Go Read This | Economic perfect storm: The four trends that killed Western growth | City A.M.

As disturbing as it my seem, we live in a world that has more than just publishing and books in it. hence today’s post. A fascinating analysis of where we are in world economics and how we got here (though not always one with which I wholeheartedly agree) can be read at the link below. Perhaps the most interesting idea is around the energy revolution and the coming (if you like) energy crunch, well worth pondering for a while:

The critical equation is the difference between energy extracted and energy consumed in extraction – energy return on energy invested (EROEI). Since the Industrial Revolution, EROEI has been high. Oil discovered in the 1930s provided 100 units of energy for every unit consumed. But EROEI has fallen, as discoveries have become smaller and more costly to extract. The killer factor is the non-linear nature of EROEIs. Once returns ratios fall below 15:1, there is a dramatic “cliff-edge” slump in surplus energy, combined with a sharp escalation in cost. And the global average EROEI may fall to 11:1 by 2020. Energy will be 50 per cent more expensive, in real terms, than today. And this will carry through into the cost of almost everything – including food.

via Economic perfect storm: The four trends that killed Western growth | City A.M..

Are you Pushing the boat out?

Eoin Purcell

That’s what friends are for
One of my good friends is a person I have huge admiration for. I doubt he realises how much, as he spends a good deal of time looking outward and comparing himself to others, rather than taking stock of how much he has actually done in his life.

One of the reasons I admire him is that he has overcome adversities the like of which I cannot even begin to understand. Another is that he regularly refreshes my viewpoint by throwing a curve-ball into a conversation.

Just such an occasion occurred this weekend and jolted me out of a certain reverie. He asked me if I was pushing the boat out. He didn’t mean was I ‘having a cracking party’ or ‘celebrating’, he meant was I working as hard as I could.

He reminded me of the harshest lesson I have ever learned (the details are best left unexplored for now), that complacency destroys achievement. And by reminding me of that he made me ask the questions that help me avoid that lesson being repeated.

The complacent among us
Complacency is one of my major weaknesses (development areas in PC Speak). It is a truly funny weakness. I strive for a goal so hard and so long that when I achieve it I think I am sorted. I take a break and then get back to work thinking that I am working at the same level that got me to where I am but in fact I am taking my foot off the gas a little and becoming lazy. I am not pushing the boat out.

Its remedy
This has bitten me in the ass a few times in the past but now I have a few tester questions that try and jolt my sense of complacency:

⁃ Are you working as hard as you can?
⁃ Are your rivals working harder than you?
⁃ Is someone beating you at something you consider a strength?
⁃ Are you achieving you goals? (Key question)
⁃ Are you heading the right direction?

You want the answers to be Yes, No, No, Yes, Yes. To my mind anything else is trouble.

Why you might ask is this relevant to publishing?
Because it is an industry where smart, energetic and driven people work. There will always be hard workers, smart workers and often brilliant workers at companies that publish into your and other markets.

If you don’t match or exceed their efforts then you will fail. Maybe it won’t be spectacular, maybe it won’t be a hugely noticeable thing at first but five years down the line when your list is anemic and their list is kicking yours, you’ll know all about it.

This is especially true for the Irish market for reasons I’ll talk about tomorrow. So if I am ever fearful that complacency is creeping up on me, I asked myself those tough questions, act on the answers and redouble my efforts.

Enjoying this new found blog enthusiasm
Eoin

PS Check this site out.