Tony Fish on how to suffer early and ride a bad economy to profit

Tony Fish, the co founder of AMF Ventures, had some advice for the Pacific Northwest Wireless Conference regardin gthe new and sometimes frightening world of a changed economy, and how the wireless industry can survive within it.

For one, he said, follow the money. The money knows where it wants to go, he said, and following the media means you’ll be following the crowd. He also said to strip a company to its very core, to concentrate on the best quality products you can and at this moment only, to concentrate on marketing, because a down economy is the one time a company can rise above the noise. Get your suffering in early, and you’ll be done with it quicker.

Fish also said that the wireless industry had gotten its business plan fundamentally wrong in assuming that the phone was a one-way, provider to consumer to device. In fact, consumers want to put pictures on blogs, post their thoughts to Twitter, and get data OFF the device. In fact, showing a user’s location, his habits and other personal data is where wireless should concentrate, in order to change and enhance their TV, web and other media, and in effect use wireless to improve their lives and customize their interactions the way they want them. And don’t discount segmentation. Different users will want different devices, so work with them and not against them, Fish said.