Your worst nightmare

From a competitive viewpoint, imagine for a moment that our worst business nightmare came true.

Maybe Google decides to enter our market space. Or the Coca Cola Company launched a beverage with the same consumer benefit we’ve been bootstrapping. Or large company X decided to compete against “us” head on.

nuclear-explosion

Well – you’d be surprised how that feels. How it makes us react, and how it very quickly changes our perspective on what is the most important element in ‘winning’. In competing effectively for our share of wallet.

All of a sudden many of the projects we are investing our time on seem far less important than they were yesterday. Maybe that front page redesign can wait, maybe the shiny new web 2.0 buttons are a little less important. Maybe our packaging will do for now and quite possibly every project we have on the agenda, excluding customer ‘centric projects’ can be put on hold.

Here’s an exercise worth doing with your team. Act as if. Act as if it has just happened. Have an ‘emergency session’ with your team on how you’d react if a more well resourced, financed and well known competitor came to play. Build your battle plan. Once your battle plan is drawn up – throw out your current business plan and work on that instead. Because they are coming, especially if your startup is in a fertile consumer territory.

After the intital fear, most entrepreneurs just get inspired, get angry and get on with it. A good scare never hurt anyone.

Steve – founder rentoid.com

Belief – from ‘Tribes’

I took this quote from Seth Godins latest micro book Tribes:

“Do you beleive in what you do? Every day? It turns out that belief happens to be a brilliant strategy”

This resonates with me because it will motivate us to find solutions that ‘non believers’ will be too inept, apathetic or bored to uncover.

Entrepreneurs ought launch something they beleive in conceptually, not just financially.

Business relationships & startups

Entrepreneurs must build all types of relationships.

  • Relationships with our suppliers and the value chain
  • Relationships with our buyers & resellers
  • Relationships with our staff and business partners / investors
  • Relationships with our audience & evangelists

In fact, when we are small have little or no revenue, the only thing we can do is have conversations and build relationships. These will lead to action and revenue. While having dinner with a colleague the other night, John Colbert of Corporate Edge training he gave me his view on relationships.

He said:

There are two important factors in relationships – frequency & proximity.

How frequently are we engaging the other person? Where frequency, is any type of conversation, communication or interaction.

And what is our proximity to this person? Where proximity pertains to the physical closeness and real world interactions we have together. Do we meet in person? Are we getting to know each other without the use of technology? Simply meeting in the same location?

The more of the above two things we have the stronger our relationships come. If we for a moment think of who we have strong relationships with, we’ll see we have both Frequency and Proximity.


The reality is humans want to deal with people they like, trust and know. This is what relationships build.

So if one of our important business relationships (those listed above) is flagging, maybe we should have more frequent interactions, get closer or do both.

What about your people?

All our startups, businesses and brands have their people. It’s members, it’s customers. The humans that matter in whatever we do. So how do we connect with them? Not talk to them or worse, at them, but how do we really connect with them?

Here’s what we are doing at rentoid. We are having an coffee session in the CBD of melbourne (our home city) where members can come and grab an espresso and simply chat. If only 1 person turns up, that’s fine by us. Because that one person matters as much as the 250,000 others. In fact to them, they are the only person that matters.

The discussion will be whatever the people want it to be about. Not a contrived focus group. What matters is making a connection with them, being a group of people trying to help each other, breaking down the traditional corporate facade. Not having any gatekeepers.  And quite frankly we can’t wait.

If you’re in Melbourne came and meet the rentoid team for a chat and an espresso on us before work. We can chat about startups, marketing, life and maybe even rentoid. We’ll be at Journal in Flinders lane. All the details are here.

When’s the last time you took time out to hang with your people?

Ahead of their time

Here’s a meme from the Cluetrain Manifesto guys.  It was written some 9 years ago and still rings true. The predictions herein are still evolving today, and yet some corporations still haven’t got it.

Start ups out there; invest 5 minutes with the ideas below, embrace them and you’ll be well ahead of the game.

[slideshare id=7027&doc=cluetrain-28722&w=425]

Game Changing

Sometimes we convince ourselves in the early days of our start up that the fun stuff is most important. Yes it’s seriously important, and it’s partly why we decided to leave the cubicle.

 

But the biggest reason we left cubiclesville was because we wanted to win. We wanted to do something, change something, prove something and achieve success which other corporate plankton couldn’t claim on our behalf.

 

That said, we ought ask ourselves this:

 

Is what we are doing Game Changing?

 

Will what we are spending investing our time on today be the thing that ensures we win the game in our web domain, category or industry?

 

 

Fact: When Youtube launched there was over 450 other video sharing websites. Youtube won video sharing for these reasons:

 

1.      They had the simplest user experience

2.      They had the most videos uploaded

 

That’s it.

 

So – are we investing our day on Game Changing activities, or just passing time?

Reliability

4.17pm – Get email from friend advising of a small bug on rentoid.com

 

4.17pm – I email my main guy from my tech team to ask him to check it out  

4.21pm –  I receive email from my tech guy saying – bug fixed please check it!   

4.23pm – I email my friend advising that it’s all fixed saying – ‘my guy is quick.’ 

4.25pm – Friend emails me back saying “..Wow… that’s amazing.” Blog worthy!! 

As above.

Never underestimate the power strong relationships within supply chains. Strong relationships build efficient supply chains – not the other way around.