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Rick's Rants: Amateur Hour is Over (September 2004)
by Rick Latona, Dollars.com and CJBucks.com
We were all asked what we wanted to be when we grew older. When I was a kid I wanted to be an astronaut. Perhaps it was because I grew up in central Florida and watched the Space Shuttle taking off time and again. Things have certainly changed.
I certainly never intended on getting into the adult industry, and I doubt many of the Klixxx Magazine readers did either. The truth is that only 50,000 or so people would consider this industry at all. Most of the world's inhabitants avoid this business purely on moral grounds, while the rest of the hypocrites purchase our products but don't want anyone to know, because they don't want their neighbors thinking they are immoral. My rough-guess-estimate is that only 30,000 out of 6 billion people on Earth work in the "online adult industry" full-time, with another 100,000 or so part-timers! I have to make my own rough guess because there are no published statistics on these facts. However, I know enough about the size of webmaster e-mail lists that are out there, as well as other confidential data from a variety of sources to feel good about the guess.
Nearly everyone on earth would consider the shoe business, if they were presented with that perfect opportunity to have a great life and make good money. Have you ever asked yourself how you'd do if you had to compete against Wall Street? If no one in the world thought there was anything wrong with the porn industry and would consider an opportunity to work in this business the same way they'd consider a job at Nike if offered, what would it be like? The answer to me is pretty obvious. A lucrative and exciting industry like the one we are in would attract some of the sharpest business minds in the world…if morals weren't an issue.
What I'd like to take a look at in this article are those attributes of great executives. What are the core competencies of a great executive, regardless of the industry they are in? I went through many of the books that have been gathering dust in my garage and assembled the following list of general categories:
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Negotiating Contracts
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Advertising Principles
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Economics
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Office Administration |
Banking |
Advertising Campaigns |
| Marketing |
Corporation Finance |
Commercial Law |
| Sales Management |
Business Organization |
Personnel Management |
| Purchasing and Storing |
Salesmanship |
Investment and Speculation |
| Production Control |
Transportation and Management |
Accounting Principles |
| Financial and Business Statements |
Foreign Trade |
Credit and Collections |
| Factory Management |
Insurance |
Personal Finances |
| Business Correspondence |
Cost Finding |
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While I by no means think one must be an expert in all the fields in my table, a quick glance at the categories will have most readers knowing instantly in which areas they need improvement.
The one thing that seems apparent is that this industry is maturing, and the level of professionalism is increasing. Wall Street is coming, and it won't be long before there are 200,000 people, or even 800,000 people in our industry. I intend to be prepared.
I've often said the instructions for life have been written down; you just have to buy the book. My recommendation is simply to start doing your homework if you aren't doing it already.
I hear people all the time say that amateur hour is over, but I wonder if any of them realize what that means. I've been in the trenches with the big boys of Wall Street. I'm here to tell you that real professionals are some tough sons of bitches. They are educated and they fight hard for their place in the world. To be great at what you do takes an absolute commitment to your profession. I've been reading business books consistently for 15 years now. I laugh when I hear someone talking about "amateur hour" being over when that someone is an amateur himself. Most people in this business don't know a professional when they see one because they haven't had much - or any real - interaction with them.
I apologize if I sound insulting. I take this tone because I'm trying to slap everyone in the face to wake them up to reality. Look at that list of business subjects. Now ask yourself in which of those categories you are an expert, because that is what you need to be if you are here for the long-term-game.
Rick Latona's company started with Consumption Junction and has turned into a powerhouse delivering tens of billions of banner ads and text links monthly through a network of free adult sites. Each of his sites has strong consumer brands that generate bookmarkers and a loyal fan base. Recently we've seen him launch Dollars.com which as a B2B advertising exchange only puts him in charge of even more traffic. Visit www.kblogger.com for more of Rick's tips.
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