Call me old-fashioned, but I still meander through the city malls here, usually to purge the cache in my brains, to be ready for the next wave of work that demands creativity. Yet, when I traverse through many of these malls, it is common to see white boarded walls in what used to be vibrant retail shops. There seems more and more white walled up spaces than there are active retail shops these days, and it is worrying. It reminds me of many years ago when I was in Melbourne, and there are streets of vacant shops, and plenty of “for lease” signs everywhere. We are now facing that here.
If you are a CXO, the most important things that occupy must be two things – profitability and sustainability. You can be profitable today, but can you sustain the company for the infinity? Profitability and sustainability are therefore two sides of the same coin. You will have a dud coin if you only have one embossed side.
Times are bad. And in bad times, marketers do two things, spend more, or spend less. The wise spend more in bad times. Why?