A massive deflation of the Bank of England crossed the Atlantic and caused The Panic of 1797, crippling the US real estate market for 3 years. The 1807 Depression lasted 7 years. Then came the Panic of 1819, ’37, ’57, ’73— and plenty more “bubble bursts” since. Did I mention the great depression?
So, this ain’t our first rodeo. Despite that fact, it’s just too easy to get caught up in the daily reports on our current recession. It’s pretty easy to freak out, especially if you’re keeping up with the news. It’s easy to give in to our worries and panic. But, like mom always said, “Worry never fixes anything.”
According to the timeline, our young little nation is pretty good at it, though—worrying, I mean. People are going nuts with fear that any day, any one of us could be out on our ear looking for the next thing. But, how is that different from any other time in our lives?
Nobody’s denying 2009 will be a rough year for broadcasting and most industries. We will see our friends, family, perhaps even ourselves be hit with heavy burdens, and we will survive to forget it, living to panic another day.
Computer scientist Alan Kay once said: “The best way to predict the future is to invent it.” So I’m stubbornly refusing to be grim about 2009, and instead looking forward to what I think will be it’s bright spots.
Customer Service. When businesses fold, competition increases. And those last few will do anything to keep going—even offering—gulp—customer service! Keep an eye out, it’s happening in 2009!
Online Video. This new media channel will continue it’s move to the forefront, offering new opportunities for creative talents. One such opportunity for radio to explore is turning their audio only promos, into video promos, or video imaging. How much bigger would your spring promotion seem if it came with it’s own video? Let your audience turn this video, and your promotion into a viral phenomenon.
Internet Radio. This is the year that internet radio may finally go from a cool concept to a successful platform. Deloitte & Touche says “In 2009, internet radio may not just reinvigorate the medium of radio. It may reinvent it.” This means increased opportunities for voice talents, imaging pros, and on air staff.
Outsourcing. Once confined to customer service hotlines, outsourcing is big and getting bigger. Hospitals already outsource radiology duties to Indian docs, and smart broadcasters will look to do the same. In small markets creative imaging departments have already been outsourced to creative teams with greater capacities and resources than ever existed in the small markets. Large markets will experience this same push upward first as a means to save cost, but ultimately as an outlet for better creative writers, voice artists, and producers.
Leadership Opportunities. Great expectations are being placed not only on the incoming administration, but on you. Those of us left to clean up the mess will be relied upon heavily. This is your chance to shine, and show leadership. In times of stress things that never would have been possible ($1 Trillion Stimulus Package) become possible. For you this will mean more responsibility, but also more chances to show how valuable you are to the team. Be a leader of ideas, and effort – This year it will get noticed more than ever.
Opportunities will abound in 2009 to excel in your career. Granted these may be on entirely different paths than you have pondered before. Be open to these opportunities, and experiences – you never know where they will lead you.
I’ll end with an adage from the great Warren Buffett: “Be fearful when others are greedy, and greedy when others are fearful.”
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