How long is it going to take to complete any new project is a question we should be always asking ourselves. As Entrepreneurs, we tend to love to start new projects with stars in our eyes about how great it is all going to be, and no real expectation or understanding of what it will take to get the job done.
It comes as no surprise when you read that advertising revenues are down in traditional media outlets. Newspapers and magazines are crumbling. TV and Radio are stagnant.
Movies and of course the music industry are so beat up that few people even notice when another industry player goes under.
Yes the digital media revolution has brutalized conventional media outlets. But that is not the whole picture. There have always been some smart businesses that work through the changes in the system to do exceptionally well, in spite of economic or technological changes. In fact the smart players do not fight the change - they embrace it or even lead the change.
Be careful what you name your newsletter, your products, your services.
Ok so maybe MySpace is not dead yet but the writing is on the wall and it is Facebook’s wall. Visits to MySpace fell by nearly 50% in the last 6 months. (Sep2010-Feb2011).
Recently MySpace did a much needed overhaul of the site and traffic is up from the low point but not enough to stem the tide. MySpace is starting to empty. Sure all the same content and Pages still exist and new pages are still being created but things do not look good.