Dear Our Awesome Planet Friends,
A Merry Christmas and a Happy New Year to you and your family!
2018 was brutal in terms of disruptions in the social media capital of the world. Magazines closed, billboard placements dropped by 50% and agencies collapsed as the media playing field transitioned to digital publishing. E-commerce boomed with logistics innovation with more players providing an online solution so that you no longer have to brave the traffic. Entertainment shifted to Netflix, Amazon Prime, Youtube and Gaming, moving away from traditional TV channels. Most of the bloggers we started with in 2005, blogged less, moved to micro-blogging or social media or quit blogging altogether. Our kids future is now being threatened by Chinese economic invasion, bugbog or dignidad bullies and the looming 2022 presidential elections.
Amidst all the noise, I learned to focus on what’s important in business and in life.
Who are your Friends and Family?
I learned painfully that your business partners are not your friends, especially where money is involved. Your friendships don’t flourish automatically if you don’t work and set aside time to meet and build the relationship. Your family loves you no matter what, so they deserve your time. They are the people to build new traditions with.
Your friends are those people who you want to become your family because you respect their values and you become a better person with their association. So you have to build this friendship over time by making sure that you meet regularly in the present, share part of your past lives to learn from and build a future together with them in it.
Your family deserves your time, and we need to teach our kids the value of family. We have to make sure that we are together during birthdays, special milestone celebrations and, most importantly, Christmas and New Year.
Cash Flow vs. ROE (Return on Ego).
We had a sort of mid-life crisis this year because I let the temptation of ROE overtake ongoing cashflow in the digital business. We spent too much time on travel that did not return any cash flow, and we neglected building new cash flow to help us survive the digital disruption.
At one time, I hated agencies, especially government offices, that didn’t care enough to pay small and business enterprises on time. Cash flow is the lifeblood of a digital enterprise, and now I know why serial entrepreneurs start a new business every time to balance out their cash flow portfolio in order to be ready for any disruption.
It’s instagram cool to be sponsored for travel and experiences, but older generations frown upon digital media getting paid. We always promote monetizing on the things one is passionate about, but I also need to learn to balance it out with stories that matter without monetization in mind.