Managing a Company in the Economic Downs

Andrew Warner interviewed Seth Godin about what it takes to start a company in a down economy (see video). I’ve enjoy reading Seth’s work and believe he is one of the foremost minds on marketing. There were some things discussed in the interview that are similar to what I mentioned in a recent blog entry about why it’s a good time to be an entrepreneur. I wanted to highlight those in order to emphasize their importance:

1. Less competition exists in a down economy. This translates into more opportunity. Find and attack your niche.

2. As a result, the cost of resources will decrease. More deals. Greater discounts.

3. We must focus on building value; focus on our core. Cut back on pork spending and spend time building value. This will forge a stronger position for success when the economy rebounds.

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3 Responses

  1. Thanks for posting my interview. Good to meet you Jacob.

    Andrew Warner
    Founder, Mixergy.com

  2. Jacob – I, like Andrew have followed you here from your comment on mashable.

    Really like Seth’s way of thinking, and having just read the last couple of your posts I can tell you do too.

    Looking forward to visiting again

    Cheers
    Patrick

  3. Thanks for the compliment. Yes, I think Seth Godin has a unique, fresh and practical approach to marketing. Hope to hear from you again.

    Kind Regards,
    Jacob

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