Today I, along with all the other film guys who work with Red cameras, got a message from a fellow entrepreneur and guy I respect greatly- Jim Jannard of Red:
<<
I am not your father. Nor is it my intention to be. But I have some advice that is worth exactly what you are paying for it.
Be very careful with your spending. The world is in financial turmoil right now. I strongly recommend that you take care of your personal finances and tighten your belts.
If you can make a purchase that can make you some money, buy it. If you are considering making a purchase "just because"... please think twice.
Our customers are important to us. But not at the expense of their financial safety. We view RED as a long term partnership with our customers. Not a quick buck.
So be careful. We are all in this together. For the long haul.
Jim
>>
It was a bit sobering to realize that even the billionaires among us are concerned about the economy.
On a much smaller level, I’m seeing some things happen in my own business and social circles that points to some serious problems. I found out two guys I know have been out of work for weeks, and I had a pretty big client fall through this week myself.
The client is simply freezing everything right now and not doing any marketing for the year. That means their website will not change for the remainder of 2008 and until further notice, and it means that they are not going to do any video or television spots, either.
This is a mistake.
I know times are really tough for many of us. I know the stock market is down scary amounts. I know homes are being foreclosed all across the country. And yes, money needs to be doled out carefully and intelligently so that every dollar you spend does the work of several.
But to just freeze? That’s an emotional, panic response. It’s the kind of response to threat that often gets one killed in the wild. It’s the same thing for businesses.
As for me, yes I am being careful about spending. I’m a financial conservative/social liberal guy. But I am not stopping myself from investing in my companies and my own future. That would be stupid. It would be giving up.
Meanwhile, I’m hoping that this panic mentality that we’re experiencing around the globe subsides soon so we can all get back to work and make the economy strong again.
Technorati Tags:
business, living in los angeles