Category: entrepreneurship

Unexpectedly Awesome – BBC

Posted on by Steve Sammartino

Sometimes it’s worth being even just a little bit awesome. We don’t need to change the world, maybe just having a little bit of public fun is enough. The usually conservative BBC did that for me today when I realised the following: The BBC video player has a volume which goes to 11.

It’s what I call unexpectedly awesome. I was delighted. So much that I’ve linked here to little video of Warren Buffett being interviewed. Upon which you can learn something and also pump the volume up to 11.

Startups – do something a little bit awesome.

turn-the-volume-up-to-11

Quirky Fact & Business models

Posted on by Steve Sammartino

It costs the soft drink Industry over $100 million a year for thefts committed involving vending machines.

Actual Coke vending machine robots!

*actual Coke vending robots!

Yet vending machines still exist for one simple reason. This is still a profitable business regardless of the theft.

So often in startup land we here people pointing out the gaps and potential issues in any business model we propose. The fact is no business model is perfect. Every business has gaps and potential issues which will impact profitability. There is always leakage, there is always some evaporation. What we need to focus on is the net result and understand if we can still make a profit regardless of the model imperfections.

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Solid advice – David Clarke, Webjet founder

Posted on by Steve Sammartino

I was lucky enough to be on a judging panel at Melbourne University with David Clarke the CEO of Webjet. A $500m company which he founded, floated and built. After the students gave their business pitches (the subject was Internet Marketing) he gave a simple closing speech with some poignant insights. Here’s a snippet.

“The internet is very seductive and has the capacity to hijack rational thought. There is a real disconnect between the on-line and real world. The trick is to connect the two. And the way that is usually done is through speed and cost advantage.”

Amen.

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Viral marketing & probability

Posted on by Steve Sammartino

I’ve spoke before about the truth about viral marketing, and our probability of viral marketing success. So here’s some number to help us all quantify it with the viral marketing haven that is Youtube.

  • The average youtube video gets watched for 6 seconds.
  • 2 hours of video are uploaded every minute.
  • Almost half the videos on youtube get viewed less than 10 times. (1 in 2.4)
  • Only 0.25% of videos get more than 10,000 views
  • A random sample of 10,000 videos uploaded received the following: 2,226 videos with no views in their first month, 237 with 1 view, 158 with 10 views, and just 23 with 100.
  • Only 1 in 3.1 million videos will get more than 1 million views

Sure we can increase our chances by creating great content, and frequency of posts. But getting a viral hit is like winning the lotto. Which for startups means it’s fine to play, but not to back our future on it.

Guest Post at Pollenizer

Posted on by Steve Sammartino

I was invited to do a guest blog post for the guys from Pollenizer. For the uninitiated Pollenizer is firm which helps startups grow bigger and better. Both through consulting services and also taking long term positions with the companies. It’s really worth a browse around the Pollenizer site.

My post is a very cool one on Startup Lessons from Rock Bands.

AC DC Its a long way to the top if you wanna rock n roll

It also includes a video interview I did with Mick Liubinskas who is one of the smartest start up guys I know (ex Skype & Kazaa) where we cover off Startup School for which there are still some Sydney tickets left for the event.

Click here to check it out.

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Don’t be this person.

Posted on by Steve Sammartino

I had this discussion yesterday. I walked past a hole in the wall cafe. (Tiny cafe which serves take away and stand up coffee in inner city area)

Friend: Wasn’t Joey going to open a business like that?

Me: Yeh, I remember him talking about it before I had even seen one of these in the city.

Friend: What happened to it?

Me: I don’t know, I guess he just didn’t get around to it in the end. Got distracted.

Friend: That’s a shame, looks like a good little business model. What’s he doing now?

Me: He’s in the same job.

Friend: Oh. Ok.

We keep walking …

hole in the wall cafe

Don’t be Joey. It at least try and fail. The old job will be waiting for you if you have to return.

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