Foreign and Domestic Capital Investment: A Matter of Opportunity Versus Choice
This paper addresses an important omission in the venture capital literature by comparing the monitoring behavior of foreign and domestic venture capital firms (VCs). Evidence from 31 VCs in India (84% response) shows foreign VCs were significantly more likely than domestic VCs to be involved at the strategic level while domestic VCs were significantly more active at the operational level. Foreign VCs placed significantly more emphasis on restrictions on additional borrowings. Domestic VCs placed significantly more emphasis on specifying certain accounting policies while foreign VCs placed significantly more emphasis on monthly management accounts. Domestic VCs place significantly more emphasis on industry specialist board membership.
The above is the abstract for a paper titled “Do Foreign and Domestic Venture Capital Firms Differ in Their Monitoring of Investees?” which originally appeared in the November 2nd, 2004 Asia Pacific Journal of Management.
While the subject matter in and of itself is quite fascinating, I might not have given it more attention beyond the initial interest had I not just recently written a post regarding the challenges US-based Venture Capitalists are facing in terms of making investments in Canadian high tech companies. The obstacles as reported, are due to what has been referred to as onerous cross-border laws, and in particular Section 116 clearance certificates.
Because of the “timing,” it seemed that a closer look into the world of Foreign and Domestic capital investment warranted consideration.
Add into the equation my recent interview with one of the US’ leading high tech entrepreneurs and investment experts Brad Feld, regarding the need for Founders Visas for foreign graduates of US institutions, and the rest of the pieces as they say fell into place.
Joining me on November 14th at 4:00 PM EST to talk about the differences between Foreign and Domestic Capital Firms, including the challenges and benefits each faces and the value they deliver is Brad Feld.
Visit the PI Window on Business Main Show Page on Blog Talk Radio for further details, or the PI Window on Business Blog. In the meantime, use the following On-Demand Player to tune into the live broadcast of my November 20th interview with Brad Feld.
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Book Lovers Cafe: “Your Show Will Go Live in 5 Seconds (Confessions of a Blog Talk Radio Host)”
I very much enjoyed the opportunity to appear as a guest on Denise Dyer’s Hold the Vision Radio Show this morning, to talk about my book Your Show Will Go Live in 5 Seconds (Confessions of a Blog Talk Radio Host). I know that you will enjoy it as well.
Hard Copy Version Now Available
Beginning on CTV in 1967 and running for 10 years, The Pig & Whistle was Canadian commercial television’s first homegrown hit. Along with programs like Don Messer’s Jubilee, Juliette and Stars on Ice, it was popular, family friendly variety, a genre that dominated the early days of Canadian entertainment television.
Filmed on a set built to resemble a traditional English Pub, the series featured a variety of traditional Canadian, British and Irish music-hall style entertainment, including singing barmaid Kay Turner, leather-lunged host John Hewer and a studio audience bussed each week to a cavernous studio on the fringe of Toronto. The show delighted viewers with its unabashed Britishness, which set it apart from U.S. television programs.
from the Audio-Visual Preservation Trust of Canada
What made the Pig and Whistle special was the fact that its comfy setting of a neighborhood pub, where good friends could meet to share a laugh and a pint, was also a showcase for emerging Canadian talent such as the Irish Rovers, The Peaches and of course the Carlton Showband.
Needless to say when I was approached to host a Pig and Whistle Tribute Series, with the objective of providing Canadian-based talent of a similar, yet modern genre with a venue that had long since vanished with the advent of Satellite TV and the emerging world of social media, I thought why not!
So on November 28th I had the pleasure of attending a Pig and Whistle type pub to hear the musical sentiments of John Wright. Wright, whose story and journey while being similar to many who leave their hearts exposed on the stage of previously unknown yet welcoming venues across the country, is nonetheless unique. Especially when he relates the story of using the guitar strap from a friend and fellow musician who once shared the stage with him but has since passed away.
John Wright, Songs of Life
Join me at 8:00 PM EST on December 8th for a rare evening broadcast as I welcome John Wright to our show to share both memories and music.
Use the On-Demand Player below to access the live broadcast.
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When bestselling author Roz Usheroff contacted me regarding the unauthorized use of her name as a reference in which there were no corresponding links to her site or work, she asked if “people can just use your name to get others to their site?”
In my response, I indicated that besides name dropping, people have also used a writer’s articles and posts under an aggregation model in which some sell access to your written work for another publication. I discovered this a couple years back when I did a search and came across articles I had written for a magazine that ended up on a pay to access site.
In the case of the poaching of articles, my lawyers informed me that while I could go after them the costs in time and money to pursue it must be carefully weighed.
I then suggested to Roz that the best thing to do is regular searches of her name on the web.
This way I reasoned she could at least stay on top of how her name was being used in the virtual world of social media, and take action on the most egregious utilization of her brand including corresponding works.
Just as a side note I concluded, corporations actually pay good money for software that scans the Internet daily in an effort to be proactive relative to any negative or unfair comments. So the practice of vigilance would seem warranted.
Based on the above response, Roz suggested that I should write an article regarding this question as she thought that my experience and creative use of prose would perhaps generate awareness for the unauthorized use of one’s brand without the reciprocal cross reference.
This exchange took place in mid-October.
Just recently, the issue surfaced again, but this time involving Gary Larson of The Far Side cartoon fame involving a letter he had sent to the owner of a web site titled “Gary Larson Cartoon of the Week.” I think that you will find it interesting, especially as it relates to Roz’s question:
Gary Larson is the creator of The Far Side Cartoons. The comics include all kinds of animals, such as dogs (i.e. what dogs hear), cats, cows, sheep and worms. Some time ago, the Far Side Cartoon Master himself, Gary Larson, sent me this letter by email:
TO WHOM IT MAY CONCERN:
I’m walking a fine line here.
On the one hand, I confess to finding it quite flattering that some of my fans have created web sites displaying and / or distributing my work on the Internet. And, on the other, I’m struggling to find the words that convincingly but sensitively persuade these Far Side enthusiasts to “cease and desist” before they have to read these words from some lawyer.
What impact this unauthorized use has had (and is having) in tangible terms is, naturally, of great concern to my publishers and therefore to me — but it’s not the focus of this letter. My effort here is to try and speak to the intangible impact, the emotional cost to me, personally, of seeing my work collected, digitized, and offered up in cyberspace beyond my control.
Years ago I was having lunch one day with the cartoonist Richard Guindon, and the subject came up how neither one of us ever solicited or accepted ideas from others. But, until Richard summed it up quite neatly, I never really understood my own aversions to doing this: ”It’s like having someone else write in your diary, he said. And how true that statement rang with me . In effect, we drew cartoons that we hoped would be entertaining or, at the very least, not boring; but regardless, they would always come from an intensely personal, and therefore original perspective.
To attempt to be “funny” is a very scary, risk-laden proposition. (Ask any stand-up comic who has ever “bombed” on stage.) But if there was ever an axiom to follow in this business, it would be this: be honest to yourself and — most important — respect your audience.
So, in a nutshell (probably an unfortunate choice of words for me), I only ask that this respect be returned, and the way for anyone to do that is to please, please refrain from putting The Far Side out on the Internet. These cartoons are my “children,” of sorts, and like a parent, I’m concerned about where they go at night without telling me. And, seeing them at someone’s web site is like getting the call at 2:00 a.m. that goes, “Uh, Dad, you’re not going to like this much, but guess where I am.”
I hope my explanation helps you to understand the importance this has for me, personally, and why I’m making this request.
Please send my “kids” home. I’ll be eternally grateful.
Most respectfully,
Gary Larson
In order to avoid a legal dispute, I followed the cease and desist. Therefore, these Gary Larson comics are now off-line. I respect the copyright of Gary Larson and respect his wishes to put these Far Side pictures off-line. Nevertheless, I hope that there still are a few places left in the Internet where you can get in touch with this excellent kind of humour. Thanks to all the people who take the time to write me. And have fun with the Farside cartoons of Gary Larson.
Despite Roz’s assertion that my written eloquence would serve to advance the issues and concerns writers have with the unauthorized use of their work, I could not help but feel that Larsen’s letter created the needed point of context that best illustrated the thought process behind brand infringement.
What are your thoughts?
The CATA Press Release RE Their 116 Campaign: A Just Cause Lost in a Sea of Self-Serving Rhetoric
Canada’s venture capital industry is in trouble. That industry is seriously underfunded, while Canada’s emerging technology and life sciences companies are so capital-starved they risk being uncompetitive in the North American market. At the same time, much needed and sought after US capital that could richly fund that industry and those companies is being blocked by Canada’s cross-border tax laws.
In just how much trouble is Canada’s venture world? Given the size of Canada’s GDP and population relative to those of the US, Canadian venture capital firms and Canadian venture backed companies should be receiving approximately 10% of the total funds invested in those entities in the U.S. In fact, in 2008 Canada’s venture capital firms received only approximately 4% of all funds invested in US venture capital firms, and Canada’s venture-backed companies received only approximately 4.5% of all funds invested in US venture-backed companies. These are devastating shortfalls.
from the April 16th, 2009 article by Stephen A. Hurwitz titled “Reforming Section 116: Key to Opening Canadian Borders to Foreign Venture Capital”
In terms of the above referenced article, it is clear that government policy can inadvertently undermine the economic interests of the country it is meant to serve. A sentiment that was echoed in a recent Canadian Advanced Technology Alliance “CATA” press release which lamented the fact that “We are imperiling our Innovation future and risk squandering investments in R&D and intellectual capital, all because of a failure to put a simple amendment in place, an amendment consistent with the practices of our trading partners.”
Unfortunately the problem with the CATA press release is that while the cause it is advocating may be just, such statements rarely extend beyond the limiting confines of perceived self-interest and therefore fail to gain the much needed global perspective that creates the points of context which are necessary to achieve meaningful traction beyond its own membership. In short, the CATA press release represents a form of myopia that divides and weakens stakeholder interests versus engaging and challenging key policy-makers to take the desired action.
At the end of September I wrote a series of articles related to the Buy American policy’s impact on the Canadian economy leading up to the September 30th PI Window on Business special in which I had the opportunity to interview Canada’s Trade Minister Stockwell Day.
In a number of the articles, I referenced the Clark and Fourastie “three-sector hypothesis of industry” (which is now four with the advent of high tech and R&D industries) as it relates to the development of a wealthy nation’s economy. In one article, I even provided statistics which showed that the economies of the UK and India are potentially positioning these countries as future global economic titans.
Initially developed by Colin Clark and Jean Fourastie, this general pattern of economic development identifies four sectors through which a wealthy nation must progress to maintain its economic position starting with the extraction of raw materials (Primary), manufacturing (Secondary), services (Tertiary) and later knowledge-based (Quaternary). Effectively managing a nation’s progression through each sector is critical to what Fourastie referenced in his 1949 publication “The Great Hope of the Twentieth Century” as “the increase in quality of life, social security, blossoming of education and culture, higher level of qualifications, humanization of work, and avoidance of unemployment.”
While similarities with the tertiary sector are often made as they are either service-based or oriented, knowledge-based (re high tech) industries are incredibly important.
Let’s look at the United Kingdom for example. The Tertiary and Quaternary sectors represents the largest part of their economy, employing 76% of their entire workforce.
With India, the indigenous software engineering talent has made that country the off shoring destination of American high-tech firms, each of which have committed to investing $1 billion into its economy. The result of this boom is that India has seen double-digit wage growth for much of the 2000s. (Note: some may argue that a key part of this growth is due to the fact that wages were previously low and that for all intents and purposes had nowhere to go but up. This of course is an interesting discussion for another day.)
While there are of course other factors and obstacles in terms of the materialization of a “titan” reality, such as the UKs bloated and largely ineffective health care system – which is also the largest government funded health care system in the world, it nonetheless bodes well for that nation’s future economy. In short, both the UK and India are pointed in the right direction.
The questions to which this leads are many including how did the UK and India progress to the Tertiary and Quaternary sectors, while the economies of Canada and the United States have to a certain degree remained dependent on the Primary and Secondary sectors?
Even though there are no easy answers, at the very least the four-sector hypothesis of industry provides us with the basis for asking the right questions as it creates the necessary points of reference or context to which I had previously referred. Specifically, these are the global reference points upon which associations such as CATA should start to focus, as it moves the discussion from the realms of perceived self-interest to one that encompasses the interests of the majority of Canadians, which is the economy as a whole.
Another track that may be worthwhile pursuing deals with a January 29th, 2009 CBC News story that I covered in my September 13th, 2009 post “Is Canada really rich in natural resources?: Calculating the effects of Foreign Ownership.” Below is both an excerpt from the original CBC story, as well as my commentary:
In Toronto, CBC business reporter Jeannie Lee said there is a great deal at stake for Canada — and especially for southern Ontario, where Canada’s steel industry is concentrated and where the global slump has already gutted the auto industry.
Canadian steel plants produced almost 16 million tonnes of steel in 2007, employing about 32,000 people and, by one estimate, supporting 140,000 indirect jobs, she said.
from “Buy American” rule in U.S. stimulus bill could cost Canada jobs, CBC News (January 29th, 2009)
Expanding on the closing theme from last week’s post “Buy American: Establishing Artificial Boundaries or Removing Unwanted Barriers?,” in which I introduced Colin Clark and Jean Fourastie’s “three-sector hypothesis of industry,” the January 29th CBC News article is interesting for a number of reasons.
While there is no doubt that the steel industry is of course part of our indigenous Primary Sector which cultivates our nation’s abundance of natural resources, I must admit that I had not contemplated the impact that foreign ownership of these companies had on the overall issue of free trade and the Buy American Policy.
Perhaps this is an overly simplistic view, but if we do not own the companies who employ our workforce in this Primary Sector, is it not similar to renting versus owning your home?
For example, if I am renting I would of course take care of the daily living maintenance required as part of the general upkeep of the home. However, and for obvious reasons, I would not be inclined to invest a great deal in making home improvements such as adding a deck or installing new plumbing.
The point I am making is simply this, who owns what were once our companies, what are their interests and, at what point will those interests conflict with those of our national interests?
I am asking these questions for a number of reasons including the fact that I would like to know the answers. I am also interested in understanding if we have somehow mistakenly equated having indigenous resources as being the same thing as controlling them. If memory serves me correctly it wasn’t that long ago that we took legal action against a US conglomerate who arbitrarily decided to pull up their Canadian stakes. (Note: reference the July 18th, 2009 article in TheRecord.com titled “Ottawa sues former Stelco Group.”)
I have referenced the above article relative to today’s post, as it appears that the Government supports foreign ownership of Canadian firms while seemingly making it more difficult for foreign investors to put money into Canadian-based high tech companies, (investments which would facilitate our economy’s progress through to the desired Tertiary and Quaternary sectors)? This observation is particularly significant as there is a trend in which the Canadian jobs that were going to be saved through a foreign acquisition, are ultimately lost when the foreign parent decides that it is no longer economically viable to maintain a Canadian presence.
Conversely, and according to my November 20th interview with Brad Feld titled “Diminishing Prospects: How U.S. Policy is Undermining Entrepreneurial Vision,” the entrepreneurial whiz and recognized investment thought leader believes that “the US should grant permanent residency to anyone who graduates from a qualified four year university with a computer science degree.” The basis for his position is that “These are young, talented entrepreneurs that have come out of a three month program with amazingly interesting start-ups,” that if successful will create “US based high tech jobs.” While Feld contends that the US needs to establish a Founders Visa program to fill in the gap between the H-1B and EB-5 visas as a means of stemming the brain drain flowing out of the U.S., what is relevant to this discussion is his reference to the fact that high tech firms will create jobs. To draw the parallel with the Canadian “116 clearance certification” situation, is the fact that while high tech firms will create jobs, government policy supporting foreign ownership equals job loss. Job creation versus job loss is a simple concept that everyone can and will understand.
Once again, the CATA press release provides little evidence or contextual references to support its statements which makes it more of a rhetorical dissertation than a factual assessment based on merit and research. In this regard, it is a siloed approach that does little to advance a cause that is worthy of advancement.
It is hard to believe that the December 3rd segment titled “Motivating Ideals: How to Engage and Ignite Your Company’s Workforce” will be our 75th show. What is the old saying about time flying by when you are having fun.
The PI Window on Business
Over the first 75 segments there have been so many great moments such as my interview with Canada’s Trade Minister Stockwell Day regarding the Buy American Policy’s impact on the Canadian economy, or my recent interview with Brad Feld regarding the difficulty foreign graduates from top U.S. schools are encountering when they attempt to start promising ventures in the States.
The Right Honourable Stockwell Day
I have also had the opportunity to interview bestselling authors from around the world, so many in fact that rather than attempting to single anyone out individually – yes they have all been great interviews, I will direct you to the Author Profile Section in the PI Window on Business Blog to check each one out at your own leisure.
Of course I have also enjoyed segments such as the series on “The Future of Journalism” in which I spoke with the CEO and Founder of Blog Talk Radio Alan Levy. The fast-paced entertaining segment with the incomparable “Marketing Doctor” John Tantillo who is a regular on Fox News’ Strategy Room was both fun and informative, as was the guest panel segment featuring UK Social Media expert David Cushman and The Young Turks TV founder Jenk Uygur. Talk about the power of social media, Jenk’s show receives more than 13 million hits per month on YouTube.
All-in-all it has been a memorable 75 shows, which is why I am so much looking forward to breaking the century mark early next year and beyond.
In keeping with the spirit of this exciting milestone, I am pleased to announce that we will be launching a 75th Anniversary Show Special Offer.
The first 10 people who sign into the Chat Room as a registered Blog Talk Radio listener/user* during the live December 3rd, 4th, 8th and 9th broadcasts between 12:30 and 1:30 PM EST will receive a complimentary pass to one of three dates for the January 2010 Launch of the “Go Live in 5″ Webinar which provides participants with information on using Internet Radio to establish their personal brand and generate revenue.
The first 20 who sign-in* to the live Chat Room will also have their name entered into a draw to receive an eBook copy of my new book “Your Show Will Go Live in 5 Seconds (Confessions of a Blog Talk Radio Host),” a complimentary consultation on personal branding and, a 1 Year Silver Sponsorship level acknowledgment for their company on the PI Window on Business Show Blog. Estimated prize Value is $450 US.
The Chat Room Draw Winner Receives Free eBook Version
With the PI Social Media Network’s combined syndicated monthly reach in excess of 1 million people worldwide and expanding rapidly, 2010 promises to be even more exciting with the launch of our two new Internet TV Channels – The PI Inquisitive Eye and the TV2 Young Entrepreneurs Network in December.
Including the addition of two corresponding blogs, the Networks Family of media venues will grow to 4 Blogs, 1 Radio Show and 2 TV Channels. Needless to say, we have a great deal for which to be thankful as we look forward to serving you our readership, listener base and soon TV viewers through informative, thought-provoking and entertaining social media productions.
Thank you for tuning in!
*Note: To sign-in to the Chat Room you must register as a listener on the Blog Talk Radio web site. Registration is free!
Motivating Ideals: How to Engage and Ignite Your Company’s Workforce
Taking another page out of Jim Collins’ book Good to Great, where he highlights a number of corporate myths, his research found (and I quote); “Companies that make the change from good to great have no name for their transformation – and absolutely no program. They neither rant nor rave about a crisis – and they don’t manufacture one where none exists. They don’t motivate people – their people are self-motivated. There’s no evidence of a connection between money and change mastery. And fear doesn’t drive change – but it does perpetuate mediocrity.”
While Collins’ book has been a veritable wellspring of knowledge and insight, the reference to the findings that companies and managers “don’t motivate people – their people are self-motivated,” stands out like the proverbial lighthouse on a foggy night.
This is one of the reasons why Rick Dacri’s book “Uncomplicating Management: Focus on Your Stars & Your Company Will Soar” was so interesting to me. Especially as it relates to employee motivation within a business entity.
The critical link between a company’s fortunes and the level of enthusiasm employees demonstrate through uncompromising effort and unquestionable pride in a job well done, seems to be absent in today’s mercenary employment climate.
So how does Collins’ reference companies, and Dacri’s put all your money on the smart kids edict mesh with the increasingly cynical world within which today’s businesses operate?
In the next 60 minutes we will attempt to answer this question, as well as other pressing questions regarding the ever-changing dynamics of managing employees to stardom and corporate success.
To assist me in this journey of discovery of course is author, speaker and consultant Rick Dacri.
Rick Dacri
Rick Dacri is one of those rare individuals who can take difficult employee issues, sort through their complexities, and find solutions for employers that make sense. Dacri is the author of the book Uncomplicating Management. Dacri brings more than 25 years of experience in senior management, organizational development, and human resources, all in one package. He has consulted to a wide variety of industries, large and small, always brings to the table a practical approach, sound advice, and a sense of humor.
Dacri’s consulting firm, Dacri & Associates, LLC helps organizations improve individual and organizational performance. Rick connects with people in a positive and challenging way to offer practical solutions.
Dacri is also a recognized national speaker and has authored over 100 articles for a number of business publications. He has been an adjunct professor at Clark University, Assumption College and Fitchburg State College, where he has taught courses in management, human resource management and organizational behavior. He has served as President of the Human Resource Association of Southern Maine, as the Massachusetts State Director for the Society of Human Resource Management as well as the President of the Human Resource Association of Central Massachusetts.
Rick’s Book:
Managers take note. Your job doesn’t have to be so complicated or so arduous. Use Dacri’s formula for uncomplicating the task of managing. “Rick Dacri knows how to break down the complexities of managing people. This motivating book offers straightforward advise that any manager in any sized organization can use on a daily basis.” -Nathan Poore, Town Manager, Falmouth, Maine “This book packs a powerful punch in areas that managers and entrepreneurs absolutely MUST be savvy in. Leave theory behind! Uncomplicating Management is full of insightful advice from a hands-on management approach. The bottom line is that it works!” – Maureen Regan, President, Seaside Vacation Rentals “…brilliance and simplicity…I love the ‘differentiate between the bright light and dim glow’ reference.’ I’ve never seen it/heard it before but it made me smile. This is such an important topic and seems to have been seriously overlooked in our management practices. You have captured it beautifully in describing how much effort and how many resources we put into the creation of systems to trap and punish the poor performers while the stars go under-appreciated. Makes me sit up and take notice.” – Kathy Hessel, Vice President, Human Resources, Carroll Enterprises.
Remember to use the On-Demand Player below to access the live broadcast on December 3rd between 12:30 and 1:30 PM EST.
For those of you who found my October 15th “The Power of the Blog” post interesting, I thought that I would share with you the details for a high profile competition known as Blog-off #2 which features amongst many benefits a $45,000 total prize package for the winners.
If you are a blogger and have a compelling, entertaining, insightful perspective that you have been sharing with your readership, then this is an ideal venue for you to shine.
Here is the link to The Community Marketing Blog’s contest registration details for the Blog-off #2 competition.
I wish you great success, and of course are happy to provide you with any assistance in terms of your participation.
Click Here to Learn More!
In the meantime, here is the reprint of the October 15th post in its entirety which will hopefully inspire you to participate in this great contest.
The Power of the Blog (Original Post Date: October 15th, 2009)
My entry into social media was through the creation of the Procurement Insights Blog in May 2007.
As of today it reaches more than 300,000 syndicated subscribers each month worldwide, and with more than 40 sponsors and growing it is the number one sponsored blog in its sector.
Of course, none of this was planned as the reasons for creating the blog in the first place was to consolidate my various deadlines for the increasing number of publications for which I wrote either a column or articles on a regular basis. In short, I was able to create a single location from which the magazines could access the articles for distribution through their publication.
Since then, and in relation to Blog Talk Radio, I have come to realize that blogs represent a vehicle through which you can maintain contact with your listening audience even when you are not on the air. The benefits of course are many including the establishment of a collaborative network that is always serving and sharing with what David Cushman referred to as “Communities of Purpose.”
The PI Window on Business Blog is just beginning to ramp-up its sponsorship program and has already secured 9 sponsors and 2 segment sponsors. It also serves as an important part of the collective network’s reach, strengthening the other venues (or brand franchises).
In December we will be launching the PI Inquisitive Eye and TV2 Young Entrepreneurs TV Channels. Each of these new venues will have a corresponding blog, and each blog, TV Channel and Blog Talk Radio site will have associated links to maximize what I refer to as cross pollination of audience interest.
While there are a reasonable percentage of stories that can be quickly and easily posted through my ping.fm account (which also simultaneously posts to my social networks such as Facebook, Ecademy, LinkedIn and even Twitter), there is still a certain degree of discipline to maintaining the sites in terms of providing new and viable content.
Like a plant that needs to be watered every couple of days, to have a viable blog you need to post at least 2 or 3 new articles each week (more if you can). This way when a visitor comes on Tuesday and likes what he or she read, they will likely return within the next day or two to see what new tidbits of entertaining insight you have to offer.
Unfortunately, if there hasn’t been any changes then it is the equivalent of going to an empty fridge when your hungry . . . there’s no point going back a second time because there isn’t any food. So very quickly they will go elsewhere because there is a lot to choose from in the vast social media sea.
Also keep in mind that on average it takes up to six months or more to hit the first plateau of steady or regular followers.
However, and having the advantage of looking back over the last 2 1/2 years I can tell you with little hesitation that it is well worth the investment of your time, energy and care.
What I am now finding is that the time it took me to build my following with the first blog, the second blog is on track to accomplishing within its first six months.
So like a good exercise routine, blog at least 2,3 or even 4 times per week.
(Personal Note: If I can help anyone with getting their blog going let me know as I am happy to contribute to your success in any way that I can.)
