Author Topic: Success Lessons from a Marketplace Master (Jon Oringer) (Read 37349 times)

luissantos84 · « **on:** March 20, 2014, 02:38 »

http://www.inc.com/scott-gerber-and-jon-oringer/founders-forum-growth-hacking.html

source: https://www.facebook.com/StockPhotographers

Hobostocker · « **Reply #1 on:** March 20, 2014, 05:38 »

Quote from: luissantos84 on March 20, 2014, 02:38

http://www.inc.com/scott-gerber-and-jon-oringer/founders-forum-growth-hacking.html

source: https://www.facebook.com/StockPhotographers

BLA BLA BLA BLA BLA !

all he did was copying what dozens of similar agencies were doing, with the added bonus of the cheapest subs ever seen in the industry and sticking to the original format instead of doing a mess like iStock.

moral of the story, he's definitely the living proof that ideas are worthless and execution is king.

so, full respect for his managing skills and his accomplishments, but his rants about anything else are ridicolous, you'll hear the same sh-it from pretty much any entrepreneur on earth, they all either filled a niche or scr-ewed their competitors with unfair prices.

luissantos84 · « **Reply #2 on:** March 20, 2014, 07:51 »

have you seen the same videos as I?

I don't think there was a single rant from Jon, only saw him "unsatisfied" with the lack of engineers in NY

I have found the all interview very friendly actually, you are just frustrated you haven't created SS yourself

ruxpriencdiam · « **Reply #3 on:** March 20, 2014, 09:04 »

Quote from: luissantos84 on March 20, 2014, 07:51

saw him "unsatisfied" with the lack of engineers in NY

Because they moved elsewhere.

The travel times and crap to get to and from the city every day and night will wear on you, and to live there!

One room studio apartments that easily run well over $1000 a month not including utilities!

To live in NY can cost you well in excess of $25,000 a year!

cthoman · « **Reply #4 on:** March 20, 2014, 09:29 »

If he wants to innovate and is not worried about competition, he could always pay us more.

Shelma1 · « **Reply #5 on:** March 20, 2014, 10:02 »

Quote from: ruxpriencdiam on March 20, 2014, 09:04

Quote from: luissantos84 on March 20, 2014, 07:51
saw him "unsatisfied" with the lack of engineers in NY
Because they moved elsewhere.

The travel times and crap to get to and from the city every day and night will wear on you, and to live there!

One room studio apartments that easily run well over $1000 a month not including utilities!

To live in NY can cost you well in excess of $25,000 a year!

$1,000 a month? Maybe in NJ. The average apartment in Manhattan rents for close to $4,000/ month.

http://ny.curbed.com/tags/rental-market-reports

ruxpriencdiam · « **Reply #6 on:** March 20, 2014, 11:04 »

Quote from: Shelma1 on March 20, 2014, 10:02

Quote from: ruxpriencdiam on March 20, 2014, 09:04
Quote from: luissantos84 on March 20, 2014, 07:51
saw him "unsatisfied" with the lack of engineers in NY
Because they moved elsewhere.

The travel times and crap to get to and from the city every day and night will wear on you, and to live there!

One room studio apartments that easily run well over $1000 a month not including utilities!

To live in NY can cost you well in excess of $25,000 a year!

$1,000 a month? Maybe in NJ. The average apartment in Manhattan rents for close to $4,000/ month.

http://ny.curbed.com/tags/rental-market-reports

There is a difference did you miss this?

Quote

One room studio apartments that easily run well over $1000

Not a regular apartment!!!!

Shelma1 · « **Reply #7 on:** March 20, 2014, 11:20 »

The average studio is more than $2,000/month. In nice small black type.

http://nypost.com/2013/09/12/rents-take-a-small-dip-in-manhattan/

JPSDK · « **Reply #8 on:** March 20, 2014, 11:25 »

jesus, you guys are so spoiled.
25.000 is just so cheap.

Goofy · « **Reply #9 on:** March 20, 2014, 11:32 »

The good thing about renting a studio- is that you can write the entire rent off as business costs!

cthoman · « **Reply #10 on:** March 20, 2014, 11:32 »

Quote from: JPSDK on March 20, 2014, 11:25

jesus, you guys are so spoiled.
25.000 is just so cheap.

Some of it is relative. They pay you more in some areas, but it cost more to live there so you really don't earn any more.

ruxpriencdiam · « **Reply #11 on:** March 20, 2014, 11:35 »

Quote from: Shelma1 on March 20, 2014, 11:20

The average studio is more than $2,000/month. In nice small black type.

http://nypost.com/2013/09/12/rents-take-a-small-dip-in-manhattan/

Yes $2,071 is well over $1000 a month.

JPSDK · « **Reply #12 on:** March 20, 2014, 11:44 »

Quote from: cthoman on March 20, 2014, 11:32

Quote from: JPSDK on March 20, 2014, 11:25
jesus, you guys are so spoiled.
25.000 is just so cheap.

Some of it is relative. They pay you more in some areas, but it cost more to live there so you really don't earn any more.

Dont get me talking about costs of living.

gbalex · « **Reply #13 on:** March 20, 2014, 11:47 »

Quote from: Shelma1 on March 20, 2014, 10:02

Quote from: ruxpriencdiam on March 20, 2014, 09:04
Quote from: luissantos84 on March 20, 2014, 07:51
saw him "unsatisfied" with the lack of engineers in NY
Because they moved elsewhere.

The travel times and crap to get to and from the city every day and night will wear on you, and to live there!

One room studio apartments that easily run well over $1000 a month not including utilities!

To live in NY can cost you well in excess of $25,000 a year!

$1,000 a month? Maybe in NJ. The average apartment in Manhattan rents for close to $4,000/ month.

http://ny.curbed.com/tags/rental-market-reports

The video segment on Location says it all. Shutterstock could easily operate anywhere in the US and they chose to locate their main offices and employees in the most expensive real estate in the US.

The living expenses for the employees are prohibitive and employee quality of life drops across the board because of those increased living expenses. These high cost's also decrease employee retention and increase training expenses for new employees to replace those who leave the city.

To put it into perspective, we are talking about 300 employees using an office location that required 10 plus million dollars in tenant improvements this year with an additional 3 million a year of reoccurring annual rents to house a measly 300 employees over the last year alone. Those high location numbers do not include increased health care expenses etc.

Jon had many other options that would have put the company in a much better competitive position in regard to expenses and employee acquisition.

http://www.microstockgroup.com/general-stock-discussion/getty-images-makes-35-million-images-free-in-fight-against-copyright-infringemen/msg369602/#msg369602

luissantos84 · « **Reply #14 on:** March 20, 2014, 11:54 »

1 - its not your company and Jon haven't consulted you
2 - Jon haven't talked about how expensive is to live or hire people in NY, you have...

again why don't you open your agency and run it as you say, we would be delighted to contribute to it

Shelma1 · « **Reply #15 on:** March 20, 2014, 12:10 »

Oringer is from New York. Why would he move himself or his company elsewhere?

His largest clients are also probably based in New York. Why would he move away from them?

I'll be working a block from their offices next week. It would be a hoot to pop in and look around.

gbalex · « **Reply #16 on:** March 20, 2014, 12:28 »

Quote from: luissantos84 on March 20, 2014, 11:54

1 - its not your company and Jon haven't consulted you
2 - Jon haven't talked about how expensive is to live or hire people in NY, you have...

again why don't you open your agency and run it as you say, we would be delighted to contribute to it

I can remember as a kid tying to convince my father to move the main office to one of our satellite locations by the sea. He responded with anger and called me selfish. He asked me to think about how the move would affect different families I knew who worked for the company. He asked me where they would live with the incomes they made. Wise business owners set up their companies to succeed long term in very competitive environments. And they make those decisions with everyone who works for the company in mind. They locate in areas that will give the company competitive advantages without being prohibitively expensive. And they make sure those locals also offer the employees who work for them good quality of life.

At this stage in the game, why would anyone want to open a business where you had to take the bread off the table of your suppliers to remain competitive. My father can go to sleep at night because for many years he has made choices based on what is best for the company as a whole. Jon not so much, thou it has worked out nicely for him.

luissantos84 · « **Reply #17 on:** March 20, 2014, 12:36 »

Quote from: gbalex on March 20, 2014, 12:28

At this stage in the game, why would anyone want to open a business where you had to take the bread off the table of your suppliers to remain competitive.

so you are afraid of paying us badly, oh right

anyway, does that mean that Stocksy and Symbio are going to fail?

Ron · « **Reply #18 on:** March 20, 2014, 12:39 »

You know Gbalex, you say a lot of stuff that makes sense. And I think you have me convinced that we could and should earn more than what we currently earn at Shutterstock. Your endless posting of the same quotes over and over probably worked.

What I dont get is that you are know moaning over their location. After all is said and done you come across as a bitter and jealous person. You are probably not that, so maybe you want to stop moaning over where they set up office.

Someone else mentioned in another thread when you brought it up that they could possibly move to a cheap office somewhere in the middle of nowhere, but they need to hire close to 300 staff, with certain skills. You dont find that everywhere. Thats why companies set up office in certain places.

cthoman · « **Reply #19 on:** March 20, 2014, 12:47 »

Quote from: Ron on March 20, 2014, 12:39

You know Gbalex, you say a lot of stuff that makes sense. And I think you have me convinced that we could and should earn more than what we currently earn at Shutterstock. Your endless posting of the same quotes over and over probably worked.

What I dont get is that you are know moaning over their location. After all is said and done you come across as a bitter and jealous person. You are probably not that, so maybe you want to stop moaning over where they set up office.

Someone else mentioned in another thread when you brought it up that they could possibly move to a cheap office somewhere in the middle of nowhere, but they need to hire close to 300 staff, with certain skills. You dont find that everywhere. Thats why companies set up office in certain places.

You don't sound convinced.

Ron · « **Reply #20 on:** March 20, 2014, 13:16 »

LOL. But really, he has a point. I think the 30% being the sweetspot is just meaningless business talk. I am sure if they paid 40% they would still do well. A little bit less profit isnt going to hurt anyone.

mike ledray · « **Reply #21 on:** March 20, 2014, 13:24 »

Shutterstock Rocks!
I love it
They are the Greatest site on earth!
Jon has single handedly created an amazing opportunity for Anyone with the wherewithal make and sell photos and get into the stock photo industry easily.
I for one Appreciate All that Jon has done!

Thank You Jon
You Rock!

cthoman · « **Reply #22 on:** March 20, 2014, 13:38 »

Quote from: Ron on March 20, 2014, 13:16

LOL. But really, he has a point. I think the 30% being the sweetspot is just meaningless business talk. I am sure if they paid 40% they would still do well. A little bit less profit isnt going to hurt anyone.

I was actually going to make a big long point about that 30% quote yesterday when tickstock posted it. Basically, it's their sweet spot not ours. They use the extra money to out compete the stock agencies which are their competitors not ours. Also, it is hard to say it is a sweet spot when they haven't tried higher royalties. They have tried higher price points and are having success with that (for both us and them). I like that they make me money, but don't pretend to be doing me any favors. It's about them and making money for themselves.

gbalex · « **Reply #23 on:** March 20, 2014, 13:46 »

Quote from: luissantos84 on March 20, 2014, 12:36

Quote from: gbalex on March 20, 2014, 12:28
At this stage in the game, why would anyone want to open a business where you had to take the bread off the table of your suppliers to remain competitive.

so you are afraid of paying us badly, oh right

anyway, does that mean that Stocksy and Symbio are going to fail?

Stocksy, DT, etc. are very low overhead. That gives them an competitive advantage and more room for suppliers to earn a fair income. That said I do not envy those companies they have a very rough road ahead of them because Shutterstock has chosen to undercut buyer pricing while paying suppliers less every year to gain market share. As you know they have no problem admitting this to the world.

If Stocksy can overcome those odds, while paying suppliers a fair percentage they will have my admiration.

gbalex · « **Reply #24 on:** March 20, 2014, 14:02 »

Quote from: Ron on March 20, 2014, 12:39

You know Gbalex, you say a lot of stuff that makes sense. And I think you have me convinced that we could and should earn more than what we currently earn at Shutterstock. Your endless posting of the same quotes over and over probably worked.

What I dont get is that you are know moaning over their location. After all is said and done you come across as a bitter and jealous person. You are probably not that, so maybe you want to stop moaning over where they set up office.

Someone else mentioned in another thread when you brought it up that they could possibly move to a cheap office somewhere in the middle of nowhere, but they need to hire close to 300 staff, with certain skills. You dont find that everywhere. Thats why companies set up office in certain places.

Business is business, there is no room for jealousy. Why would I be jealous of a company I believe is making poor business decisions which put it at a competitive disadvantage long term?

I do expect the companies I work with to make sound business decisions and when they do not we ALL have the right to let the world know what we think of those choices. We can also choose to put a larger portion of our images elsewhere.

I posted this link earlier in the thread, from the comments you made I will assume you skipped it. It details plenty of areas in the US that have greater numbers of tech and advertising employees available for hire. And those areas also have lower cost of office space and living expenses. In fact SS could have bought superior office space for less money, than they chose to spend on tenant improvements this year alone. Now instead of owning outright they will have to pay 3 million in office rent every year; while their competitors can spend those funds on advertizing etc.

http://www.microstockgroup.com/general-stock-discussion/getty-images-makes-35-million-images-free-in-fight-against-copyright-infringemen/msg369602/#msg369602

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Author Topic: Success Lessons from a Marketplace Master (Jon Oringer) (Read 37349 times)

luissantos84

Hobostocker

luissantos84

ruxpriencdiam

cthoman

Shelma1

ruxpriencdiam

Shelma1

JPSDK

Goofy

cthoman

ruxpriencdiam

JPSDK

gbalex

luissantos84

Shelma1

gbalex

luissantos84

Ron

cthoman

Ron

mike ledray

cthoman

gbalex

gbalex

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