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Questioning Common Wisdom is Important to Strategy

How often have we heard that print is a trusted medium, that awareness and familiarity are goals of advertising communications, or that print is key to touching prospects or customers? The new communications market is filled with opportunities for print entrepreneurs, but going against the common wisdom of industry myths is an important aspect of the entrepreneurial spirit. If you believe it's important to embrace change to be successful, then start by questioning commonly-held beliefs about the medium of print.

Monday, August 23, 2010

Join us on September 15th for the next Economic Outlook Webinar. During this one-hour event, we will provide a first look at what the industry and the economy at large might expect in 2011 as well as share WhatTheyThink's latest print business conditions survey. Advance questions for the webinar Q&A session can be submitted here.

What we believe is true about a marketplace is verified only when that belief is confirmed by the actions of the buyers in that marketplace. There are some persistent myths about print, its current role in communications, and its future one. These are clearly out of sync with marketplace data. Print businesses that cling to them only deter themselves from detecting new business opportunities. When business practices (and beliefs) no longer resonate with the marketplace, we create openings for competitors—both traditional and non-traditional—to fill those needs.

Paradoxically, it's the habits that make a business successful, including laser-focused concentration on goals and objectives, that lay the groundwork for irrelevance. Diverting attention from goals and objectives is viewed as hurting the organization or not part of one's job. Unfortunately, rigid adherence to a singular focus can make successful executives oblivious to change, or even worse, in a state of complete denial. Acknowledging changes in the marketplace takes their focus away from their goals. This means that they wait until some kind of breaking point before they will examine a threat or an opportunity seriously. This can be too late to allow them to be in a position to take advantage of new opportunities, and can even be the death knell for the business.


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About Dr. Joe Webb

Dr. Joe Webb is one of the graphic arts industry's best-known consultants, forecasters, and commentators. He is the director of WhatTheyThink's Economics and Research Center.

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