Our posting about how businesses balance the magic trinity: costs (cheap) schedules (fast) and features (or accuracy) inspired some interesting discussions...both in our office and online. As we listen (and participate), we find ourselves wondering, are there really any free lunches out there?
We all want to receive as much value as possible from every hard earned dollar we possess...and that is on a normal day. In the midst of economic challenges, our need to stretch every dollar grows exponentially. We are all cutting costs...from large corporations to small businesses to individual consumers...and the allure of a four-letter word glows: FREE!
Can something really be free?
The print media world is a great example. In that last six months, we've seen numerous magazines and newspapers fold. The San Francisco Chronicle (our main local newspaper) is uncertain whether they will stay in business. Readers are moving from the printed page to free online sources. As the readership shrinks, ad revenues shrink too. Meanwhile, in this tight economy, advertisers are cutting their budgets. The traditional newspaper business model is no longer viable. Free lunches starve their budgets.
Some news providers will successfully carve out new delivery models online. There will be fewer news sources because not all content providers will survive the transition the new model. Meanwhile, in general, consumers are demanding more content and more choices, not less, for free.
Who will fill that gap? In our increasing demand for free are we also willing to lower our standards to an amateur level? Or are we happy to accept thinly veiled infomercials as manufacturers strive to replace their traditional advertising channels? On this trajectory, is all content eventually reduced to the quality of a poor cable reality TV show? As consumers, is that a free lunch we really want to eat?
I want more. I am renewing my subscription to the San Francisco Sunday Chronicle today. I get a lot of my news online these days...but I love the weekend ritual of reading the Sunday paper. It is something I've enjoyed for decades...from pouring over the colorful comics as a child to working my way through the crossword puzzles today, I would hate to start a Sunday without the paper awaiting me at the front door. If the Chronicle folds, then on Sundays I will be less informed. My Sunday news rituals are based on relaxing away from work (and the computer).
In the end, some cliches continue to ring true...you get what you pay for. Mom was right: There is no such thing as a free lunch.
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