retailers as they get a full sense of how bad the Christmas buying season will be) we’ll certainly see winners and losers.