Business

Five years ago, my wife and I had a dream. Together, we wanted to start a blog called "Like that Idea" and so we registered the domain LikethatIdea.com. The idea for the WordPress blog was to have a site where we could identify and review neat ideas which we thought others would like to read about. The ideas came in the form of products, books, movies, services, and interesting article that we read ourselves. In the end though, we ran out of ideas to write about and the site never really took off.

By the time many of you read this post, Like that Idea will be never more. I'm currently working on wiping the site off the server. It's time to say goodbye to one of the few joint Internet projects that my wife and I worked on together. Instead, we'll use the time to work on our own personal projects as well as working jointly on the biggest project of our lifetime, our family.

Below the fold is a post I couldn't help but transfer from LikethatIdea.com over to this site. Thinking back at this moment in time still puts a smile on my face.

Rita McGrath at Harvard Business Review has written a blog post on why she hates micropayments.  Micropayments are financial transactions involving very small sums of money (see Wikipedia). For online publishing, a small fee would allow you to view the content for a certain period of time or for a certain number of articles.

Personally, I'm not sold on the concept of micropayments for content which is probably why I was lured to Ms. McGrath's article in the first place.

The idea has been around a long time — at least since the mid-to-late 90s — with both supporters and detractors weighing in. Millions have been lost by companies seeking to capitalize on streams of micropayments, almost all of which eventually crashed and burned. Myself, when confronted with a request to chip in 99 cents for a one-time glimpse at an article or $2.99 for a week's worth (as some of my local newspapers are doing) — well, I close that window and go away.

The author of the article discusses further the importance for any payment system adopted to consider "how the payment link of customers' consumption chains fits into their total experience". Micropayment systems have a tall order in that they need to be seamless, transparent, and achieve inevitability. Even grimmer for publishers, it's not only the micropayment experience that needs to be improved but also the non-micropayment systems too.

For the past few years, I've paid a yearly subscription to the Wall Street Journal for the print publication and the online subscription. With my yearly renewal coming up very soon, I've decided to discontinue my online subscription to the WSJ. Why would I do that? There are some very basic reasons to why I'm dropping WSJ.com. I rarely find myself reading the online content of the WSJ. I either already read the stories in the print version of the WSJ or I have found myself already familiar with the news story because I read a similar story posted elsewhere online. Stopping by the WSJ.com, unlike CNN or FoxNews, never became a daily ritual for me.

At the start of every year, I like to resolve to read a number of IT, CMS, and business related books. The Internet is a good resource, but perhaps because I'm too old school I still like to learn a thing or two from a book. So far I have three books on my reading list for 2010.

I plan to review each of these books at a later date but since I'm a slow reader I thought I'd share them now. Links to the books go to Amazon for a possible purchase are our available in CMS Report's Amazon store.

"Innovation initiatives that used to take months and megabucks to coordinate and launch can often be started in seconds for cents."

"This new environment also has big implications for managers. Simply put, bosses must be prepared to give up some control. With testing so cheap, easy and accessible, there's less need to ration it as they have in the past. Managers used to directing the company's innovation efforts must give their workers the freedom to come up with ideas on their own and pursue them without lots of red tape."

"Some of the best experiments come from outside the chain of command."

Not sure if I'm early or late to the party, but I just discovered Mixergy.com. Mixergy is a place where 20ish Andrew Warner wants to help ambitious people who love business as much as he does to learn from a mix of experienced mentors. Somebody on the Internet wanting to help you make money, imagine that.

There has been a lot of articles written lately on Rupert Murdoch's latest comments regarding the need to charge online readers for the content they access to the business model The Wall Street Journal utilizes. Murdoch recently announced that additional News Corp's newspapers would be charging users access to their online content.

Speaking on a conference call as News Corporation announced a 47 percent slide in quarterly profits to $755 million, Murdoch said the current free access business model favored by most content providers was flawed.

"We are now in the midst of an epochal debate over the value of content and it is clear to many newspapers that the current model is malfunctioning," the News Corp. Chairman and CEO said.

"We have been at the forefront of that debate and you can confidently presume that we are leading the way in finding a model that maximizes revenues in return for our shareholders... The current days of the Internet will soon be over."

That pay for content business model that Murdoch wishes to spread to the the rest of the News Corp holdings has worked pretty well for the WSJ. Yearly subscription to WSJ.com is around $100 and the business news site recently introduced a cheaper micro-payment system. Deane Barker recently pointed out this story on his Gadgetopia blog. Barker points out that this business model could possibly work for additional online news sources, but Murdoch needs "another big player on the bandwagon, and he might kick the snowball off the hill. Gannet? New York Times Company?". Barker's point is that for News Corp's subscription model to work, access to news content needs to be limited at other places online too. In my opinion, a fight against free online content is a war that has already been lost.

As a subscriber to the WSJ in both print and online content, I do see paid online subscriptions working for niche news sites. I however have serious doubts that the model can work for general news. People are willing to pay and only pay for content they can get nowhere else online. The news articles found in the WSJ is unique content and since its also content of value, I'm willing to pay for it. However, reporting general news is a much different game. Even if the majority of newspapers started charging access to their content it only takes one newspaper willing to offer that same story for free to break the pay for access model.

Like a lot of people, I too wonder what will happen to the MySQL, Java, and hardware once Sun is integrated into Oracle.  I have opinions but those opinions alone aren't worth a hill of NetBeans.  Luckily, people like Gavin Clarke know what they're talking about.  Clarke has written an excellent article at The Register titled,  Sun and Oracle: end of a beautiful dream.

The Pew Project for Excellence in Journalism does a fantastic job reporting annually on the state of the American news media.  The Pew Project's sixth edition for 2009 is no exception and provides lessons for all businesses on the importance of agility, adaptability, and competitiveness.  The following paragraph from the report's introduction says it all.

Journalism, deluded by its profitability and fearful of technology, let others outside the industry steal chance after chance online. By 2008, the industry had finally begun to get serious. Now the global recession has made that harder.

Today's Wall Street Journal has a great article regarding an employee swap between Procter & Gamble and Google, A New Odd Couple: Google, P&G Swap Workers to Spur Innovation.  The motivation behind the swap was to spur innovation between the two companies.

Google would like to have a bigger slice of P&G's $8.7 billion annual advertisement budget and better understand the needs of traditional consumer-market companies.  Meanwhile P&G still spends most of it's advertisement dollars in traditional media with as little as 2% of its ad budget online does need some help in making the leap online.

There is so much that I want to do here at CMS Report, but my time has been limited these past couple weeks.  Some things that have been going on in my world:

1. As a judge for Packt Publishing's Open Source CMS Awards, I gave the publishing company my vote on the "Most Promising" CMS.  I dedicated a couple weekends to get the job done and I plan to post my reviews after Packt announces the winners (October 28).
2. I made the decision to drop my reseller account for Dakota Hosting.  The number of clients I host are few and over the past two years I've only been breaking even.
3. My post on Dell's Inspiron Mini 12 netbook brought in quite a bit of traffic to the site.  It looks like I may be a couple weeks off in my prediction for when this new netbook will finally hit the market.