Barenaked Ladies embrace new world

Here’s an example of an organization who’ve embraced the new world to absolute advantage.

 

Rock band the Barenaked Ladies, achieved a reasonable level of commercial success in the late 1990’s and early 2000’s. A song of theirs you may know is ‘One week’ – you can click here to watch it and jig your memory.

 

Their success enabled them to do what most bands can’t – secure a record deal with the large record label Warner. But in 2003 they sacked them. They thought they could a better job – and they have. They just cut out the middle man and began to have a direct relationship with their passionate fans.

 

Here’s some of the cool stuff they’ve done:

They have a ‘dynamic’ websites & myspace– not static pages

They blog ‘daily’

They include fans in ‘every’ film clip

They built a permission database

They provide ‘free’ downloads of their music

Allow ‘free’ sharing of their music (Youtube / File sharing)

They sell their records direct and collect all revenue

They have ‘band days’ and ‘invite only concerts’

They provide photos of the days events

They run cruiseship holidays for fans

(Yep, 300 of their fans socializing, eating, relaxing with them for a week or so, where they provide the entertainment for them every night)

 

 

The net result is this. Their fans feel like they have a real connection, which they do. Their revenue per album sold is now approx $6.00 to the Barenaked Ladies, versus the previous $1.00 while with Warner. They have pure creative control of their work and don’t have to worry about being dropped by their record label.

 

Their site link is here: http://www.bnlmusic.com/default2.asp

 

Kudos BNL.

Mass customization

Here’s a few categories or Industries which have been revolutionized by Mass Customization:

 

T-shirts (Threadless & Neighborhoodies)

TV (Youtube & Joost)

Handbags (Elemental Threads)

Journalism (Blogs & podcasting)

Newspapers (RSS)

Job Seeking (Aggregation & feeds)

Book publishing (Lulu)

Tourism (the web in general)

Luxury goods (fractional ownership)

Music (itunes)

Networking (facebook & social apps)

 

In fact there’s just too many to mention.

 

But the real question is this: If it hasn’t hit your industry yet, why not and what are you doing about it?

One piece of advice

If you could offer entrepreneurs one piece of advice what would it be?

 

Start up blog’s is this:   Don’t die wondering.

 

I’m sure all 20,000 monthly startup blog readers want to hear yours. Add them to the comments or email them to me and I’ll post them on an upcoming blog entry with your name / blog beside it.

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]

Don’t be like Georgie

English football savant George Best was once asked what happened to all the money he earned as the worlds greatest player. In classic Georgie style he responded:

 

“I spent a lot of my money on booze, birds and fast cars, the rest I just squandered.”

 

         

 

 

If we’re in an early phase start up or we’ve just made bank, the principles don’t change. If you can control your spending, you can control your business and your life. It’s easy to justify expenditure at either end of the business spectrum. A start up can convince themselves they’re investing for growth. Likewise, a booming business with big profits can fly first class and hire private yachts to impress clients themselves.

 

Quite often over spending is due to a real lack of creativity and an inflated ego.

 

Startup blog advice is this: Cash flow is vital and by being creative we can ultimately conserve cash flow, yet generate similar results.

Great Quote

“Being busy is a form of laziness – lazy thinking and indiscriminate action.”

 

Timothy Ferriss

 

Startup blog agrees, and adds – if we blame our employers for the above, there’s no locks on the door…. and we’re still being lazy.

the old school

I love lots of stuff from the old school, including but not limited to:

 

Old school break dancing

Old school pinball machines & arcade games (think Galaga)

Old school computers (think Commodore 64)

Old school rap music (think Grand Master Mel)

Old school Airline service & the general airport experience

Old school hamburgers from the local greasy Joe’s

Old school cartoons

Old school slow food & home cooking

Old school architecture and buildings

 

 

The truth is the new versions of these are often better, more advanced, cheaper and more useful. (some not)

 

The reason we love old school stuff more than the new versions is this:

The original version was ground breaking. And ground breaking is exciting. So it builds an emotional connection.

 

Startups out there – become the old school 20 years from now, by being ground breaking today.