Time Lag

Business and nature have a great deal in common. The most pertinent being the law of reaping what you sow. The catch with reap and sow, is that there’s always a time lag. The lag varies depending on the venture, just as it does depending on the crop:

seedling

 

Vegetables               

 2 to 3 months
Grains & wheat           1 year
Fruit                             3 to 4 years (min)
Olive plantation           10 years
Pine plantation           15+ years

The size of the yield will also vary depending on the crop and investment. Some plantations only ever yield once. Some can yield for 500 years (olives)

The fact is, as entrepreneurs all we have are seeds. So, time lag is unavoidable. When we’re planning for our start up we need realistic expectations for the harvest. It’s just not the same as investing in property, securities or even an existing business. We find fertile ground, plant our seeds, work hard and cross our fingers.

Chances are we may not reap at all. We could fail on our first crop. Maybe they’ll be adverse weather conditions, or we’ll simply make mistakes nurturing our plantation, due to inexperience.

One thing for sure, the more crops we sow, the greater our chance of yield.

Product vs. Service

Which is better for your start up? I say service, qualified by the fact that I have just been involved in a product launch. The main advantage with a service is that every customer experience is new production run. You can change the delivery – instantly.  Not so if we have just produced 10,000 widgets. We must sell first, then adapt and improve. Services have the following advantages:

This is not to say products don’t have advantages. They are just more difficult to launch. Of course, both products and services can be successful. But for our first start up foray, we should try to make it as easy as possible.

Leadership

Leadership: Here’s the Start Up Blog definition:

Being prepared to do anything that you ask of your team. Being inspiring enough that you team knows and believes this.

Advertising in 2007

When we don’t have to think about how to promote a new start up that’s when we have it – a model that can work. If it seems so simple it will promote and spread itself, that’s when we could have a remarkable product.

 

All too often start ups think advertising will drive them into the audiences’ consciousness. If you have to convince me with paid for advertising, chances are you’re not very remarkable. Distribution and digital word of mouth are far more important.

 

Once upon a time we had to rely on advertising. It was a trusted source because our means of gaining information, on things, products, services, and politics was limited. The advertisement really could inform.

 

In a world of low trust and digitally connected people, do we really need advertising anymore?

Stressed?

Here’s a new product which demands eyeball time. 1-bil

 

A stress remedy in an everyday format.

It’s everything an energy drink isn’t. It’s the opposite in fact.

Further inspection will reveal:

A single minded proposition (100mls – not about hydration just the remedy), first to market, wildcard ingredient (jujube), targeted yet limited distribution (only available on the net & they deliver right to your cubicle) and many other startup strategies espoused on this blog.

www.1-bil.com

With no lack of stress in the world there seems to be a lot of potential in this launch. 

Maybe there are overseas distribution opportunities for entrepreneurs?

The revolution will not be televised

TOP 10 BRANDS NEVER TO ADVERTISE ON TV

Venture capitalists (and our employers) will have us believe we need lots of advertising support to launch (start). Here’s a list of contrarian brands:

1. Google

2. Youtube

3. Starbucks

4. Amazon

5. Ebay

6. Quiksilver

7. My space

8. Bebo

9. Second Life

10. Krispy Kreme

Some lessons here. What attributes do they all have in common?

Trial

We should use these words selling our start up to a first time customer:

‘Let’s do a trial’ 

It might be a small order, even one box. 

It’s a great fear remover. In their mind they’re not really buying it. In reality, nothing is different, except their risk perception is lowered. We’re just confirming that nothing is fixed and it’s Ok to try something new.