Archive for category Trends & Ideas

Get creative to get the introduction

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Networking is a crucial part to entrepreneurship.  It is often a “who you know” business and industry (if you can call ‘entrepreneurship’ an industry…).   Getting creative may be needed, especially if you are attempting to jump the proverbial ‘line’, striving to meet a much bigger player than yourself.  The below video shares how one gentleman landed a job by getting creative. Now most of you are likely not looking to land a job but the concept is still an interesting and creative way to meet people your looking to connect with!  Check it out:

Getting creative doesn’t always pay off and if you are too creative, it could backfire, but hey, just another risk of the game! read the article from Bnet here.

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Passion is more important than Genius

Malcolm Gladwell shares his thoughts on the importance of passion and attitude in regard to business success.  Do something you are passionate about!!!

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Innovators: Solar Power competes with fossil fuels?!

eSolar, an Idealab company founded by Bill Gross, is working to introduce and expand its solar-thermal energy solution around the world.  One question I have is what the land-usage efficiency is. That is, how much power is produced per square foot of land it takes up.  This may not be a huge factor as they could simply be built in inhospitable desert climates where land and space is not nearly the concern of local placement.  Just a thought though… if anyone knows more about it, comment and fill me in!

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Myth: Entrepreneurs like risk… Fact: NO!!

A common thought used when describing the entrepreneurial life is “entrepreneurs like to take risks”.  Well, my friend, the fact is that NO ONE LIKES RISK.  Why would they? The reason some are willing to deal with risk is in hopes of greater reward.  It is the reward they like, not the risk.  Now, the risk may bring a level of exhilaration but ultimately that energy is experienced upon success, not failure.

So how could they trade security for risk, isn’t that gambling? The said truth is if you are asking this question, you are likely blind to the fact that they aren’t.  In fact, entrepreneurs often have more security than a regular wage earner.  I mean, think about it. If the company you work for is struggling, who gets fired first, you or the owner? Now don’t mix this up with any publicly traded behemoth who has a board and such with high CEO turnover. The CEO isn’t the owner anyway, its the shareholder.  The owner holds the cards!! They will always be the last to go, obviously.  Typically, the choice for entrepreneurship is simply a choice or exchange of differing risks, not risk v. security.  This doesn’t mean everyone should start their own gig, many shouldn’t nor have the desire to.  It is, however, a reminder that risk exists even within the big company.

Everyone has job security when times are hot, and that is when no one needs it.  Its when struggle comes that we rely on our security and this is exactly when the behemoth has to cut back (as does the small guy).  When you actually need the security is when you lose it! Employee or employer, we all need to heed that point.  As Daniel Isenberg over at HBR said in a recent article discussing a list of questions you should ask yourself:

“I like to take risks” is not on the list. People don’t choose to be entrepreneurs by opting for a riskier lifestyle. What they do, instead, is reframe the salary vs. entrepreneur choice as between two different sets of risk: the things they don’t like about having a steady job — such as the risk of boredom, working for a bad boss, lack of autonomy, lack of control over your fate, and getting laid off — and the things they fear about being an entrepreneur — possible failure, financial uncertainty, shame or embarrassment, and lost investment. In the end, people who are meant to be entrepreneurs believe that their own abilities (e.g. leadership, resourcefulness, pluck, hard work) or assets (e.g. money, intellectual property, information, access to customers) significantly mitigate the risks of entrepreneurship. Risk is ultimately a personal assessment: what is risky for me is not risky for you.

So… do you want to be an entrepreneur? How do the risks line up for you?

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Tone down the PowerPoint fetish please…

Well, many presenters and pitchers (of ideas that is) have a love affair with keynote or powerpoint.  Sometimes, though, this fetish leaves our presentations wanting and adds pointless “clutter” to the audience experience in the presentation.  One master of the presentation is good ol’ Steve Jobs.  His use of keynote is simple, clean, and powerful, often by leaving nothing but a blank slide on th screen.  That’s right, sometimes its just a nice clean background and thats all.  Other times, its one phrase or a number that he then explains.  It is not meant to compensate but to accentuate.  It is not meant to distract but emphasize and focus.  He often uses pictures and no text at all… Check out the iPad intro:

Sean Silverthorne made the following points regarding the application of Steve Jobs style into our own presentations (get his article here):

  1. Does each slide convey just one idea?
  2. Are images sometimes used instead of words to convey those ideas?
  3. Do the slides make use of empty space?
  4. Does the deck sometimes disappear, leaving nothing between you and your audience?
  5. Have you minimized bullet lists, distracting effects and eye charts?

Think about these, the next time you are creating your big pitch.  You may use powerpoint but don’t abuse powerpoint…

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I thought Twitter didn’t like revenue?

Well, the news has been out for a few weeks and twitter has unveiled its plan to actually make some money!! Wierd, I was starting to wonder if Twitter didn’t like the taste of revenue or something. They obviously have a powerful platform and from the initial release, my immediate impression is that the route they are taking has potential and is a good one. It isn’t particularly innovative but it doesn’t have to be as long as it can maintain its service quality and experience.

They are calling it Promoted Tweets and are working with some major industry players to unveil it. Reuters described it as follows:

As Twitter broadens the program to include more advertisers, spokesman Sean Garret said, keywords on Twitter’s search engine will be opened to competitive bidding by advertisers, similar to the way that Google’s lucrative paid search advertising program operates.

Twitter also said on its blog Tuesday that the company planned to eventually serve Promoted Tweets ads beyond its search feature, offering the ads directly within users’ message streams.

I’d like to see twitter turn into a powerhouse but the snails pace has been discouraging.  Maybe I’m impatient (which I can be, coming from a bootstrapper’s approach myself).

I still think they ought to explore freemium more closely, offering paid accounts with more control, analytics, features, etc.  It could easily be done without degrading the experience, in my opinion…

Welcome to actual business, Twitter!!

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Key advantages of freemium

This video from bNet describes some key advantages of moving with a freemium model.  Keep this in mind when developing your business model as this has completely made some businesses and allowed access to markets otherwise impossible to enter.

It is also important to understand the “seedy underbelly” of freemium. With the open, free model, you will also see an increase in abuse of your service. Check out this video on abuse of freemium:

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The Scope of Innovation: a pivotal movement for survival and prosperity

As any regular reader will know, two of my most popular topics or themes are entrepreneurship and congruent with that, innovation.  Well, I want to share a theory of mine regarding innovation.  I don’t know if “theory” is the right word but it works for me.  It is a concept that I think a fair amount about.  It is the solution to many of our society’s and planet’s problems. And, guess what… it includes innovation!!

Common discussions in today’s society include efficiency, uses of limited resources, care of the environment, and related topics.  This are concerning and critical issues but one piece of the discussion that is often missing is the opportunities that lie ahead.  This includes innovation, technology, and more.  Many of the discussions are in a closed box as though we will never innovate or improve again and are left to find improved efficiency with what we have.  The result is always lackluster performance with incremental influence and essentially no solution to today’s issues.  Take examples such as cap & trade.  Scientific evidence suggests little, if any, measurable improvement by such enacted measures.  So why do we, as a society, interest ourselves in the wasted resources (in this case, increased economic costs), for little result? Again, the discussion and solution are discovered within the closed box and the supporting groups and individuals feel doing something is better than nothing, even without favorable result.  So what happens when we up top the box? Welcome to the key of societal development.

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Steps to kick off the year right!

The new year is upon us!  Thousands of bloggers are discussing new year’s resolutions and its a great time to set up goals, renew efforts and get back into the swing of things.  Renewal is powerful and what a better time than following a long holiday vacation, the rejuvenation there from, and a new tax year.  Which brings me to my point today!  What are some areas to remember in business while making your resolutions and starting out in 2010?  Lets list them out:

  • Get organized! – possibly a more common goal is to get organized.  The opportunity to re-look at your systems and methods of tracking the stuff that needs to get done is one that should not be missed.  Look at the tools you use, the concepts and tenets you follow (i.e. GTD, 7 Habits, etc.) and the schedule (work, home, balance) you keep.  We will be unveiling a new system and tool to help with this over the next few months called Akomplish.  I’m excited for what it will do and the flexibility it will offer for you to live and work the way YOU want to.
  • re-address your tax planning – With 2009 said and done, it is a great time to look at how you do taxes, bookkeeping, and financial accountability and tracking.  It will be much easier to start now than shift gears mid-year and cause confusion and chaos for yourself and your accountants.  Look at the past year and see what expenses could have been written off but were lost in the minutiae of living.  I know, I know, accounting sucks and is no fun (unless you actually ARE an accountant, then it might be okay to you although you also may not like it!).  The advantages of doing it right the first time and from the beginning will pay off, no doubt about it.
  • 2009 in review – Take a look at what was done and not done in 2009.  What could you have done better?  What should you have done but didn’t? What bold moves do you wish you’d taken?  Well, lets do them this year!! How can this information and introspection be incorporated into your new year’s resolutions?
  • Life Balance – Well, you work too much or too little.  You probably don’t have any hobbies but “family” or something cliche like that.  By the way, family is not a ‘hobby’, although important to you.  What do you do with them?  What can you do to unwind and breakup the life of work?  Having hobbies will prove invaluable as stress mounts from other money-generating areas of life.  For myself, I find this solace in photography, painting, mountain biking, and the like.  In fact, my wife would contend that I have too many hobbies!  Either way, having a good way to be productive without ‘work’ or pay (this does NOT include watching TV or wasting time) is an important part of balance.  Now, maybe you are lucky enough to do what you love for a living! Yay, hooray! I don’t care… find another hobby as well.  That doesn’t mean you quit loving work but you don’t want work to burn you out of loving it anymore.  For that reason, find a hobby!  Now don’t neglect your family for this hobby, again we are discussing BALANCE.  Maybe share your hobby with them or find some other way to balance.

Well, there you go.  Four points to consider with your New Year’s resolutions!!  Any other major points that we all ought to consider?

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Life Gets Busy during the Holidays but You still must Bring Home the Bacon!

holidaysWow, I have been out of town and super busy for the last 2 weeks.  With the Holidays upon us and Thanksgiving just past, I chose to break from the blog for a time and spend it with the ol’ family…(inlaws actually…).  The break was most excellent with some relaxing beach time in southern California (as opposed to the usual Utah cold).  I did do some work here and there but mostly attended family get-t0gethers and other activities.  It cut November effectively in half regarding work!  December will likely pose a similar challenge as we near the end.  This brings up the interesting, and common, annual business cycle seen by many industries.

November/December tend to be quite slow for many aside from retail and a few others.  Not only are we, as consumers, less preoccupied with personal management matters and “boring” stuff, we are also less interested in offering our services!  Its the professional “double-dip” that leaves us with post-holiday cash-flow pains, especially as start-ups.  So what is the secret? How can a start-up or small entrepreneurial venture stay productive and possibly grow during the holidays?  Now, if you are retail or other holiday-friendly businesses, you don’t count. Whatever the strategies employed, I definitely prefer a level of respect for the season.  That is, be respectful of the consumers focus whether it be family, festivity, religion, or otherwise, don’t be the sore thumb phone call during Christmas Eve dinner!

Simply get creative, cater to the slightly modified wants and needs of the individual, and enjoy the season!  What tips or ideas do you have?

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