I happened upon a great quote today from revered Ad Man Leo Burnett which is probably more appropriate for entrepreneurs than advertisers:
“Steep yourself in your subject, work like hell, and above all, love honor and obey your hunches.”
Hunches matter. In startup land we are not in the business of research or satisfying a majority. Rather, we are in the business of sensing a shift and inspiring a minority.
Gus Johnston was walking past his local bakery in the Melbourne suburb of Elsternwick – Franks. It’s a 40 year old local business. He told me about a great little piece of marketing which inspired the title of this blog post.
On the bakery door, hand written was a little sign with the the words Opening Hours. Under it was: 8am until sold out.
It’s nice story which is perfect for what they do. Better hurry.
I was asked to give a list to Tim Reid on a few micro marketing / startup tips for his terrific podcast. I thought they were worth sharing in point form here.
- Project management is the key skill (Outsource weaknesses, be blissfully unaware how to do technical things, manage the value chain.)
- Think micro (Start small, no tiny. think hyper-local, and expand out from there)
- Compound effort (Our labour compounds over time like interest and investments do, social media takes compound effort)
- Speed is better than perfection (perfection is the enemy of success, launch review and iterate constantly)
- Manage for cash flow not profit (Money in and money out are the only 2 financials that matter, we can’t go broke when cash flow positive)
- We’ve got to sell (Selling is a core skill, we have to sell not just to customers but to everyone in our business world, employees & suppliers too, have a sales guru in your team)
- Start now (The right is never going to come, stop waiting for it)