In the news media business all the experts were saying that video was the next big thing.
And they used a buzzy phrase -we’re going to pivot to video!
That was the future of news, they said, so they fired the writers and hired multimedia producers.
Sounded great, didn’t work.
A couple of those sites are in the process of going belly up this week.
As the experts scurry for the exits, they’re leaving unemployed people and destroyed capital in their wake.
But what about the people who thought they were wrong?
If they even notice they may feel some vindication.
It’s not like anyone going to listen to them now
So it’s just another group of so called experts who’ve guessed and got it wrong. Next year those same experts will get interviewed about the next thing they’re going to be wrong about.
The lesson for us, as marketers, is to be skeptical of experts.
If a whole bunch of people rush to one side of the Titanic thinking they have the answer, you might want to think about following them over the side.
You might want to stick all to what you know is correct. You might want to stick with the fundamentals.
If you’d like to get a daily e-mail that is not buzzy and not touted by experts, but only sticks to the fundamentals, subscribe to Timeless Profit Principles today.
No matter what form or fad takes over the market, if you are schooled in the fundamentals you can make your offerings stronger than the rest.
And because experts are nothing more than cool people spouting cool sounding stuff, you can just make money while they’re occupied getting interviewed by their friends about the next big thing.
See you on the high side, FG
P.S. If you were one of those people who thought the pivot to video thing was stupid, this message is for you:
Start doing what you think is smart, right now.
Believe in yourself and make something no expert believes in today.
Even if you don’t subscribe here, I’d love to hear about it – we need more people like you and less experts leading people over a cliff.