Fear of knowledge

Probably the worst phobia entrepreneurs can suffer from is ‘fear of knowledge’

Epistemophobia, as it is clinically known sounds so ridiculous it’s hard to believe it exists. It does, and we all suffer from it to varying degrees. Sometimes we simply don’t want to change our world view.

As entrepreneurs we quickly learn that introducing something new to the world requires our audience to overcome their ‘fear of knowledge’. When people are comfortable in what they believe, they’d rather not know there’s a better way to do things, or a more logical thought pattern to embrace. Think about the PC and the years it took for it to penetrate households.  

Like consumers, we entreopreneurs don’t like to acquire knowledge that contradicts our goals, methods or ambitions either. The trick is knowing whose turn it is to ignore the fear of knowledge; ours or the consumers.

Marketing Purity

When I run my own company I won’t cut prices

When I run my own company I won’t make strategic changes

When I run my own company I won’t be legally conservative

When I run my own company I won’t be stingy with brand investment

When I run my own company I won’t let finance overtake creativity

When I run my own company I will do it my way

When I run my own company I’ll realize that compromise is a fact of entrepreneurship.

Newton’s Laws & marketing 2.0

Physics and business once more…. Markets and motion.

Law 2: Force equals mass multiplied by acceleration The rate of change of momentum of a body is proportional to the resultant force acting body and is in the same direction. 

Start up blog interpretation; Your brand or start up will only grow by the force of the energy that you and your evangelists (passionate users / early adopters) put behind it.

If we want our start up to grow, that growth rate (or decline) will be directly proportional to the effort we put into it.

Conversely a competitor pushing us backwards with more force has the same impact.

A start up won’t just grow. Organic growth is a hoax. Organic growth is your customers or passionate users pushing it for you. In this case we’re lucky, we’ve managed to create an idea worth spreading…But it’s very difficult to do.

In the end, the growth is always our responsibility. We need to be the force acting and pushing.

Faith Popcorn – Trend predictions

popcorn.jpgpopcorn.jpgThat’s the actual name of a person. Faith Popcorn, although she was born as Faith popcorn.jpgpopcorn.jpgPlotkin….

Faith has a bit of a reputation as a Nostradamus of marketing. Given her uber cool book“The dictionary of the future” from 2001 is now much like the story of the present, she just might have some insights for us budding entrepreneurs.

Swiped directly from trendhunter.com here are Faith’s latest predictions.

Identity Flux Technology has enabled us to experiment with different personalities, leading to a much more fluid sense of who we are. Having tasted the nectar of virtual liberation, we’re beginning to reject the singularly defined roles we’re expected to play in society.

The Future: Gender-neutrality goes mainstream. People list skills on their business cards rather than title, and dress up in various costumes depending on who they feel like being that day.

Liquid Brands Today’s consumers are capricious and non-committal. Brands will have to become more liquid to keep up with their constantly moving targets.

The Future: Chameleon-like brands focus less on communicating a static message and more on being the right thing for the right persona at the right time. Constantly morphing retailers carry products until they sell out and never restock.

Virtual Immortality Consumers globally are creating fully fleshed out existences in the virtual world-dressing up their avatars, making friends, having affairs and buying property for their pixilated alter-egos. And now that people have multiple lives, who says you can’t live forever?

The Future:  While some let their avatars drift away to online purgatory, many more leave behind specific instructions on how their virtual selves should proceed. Services offering avatar surrogates flourish, and we bequeath avatars to friends and family in our wills.  

EnvironMENTAL Movement Like the movement to combat environmental pollution, the next consumer-led reaction will be against the mental pollution caused by marketers. With every corner of the world both real and virtual becoming plastered with marketing messages, bombarded consumers are starting to say they’ve had enough. The current attack against marketing to kids is just the beginning.

The Future:  Companies are expected to reduce the amount of damage they are doing to our minds. Savvy companies sponsor marketing-free white spaces in lieu of polluting the environment with models and logos.

Product PLACEment  In the globally networked age, consumers are much more concerned about the consequences of consumption. Is my garbage poisoning someone in a developing country? How much fuel was burned in order to get these strawberries to my local supermarket? The Future:  Enviro-biographies are attached to just about everything, letting consumers know the entire life story of a product: where the materials were harvested, where it was constructed, how far it traveled, and where it ended up after being thrown away or recycled.  Brand-Aides The government has let us down when it comes to providing the social services we had once expected from it. Brands are stepping in to take over where the government left off. Companies are already finding there’s profit to be made from providing affordable healthcare to the masses.

The Future: Socially responsible brands make a buck while providing desperately needed services. Communities are revived by Target daycare, Starbucks learning centers, and Avis transportation services for the elderly.

Moral Status Anxiety In today’s increasingly philanthropic climate, expect conspicuous self- indulgence to go straight to the social guillotine. The globally conscious consumer regards altruistic activities as a necessary part of self- improvement.

The Future: A person’s net worth is no longer measured by dollars earned, but by improvements made. Families compete with each other on how many people they fed while on vacation, and the most envied house on the block is not the biggest, but the most sustainable.

Oldies but Goodies

Our culture is suffering from an experience deficit. With the availability of online knowledge, we’re claiming expertise based only on secondary experience. Now that everyone’s a web-educated know-it-all, we’re secretly longing for authority figures to guide and assure us with indispensable nuggets of wisdom that could only come from having actually accumulated life experience.

The Future: Respect for elders makes a comeback in the form of Ask Your Grandma hotlines and the proliferation of online video clips by seniors showing us how to tie knots and concoct home remedies.

How can your start up get ahead of the curve using these mind jams?

Simple business model

Google ad words:

google-ad-words.gif 

This is why Google shares have quadrupled in 12 months. It has a simple business model. Easy to understand. All parties win.

 

Barriers to entry are low. You can invest as little as $5 a day /  even 10c per click. You only pay for customers who actually go to your site, unlike other advertising (TV, Print et al) which you pay for even if people aren’t looking. Tailored marketing which is far superior to demographic targeting.

 

Find out more here.

 

How simple is your start up business model?

Advertising Frequency

Isn’t it funny how you never notice an advertisement for a car until you are in the market to buy one. They’re always there, we’ve just got selective perception.

When it comes to advertising we need to make a choice between depth and frequency. Unfortunately only companies with the deepest pockets can have both. It’s doubtful this will be our start up.

Advertising frequency is king. No point having a big launch campaign if your prospective new customers aren’t looking on that occasion. For entrepreneurs, the big launch concept is a hoax – It’s unsustainable. We’re far better off being there all the time, in some way, then we don’t have to predict when people will buy.

The good news is we don’t need the superbowl budget of a large conglomerate to have the frequency we need. We don’t need TV either. We can use things like Google ad words, or free stuff like Youtube – The topic of the next blog entry.