January 09, 2013

Hype

The pundits are quick to tell you that anything old is "dead".  Many of you reading this blog manage "dead" businesses ... so the pundits say.

Then you read something like this about Foresquare (click here).  The popular social check-in service could be "dead" in 2013.  Of course, this doesn't mean that what Foresquare is doing is "dead" ... it simply means hype-meisters seriously overvalued the gold rush.

Or you read something like this, about PriceGrabber.  Two things to pay attention to here.

  1. When asked what one of the big innovations of the past decade has been, we're told it is telling the customer the actual price the customer will pay.  That almost suggests that there is no true innovation happening, doesn't it?
  2. When asked about mobile, we're told that customers are using mobile to research, not to generate incremental sales, yet.  A good, honest response.
Everyday, somebody with a vested interest in promoting shiny new objects will demean your business in an effort to give their efforts oxygen.

Filter hype.

Challenge assumptions.

Focus on what is important.

1 comment:

  1. Anonymous10:17 PM

    As always, remember, the people who got rich during the gold rush were the gents selling the shovels and pans.

    ReplyDelete