Why we need to stop using the word Job

With every single policy statement of our, and any democratic Government, I can tell you what the proposed objective of every single one of them will be:

Jobs & Growth.

Screen Shot 2017-05-09 at 12.27.31 PM

For me, it is heartbreaking to hear this mantra still being chanted as some kind of plan for the future, especially given the industrial age is officially over. We don’t need to provide people with jobs – we need to provide them with the tools and skills of adaptation, because increasingly, jobs will have shorter and shorter life cycles.

The era of lifelong jobs, lifelong careers or life long anything is over. Quite frankly, jobs are not the solution. We are very quickly evolving into an economy driven by independent actors, attracting revenue from multiple sources. In the future, everyone will become ‘Projecteers’. We are already starting to shift inside and outside of companies, providing skills for projects. The best way to de-risk anything financial is to have many sources of revenue – not just one, which is what a job is. Having a job is the riskiest financial strategy anyone can have. Anyone who wants to thrive in the new economy needs to be totally self-reliant.

The good news? It has never been a better time in history to get on the path to independence. To learn and to reinvent ourselves. The first thing we need to do in every industrialised economy is remove the word ‘job’ from our collective parlance. This word is responsible for limiting the possibilities of millions of people – it steals from the breadth of possibility. It says: be subservient to someone else. It says:

  • Let someone else provide opportunities for you.
  • Let someone else decide what you’re worth.
  • Let someone else decide if you’re qualified.
  • Let someone else decide if they need you.
  • Let someone else decide when to replace you with Artificial Intelligence.

The list is endless, but the point is that it outsources responsibility to an economic machine we have no control over. Wouldn’t it be refreshing if the government came out and said, “We are going to make it easier than ever to start a business”?

A better approach to life is to think in terms of Revenue – how much do I need, where can I get it and what value can I create for others so I can get my fair share. Everyone’s economic future is not based on the job they have, but the revenue they create for themselves. And the government…well, they just want tax payers and centralised simplicity where they give large corporations what they want so long as they provide jobs for tax payers. We all deserve more than that. We deserve an independent future where the government provides resources for people to invent new industries and revenue streams for a modern economy. We deserve new systems that enable nimble skill providers to adapt to what the economy and businesses need. Jobs are something people had when Henry Ford ran the show, and the last time I looked… Ford wasn’t a company anyone revered.

If you like this kind of thinking about the future, then I’d highly recommend reading my new book – The Lessons School Forgot. You can download the first chapter here free. It’s out in June and is a manifesto on how to financially future-proof your life in a rapidly changing world.

You'll never believe what these guys are really selling!

The other day I was in the airport where a new startup was sampling itself. It’s an app to jump the coffee queue. I’m always stoked to see people having a go at a new business and got them to give me their pitch. It’s always good for entrepreneurs to practice unprepared. Then I realised I got a coffee but didn’t use their service. And here’s why:

Part of what I’m buying is the wait.

Yep, some of the people getting their morning java actually enjoy the wait. The wait is what is being sold. Sometimes it’s the conversation with the Barrista, and sometimes it’s the walk to the cafe. I guess we can throw the coffee on that list too.

Morning coffee

This is why you’ve seen a hundred other apps for people to jump coffee queue and they never quite work. I’m also wondering what happens if the app is successful?  Wont all those who used it end up ‘in a queue again’ via a digital deli ticketing system? The problem probably isn’t the arrival time, but the output bottleneck in peak demand times.

It;s another reminder that an effective business model isn’t just about demand – it’s very often about why we buy, and the model and the friction… and how money can be made through the transaction process, not just with the transaction itself.  As for the entrepreneurs, they did the right thing by having a crack. They could prove me wrong and I hope they do. Their worse case scenario is that they learn plenty and pivot closer to the success they deserve.

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The tradeoff Startup founders must never forget

Them:

So, we’ve just nailed our MVP and we are getting some real traction.  Next we’re going to raise capital, get some funding. We’ll probably go to the Valley as it’s easier to raise there. The valuations are more generous. We’re super pumped, finally getting our startup off the ground.

Me:

I thought you were an entrepreneur? 

Them:

What are you talking about? Of course I am – didn’t you hear what I just said?

Me:

Yes, but here is what I heard….  That you’ve finally got something people want, you’re probably solving a real problem and you’re on your path creating value for others, and eventually yourself. But in this process, you’ve got caught up in pop culture. You’ve forgotten that a big part entrepreneurship is independence – creating your own path. So, you’re off to raise money and get caught up in someone else’s objective – that of the venture capitalist. The same group of people who’d rather see you fail trying to build a billion dollar company,  than help you build a $10 million company. Their business model you see, is based on the former, not the latter. 

Venture Capital - the downside

If there is anything startup founders should remember it is why it’s worth doing at all. Startups are hard, and rarely a path to riches. Entrepreneurship is more about exploration and freedom than money. If you want to be rich, there’s more chance of that happening being an employee of a company that already has a billion dollar valuation.

In both cases: a funded startup or being employee – you’ll compromise control. In that case you may as well have the certainty of money that goes with stock options and employment. If you want to be answerable to anyone other than your customers that is.

It’s a rare event indeed when the deal terms favour the founder. Real entrepreneurs find ways to make money independently with that anti-modern thing called a profit. For every example of an entrepreneur succeeding with funding, there are 99+ that do not. It’s a bet I’d never take unless the VC came knocking on my door and / or I could maintain total control and independence.

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What do Google and George have in common?

Famed venture capitalist Marc Andreessen is known for doing lots of things; he invented the first graphical web interface, he said software is eating the world, and his motto is that he has ‘strong opinions loosely held’ – which I dig. We all ought to be able to change our mind when new information arrives.

And let’s face it, new information is arriving daily with new possibilities to match. Take this recent quote from Andreessen:

“One guy can now build a self driving car. We recently backed a founder who had built his own self driving car. Literally, one guy can now build a self driving car. Ten years ago this was like a DARPA Funded Grand Challenge Research Project. Five years ago this was a team of a thousand at Google. And now, it’s George. It’s one of those things (AI & machine learning) that looks like it’s about to tip, there is one George today, and a thousand Georges tomorrow.”

George & his self driving car

He was referring to George Hotz above.

The insight for entrepreneurs is that the pace of change is faster than a linear human mind can cope with. That idea or technology that you think is just a little too early probably isn’t. The most important thing in society, economics, business and Government today is the law of accelerating returns. And this is just one example of it in action.

If you you’d like to learn more, there is a rare opportunity to attend Singularity University in the Souther Hemisphere. An SU summit is being held in Christchurch this November. I’ll be there absorbing everything I can – why not join me? More details are here – I imagine it will sell out quick given the 2 year plus waiting in the Silicon Valley Campus.

A simple Amazon strategy every business can implement

Jeff Bezos Genius

The future is a pesky little thing to predict. Much of it will surprise us no matter how well versed we are in emerging technology. A lot will change 10 years from now in ways we just couldn’t imagine. But, some things won’t change, and it is easy to know what these things are. So much so that this is a key question Amazon leader Jeff Bezos bases large parts of business strategy on:

“What’s not going to change in the next 10 years?…. You can build a business strategy around the things that are stable in time…. In our retail business, we know that our customers want low prices, and I know that’s going to be true 10 years from now. They want fast delivery; they want a vast selection. It’s impossible to imagine a future 10 years from now where a customer comes up and says; ‘Jeff, I love Amazon; I just wish the prices were a little higher’ [or] ‘I love Amazon; I just wish you’d deliver a little more slowly.’ Impossible.”

And it is clear to see that while they use technology to make these things possible, the future is predictable and something Amazon or any business can build their strategy and infrastructure around. Jeff said this 4 years ago at the Amazon Web Services forum. With 40% of that 10 year window expired, and I’d say it’s all still true. Seems he has predicted the future, just by flipping the question.

So the only question remaining for your business or startup is this: What things can you be working on that just won’t change?

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This will change your perception of brand loyalty forever

Loyal dog

Brand loyalty is a strange thing, it seems like it is a bit back to front to me. Powerful and large corporations expect you to be loyal to them. But ‘we’ are the one’s who feed them with our money. If a dog should be loyal to it’s owner – those that feed it – then surely brands should be loyal to us?

Here’s another error companies make when it comes to loyalty. They are loyal to marketing methods, social forums and their infrastructure. If there is anything a brand should have total disloyalty to it’s the methods in which they go to market. They are just tools. And tools should always be replaced when a better method arrives. Especially when the objective is serving others.

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How to Start Small to Grow a #MASSIVE Company

One of my totally favourite projects is working with Pollenizer getting startups off the ground and doing corporate venturing. The biggest challenge many entrepreneurs and pretty much every big company trying to get internal startups going is understanding why small is beautiful. Unless the initial business is small enough to test, weird enough to get attention, and easy enough to try in an analogue fashion, then we’ll never get off the ground. We need to think #antiMASSIVE first.

Here’s some of my thoughts on the topic.

 

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