Wednesday, July 6, 2011

7 Traits You Need if You Want to Be An Entrepreneur


As the global economy undergoes more changes (and it will continue to do so) even more people will choose to take the plunge into entrepreneurship. Changes to corporate mindsets, downsizing and other upheavals in the “safe” world of formal employment are forcing many to embrace entrepreneurship, and start their own small businesses. Add to those the people with the burning desire to “be their own boss” and you have plenty of new entrants into the wonderful, frightening, exciting and exhausting world of being a business owner.

Whatever your reasons for considering entrepreneurship instead of formal employment, there are a few traits you will need to cultivate in order to succeed.

1. Passion

It sounds like a no brainer, but the most important factor in your success in entrepreneurship is passion for your business. We’ve all had jobs we hate, and let’s face it – it doesn’t inspire you to work incredibly hard, or give your all, does it? Don’t think just because you are working for yourself, that will change!

If you’re bored to tears or just plain hate working on your business, you’re unlikely to give it the energy it needs to succeed. So find something you love doing, and you will have a solid foundation for building a successful new business venture.

2. Plan, Plan, and Then Plan Some More

There’s an old saying ‘Those who fail to plan, plan to fail.’ That’s never been more true than when applied to entrepreneurship.

You need concrete, quantifiable goals, as well as a 30, 60, 90 day strategy on how to get there. Having a plan provides a framework, something fixed to work toward, which will help keep you focused. Get your eyes on the prize and a plan onto paper before you start trying to set up your new business. A handy trick is to imagine your goal is already achieved, and then think back through the steps it took to get there.

3. Be Disciplined

It sounds romantic and exciting to “be the boss,” doesn’t it? Trust me – it’s not, especially at first anyway. In fact, before you get to that fancy corner office with five assistants, there is going to be a lot of blood, sweat and tears poured into your entrepreneurship dream. You need to work harder for yourself, and your business goals, than you ever would for any boss. That means an unlimited and indefinite amount of hours dedicated toward achieving your goal – keeping your nose firmly to the grindstone. Remember, luck is an accumulation of hard work.

4. Be a Cheapskate

Whether you have a big budget or not when you first venture into the game of entrepreneurship, you need to learn the value of frugality – bootstrap your way to success. Most small businesses fail to take time to break-even, let alone become profitable. Thus, when you’re starting out, finding cheaper and more innovative ways to accomplish tasks is one of the best skills you can learn. Think outside of the box and in terms of leverage. The longer you can stretch your capital, and the more you can save – the better for your business and your mental sanity.

5. Understand That You Are Always Marketing and Selling

ABS – Always Be Selling. Most of us think that marketing and sales is a task. However, when you jump into the wonderful world of entrepreneurship – more than at any other time in your life – everything is about marketing and selling. Don’t be shy to network, discover what your clients want, and broadcast to others that you want their business.

Treat every moment as a selling opportunity, and you will see results:

  • Carry business cards with you everywhere
  • Have a thirty second pitch ready at all times
  • Make a point of meeting people who are your target market – those who should buy your product/service

6. Know That Your Client Is the Most Important Person in Your Business

Success or failure in entrepreneurship hinges on your ability to make your clients want to do business with you. Since repeat business is the backbone of any successful business – your client’s happiness should be priority number one.

Remember the little things. Something as simple as calling a customer back can swing the balance in your favor. Always, always, always put your client first. Build relationships, and you will see your business grow right alongside them.

7. Remember That In Business, Image Is Important

Okay, this one is a bit of a catch twenty-two. You need a professional business image, but you haven’t got the budget. Luckily though, projecting the right image is not all about flashy cars and the right business address. With the information age, you can work from your living room and still have a professional image.

All you need to do is:

  • Make sure you are always well dressed and well spoken
  • Have a professional looking (not necessarily expensive) website and email address
  • Have professional looking business cards

When you’re first starting out, simply focus on little things – those which you can control with the resources you have. The fancy business address can come later, but make sure to get the basics right first.

And….. Now for the Good News

If you’re reading this and wondering where to start on your quest for entrepreneurship, there is one good piece of news for you. Entrepreneurs are not born – they are made.

If some of these things seem beyond you, learn them. Take a course in selling if you have to. Download planning software if you need some help becoming organized. Figure out where your weaknesses are, and work on them in small bits each and every day. In the aggregate you will achieve an exponential return on your investment.

Everyone has the capacity for entrepreneurship in some respect, if you want it bad enough (and you can), success will undoubtedly find you.


Good Day. :)

Tuesday, July 5, 2011

Google Offers beta should scare the crap out of Groupon, other startups


Do you remember the days when every startup had to ask: "If we're successful, will Microsoft move into our market?" With its new Groupon competitor, time has come -- and perhaps long past it -- to ask the same about Google.

Last night during the opening of the D9 conference in Rancho Palos Verdes, Calif., Stephanie Tilenius, vice president of Google commerce, demonstrated Google Offers, which begins beta testing today in Portland, Ore. D9 cohost Walt Mossberg asked Google Executive Chairman Eric Schmidt why Portland? Schmidt said that Portland is a surprisingly good place to test tech products.

Google started signing up Portlanders for the beta in mid April. First rumors about Google Offers surfaced in January, not long after Groupon rejected a buyout offer from Google. Hehe, Google Offers. Rejected offer. Get it? A year from now, Groupon executives may regret not taking Google's offer, because Google Offers is a Groupon competitor with a twist: It integrates with Google Wallet, which was announced late last week.

Like Groupon, Google Offers provides deals with hefty discounts. Today's Groupon featured San Diego deal is for Lambs Daily Theatre.

Portland is first city, but by no means last. Google Offers will soon come to New York City and San Francisco, too. The pace may seem slow, but makes sense. Like mobile search, Google sees the big opportunity in cultivating deals with local businesses. Then, of course, there is Groupon, which also offers local deals.

"Our first Google Offer will be from beloved local java shop Floyd's Coffee." Kyle Harrison, Google Offers product manager, writes in a blog post. "Husband-and-wife team Jack Inglis and Cris Chapman opened Floyd's seven years ago, offering up espresso, coffee, breakfast burritos and more. They now have two convenient locations--one cozy, brick-lined shop in Old Town and another Stumptown watering-hole in Buckman."

Floyd's isn't Starbucks. The coffee shop has two locations in Portland rather than thousands nationwide like Starbucks. "With Google Offers, we're working with great local businesses," Harrison writes. "If you're a business interested in participating in Google Offers, you can let us know too. Finally, if you're at the Portland Rose Festivalthis Saturday, visit our Google booth at CityFair to say hello to our team and learn more about Google Offers."

It's a local push initially, and that should scare the crap out of more than Groupon. After years of declining classified sales, some newspapers are seeing an advertising revival in Groupon-like programs. For example, the San Diego Union Tribune now has the "Daily Deal" program offering local discounts. Google Offers conceptually could present more competition for fledgling programs like this one than Groupon or its competitors, like LivingSocial.

There's no reason to think Google won't go for Starbucks or other national chains, but local is a good starting place and synchronous with efforts around local search, particularly from smartphones.

Then there is Google Wallet, which Offers will be part. Wallet is a mobile payments system Google is launching in conjunction with Citi, Mastercard and Sprint. Simply stated, Google Wallet is an offers and payments system available at the point of sale. In its simplest form, Google Wallet requires a tap to pay the merchant and charge the buyer's credit card. "We make our money through the advertising and the offers," Schmidt said yesterday. Accept the Google Offer, order and pay.

There's a new tech startup bubble building in Silicon Valley and, increasingly, New York City. Perhaps every venture capitalist's dream is the big buyout from once fledgling startups like Google that are now the big behemoths of high tech. But be warned: Google came a-calling with purse full of cash and was rejected. Six months or a year from now, Google's ability to leverage search, Android and mobile payments may crush Groupon and other companies offering similar daily deals. Yeah, that sounds lots like Microsoft during cofounder Bill Gates' glory days of the late 1980s and 1990s.


Good Day. :)

Sunday, July 3, 2011

Please, please, please stop asking how to find a technical co-founder


Listen guys, I'm sorry. But, I just can't do it anymore. I can't keep having this conversation with every non-tech founder. It's just too painful. On you, on me, and everyone else that you've approached. I was once on the search for a technical co-founder, so I can empathize.

But, seriously, Please stop.

Back in the day, I remember going to my favorite startup mentor, Gregg Fairbrothers, and asking him for help finding a technical co-founder. Here's what he said:

I can't help you with that, but all the good entrepreneurs seem to figure it out. Hopefully you will too.

Man, I still love that answer. That's being a founder. If you have a problem, go figure out a way to solve it. As a professor, Gregg was always teaching me larger lessons instead of just answering my question directly. The cynic might say that he was punting because he didn't have advice to give. However, he helped me on hundreds of other startup questions. I believe he was communicating to me that putting together my team was solely on me. No additional instruction required...or possible. That's why I love going back to him for life advice.

But I digress, back to you. You have a very specific problem which you need solved. You need to find technical co-founder. This post is my very best effort to help you think through your problem (and by selfish extension, hopefully to never have to answer this question again).

So, here's the really big mental leap that everyone seems to forget:

You don't find a technical cofounder, you earn one.

And that right there is why I get so bored of this question. It's not like I can really help you 'find' a technical co-founder. You have to earn a technical co-founder. And until you realize that, no one will want to work with you.

So now I ask you, what have you done to earn a technical co-founder?

And don't say that you're the idea guy. Having an idea is one piece, but it's a very, very small piece. In fact, it's so small that it's actually better to earn a technical co-founder without the idea in place so that you guys come up with it together. When neither person has an idea prepackaged with some degree of emotional attachment, it becomes far easier to engage in honest customer development, rapid iteration, and all the other lean processes that will eventually help you find product-market fit. And more importantly, earning a technical co-founder without resting on the merits of your idea forces you to prove yourself in other ways. And that's good for everyone involved.

So, here's the deal. Go out and do all of those things that people always do to find talent. Talk to friends, talk to friends of friends, go to conferences and meetups, etc. Check out the websites that are always popping up (though they don't generally attract quality).

When you meet people through all these various ways, realize that every technical person has one of three options:

A.) Partner with you.

B.) Recommend you to a friend.

C.) Forget about you.

Your goal is to not continually hit Outcome C. And the way to do that is to earn their respect. The following is not a recipe you can follow that magically produces a technical co-founder in the end. However, do a bunch of this stuff and the odds that someone recommends you to a friend becomes much higher. And each of these steps will both make you a better entrepreneur and move your startup along.


How to Earn a Co-Founder

Learn to Code Stop everything else that you're doing right now for your startup and learn to code. If you take the time to learn enough to build some small project, you'll learn the language of talking to hackers, and you'll earn some respect. 99% of non-technical guys looking for a technical co-founder won't put in the effort. This is your single best way of standing out. You'll learn to naturally see the value of Hacker News and Stack Overflow. You'll learn to appreciate how things work. And hopefully you'll enjoy it, which will allow you to have real conversations with hackers about what they do. Will Miceli wrote the best blog post I've ever read on exactly this strategy, including awesome links for getting started. Don't know where to start? Zed Shaw will get you started.

Build the Front-End What's to stop you from building the front end of your site right now? You could get design done with 99 Designs, send it off to PSD2HTML, throw it up on Wordpress, and SHABOW! you've got a website. Of course, there's no backend, no data, none of the special sauce that'll make your concept work...BUT, you'll have proved that you know how to market your idea and build a beautiful product. Hopefully, you'll learn a ton about your product, but at the very least you can show an interested hacker more than a napkin business plan.

Throw up a Trial Balloon I'm sure if you think really hard about it, you can come up with some real things that you can do to test your concept hypothesis. And I'm not talking about more MBA-type research. Hopefully, you already know the importance of customer development. Find a way to fake your concept so that users don't know it's not actually built yet. Take that front-end you built and funnel interested users into a beta waiting list. Having real users on a waiting list will help you earn a high quality technical co-founder because you'll be pre-empting his biggest fear: that his work will be a waste of his time.

Build a following Let's say you're building, for example, an automotive parts marketplace. Go start a blog serving the automotive community. They are your future users anyway, and you're going to have to figure out a way to market to them. What better way than earning them now as readers and later converting them to users? And use Twitter to your advantage. Building up a following north of a 1000 people is hard because that's more than just your friends. Which means you have to say interesting things and share helpful links. It's marketing yourself. It'll prove your intelligence and your marketing abilities to your future co-founder.

Spend Some Money When a hacker joins an unproven, non-technical entrepreneur, he's risking his most important asset: his time. Yes, you're also risking your time, but you have different risk profiles. While he already knows he can code, neither of you knows whether you'll be able to deliver as the business co-founder. You need to prove that you've got your proverbial skin in the game too. Go spend some money on offshore coders and get a prototype built. Or offer to pay a salary to your technical partner. My first technical co-founders started as employees. I paid them cash from day one using credit card debt. Over time, I earned their trust, and we became equal co-founders.

If you're a hacker in need of some startup advice, ping me anytime—we'll grab a beer and chat startups. And if you're a business guy that earned a technical co-founder by learning to code, please tell me about it! I'll buy you a beer...you've earned it.


Good Day. :)

Monday, June 20, 2011

Note to entrepreneurs: Your idea is not special



– Brad Feld is a managing director at the Boulder, Colorado-based venture capital firm Foundry Group. He also co-founded TechStars and writes the popular blog,Feld Thoughts. The views expressed are his own. –

Every day I get numerous emails from software and Internet entrepreneurs describing their newest ideas.

Often these entrepreneurs think their idea is brand new – that no one has ever thought of it before. Other times they ask me to sign a non-disclosure agreement to protect their idea. Occasionally the emails mysteriously allude to the idea without really saying what it is.

These entrepreneurs think their idea is special and magic. And they are wrong.

The great entrepreneurs are already focused on the implementation of their idea. They send me links to their website or software. They describe the business they are in the process of creating (or have already created). They point me to what they’ve done to implement their idea and show real users who validate that the idea is important. And they quickly move past the idea to the execution of the idea.

Google? Not the first search engine. Facebook? Not the first social network. Groupon? Not the first deal site. Pandora? Not the first music site. The list goes on. Even when you go back in time to the origins of the software industry: MS-DOS – not the first operating system. Lotus 1-2-3 – not the first spreadsheet.

The products and their subsequent companies became great because of execution. First, they had to execute on building a great product. Next, they had to execute on building a great business. Finally, they had to execute on scaling, sustaining, and evolving a great business.

Rinse and repeat, over and over again.

It’s awesome when an entrepreneur is obsessed with his idea. Every great product that I’m aware of came from an obsession of an idea and every great company followed. But for every entrepreneur that shifted the obsession with the idea into an obsession with the execution of the idea, I know many more entrepreneurs who got stuck on the idea, but never focused on building something from it.

Sure, they tried, but they didn’t obsess about it, pour all their energy into it, and most importantly get as many great people as they could on the journey with them.

As a venture capitalist, I’m constantly looking for great entrepreneurs who have amazing ideas. But I don’t value the ideas. I value the entrepreneurs’ execution of the ideas.

Via reuters.com

Good Day. :)

Tuesday, May 31, 2011

Does Data Mining breach of privacy ?


What is Data Mining ?

Data mining techniques are used to find patterns in large databases of information. But sometimes these patterns can reveal sensitive information about the data holder or individuals whose information are the subject of the patterns. The notion of privacy-preserving data mining is to identify and disallow such revelations as evident in the kinds of patterns learned using traditional data mining techniques.

Can we accept it ?

Some people believe that data mining itself is ethically neutral. It is important to note that the term data mining has no ethical implications. The term is often associated with the mining of information in relation to peoples' behavior. However, data mining is a statistical method that is applied to a set of information, or a data set. Associating these data sets with people is an extreme narrowing of the types of data that are available in today's technological society.

Social Media & Data Mining.

Big companies are mining the social media site to build dossiers on you. Information posted publicly on blogs, Facebook, Twitter, forums and other sites is fair game. It is yet another reminder that people need to be aware of what they are posting on social networking sites and to whom they’re connected.

Misuse of information.

Trends obtain through data mining intended to be used for marketing purpose or for some other ethical purposes, may be misused. Unethical businesses or people may used the information obtained through data mining to take advantage of vulnerable people or discriminated against a certain group of people. In addition, data mining technique is not a 100 percent accurate, thus mistakes do happen which can have serious consequence.

As my articles here explain on the dangerous of Data Mining, we eventually can stop it if we control and think about what we do when surfing the web.

Good Day. :)

Sunday, April 24, 2011

How to Create A Unique Selling Point to Beat the Competition

When promoting your product/service it is easy to miss a key trick, which is to make what you are selling unique against the competition, making your products clearly the best choice in your customer’s eyes. This is the key focus of the USP, also sometimes said to stand for ‘Unique Selling Point’.

The USP was originally discussed in the 1940s and defined in print by advertising executive Rosser Reeves, who was concerned that advertising was losing track of its purpose.

Rosser Reeves stated:

“Each advertisement must make a proposition to the consumer. Not just words, not just product puffery, not just show-window advertising. Each advertisement must say to each reader: ‘Buy this product and you will get this specific benefit.

The proposition must be one that the competition either cannot, or does not, offer. It must be unique-either a uniqueness of the brand or a claim not otherwise made in that particular field of advertising.

The proposition must be so strong that it can move the mass millions; i.e., pull over new customers to your product”.
— Reeves, 1961

A good current example of a clear USP is the well-known Brand:

Head & Shoulders: “You get rid of dandruff”

Other propositions that were pioneers when they were introduced are:

    Domino’s Pizza: “You get fresh, hot pizza delivered to your door in 30 minutes or less – or its free”
    FedEx: “When your package absolutely, positively has to get there overnight”
    M&M’s: “Melts in your mouth, not in your hand”
    Wonder Bread: “Wonder Bread Helps Build Strong Bodies 12 Ways”

Having a Unique Selling Proposition is not just nice to have, it’s a must have. Without it, your business runs the risk of

  • Getting lost in the crowd, as a me-too
  • Not being able to attract the target clientele, who might be using another product and is given no incentive to switch
  • Being caught in a price war, since that would be the only differentiator, given all other things are equal

That being said, your product or service must clearly deliver value to the user, or it will fail, USP or no USP!

Now that we have covered the background and importance of USP’s; let’s go ahead and cover the various aspects of creating one which is successful.

1. Market Research: First things first, you need to get into your customers heads. Ideally the main reason why you are in business is to help solve your client’s challenges and meet their values within your service/product.

Do not just pick a factor about your product that seems strong to you. Do your research properly. Find out what criteria customers use to compare products against one another.

Clients have a list of desired features or problems that are resolved by the benefits that are conferred by buying your product.

2. Key variables: The USP says what is different about the product, particularly in comparison with major competitors and the market place. Thus you can take a range of variables and produce a table to find out where you are better or worse than competitors.

Variables such as speed, size, convenience, safety, style or ease of use are ones which should be considered in your design. Price is not a key ingredient.

3. Positioning: With the USP you need to position your product not just against the customer’s needs but also against competing products. The USP thus explains what is unique about what you have to sell.

Words such as better, faster, Stronger (etc.) can also be used within your USP to create a more compelling angle.

4. Offer Proof: Consumers are very skeptical of claims companies make, especially with the surge of the information age. So alleviate their skepticism by being specific and offering proof when possible.

5. Clear and concise: Your USP needs to be clear and concise. The most powerful Unique Selling Points are perfectly written.

6. Deliver on your promise: Your USP should have promises and guarantees that capture your audience’s attention, having said that it should be one which you can deliver that.

Having a strong USP can make your business a big success or a big failure if you don’t deliver on it thereby ruining your reputation.

Using a powerful USP is the driving force that builds your business success. Build your USP and use it to optimize your marketing materials for maximum results.


Good Day. :)

Sunday, April 10, 2011

10 Books Every Entrepreneur Must Read From 2010

Linchpin: Are You Indispensable? – Seth Godin

linchpin - seth godinThere used to be two teams in every workplace: management and labor. Now there’s a third team, the linchpins. These people invent, lead (regardless of title), connect others, make things happen, and create order out of chaos. They figure out what to do when there’s no rule book. They delight and challenge their customers and peers. They love their work, pour their best selves into it, and turn each day into a kind of art.

Linchpins are the essential building blocks of great organizations. Like the small piece of hardware that keeps a wheel from falling off its axle, they may not be famous but they’re indispensable. And in today’s world, they get the best jobs and the most freedom. Have you ever found a shortcut that others missed? Seen a new way to resolve a conflict? Made a connection with someone others couldn’t reach? Even once? Then you have what it takes to become indispensable, by overcoming the resistance that holds people back.

Delivering Happiness: A Path to Profits, Passion, and Purpose – Tony Hsieh

tony hsieh - book* Pay brand-new employees $2,000 to quit
* Make customer service the responsibility of the entire company-not just a department
* Focus on company culture as the #1 priority
* Apply research from the science of happiness to running a business
* Help employees grow-both personally and professionally
* Seek to change the world
*Oh, and make money too . . .

Sound crazy? It’s all standard operating procedure at Zappos, the online retailer that’s doing over $1 billion in gross merchandise sales annually. After debuting as the highest-ranking newcomer in Fortune magazine’s annual “Best Companies to Work For” list in 2009, Zappos was acquired by Amazon in a deal valued at over $1.2 billion on the day of closing.

In DELIVERING HAPPINESS, Zappos CEO Tony Hsieh shares the different lessons he has learned in business and life, from starting a worm farm to running a pizza business, through LinkExchange, Zappos, and more. Fast-paced and down-to-earth, DELIVERING HAPPINESS shows how a very different kind of corporate culture is a powerful model for achieving success-and how by concentrating on the happiness of those around you, you can dramatically increase your own.

Rework – Jason Fried & David Heinemeier Hansson

reworkMost business books give you the same old advice: Write a business plan, study the competition, seek investors, yadda yadda. If you’re looking for a book like that, put this one back on the shelf.

Rework shows you a better, faster, easier way to succeed in business. Read it and you’ll know why plans are actually harmful, why you don’t need outside investors, and why you’re better off ignoring the competition. The truth is, you need less than you think. You don’t need to be a workaholic. You don’t need to staff up. You don’t need to waste time on paperwork or meetings. You don’t even need an office. Those are all just excuses.

What you really need to do is stop talking and start working. This book shows you the way. You’ll learn how to be more productive, how to get exposure without breaking the bank, and tons more counterintuitive ideas that will inspire and provoke you.

With its straightforward language and easy-is-better approach, Rework is the perfect playbook for anyone who’s ever dreamed of doing it on their own. Hardcore entrepreneurs, small-business owners, people stuck in day jobs they hate, victims of “downsizing,” and artists who don’t want to starve anymore will all find valuable guidance in these pages.

Never Get a “Real” Job: How to Dump Your Boss, Build a Business and Not Go Broke – Scott Gerber

scott gerber - never get a real job

A twenty-something hustler, rainmaker, and bootstrapper who has survived and thrived despite never having held the proverbial “real” job, Scott Gerber is the ultimate “Generation Y-er.” He’s a self-taught serial entrepreneur who built several successful businesses without storied business connections, a business school background, executive training—or investment dollars. And in Never Get a “Real” Job, he shows you how he succeeded so you can overcome today’s chronic conditions of mass unemployment, underemployment, and dead-end 9-to-5s.

Gerber gives you the no-bull reality on turning your business idea into a viable enterprise capable ofgenerating real income now—based on his hard-knocks lessons learned in the entrepreneurial trenches. From the perils of doing too much too fast, to bogging down a promising start-up with infrastructure long before it’s needed, Gerber has experienced firsthand how you can sabotage your own business. Never Get a “Real” Job will help you avoid the costly mistakes that can take down your enterprise at any time, helping you to get off the ground, establish your business, and keep it successfully up and running.

But Gerber isn’t just giving you a collection of war stories. He gives you insights from a fellow young entrepreneur on how to start from absolutely nothing—building a viable business model from the ground up. Along with straight-shooting advice on creating contacts and cultivating clients, he offers practical, affordable, step-by-step instructions on how to constantly analyze, refine, and target your business offerings—while minimizing wasted time and keeping you on track.

Smarter, Faster, Cheaper: Non-Boring, Fluff-Free Strategies for Marketing and Promoting Your Business – David Siteman Garland

david siteman garlandIf you’re interested in building, marketing, and promoting your business with agility and grace, not sloth and dullness, get Smarter, Faster, Cheaper. This one-stop guide to the new entrepreneurial landscape—minus the “same old, same old” baggage that drags so many down—gives you real-world examples (as opposed to fluffy theory) from unique, winning innovators, inspiring you to think big and then take successful action.

In Smarter, Faster, Cheaper, you’ll meet a slew of already legendary new entrepreneurs and promoters, such as “Nametag Guy” Scott Ginsberg, Bravo’s “Millionaire Matchmaker” Patti Stanger, Wine Library founder Gary Vaynerchuk, bestselling author and Squidoo founder Seth Godin, and many, many more. As you learn from their successes and failures, as well as those of author and entrepreneur David Siteman Garland, you’ll discover fresh and exciting approaches to:

  • Becoming a trusted resource
  • Building your audience and community
  • Helping others while helping your business
  • Using your content as a handshake
  • Creating and growing one-on-one relationships with your customers
  • Communicating effectively online and via social media
  • Avoiding “selling” by educating, inspiring, and entertaining instead
  • And more!

Switch: How to Change Things When Change Is Hard – Dan Heath & Chip Heath

switchWhy is it so hard to make lasting changes in our companies, in our communities, and in our own lives?

The primary obstacle is a conflict that’s built into our brains, say Chip and Dan Heath, authors of the critically acclaimed bestseller Made to Stick. Psychologists have discovered that our minds are ruled by two different systems—the rational mind and the emotional mind—that compete for control. The rational mind wants a great beach body; the emotional mind wants that Oreo cookie. The rational mind wants to change something at work; the emotional mind loves the comfort of the existing routine. This tension can doom a change effort—but if it is overcome, change can come quickly.

In Switch, the Heaths show how everyday people—employees and managers, parents and nurses—have united both minds and, as a result, achieved dramatic results:

  • The lowly medical interns who managed to defeat an entrenched, decades-old medical practice that was endangering patients.
  • The home-organizing guru who developed a simple technique for overcoming the dread of housekeeping.
  • The manager who transformed a lackadaisical customer-support team into service zealots byremoving a standard tool of customer service

In a compelling, story-driven narrative, the Heaths bring together decades of counterintuitive research in psychology, sociology, and other fields to shed new light on how we can effect transformative change. Switchshows that successful changes follow a pattern, a pattern you can use to make the changes that matter to you, whether your interest is in changing the world or changing your waistline.

Do More Faster: TechStars Lessons to Accelerate Your Startup – Brad Feld & David Cohen

do more fasterIt is a cold, hard fact of business life that most startups fail. Even many of those entrepreneurs who ultimately succeed have stories of personal challenges, unsuccessful companies, and difficulties along the way. The founders of TechStars, a mentorship-driven startup accelerator, have worked with entrepreneurs and companies over the past twenty-five years, and have seen a number of the same issues come up again and again.

In Do More Faster, the founders of TechStars identify the key issues that first-time entrepreneurs encounter, and offer proven advice from successful entrepreneurs who have worked with the TechStars program.

The authors organize the most critical issues into seven themes: Idea and Vision, People, Execution, Product, Fundraising, Legal and Structure, and Work and Life Balance. Many of the examples are personal experiences from the entrepreneurs themselves, integrated into a cohesive narrative—while at the same time able to stand on their own. Throughout the book, they debunk numerous myths about startups and reveal some surprising truths. They explain, for instance, that the core of a startup is not always a world-changing and earth-shattering idea—in fact, it is often the case that successful startups started out doing something else. They also underscore the efficiency of execution: great entrepreneurs know how to synthesize data, make a decision about the path they are going down, and execute. And they offer some alternatives to traditional ways of raising money, while stressing that you shouldn’t start with the assumption that you need to raise money.

Mastering the seven themes may not ensure success, but understanding the issues, reading the stories, and getting advice pertaining to these issues will increase your chances dramatically. And if nothing else, you’ll realize that you aren’t alone in facing these challenges.

The Little Big Things: 163 Ways to Pursue Excellence – Tom Peters

tom peters - little big thingsIn his latest book, business guru Peters (In Search of Excellence) combines observations he has gleaned from his travels, current news items, conversations, and followers of his blog in a compact guide that aims to help readers realize effective projects, customer contentment, employee engagement, and business profitability. No doubt, Peters is on target as he advises readers to appreciate the angry customer, work on their last impressions, make sure that the restroom is clean, and 160 other ways to guarantee success. Each suggestion contains a rationale, example, and method of implementation, all in two pages apiece.

VERDICT Those who want to improve their business, whether a boss or an employee, will find great ideas in this compelling and very browsable book.—Deborah Bigelow, Leonia P.L., NJ

UnMarketing: Stop Marketing. Start Engaging – Scott Stratton

unmarketingConsider marketing. It’s a vital aspect of running a successful business, but lately its practices have been taking a beating. And why not? Do you like getting cold-called just when you sit down to dinner? Having your mailbox clogged with random offers you immediately toss? Do you listen carefully to the ads that interrupt your favorite TV show? No? If these experiences are “marketing,” you—and your customers—probably prefer whatever’s the complete opposite.

Instead of trying the same tired methods, what if you could have a new kind of conversation with your customers and prospects? If you’re ready to stop marketing and start engaging, then welcome to UnMarketing.

Taking an on-the-ground look at the changing landscape of business-customer relationships, UnMarketing gives you innovative ways out of the old “Push and Pray” rut, which assumes that messages sent out blindly and broadly will magically lead to loyal, long-term clients. Instead, you’ll discover a new, highly responsive “Pull and Stay” approach that brings the right customers to you through listening and engagement, enabling you to build trust and position yourself as their logical choice when they need you.

With a smart take on using social media as a new toolset rather than just a fad, UnMarketing features numerous bite-size chapters you can consult and apply according to your unique business requirements. These chapters are all bursting with practical tips and real-world examples, giving you a sense not just of what works (and what doesn’t) but of how and for whom.

If all business is built on relationships, then, no matter your enterprise, building good relationships is your business. UnMarketing supplies you with a winning approach to stop ineffective marketing and put relationships first—then reap the long-term, high-quality growth that follows!

The Referral Engine: Teaching Your Business to Market Itself – John Jantsch

the referral engineMarketing expert John Jantsch offers practical techniques for harnessing the power of referrals to ensure a steady flow of new customers. Keep those customers happy, and they will refer your business to even more customers. Some of Jantsch’s strategies include:

-Talk with your customers, not at them. Thanks to social networking sites, companies of any size have the opportunity to engage with their customers on their home turf as never before-but the key is listening.

-The sales team is the most important part of your marketing team. Salespeople are the company’s main link to customers, who are the main source of referrals. Getting them on board with your referral strategy is critical.

-Educate your customers. Referrals are only helpful if they’re given to the right people. Educate your customers about whom they should be talking to.

The secret to generating referrals lies in understanding the “Customer Referral Cycle”-the way customers refer others to your company who, in turn, generate even more referrals. Businesses can ensure a healthy referral cycle by moving customers and prospects along the path of Know, Like, Trust, Try, Buy, Repeat, and Refer. If everyone in an organization keeps this sequence in mind, Jantsch argues, your business will generate referrals like a well-oiled machine.


Good Day. :)

Thursday, April 7, 2011

Snoozing And Losing: A Blockbuster Failure



I’d be lying if I said that I haven’t taken some delight in watching the complete and utter collapse of Blockbuster.

You see, back when I was a child, our community had a couple of thriving local video stores that were the source of pretty much endless enjoyment for me. Then Blockbuster came along. By then, the company was already a mega-chain of blue and gold awnings that decorated much of the country. They had inventory that simply could not be matched. Unsurprisingly, they crushed the local video stores.

This happened all over the country for years. Goliath didn’t just beat David, he obliterated him simply by showing up — and then danced on his grave while entertaining his children.

You’d think the sheer momentum of such a behemoth would make them unbeatable. And yet, here we are. Earlier today came word that Dish Network was buying Blockbuster’s assets out of bankruptcy court for around $230 million — in cash. This is the same company that Viacom once paid $8.4 billion for (and later spun them off in their own multi-billion dollar IPO). The fall from grace is almost unbelievable.

But it’s actually not if you’ve been following Blockbuster over the past several years. And their tale could end up being a great cautionary one for today’s current crop of giants. And more importantly, it might serve as a point of inspiration for startups going up against a seemingly unbeatable giant.

Microsoft, Google, Apple, etc. All of these guys may seem unbeatable. If they’re investing resources into a space, you might as well not even try, right? But that’s exactly what Reed Hastings did in 1998 when he started Netflix. He was simply a disgruntled Blockbuster customers who was sick of the ridiculous late fees and thought he could do better with a new approach to movie rentals.

Blockbuster undoubtedly laughed at Netflix at the time. In fact, two years later, Blockbuster could have bought Netflix for just $50 million — quite literally pocket change for a company that had held a $5 billion IPO the year prior. Blockbuster refused all such offers, as Fast Company’s excellent rundown of the best Blockbuster gaffes reminds us.

Instead, Blockbuster put a huge investment into Enron (their broadband services subsidiary). You can’t make this stuff up.

It wasn’t until 2004 — six years after Netflix launched — that Blockbuster realized it needed to enter the online DVD rental-by-mail space. By then, Netflix was already turning a profit and Redbox had just launched. Blockbuster was already dead — they just didn’t realize it yet.

It’s such a great example of a company resting on its laurels and getting blindsided. But it’s hardly even fair to call it a “blindsiding”. Blockbuster probably could have done dozens of things to counter the rise of Netflix in that initial six year space. They were either simply too arrogant, too slow, too stupid, or all of the above to make a move.

That’s why it’s impressive that Google is making such big changes to the company right now, when they’re arguably at the peak of their power. Their not resting on their laurels. Hundreds of challengers are gunning for them in a number of areas, and the co-founders apparently saw the company slipping a bit — as did some of the rest of us — and decided to proactively make some bold moves, all of which we haven’t likely seen yet.

That’s pretty much the opposite of Blockbuster towards the end of their run. You had a CEO defiantly declaring that Netflix was no real threat. The best quote: ”I’ve been frankly confused by this fascination that everybody has with Netflix …Netflix doesn’t really have or do anything that we can’t or don’t already do ourselves.”

This was a guy, Jim Keyes, who had just attempted to take over Circuit City, thinking that would solve Blockbuster’s problems — more retail stores. A few months later, Circuit City went belly up. The fact that Blockbuster didn’t end up buying them probably saved them from the same fate for the remaining two years of life.

Later, Blockbuster’s head of digital strategy had another money quote in a sit-down with Fast Company. “We’re strategically better positioned than almost anybody out there. Never in my wildest dreams would I have aimed this high,” he said indicating that they could still beat Netflix.

The famed former Iraqi Information Minister couldn’t say this stuff with a straight face.

So if you’re out there working on a startup in a space owned by a giant, just remember that nothing lasts forever. Even the biggest companies eventually grow complacent and get taken down. There are angles and new ideas all over the place that they simply cannot (or will not) see around their egos and wads of cash.

They will snooze and they will lose. Every night used to be a great night to make it a Blockbuster night.



Good Day. :)