Posted June 24, 2009

We knew we were sailing into it, and now it is here. Toy companies are cutting sku count, cutting the number of items they are licensing from the outside, freezing salaries, eliminating bonuses. To paraphrase the lines of a famous song, "The future is so bright, I need a flashlight to see." 

            

We have reason to be concerned, along with most of the other businesses out there. As a friend reminded me recently, I have been through some very tough times in the past both personally and in business. Other toy design firms poach our designers and feel free to use our ideas they take with them, much like the Mattel and MGA’s Bratz case, and we have survived that. 

            

Designers have left our team and taken our ideas to sell them as their own. Bankruptcies of many of our client companies, have left us out millions of dollars in lost royalties earned and future earnings. Failed partnerships. We have survived them all and gotten better as a result. That which doesn’t kill you etc., etc. 

            

On more than one occasion we have taken our lumps and gotten back up only to achieve even higher levels of success. As Rocky says, “It is not how hard you can hit, but how many times you can take a hit and get back up to fight.”

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