Ideas Archives - Page 12 of 30

Why geolocating is huge

Posted on March 22, 2011 by Steve Sammartino

Geo locating is getting big. Real big. Let’s take Four Square as an example; last year over 6 million people checked into over 380 million retail locations. Something is really happening here, yet the doubters are strong with their voices of incredulousness. They can’t understand why anyone cares where they are, or why they’d want to share such personal information publicly, or with their on-line friends. Rather than argue, I thought it was worth posing some of the human reasons why geolocating might be so appealing, an anthropological journey if you like.

The web wants to replicate life – Because it is a form of life. It loves to get physical, real and human… because it’s made by humans for humans.

The 3 ‘human’ reasons why geo-locating will only get bigger are:

1. Who’s here?

People want to see who else is where they are. Are their friends here to? it’s a great way for us to cross the virtual chasm into a physical reality.

2. My life is cool – I’m cool.

See how cool I am being at this particular place. it’s so cool you don’t even know where it is, and here I am…. proven via my smart phone GPS. I’m so cool, I’m teaching you the cool places to be. And I’m showing you how mobile I am and all the cool places to go to – like SXSW.

3. Reward me.

Heck, If I’m going to get a takeaway coffee everyday, I might as well go to the place that gives their Four Square mayor a free espresso on Friday or rewards you after X check ins. You want me to be loyal? You better reward me.

I feel like we are only just starting to see the potential of geo-locating in terms of startup and marketing. It really does feel like the missing link between the virtual and the physical. And for those who are concerned about privacy, like all technology, our choice is a simple one:

Embrace it, or miss out on the benefits.

What FMCG marketers should do

Posted on March 16, 2011September 19, 2018 by Steve Sammartino

Known as the most innovative industry for much of the commercial world from the 1950’s, consumer goods have got caught napping.

Retailers are cutting their lunch through some classic backwards vertical integration – that is, making the products their suppliers make.

So my question is this, why aren’t the global fast moving consumer goods companies taking on the retailers at their own game? What they should do is simple. Develop a consortium of supermarket suppliers and buy a supermarket chain. The missing link in their marketing mix – distribution control. They need to get back some control at the retail level or the long term picture is one of reduced shelf space, and more retailer erosion of their business. Consumer goods companies need to compete with their retailers in the same way the retailers compete with them.

The worlds first disloyalty card

Posted on March 3, 2011 by Steve Sammartino

Prufrock coffee who created the worlds first disloyalty card.

The card to encourages their clients to sample the wares of quality coffee shops around their local region in London. Which is completely counter intuitive to sound business practice.

How does it work?

If a disloyalty member tries all 8 coffees on the above card , it will earn you a free coffee at your next visit to Prufrock Coffee. The interesting part is that it was conceived to keep ‘coffee customers’ out of the four walls of the ever encroaching Starbucks behemoth. The disloyalty card created a community of coffee lovers that could compete the ‘way of an artisan’. Something Starbucks could never do. It might just help keep them out. In this instance the community matters more than the trader. This is the new collaborative world we are in transition towards. A community who vest their interests in each other.

What can your startup do to flip the rules and do what a bigger competitor never could?

Good stuff is not enough

Posted on March 1, 2011 by Steve Sammartino

Making really good stuff is not enough. We’ve got to be good as well. Good people. We’ve got to have a DNA encoded into our business which shows we stand for something that is wider than what we sell. I’m not talking about any of that Corporate Social Responsibility crap, or even triple bottom line reporting. I’m talking about caring enough to leave good things behind us in our trail. For the things we touch to be the same or better after we’ve been there. And most of all, we need to make sure our trail is going to be good, before we carve the path that takes us forward.

Winklevoss syndrome

Posted on February 18, 2011 by Steve Sammartino

You may have heard of the Winklevoss Brothers. They’re two of the luckiest people on the planet. They received a reported $65 million in a settlement from Facebook for essentially having an ‘idea stolen’. Latest reports are that they unhappy with the settlement terms because Facebook has recently been valued as high as $50 billion.I’m calling it Winklevoss Syndrome.

Winklevoss Syndrome = the false belief that an idea is ownable and that the real value of a business is strongly linked to the idea. People who suffer from this syndrome believe that they have some kind of ownership rights to something because they thought of it.

Although Mark Zuckerberg may have taken their idea, but he’s the one who built, it, funded it, promoted it, resourced it and expanded it. I’ll go as far as saying that the Winklevoss brothers are delusional if they believe they had anything to do with the success of Facebook. The idea of a social network has nothing to do with the act of building and populating a social network. Ideas in isolation have no value, ideas once executed ‘may’ have value. It’s also worth remembering that every idea that any number of people could or did have, would always be executed very differently. I think the Winklevoss brothers are the luckiest entrepreneurs on the face of the planet. They received a $65 million dollar gift for an idea and some unfinished pieces of code. They got very lucky they ever met Zuckerberg.

Every fresh idea usually has thousands of entrepreneurs around the world toying with it or building it. Simply because they have foundations in common trends, insight and technology evolution. So next time you see your ‘idea’, being brought to life, remind yourself that you didn’t ‘do’ anything about it. And then resist the temptation to suffer from Winklevoss Syndrome. Instead we should go and build something and see how limited the value of the original idea is.

Every-preneur

Posted on February 17, 2011 by Steve Sammartino

Today I tweeted a little thought that we are all becoming entrepreneurs:

and then Jason asked me this:

… and here is what I think.

I think it’s great that we are entering an age where everyone can play. The richness of human life comes from the social fabric and the variety in personality and experience. When people enter a commercial world it’s impossible for their experiences, views and values not to emanate into their business. So the net result is a wider array of rich ideas and systems which can benefit real people rather than demographic aggregates. Smaller cohorts can be nimble and focus on pleasing the few. Some may even end up pleasing the many. The net result of the new low barrier world is a richer place to live in, both socially and economically.

Entropy & business

Posted on January 14, 2011 by Steve Sammartino

The scientifically minded readers of this blog will be more familiar with the law of entropy than the business minded. The law of entropy defined from a physics viewpoint is heavy in maths and description. But from a social perspective the concept of entropy is generally used as a metaphor for chaos, disorder. They way I’d describe it is like this:

Unless we attend to stuff and maintain it, it will naturally fall apart.

We see this every day with old houses and cars. Unless they are attended to frequently, they just fall apart. What we don’t do is take the analogy as deep as we should into the businesses we run. They too require constant attention just to maintain the status quo. To grow, requires extra attention above ‘maintenance levels’. The problem with startups is that we are so focused on gaining initial traction and momentum that we forget about the upkeep. We are so focused on the next win, improvement or iteration, that we forget to check the stuff we’ve already done, built or created. And so it can start to fall apart without us really noticing. In some ways the most important innovation we can make is maintenance.

Lesson: If we don’t maintain what we already have, then the new stuff we introduce will end up being zero sum game.