Some great insights from Jack Myers on balancing future and present in today's media world, where old models are eroding at the same time the bottom is falling out of the economy... and of advertising/media budgets:
Companies emerge from recessions with visionary products and
services that meet their customers' future needs, not with products and
services that meet the needs and business models of the past. Yet you cannot escape the reality that investing in the future is unlikely to be justified in the current economy.... traditional models are no longer acceptable for companies that seek to generate premium value for their products and services. Immediate
investment with partners that represent the future – partners such as
TiVo and a handful of others – will prepare you for 2011 and beyond. (jackmyers.com)
Myers lists several valuable tips for managing this crux, including having a dual management team to address today's needs and tomorrow's opportunities without either getting short shrift.
