It is being reported by Yahoo! that Groupon CEO Andrew Mason is about to get canned by his own company.
Getting fired sucks. I can't imagine what it would be like to be fired by a company that I founded. If the reports end up being true, it certainly wouldn't be the first time this happened, and it certainly won't be the last time it happens.
However, if it hasn't been made clear by anyone who has a clue about the 'daily deals' industry, their time is over - at least how the industry is currently structured.
Do a quick Google search on the experience that companies have had when they utilize these deals. Sure, it may be great for a particular business or a one time, small deal but most businesses have had a negative experience.
Even when I had my own business, there was a short time where I was hounded on a daily basis by Groupon, LivingSocial and the others, to sign up and have a deal. However, I had done my homework and there was zero upside and it would have been nothing but a money loser for me. I think most businesses have experienced that and I was smart enough to apply those lessons to my business.
Speaking of LivingSocial, when was the last time you saw a commercial for them? It used to be every commercial break (sometimes more than once a break) on nearly every channel. I think now, it has been six months or more since I last saw their commercials aired.
That being said, I see only two ways forward with this particular industry. First, if there is going to be a national model, there can only be one or two companies - and they can't take 50 percent of the revenue from the merchant right off the top (after the discount is applied). They must take a smaller cut from the merchants to even have a chance of getting some of those companies back.
Otherwise, it's going to just be some local model that is run by a local business. I've primarily seen local newspapers and TV stations getting in on this business. They likely do this because they are able to take a smaller cut of the revenue from the merchant because it includes something along the lines of advertising - so it's more of a win/win for the media company and the merchant.
I'm sure the 'daily deals' industry isn't going anywhere, but unless the firms such as Groupon and LivingSocial change, folks like Mr. Mason are not going to find themselves in the industry much longer.
Showing posts with label Media. Show all posts
Showing posts with label Media. Show all posts
Wednesday, November 28, 2012
Wednesday, April 11, 2012
The coverup is worse than the crime
It's said that character is defined by what you do when nobody (or most people) are not watching.
For those that don't pay attention to sports, former Arkansas coach Bobby Petrino was fired on Tuesday. In the world of sports, most coaches get fired for the team not doing well. Quite the opposite in this case as Arkansas was one of the top teams in the country the past several seasons.
So why would a university fire a coach who was doing so well? By lying to his boss about the details surrounding a motorcycle accident he was involved with.
Sure, it was embarrassing that it was discovered he was riding with a woman half his age, while his wife and four kids were some place else. But a lot of people in high profile positions have affairs and survive.
But when the boss started investigating and asked Petrino what was going on, Petrino should have told the truth, but he didn't. Then when it was revealed that Petrino hired the woman he was having an affair with, over 158 other applicants, that raised some serious red flags (not to also mention the throwback to the days when the boss would hire the secretary who couldn't type).
At that point, the athletic director didn't have choice but to fire Petrino. Having been discovered that he hired his mistress would have probably come out at some point (if not publicly, people within the program would have found out - if they didn't know already). But the athletic director was also lied to about what really happened.
Had Petrino come clean to his boss early in the investigation (or even before one was started), he may not have saved his job. But he would have been able to at least take the high road - if there was much of one in this case. By trying to cover up his actions, it made the final decision to be fired that much easier.
As the links to the articles above showed, his character was largely questioned already. By now, his character is in tatters and he may never coach again. Learn from this, so that you don't kill your career. The lesson, as always, is that the coverup is indeed worse than the crime.
For those that don't pay attention to sports, former Arkansas coach Bobby Petrino was fired on Tuesday. In the world of sports, most coaches get fired for the team not doing well. Quite the opposite in this case as Arkansas was one of the top teams in the country the past several seasons.
So why would a university fire a coach who was doing so well? By lying to his boss about the details surrounding a motorcycle accident he was involved with.
Sure, it was embarrassing that it was discovered he was riding with a woman half his age, while his wife and four kids were some place else. But a lot of people in high profile positions have affairs and survive.
But when the boss started investigating and asked Petrino what was going on, Petrino should have told the truth, but he didn't. Then when it was revealed that Petrino hired the woman he was having an affair with, over 158 other applicants, that raised some serious red flags (not to also mention the throwback to the days when the boss would hire the secretary who couldn't type).
At that point, the athletic director didn't have choice but to fire Petrino. Having been discovered that he hired his mistress would have probably come out at some point (if not publicly, people within the program would have found out - if they didn't know already). But the athletic director was also lied to about what really happened.
Had Petrino come clean to his boss early in the investigation (or even before one was started), he may not have saved his job. But he would have been able to at least take the high road - if there was much of one in this case. By trying to cover up his actions, it made the final decision to be fired that much easier.
As the links to the articles above showed, his character was largely questioned already. By now, his character is in tatters and he may never coach again. Learn from this, so that you don't kill your career. The lesson, as always, is that the coverup is indeed worse than the crime.
Tuesday, February 7, 2012
Panic in Greece...Ahhhhhh!
Worries about the Greece economy put pressures on stocks today.
Tell me how many times you have heard about that. Then tell me how many times that has actually made you worried.
For me, I don't even blink. I think that has been mentioned two or three times per week, every week, for the past 18 months or so. Yet the U.S. stock market is near its all time highs. Sure there are troubles economically in Greece, but there is no need to freak out.
Greece did not get into their economic troubles overnight. They will not get out of their trouble overnight. It will take time, perhaps longer than 'analysts' want, but eventually Greece will get their problems straightened out.
There is no need for the average person to follow every single thing that happens with the Greece economy. Sure, if you conduct business in Greece or have other financial interests, definitely stay in tune with what happens. Otherwise, keep a casual eye on what goes on there.
Business writers need to have something to write about. Every minor thing that could possibly happen in the long road to recovery will send someone into a panic. Trust me, there is no need for panic - everything will work out for the positive in the end.
Tell me how many times you have heard about that. Then tell me how many times that has actually made you worried.
For me, I don't even blink. I think that has been mentioned two or three times per week, every week, for the past 18 months or so. Yet the U.S. stock market is near its all time highs. Sure there are troubles economically in Greece, but there is no need to freak out.
Greece did not get into their economic troubles overnight. They will not get out of their trouble overnight. It will take time, perhaps longer than 'analysts' want, but eventually Greece will get their problems straightened out.
There is no need for the average person to follow every single thing that happens with the Greece economy. Sure, if you conduct business in Greece or have other financial interests, definitely stay in tune with what happens. Otherwise, keep a casual eye on what goes on there.
Business writers need to have something to write about. Every minor thing that could possibly happen in the long road to recovery will send someone into a panic. Trust me, there is no need for panic - everything will work out for the positive in the end.
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