A better question might be, “What’s NOT up with stock photography?”  Answer? Royalties, number of paid productions, royalty free and rights managed revenues and photographer satisfaction.

A few points on the graph are on the upswing: number of people submitting photos, number of photos being used, number of photos submitted, growth of the microstock agencies’ revenue and the quality of images available to buyers from microstock.

The scales are overloaded with bad news for professional photographers that have depended on stock sales as their major source of revenue over the past few decades. Hand wringing, doomsday predictions and misplaced insults only create the illusion that one is doing something about the situation.

It's not the end of the world, photographers! © Liliya Abdullina | Dreamstime.com

The industry has radically changed.  It is not likely to ever return to its glory days. What to do about the current state of affairs?

1.   If stock makes up your sole income and your work is so specialized that only a few could fill your niche; congratulations, you are safe for now.

2.   If not, develop alternative income and soon.  What can you do with your skill set outside of stock? The hard fact is that some of you will choose to leave the industry. You will trade places with the amateurs that left their day jobs to become serious about stock.  Those of you who make that decision are not failing but growing.

3.   Create innovative images that will satisfy the most discriminating art buyer and place them in rights managed collections. (The revenues may be in decline but millions are still generated with these licenses)

The recession has contributed something to the decline in stock photo reviews.© Stephen Vanhorn | Dreamstime.com

4.   Shrink your overheads to match your declining stock revenues. You can do it; most of America has figured out how in the last two years. Start with reviewing renegotiating charges for insurance, products and services.

5.   Develop as many revenue streams as possible. That will include participating in microstock for some.

6.   Revitalize your assignment business. Only a few have the talent, equipment, business skills and eye to consistently bring back the money shot. Make certain that that person is you by constantly improving and updating your skills and business sense.  You may be an artist but you must be a savvy business person to succeed.

Part II What’s up with microstock?  To follow

This post first appeared in slightly different form on the ASMP Strictly Business Blog

Responses to rude behavior pop up everyday this summer: escaping flight attendant, rude boss outed for playing Farmville and an intern feeling mistreated by a photographer.

Recently a very frustrated photographer, let’s call her Susie, bcc’d me on an explosive email she sent to a prominent assignment client who she felt had caused her money and time needlessly.  Her reaction? She didn’t simply burn a bridge, she nuked it. A law in physics states that for every reaction there is an opposite and equal reaction. Does that rule apply to business? Not usually but sometimes.

© Dmitriy Shironosov | Dreamstime.com

During the first visit to an art buyer who didn’t see enough fashion work in the book (Susie is a lifestyle photographer with terrific ad work using models), the prospective client asked her to do a test shoot…on her dollar.

She was jazzed. Hired a stylist, make-up, scouted for the perfect location, spent a few days in prep and a day shooting. Susie sent the work to me and I picked my favorites. She sent the best of the lot to the client and then waited. And waited. And waited. After 2 weeks, she called. Left a message. Did that a few times. Tried email. Nothing. Maybe the art buyer was fired? Maybe she died?

Finally she left a message, “I understand if you are avoiding me for personal reasons or something else. But if you don’t want to work with me, please email or call so that I will stop wasting both of our time.”

Art buyer responded, “Sorry but there simply isn’t enough fashion work in your book.” Remember she asked Susie to do a fashion test, as there wasn’t enough fashion in the book. When I looked at what the client uses, Susie’s work was spot on. The match that burned the bridge was lit.

How to handle an impossible client for your photographic services?

Should you try to work it out with a client? Sometimes it works and the fact that you are willing to bend a little…(not completely over) can sometimes help even the coldest heart and rudest jerk. Suggestions:

©Yuri Arcurs/Dreamstime.com

• Eat crow. “So sorry the shoot didn’t work for you. I’ll redo it at cost. (Only if you truly did screw up in a major way or if the client is a regular)
• Talk over the situation with someone that can give the issue perspective. Maybe YOU are the jerk. (Exclude significant others: you have a right to exaggerate the a-hole’s behavior to them for maximum sympathy.)
• Offer to discuss the issue with the client…in a non-defensive manner. “Could you spare a few minutes to help me to understand what went wrong, so I can avoid this situation in the future?”
• Ask yourself what could I have done differently? Then DON’T do it again
• All else fails, dump the client. Don’t nuke them. You never know where they’ll show up again.
• Nuke the worst of them anyway as you don’t want to work for them ever again even from the poor house and no matter where they show up or what they say about you, people will soon come to consider the source of the negative remarks and discredit them.

Big names can get by with being prima donnas…but you better be better than damn good if you intend to act like one.

Over the next few months, I will give you a glimpse of a few of the chapters in my new book-Microstock Money Shots, including tips from that chapter.

Since photo credits tend to be in tiny type in all books, I’ll give credit where credit is due by listing the photographers whose work appears in that chapter.

(Of course, I’m trying to entice you to buy the book! As we were advised in class, “always end a book report with…to learn more, read the book!”)

In the book introduction, Andres Rodrigues writes about his evolution into a top microstock success story. Much to learn from Andres about the learning curve in microstock.

Chapter one is titled “A Snapshot of the Microstock Industry” but it includes the key points in the history of stock photography that might effect the future of stock–if you don’t pay attention to history, you may repeat it and not with the best results!

Other topics include understanding the types of stock licenses including a solid explanation of the various creative commons licenses and what they mean. A quote sums it up: “No matter what licensing model they use, all serious amateurs and professional photographers want to know what to shoot to maximize downloads of their photographs. This book shares my more than thirty years’ experience working with companies that specialize in stock and microstock business models to answer that very question. This book suggest(s) which types of images the marketplace demands year after year.”

A section in Chapter One called “Understanding Your Rights” lays out the different kinds of businesses in stock photography: rights managed, royalty free and microstock with details on how they differ so that you can better judge where some or all of your photos will perform best. Copyright is highlighted with an explanation of the creative commons copyright and what it means to you.

I suggest that the motivation for someone to seek a stock photo is often because they believe that it already exists. Thus, like it or not, stock photography is a business of cliches. Highly unusual or artistic images may get used for marketing purposes now and then but are rarely licensed repeatedly. Speaking generally, the best stock photo is a photo that already exists. It’s up to you to create something new; combining commerce with art to produce a marketable and desirable image.

Photocredits in Chapter one: Chapter Opener: Pete Saloutos.  Interior shots: James Steidl, Chippix, Teng Wie, Yuri Arcurs, Alexander Raths, Beata Becla, Andresis Pidjass

Read more… or

This is our summer of discontent. The never ending recession combined with falling day rates, cheap stock, overwhelming heat, high water and the lack of funds to escape to a cooler spot has many photographers in the doldrums. Work is slow and a hoped for turnaround in the fall is still too far away to hang a camera strap on. So have a cool drink…forget lemons to lemonade…how about a bloody-hell Mary? Or a Hail, Mary for that matter and a chuckle.

A colleague (I can’t reveal his name in order to protect his lack of innocence) who speaks to photographers day and night has heard enough photographers’ complaints lately to write a book. Instead he kicked his funny bone and came up with the following as proposed issue themes for PhotoDistrict News beginning in Jan 2011.

January: Happy New Year Editorial Day-Rate issue
February: In the Black–that WAS Photo-History Month issue
March: Beware the Idle of March-The undercut issue
April: Ding Dong. Oh, #$%@&, is that the Tax Man at the door?
May: “Captain! May Day! May Day! issue
June: Graduation Special: Brooks Institute Owes me $100,000 issue
July: Happy Google Images Day!
August: Back to Trade-School Issue
Sept: Rights Managed Memorial Day issue
October: PPE Conference: Please Please Earn (something, anything) issue
November: Happy Thanks-For-Nothing: Disgruntled Photographers’ Issue
December: “Here Comes hidden Contract-Claus, Here Comes hidden Contract-Claus…”

Now that we’ve gotten you laughing…mosey over to Amazon and buy my book due out August 24 for a read about how we got here -that’s in the first chapter and some tips on all things photographic except the stuff that you already know about lenses, lights and tripods (the rest of the book).

I’ll recap each chapter as the month goes on and list the names of the photographers that appear in that chapter. Stay tuned!

The media often feature Mark Getty and Jonathan Klein as the founders of Getty Images, but were they truly the company founders like Mr Hewlett and Mr Packard, or Steve Jobs who started up their companies from scratch in their garages?

Mark Getty and work colleague Jonathan Klein cleverly identified the potential for huge growth in the stock photo industry, sought out Tony Stone Images as the market leader, acquired the company, and left their careers at London-based Hambro’s Bank to become Chairman and CEO of the company. It was Getty Holdings, representing a consortium of Getty family interests, which bought Tony Stone Images (Tony had previously purchased Click! Chicago and my company, After-Image).

The two re-branded the business as Getty Images, and worked with Tony and his existing management to carry the company forward. So you could say that Tony Stone (who founded his enterprise in the loft of his home decades earlier) was the true founder of Getty Images.

Tony Stone catalog from 1996 Vol 8

I was insulted by Klein’s remark in the recent NY Times article, “When we began, stock photography or licensed images, preshot images being licensed, was perceived as the armpit of the photo industry,” said Jonathan Klein, the chief executive of Getty Images who helped found the agency in 1995. “No self-respecting art director or creative director would use a preshot image, because it wasn’t original, it hadn’t been commissioned by them, it wasn’t their creativity.”

I know from  direct experience as the president of Tony Stone Images/LA that the top creatives regularly bought stock photography including for high visibility,  big campaigns for major advertisers prior to the invention of Getty Images.  I submit that neither Getty nor Klein were responsible for elevating the creative level of the stock photo business. Those laurels go to Tony and the photographer/founders of the Image Bank (Pete Turner, Jay Maisel, Larry Fried as well as businessman, James Garcia). There is no doubt of the immense achievement of Mark Getty and Jonathan Klein – they continued the acquisition of companies which Tony Stone had started, and accelerated the move into the digital world. But the very least they should do is refrain from continuously insulting those whose shoulders they  stood on.

It was Tony Stone’s vision that kickstarted Getty Images’ position at top of the creative market. When I sold my company, After-Image, to Tony and became part of Tony Stone Images, we had over 400,000 photographs in the files in Los Angeles. Tony took one look at the dozens of meticulously organized file cabinets and asked me, “Why do you need all these photos?” He had recognized the highly creative nature of some of the After-Image collection but correctly realized that much was just ‘filler’.

Tony Stone catalog from the mid-1990's

Tony Stone has joined the executive team at Vivozoom

Tony’s theory then and now, reinterated on Microstock Diaries, is that there is no point in wasting time and resources on anything except the best photos in a genre. He once told me that all the world needed was a dozen of the best photos of Paris as those were the images that would run as covers, chapter openers or full page spreads. Why have photos of every little burg in Provence when those images will usually only run small. Of course this was before the Internet and the decline of print. And prior to microstock’s long tail circling the globe.

In addition to the big news last week that Tony Stone has joined  former colleague, Lawrence Gould, at Vivozoom, I noticed news about a new microstock company specializing in images from Israel, with what seems to be an emphasis on religion. Is there a new era in the lifecycle of the microstock business, signaled by these two unrelated events? What do you think? Stay tuned.

Some advice bears repeating: The following was written as part of the ‘Inspiration” section of the Agency Access site and posted 3/16/2010. Slightly changed here.

The vote is in. Based on the many comments on Shannon Fagan’s guest post made by stock  industry leaders and photographers, the majority do not believe that the stock business is dead, perhaps sleeping but far from a vegetative state.  Millions of dollars are still being generated by the photography licensing business in all models even though to the individuals whose income has decreased by up to 50% it doesn’t seem so. The best time to review the tried and true is when you are searching for the new. Here’s a quick recap of some best practices in stock photography.

©billyphoto/Dreamstime.com

• Become known for a specialized style or subject.  Gain access to a unique location or group that is unattainable for others.  Work and work until your images are at the top of the list for your niche in technical quality, originality and marketability.

• Photography may seem to some to be a passive activity; photographers survive by being observers from behind the lens.  To succeed in today’s marketplace you must get out from behind the camera to build a following:

• Explore all the social networking opportunities available. Follow people outside of photography. Professional photography is about filling a need. Follow the Facebook and Tweets of those who might need you in addition to those photographers who are generous with their knowledge such as Chase Jarvis or Yuri Arcurs. (See more about the social web below)

• Get physically in front of your clients and potential clients. Step up your go-sees. As more and more people depend on electronic connections, those who take the time to visit their clients have a better chance of getting in to see the decision makers. This applies to those with specialty stock collections not only assignment photographers.
  

  Going it alone deprives you of connections, information and the opportunity to teach. ©Billyfoto@dreamstime.com

• Don’t depend exclusively upon a stock agency to distribute your work especially if you have a strong niche. Consider licensing your niche stock photography direct to buyers.

Fortunately now there are tools to enable photographers to build a unique stock photo collection and to license it directly.

• Explore services like PhotoShelter and License Stream to ease the responsibilities of building an independent stock site.

• Expand your marketing to cover every possible user of the photos within your niche.  Agency Access slices and dices stock buyers into lists of those with every imaginable subject/business need. Join the trade associations of your major client base not just photographer industry groups.

• Some say that direct mail for photographers is dead. Not according to art buyers that I’ve heard from.  Remember you are there to provide an answer to a visual question. Those who need your specialization want to hear from you if you can help them look better in their job.  Use the most creative designer you can afford to ensure that your DM pieces stand out.

Classic OPTE Project Map of the Internet 2005/©©(some rights reserved)attribution:www.opte.org/maps/

• Connect electronically.  Make your email blasts informative…. provide data, antidotes, statistics that will help your users in their work. Don’t simply sell yourself. That’s spam.

• Accept that twitter isn’t simply silly, that Facebook doesn’t just work for grandparents and that a blog is gossip or a place to vent. All these are communication tools. You are a communicator. Use them. And if you still haven’t. START NOW. You’ll be surprised how much you’ll learn and who you will connect with…(and how much time you’ll waste unless you set limits.)

• Know your audience. Who are the people most likely to license your work? What are their job challenges? You can’t provide answers unless you know the questions. Follow the activities online of the companies that are likely to use your type of photos. Pick up on what they are using and where.

Be wary of following the urge to SHOOT only what sells.  Part of what has harmed the stock photo business over the last few years is in an overabundance of photos all of the same subjects/styles. Originality has diminished and frustration has grown.  As one photographer recently asked me, “How many pictures does the world need of happy people jumping on a trampoline?”

Most photographers began their career with a love both of photography and a certain subject. As their careers develop, many chase the market and lose sight of what gave them creative kicks in the first place. This is especially true for those that put their hat into the stock photography ring and followed the demands of stock companies requests to the exclusion of the vision that brought them to photography. Regain it.

Be a Story

Conversations with Taylor Davidson resulted in the earlier post ‘be a hub‘. I promised that the conversation would continue. Now close to the eve of Taylor’s two appearances at SXSW-Photoshelter’s Austin Photo Seminar about “Creating Context for your Content”  and the  SXSW Core Conversation “Everyone is a professional photographer”, another powerful message from Davidson about the stories we tell and the ones that we live-as writers, photographers and communicators.

How can photographers move their story-telling skills into a broader context?  And why is this important?  Taylor responds, “Telling good stories is a necessity for photographers. But creating a story creates much richer interactions.  It’s these broader interactions that are the biggest artistic and business opportunities today because the economics of creating context have changed (i.e. cheaper to connect, create communities, empower niches), making rich experiences and interactions more available, possible, and powerful than ever before.”  As Taylor’s friend, Michael Bonifer, co-Founder of GameChangers posted, “Story is more powerful as a verb than as a noun”.

Taylor uses Jeremy Cowart’s Help-Portrait project  as an example of a photographer creating and being part of a story.  Cowart’s project, altruistic in concept, has nevertheless put him in contact with many, many people. Each connection creates the possibility of a secondary story by connecting with others who want to be part of the story. This creates a shared experience that spreads organically, touching many people. Connections create interest and trust…two essentials to success.

Photo used with permission of the photographer©Gregory Holm

Here is my favorite story about a story that a photographer and an architect created. Photographer Gregory Holm and architect Mathew Radune envisioned Ice House Detroit to illustrate the frozen Detroit housing market.  After securing funding from kickstarter.com, they  encased one of the thousands of Detroit’s abandoned houses in ice. The resulting story was told in outlets as diverse as Dwell , Village Voice, BBC, NPR, New York Times, German Public Televison, Time and the Huffington Post. People all over the world connected to the story. Taylor points out that this type of collaboration not only helps solve a problem, build trust and gain name recognition, but it helps create business opportunities.

Taylor helped me sum up his overall message: Being a story is alive and three dimensional… it brings a story teller into a story rather than the common voyeuristic position of recording and seeing it, one step removed from the story by the lens of a camera. The work connects interactions between people and ideas that in turn connect the work to the story (my words).

The Ice House Detroit project was funded via Kickstarter.

Taylor Davidson finds himself at the intersection of photography, social media, business development and economics. His thoughts on where the stock photography business might be going and how to stay around for the ride:

Social Media Expert/Photography Geek Taylor Davidson

Taylor began our recent conversation, “All businesses have a life cycle, including creative businesses. There is the building or construction of the business, growth and what I like to call ‘creative reconstruction’ rather than deconstruction.  Companies go from  cottage businesses to being consumed by large companies (aggregators of content, in our case). The latest changes in stock photography are merely the latest cycle of industry upheaval. The technology required to create, distribute, promote and use stock images (like all creative content) changed everything”.

“The bigger question is what happens from here?”

“The economics of new technologies gave anyone the tools to create, but didn’t  guarantee that they would profit from creating. While the activity is in the long tail, profits flow to the aggregators in the tail.” (Taylor refers to the
aggregator as the ‘hub’. Getty Images is the big wheel around the stock photo hub.)

Taylor points out that the economics of the hub have been changed by many factors, one of which is social media. He explains that electronic word of mouth has given power to smaller hubs. By being a specialty destination, your website/blog can become the hub for that subject or story. You can operate in smaller niches but you MUST be the hub in the niche. You must be really good at (your niche). You must be the top choice in the subject.

He says, “Be a hub. Find a niche, and be the hub in that niche. This advice applies to broader issues: how can you expand your scope? How can you create ancillary products; do other types of photography? How can you be a different kind of hub? Be a hub for information, for knowledge. Teach other people how to be a hub for their own niches. Bring other photographers together to create a hub.

I asked Taylor if he had suggestions for how a photographer could become a sought after hub of information/activity/engagement. After humbly explaining that he was very good at asking questions but not so great at coming up with answers (I disagree), Taylor added:

“I have a strong belief that successful businesses need to be more like people. Individuals want to connect to the people behind a business.” He suggests that a photographer that only shows photos on his/her website is missing opportunities to connect with their audience.  People want to see more than a series of  images. Photographers should use all the tools available to them to tell a story. Be a hub of information about not just yourself and your work but about a story that you have created.”

Santa Cruz Fog©Taylor Davidson

I asked Taylor what I should say to the photographer that is already overwhelmed with keeping a business going, faced with the need to post to a blog, create another story, learn FinalCutPro, or build a movement. Taylor is an optimist…but even so he and I agree:

“If you are blind to change, you aren’t going to make it in today’s market [for stock or assignment photography].” The photographer has to  DO THE WORK. One task at a time, keep learning.

Davidson suggests, “One secret to continued growth in creative endeavors is to retain or recapture youthful curiosity. Young and emerging photographers are free to try all manner of things; part of the excitement is not knowing what the long-term impact of the experiment will be. Could be a career changer or a dud. The cost of failure when you are young is much less than at mid-career.”

“Even in mid-career, you must be willing to open yourself to serendipity. Don’t put yourself in a situation where the only experiments you try
are the ones that could wipe you out.” Try  little experiments. Try one a day, one a week even if the  burden of mid-career responsibilities keep you  focused on getting through the demands of running an established business. These small experiences will sometimes create opportunities. (But don’t expect them all to.)”

(In a continuation of my conversation with Taylor in a future post, I discuss how photographers can embed humanity into their businesses and to break down the barriers between the message and the person.  Taylor then discusses ‘the story’ and authentic marketing for photographers).

Can you increase your Income from Rights Managed Stock Photography?

The rights managed stock photo business is in great flux due to the explosion of easy access to user-generated photos on microstock sites and Flickr as well as expanded search. You need a strategy to create rights managed images to compete with the hundreds of thousands of images licensed for a dime on the dollar.

Become known for a specialized style or subject.  Gain access to a unique location or group that is unattainable for others.  Work and work until your images are at the top of the list for your niche in technical quality, originality and marketability.

Photography may seem to some to be a passive activity; photographers survive by being observers from behind the lens.  To succeed in today’s marketplace you must get out from behind the camera to build a following:

• Explore all the social networking opportunities available. Follow people outside of photography. Professional photography is about filling a need. Follow the Facebook and Tweets of those who might need your photography in addition to those photographers who are generous with their knowledge such as http://www.strobist.blogspot.com/ or http://www.johnlund.com and
  http://www.arcurs.com/

Introduction to e-Marketing: Push Digital on Social Media & Online Marketing for small businesses- Choose Suffolk Tourism Roadshow
View more presentations from Choose Suffolk (Suffolk Development Agency).
• Get physically in front of your clients and potential clients. Step up your go-sees. As more and more people depend on electronic connections, those who take the time to visit their clients have a better chance of getting in to see the decision makers. This applies to those with specialty stock collections and not only to assignment photographers.

• Don’t depend exclusively upon a stock agency to distribute your work especially if you have a strong niche. Consider licensing your niche stock photography direct to buyers.

Fortunately now there are tools to enable photographers to build a unique stock photo collection and to license it directly

• Explore services like PhotoShelter and their business white papers such as the recent one on social media for photographers: http://www.photoshelter.com/mkt/research/social-media-for-photographers or take a look at http://www.licensestream.com/licensestream2/Portal/index.aspx Use code ELLENB when you sign up for a 10% discount.

• Expand your marketing to cover every possible user of the photos within your niche.  Agency Access (http://www.agencyaccess.com/index.cfm?go=home.PhotoConsulting) slices and dices stock buyers into lists of those with every imaginable subject/business need.

• Some say that direct mail for photographers is dead. Not according to art buyers that I’ve heard from.  Remember you are there to provide an answer to a visual question. Those who need your specialization want to hear from you if you can help them look better in their job.  Use the most creative designer you can afford to ensure that your DM pieces stand out creatively.

• Connect electronically.  Make your email blasts informative…. provide data, antidotes, statistics that will help your users in their work. Don’t simply sell yourself. That’s spam

• Know your audience. Who are the people most likely to license your work? What are their job challenges? You can’t provide answers unless you know the questions.

©Dreamstime.com

Be wary of following the urge to SHOOT only what sells.  Part of what has harmed the stock photo business over the last few years is in an overabundance of photos all of the same subjects/styles. Originality has diminished and frustration has grown.  As one photographer recently asked me, “How many pictures does the world need of happy people jumping on a trampoline?”

Most photographers began their career with a love both of photography and a certain subject. As their careers develop, many chase the market and lose sight of what gave them creative kicks in the first place. This is especially true for those that put their hat into the stock photography ring and followed the demands of stock companies requests to the exclusion of the vision that brought them to photography. Regain it.

For the last 40 years, the majority of stock photographers were in the middle : middle income/middling talent.  Most stock photos could be categorized as predictable but very salable in rights managed and royalty free markets.  Enter microstock and a new class was created from the millions of camera owners across the world. Demand for average photos of predictable subjects licensed from traditional rights managed and royalty free distributors tanked.

Stock photographers began wringing their hands and demanding that users PAY MORE! They were rightfully ignored and began to disappear as their incomes declined.

How can you navigate around the large black hole into which hundreds of stock photographers are falling, never to be seen again?

You can take the high road or the low. Depending on your work, I suggest traveling both.

Stellar work will always find a home. It will fulfill the following requirements. It will be:

• Unique to you
• Expensive to license
• Fresh and unusual
• The best of its kind
• Limited sources for the work either in style or subject

These images won’t license often. There are currently two major places to distribute in the monetized world of stock photography: Getty/Corbis. You may find that if the subject is very unique and/or you have an unusual point of view or access, you will find more buyers by licensing the work directly from your own site. Tools to help: license stream or PhotoShelter and Agency Access.  Cautionary note: look to the world of Hollywood to get an idea of moving into this neighborhood: only a tiny percent of actors living in NYC or LA make more than $12,000  a year at their craft

The low road is more like the highway to the stars. It paves the pocketbook to pay for the stellar stuff. To carry the metaphor to it’s death: think of the revenue from this class of images as pennies from heaven. This work:

• Is generic in subject
• Inexpensive to license
• Fresh
• Best of its kind…the best damn handshake photo out there or close
• Widely distributed by as many microstock companies you can tolerate…see lookstat and isyndica for help
• Not exclusive unless you are one of the top top earners at istock.

More on my ideas on microstock from a November presentation at UGCX:

The Business of Microstock The presentation concludes with some terrific photos from creative commons.

Old timer and Comstock (sold to Jupiter/Getty) founder with Tom Grill, Henry Scanlon once quoted  his grandfather’s advice for a successful business career: “Serve the masses; dine with the classes. Serve the classes; dine with the masses.” (Also attributed to Ray Kroc the founder of McDonalds. Joan Rivers and someone in Imperial Russia.)