Seth Godin’s Advice to Internet Startups In the Down Economy

The other day I was perusing Mashable and I found this video by Seth Godin in which he explains how businesses should change their focus in the down economy. It is short, but worth watching.

If you don’t know who Seth Godin is, he is the author of many popular business books and a speaker with appearances at Google, TED and a number of charities. Godin popularized the topic of permission marketing.

What advice do you have for online businesses and other startups in this down economy?

33 thoughts on “Seth Godin’s Advice to Internet Startups In the Down Economy”

  1. Now that is fine advice. He puts it so simply yet so precise. I’m in a field that I’m already irreplaceable and this really makes me feel good people are getting more specialized.

  2. Nice video. Economy going down hill yet i don’t think about reducing cost for my services which other companies already did. If i’ll face any prob. in future will come up with some special offers but won’t down my prices.

  3. Seth Godin’s advice is spot on. Its during economic downturns when the real innovations and innovators pull away from the pack. There’s no such thing as a recession online… Thanks for keeping me motivated!

  4. Now, when the economy is going down, is the best time for start-ups, when those companies, which wasted “excessive” money during good times, have to cut their costs. In other words, competition is becoming weaker, and that’s an excellent time to step in, isn’t it?

    p.s. Seth Godin is the man and he’s worth listening to, without doubt 🙂

  5. As i am an owner of an Ecommerce store, i’ve several ideas in my mind, like
    Buy 2 get 1 free, 50% discount on particular products, free dvd players on selected products. Many more i’ve in my mind. What’s your thinking?

  6. What you need at the moment is some kind of “Beat the recession how to” social network. Somebody always makes millions if not billions from every recession. You just need to think out of the box.

  7. this man have a big experience we all should listen to him even it is short video .

    i was not know him but i think his video is worth to watched

    thanks for the video

  8. Thanks for the list. Most of these are pretty clear cut. I think companies that can succeed in a down economy set themselves up for really tremendous growth when the economy bounces back. Some of the greatest companies in history set themselves up for growth by planning for the next boom

  9. Seth Godin made a good point about it being the best time, as more people are dropping out of the game. It is also the best value money wise to invest 🙂

    It is not a fluke that the guy has books out there, and has had major success! 🙂

  10. Apart from the very valid things that Seth talks about, I shall simply state this. In a down economy, the market does not disappear. It shrinks. It means that you have to go after a larger piece of the pie than your competitors. You need to do everything necessary to achieve that single purpose.

  11. Seth is a legend, and he sure has good value to add by sharing his insights and experience. Thanks for sharing, this one deserves the StumbleUpon thumbs up it just got!

  12. Seth is a stud. “How do I build value today?” is definitely the right question. I’ll have to post that on my wall here at the office.

  13. That’s awesome! He is one smart guy… Good Luck with it!

    One question I would have for him…

    What are some Key things that you need to master in order to have a highly successful website like squidoo?

  14. Great issues Seth pointed out. It’s very encouraging to know that even
    during this hard economic times, indeed some people can get very rich.
    I think there is always that paradox. I believe we also need to make a
    step by step plan for us to succeed.

    On question: where could I get a listing of all these internet language and jargons?

    thanks

  15. Many people think that recession is an awful time to start making money on the internet. And this is exactly why it’s easier to start doing it now – there’s a lot less competition.

  16. It appears as though this video has now generated a cult following. It will be interesting to watch how many implement what he says and how many of them succeed!

  17. Nice video….Well, this is really worth watching 🙂 its so accurate..
    Economy is going down hill and there is always some ways to use this to get more money…
    Kp up the good work…

  18. Seth Godin, oh wow. In only 2 minutes and 37 seconds he was able to put powerful ideas in there. Thanks for sharing this video. Economy isn’t looking as good, this was helpful and accurate. Thanks again!

  19. I was a little worried attempting to restart my online business during this recession, but I too had the opinion that this would result in less competition. On the flip side, with the massive layoffs, many other people may be trying to make a buck online. So I guess that does add competition, but likely not serious competition.

  20. Yes Seth seems like a very smart man. I guess you need to be to have several successful books and to start a massive network like squidoo. I think I’ll have to find some more of his videos and see what else he has to say.

  21. Seth Godin does preach mostly common sense. His skill is the knack to add quirk to the examples keeping us engaged. As with Purple Cow and his other offerings, there aren’t any lightening bolts in his new book TRIBES, just an interesting take on current and historical topical issues and events.

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