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  • Sun Valley Conference: Go Big Or Be Lean

    A big part of business: knowing when to walk away from something.

    One of the major themes of Herb Allen’s, Allen & Co. Sun Valley Conference: some of media’s biggest names reorganizing to put priority on programming: in other words — how to cut out the platforms that aren’t working. For as long as I have been operating Upstart: Business and Management for 20-40 Year Old Professionals,  I remain surprised by how many global leaders don’t recognize that shedding businesses that were once superstars and have fell out of favor, for one reason or another, are a part of any viable business model.

    Business evolves at hyper-speed, especially the tastes and priorities of ephemerally-oriented customers, so one has to be flexible enough to change: and more importantly, not be wedded to anything too much, which will create a flawed perspective of a non-essential property. Brett Pulley describes some of the subtle and more pronounced changes that companies are undertaking in his BusinessWeek article,  Sun Valley Moguls Shift Focus to Sales to Refine Media Models.

    Pulley states in Sun Valley Moguls Shift Focus to Sales to Refine Media Models, ” Media executives gather at Allen & Co.’s Sun Valley conference this week looking to shed assets such as the Hulu LLC video website and G4 game channel amid a declining global stock market and slowing economic growth….“I talk to some bankers inside of big media players and they are seeking to refine their models and shed some things that they once thought they needed to own,” said Anthony LeCour, a New York-based media investment banker formerly at LaidLaw & Co. who is now a consultant. “We’ll see a lot of deal-making and it’s not going to be all monster deals. There will be a lot of small, sweet spots.”

    You can tell a lot about a business or an executive, by the way they pivot in the face of an unexpected reality: by the way they can see a failing or insignificant asset, even while it has some value, yet they still see that the future value will never meet perceived or real-time expectations. A big part of business:  knowing when to walk away from something: to reduce something  significantly or close it altogether — something that you really appreciate and have put incredible effort and resource to. It’s hard, but necessary.

    Good Luck.

    Calvin Wilson
    Founder and CEO
    Upstart: Business and Management for 20-40 Year Old Professionals

    Filed Under: Gamechangers


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