Seth Godin is the definition of a true marketing maven. His commentary on business and life often create “AHA!” moments…and sometimes they create “HUH?” moments. His blog this morning is the former. Below is my take on his commentary… (A link to the entire blog entry at the end of the post).
He addresses the issue of the “High Cost of Now.” Being first always carries a premium. And sometimes that premium is not worth the cost.
The closer you get to the source and moment of information, the more it costs. Apropos of the current financial crisis, if you want to know how the stock market did in 2006, you can spend ten seconds and find it in Wikipedia. If you want to know about today, you'll need to invest a few clicks and you'll get the delayed results. Or you could pay a lot of money for a stock market terminal and get the current prices. Or you could even risk prison and get some inside information about what's going to happen before it happens. Which cost is right for your needs?
You can check your email twice a day pretty easily. Once every fifteen minutes has a disruption cost. Accessing it with your SmartPhone in real time is an extremely expensive lifestyle --- and productivity --- choice. Which cost is right for you?
Sure, go ahead, stay hyper-current, but realize it's not free...
Here are a couple of interesting things to ask yourself:
- Are you getting what you're paying for in your quest for now?
- Is it worth it?
Sometimes, in our quest for the new, we overpay. Most of the time, moving down the curve will decrease your costs dramatically, without hurting your ability to make smart decisions.
Alternatively, when you choose to spend the time or the money, you need to be sure to leverage it like crazy.
I bet you are overspending on “now” right now. Not everywhere, just in some of the wrong areas.
Probably worth a personal audit…
“I believe our inefficiencies will now become our greatest opportunities."
--- Angela Ahrendts, CEO of Burberry