Nothing happens until someone sells something…
I have stated before that I like technology and the people who are driving its future. I like their vision, their tenacity and their ability to think outside the box. Technology is one of the more inspiring industries today. However, as a marketing person and a communicator, there is some cause for concern.
I am concerned about the explosion of social media sites and web tools. It seems to be “build it and they will come” to the ninth degree. How much money is involved in the development of these sites? Where are the solid revenue models? How much overlap is there? Which sites will gain traction and see pleased investors and which will not? This reminds me a lot of the late 1990s where the goal was to gain market share at all costs and the revenues would come later. We all know what happened when that bubble imploded.
Lately, I have also been exposed to a rash of new, small, well-funded technology companies with innovative products but no ability to sell them. The first job of a technology CEO is to sell the product. Once sales are established then the focus can shift to growing the company. I started my career in retail in the 1970s with another truism: nothing happens until someone sells something.
I have an ulterior motive for my concerns and complaints. I am counting on technology and innovation to catapult the world out of the current recession. Please listen up.