Showing posts with label entrepreneure. Show all posts
Showing posts with label entrepreneure. Show all posts

8/25/2008

OnStartup's tip for public PR without help from PR firm

I love the list the is put together from OnStartups, Startup PR: Tips For Getting Publicity Without A PR Firm

Take a look yourself below in the quote.

1. “My philosophy of PR is summed up in six words: be amazing, be everywhere, be real.”

2. First time I’ve ever the heard of the term ceWebrities. clever. With regards to these ceWebrities, “these overnight successes are 10 years in the making.”.

3. “Be the brand…you must be in love with your brand and inspired by your brand’s mission to have any hope of getting press.”

4. “Be everywhere…every single night I would go out and meet folks in the internet industry…while other folks went home to their families, I went out and made a family.”

5. “Your job is to transfer the enthusiasm you feel for your brand to everyone you meet.”

6. “Always pick up the check — always…everyone remembers who picked up the check.

7. “Set a goal of creating deep relationships with a small number of folks as opposed to running around trying to trade business cards with as many folks as possible.”

8. “Be a human being. The best way to get PR is not to sell someone on your company or product — it’s by being a human being. Journalists hate being pitched…journalists and bloggers are, in fact, humans.”

9. “Before meeting with a journalist, it is your job (as CEO) to read their last five articles in full…”

10. “Your job as the CEO/founder is to create direct, honest and personal relationships with journalists.”

11. “Attach your brand to a movement.”

12. “PR is, by definition a reflection of what you’ve done. When a startup hits, it’s not one thing that does it, it’s typically many things working in concer.”

I'd summarize the advice and change the 6 words of advice to: Be amazing, be passionate, be human.

8/07/2008

THREE IN ONE POST: Office Jargon explained, Art of asking, Saying no

The cubicle warrior's guide to office jargon

Let's think out of the box: Really means, "Can you creatively anemic people please come up with something?" The person who says, "Let's think out of the box" is usually desperate for a new idea and surrounded by people who are not known for generating ideas. So the phrase is actually an announcement that says, "I'm in trouble."

I need someone who can hit the ground running: Really means, "I am screwed." Because no one can hit the ground running. You need to at least assess what race you're in and who else is running.

Do you have the bandwidth? Note that bandwidth is not time. It is something else. If you ask someone "Do you have time?" you mean, "Am I a priority?" If you ask someone "Do you have bandwidth" you mean, "You seem like your brain is fried. Can you pull yourself together to do this for me?"

Let's hit a home run: "I'm desperate to look good. Even though the odds of a home run are slim, I'm banking on one because it's the only thing that'll save me." Something for all your sports fans to remember: If you have a bunch of solid hitters you don't need a bunch of home runs.

You and I are not on the same page: "Get on my page. Your page is misguided." No one ever says, "We're not on the same page, so let me work really hard to understand your point of view. If you want to understand someone else, you say, "Can you tell me more about how you're thinking."

I'm calling to touch base: "I want something from you but I can't say it up front." Or "I am worried that you are lost and I'm sniffing around for signs to confirm my hunch." Or "I'm calling because you micromanage me."

Let's run the numbers and see how they look: "I know they look bad on first blush. But the true use of Excel is to keep changing the formulas until you find a format that makes the numbers look good."

My plate is full: "Help I'm drowning," or "I would kill myself before I'd work on your project."

Let's close the loop: "Let me make sure I'm not going to get into trouble for this one."

Let's touch base next week: "I don't want to talk to you now," or "You are on a short leash and you need to report back to me."

Keep this on your radar: "This will come back to bite you. or me."


Geek to Live: The art of asking

Be specific.

"I tried to use your script and it didn't work. What am I doing wrong?"

This type of question is impossible to answer because it's too vague. What didn't work? What was the output? Was there an error? What was it? What happened exactly? If you need help, help the askee help you. Don't ask unless you can make your question clear - it'll save both of you a lot of back and forth.
Do your research.

"Do you know how someone might keep a to do list in a plain text file, like todo.txt?"

If it's obvious that you haven't put any elbow grease into researching your question yourself, folks are a lot less likely to help you - especially on mailing lists. Make sure you do a good faith run through the user guide and search the web before you waste other people's bandwidth on an issue you can solve yourself.

There are times when web search won't help because you don't know the right terms that others have used to describe the concept. In those cases, say up front, "My Google skills failed me" or "I searched a few different combinations of foo and bar, with no success" or "I called customer service and they couldn't help either."

Show that you at least tried. Just remember that busy smart people will only volunteer their time if you show that you're not just trying to con others into doing free research work for you.
Ask the right person.

"When I tried to do X on example.com I get this error. How come?"

When you find a helpful resource, your natural inclination is to ask them questions about everything. But, asking anyone other than someone AT example.com about an error there just doesn't make sense.

Make sure you're asking the right folks for the information you need. This goes triple for departments at the office and friends. Develop your own personal "board of experts" - or join a Q&A community like the excellent Ask MetaFilter. Then, when you have a question, after you've done your research and come up short, consider who in your life is best equipped to answer it with ease. Spare everyone else.
Make it worth the askee's while.

"I can't get your program to work and it's driving me crazy!!! Help me ASAP I have a deadline!!!"

When you're tired and frustrated and wrapped up in your own needs, it can be hard to step outside yourself and think about others. But the best way to get someone to help you out of the goodness of their heart is to offer them something in return.

"Hi, I want to use your software because it looks really interesting, and I'd like to write it up on my web site. But I'm having this problem which doesn't seem to be documented. Can you help me work it out?"

In that case, the askee has two motivations: the first is free publicity, and the second is the chance to work with a cooperative, calm tester to debug a problem and complete the software's documentation.

A favorite childhood story of mine, Stone Soup, is an excellent example of motivating others to help in action. Wikipedia says one of the key takeaways of the tale is:

If you want to get people to do something, don't tell them how desperately they are needed. Don't try to appeal to their sympathy and kindness. Instead, create the impression that you are giving them the opportunity to be part of your success.


20 Ways To Say No

I AM IN THE MIDDLE OF SEVERAL PROJECTS
* let people know when you have accepted other responsibilities
* no need to make excuses if you don't have any free time
* no one will fault you for having already filled your plate
I AM NOT COMFORTABLE WITH THAT
* you might be uncomfortable with any of a number of issues
* the people involved, the type of work, the morale implications, etc.
* this is a very respectful way to avoid a sticky situation
I AM NOT TAKING ON ANY NEW RESPONSIBILITIES
* you aren't saying that you will never help out again
* just that you feel your schedule is as full as you would like now
* understanding your limits is a talent to be expected
I AM NOT THE MOST QUALIFIED PERSON FOR THE JOB
* if you don't feel that you have adequate skills, that's okay
* it's better to admit your limitations up front
* the best way to avoid feeling overwhelmed down the road
I DO NOT ENJOY THAT KIND OF WORK
* life isn't about drudgery -- if you don't enjoy it, why do it?
* don't be afraid to let someone know you just don't want to
* someone else is bound to enjoy the work you don't
I DO NOT HAVE ANY MORE ROOM IN MY CALENDAR
* be honest if your schedule is filled
* "filled" doesn't have to mean really filled
* know when you are scheduled as much as you are willing and stop
I HATE TO SPLIT MY ATTENTION AMONG PROJECTS
* let people know that you want to do a good job for them
* but you can't when your focus is too divided or splintered
* you will be more effective if you focus on one project at a time
I HAVE ANOTHER COMMITMENT
* it doesn't matter what the commitment is
* it can even simply be time to yourself or with friends or family
* you don't have to justify -- you simply aren't available
I HAVE NO EXPERIENCE WITH THAT
* volunteering shouldn't mean learning an entirely new set of skills
* suggest that they find someone who has experience in that area
* offer to help out with something that you already know how to do
I KNOW YOU WILL DO A WONDERFUL JOB YOURSELF
* people often ask for help because they doubt their own abilities
* let them know that you have confidence they will succeed
* you are actually doing them a favor in the long run
I NEED TO FOCUS MORE ON MY PERSONAL LIFE
* don't be ashamed of wanting to spend time with your family
* having a strong family is an important priority in and of itself
* be willing to put your personal needs first
I NEED TO FOCUS ON MY CAREER RIGHT NOW
* often, you have to focus your energies on a work-related task
* you may have to give up some civic or community duties
* if you don't do it, someone else will take on the task
I NEED TO LEAVE SOME FREE TIME FOR MYSELF
* it's okay to be selfish -- in a good way!
* treat your personal time like any other appointment
* block off time in your calendar and guard it with your life
I WOULD RATHER DECLINE THAN DO A MEDIOCRE JOB
* know when you aren't going to be able to deliver a quality product
* the reason doesn't matter -- not enough time, wrong skills, etc.
* whatever the reason is enough for turning a request down
I WOULD RATHER HELP OUT WITH ANOTHER TASK
* saying no doesn't mean that you can't help at all
* if someone asks you to do something you really despise, refuse
* then offer to help with something you find more enjoyable
LET ME HOOK YOU UP WITH SOMEONE WHO CAN DO IT
* if you aren't available to help out, offer another qualified resource
* helping to connect people is a valuable service to offer
* make sure the person you refer will represent you well
NO
* sometimes it's okay to just say no!
* just say it in a way that expresses respect and courtesy
* leave the door open for good relations
NOT RIGHT NOW, BUT I CAN DO IT LATER
* if you really want to help but don't have time, say so
* offer to help at a later time or date
* if they can't wait for you, they'll find someone else
SOME THINGS HAVE COME UP THAT NEED MY ATTENTION
* unexpected things happen that throw your schedule off
* accept that you may need to make a few adjustments
* it is temporary and you will have more time when life stabilizes
THIS REALLY IS NOT MY STRONG SUIT
* it's okay to admit your limitations
* knowing what you can handle and what you can't is a skill
* your time will be more efficiently spent on something you do well

How to manager your conversation with others in office or social setting

This is why I love Lifehacker.com!

Here is
Top 10 Conversation Hacks
to let you survive your every day office or social life!

10. Feign sincerity with eye contact and repetition.
When you're just not feelin' it but you've got to look like you are, the Wired How-to wiki suggests ways you can feign sincerity. In short, make eye contact, echo what the person is saying to you back to them, and nod in understanding (even if you're not).


9. End a conversation with body language.
crossedarms.pngWhen that chatty co-worker just won't go away, use some of manager Brendan Connelley's techniques. My favorite is simply standing up (or crossing your arms, or speeding up to a "fast walk") to indicate it's time for that person to go and you're busy. In more desperate situations, grab your cell phone and say, "oh sorry, I've got to take this." Photo by SiBorg.


8. Ask sensitive questions indirectly to skip awkwardness.
When the info you need from someone is somewhat sensitive, check out journalist advice site MBToolbox's suggestions for asking delicate questions indirectly. Use the bluff ("the breakup must've been hard, huh?") or blame others ("so has anyone asked about your prison time?") or the indirect inquiry ("what year did you get divorced?") to broach sensitive topics with tight-lipped folks with more ease and less awkward silence.


7. Use silence to win arguments and nail a negotiation.
Lawyers and price hagglers know that a little silence can go a long way. When the other party offers a price, opt for a long pause to indicate hesitation, which might prompt them to go lower. In the case of arguments, prolonged silence may frustrate the other person—but it'll also make you look like the winner. (The evil winner, but the winner nonetheless.)


6. Soften critiques with the sandwich method.
crithamburger.png When you need to critique someone—whether it's a co-worker's presentation or a spouse's choice of outfit—start with a compliment, then mention your critique, then end on a positive note. The "criticism hamburger" gets the message across but softens the blow.
5. Say "no" gently—or say "yes, but...."
When someone's asking you to do something you just don't want to—or don't have the time—there are ways to say "no" that are polite and respectful and won't burn any bridges. OnlineOrganizing.com offers 20 "scripts" for turning down a request, from "I'm in the middle of several projects right now" to "I'm not the right person for that job." (I've found that suggesting someone else or offering a tip on the best way to proceed also helps a whole lot.) Master of attention-firewalling Merlin Mann says you can partially commit by qualifying your "yes" with specific boundaries around what you'll do (that also imply what you won't).


asking.png
4. Ask questions well.
When you need information, the people that have it need some reason to help you. Whether you're posting a question on a tech support forum or asking a colleague for help, here are some ways you can master the art of asking to get the answers you need.


3. De-code office jargon.
officejargon.png Client want to "touch base"? Manager want to "get on the same page"? Corporate euphemisms translate into pretty strong words, and you'll navigate your career a whole lot better if you recognize the ones that mean "get off your ass." Career adviser Penelope Trunk offers a non-nonsense dictionary for parsing office-speak.


2. "Pace and lead" an irate person.
angryguy.pngWhen you're dealing with someone who is absolutely freaking out—like a parent flipping out at the playground—use school administrator Bert Webb's "pace and lead" technique. Instead of remaining calm, match the other party's emotional intensity to show you're empathetic, then lead the complainant to a calmer level of discourse.


1. Become a human lie detector.
When you suspect someone isn't telling the whole truth, tune into their voice, eyes, and body language. Monster.com's Marty Nemko lists a few indicators that should trip your BS detector, like a sudden change in voice pitch, rate of speech, or "ums" and "ahs," a change in eye contact, and body position. Similarly, project manager Scott Berkun weighs in on how to detect bullshit.


Perhaps the greatest human behavior and communication hack is an awareness of what makes people tick. If you can offer someone something they want, they'll give you what you want in return.

7/29/2008

Building your team for your own startup

Mashable did it again. Check out Startup Hacks: Seven Ideas for Building Your Team

Seven ideas for building your startup team:


1. Hire like-DNA

Like DNA doesn’t necessarily mean like personalities. Hire people who get it, who see the world the same, but that have complementary skills. There’s an old saying that “it takes all kinds,” but don’t take that too literally. If you do, you’ll have analysis paralysis and you won’t accomplish anything in a timeframe that matters.

2. Too many chiefs

Don’t hire too many execs; being top heavy isn’t fun. It comes with egos, turf wars, high expense to your cash and cap table. A VP level role must be severely justified. Just because someone is the first employee, doesn’t mean they’re a VP. And just because someone’s a founder, doesn’t mean they’re a VP either. While we’re here, “founder” is not a job title, so avoid behaving as if it were.

3. Build a low fat company

People tend to over-hire so that they can scale to meet the demands of a hockey stick business that’s coming any day now. Don’t hire until it’s clear you have one of those hockey stick situations. You’ll burn less venture, social and emotional capital. The more bodies, the more drama and associated management. The fewer bodies, the less of that and likely the more you get done. You’ll be able to make decisions faster and implement them even faster. Understand, that in the early stages of a company, getting small wins is key. Momentum is like that: the sum of the small wins yields the bigger win, so on and so forth.

4. Be scrappy and hire scrappy

It’s the only way to fly in this era. Scrappy people find a way, they create momentum, they make things happen, they thrive on roadblocks, they don’t read the manual, they figure things out, they see the forest and the trees, they find openings in the field, they try fast and fail fast, but apply lessons learned quickly.

5. Can you feel it?

Chemistry is so, so, so important. You need to be able to WANT to have a drink or a meal with the people on your team. You need to be able to call B.S. at times, and for your teammates to not take things personally. You need to have personal and company alignment of interests. This level of engagement is only had with strong chemistry.

6. Hire in tribes

If you can find people that have enjoyed and had success working together in the past, keep them together. You can’t buy that. It’s like an instant catapult, and there’s no substitute.

7. Don’t hire (or partner with) your friends (for friendship sake)

Make sure there’s a major fit to the task or vision, otherwise you put a friendship on the line - and that can only go one of two ways. I have a friend that to this day is hurt because I didn’t ask him to join a company I started. Truth was, we had a good chemistry friendship, but that didn’t qualify for a good chemistry business venture. I’m just glad to still have the friendship.

7/24/2008

Maverick's Startup Rules

Maverick put together his rules to be successful in the startup: A Couple of My Rules for Startups.

1. Don't start a company unless its an obsession and something you love.

2. If you have an exit strategy, its not an obsession.

3. Hire people who you think will love working there.

4. Sales Cures All. Know how your company will make money and how you will actually make sales.

5. Know your core competencies and focus on being great at them. Pay up for people in your core competencies. Get the best. Outside the core competencies, hire people that fit your culture but are cheap

6. An expresso machine ? Are you kidding me ? Shoot yourself before you spend money on an expresso machine. Coffee is for closers. Sodas are free. Lunch is a chance to get out of the office and talk. There are 24 hours in a day, and if people like their jobs, they will find ways to use as much of it as possible to do their jobs.

7. No offices. Open offices keeps everyone in tune with what is going on and keeps the energy up. If an employee is about privacy, show them how to use the lock on the john. There is nothing private in a start up. This is also a good way to keep from hiring execs who can not operate successfully in a startup. My biggest fear was always hiring someone who wanted to build an empire. If the person demands to fly first class or to bring over their secretary, run away. If an exec wont go on salescalls, run away. They are empire builders and will pollute your company.

8. As far as technology, go with what you know. That is always the cheapest way. If you know Apple, use it. If you know Vista... ask yourself why, then use it. Its a startup, there are just a few employees. Let people use what they know.

9. Keep the organization flat. If you have managers reporting to managers in a startup, you will fail. Once you get beyond startup, if you have managers reporting to managers, you will create politics.

10. NEVER EVER EVER buy swag. A sure sign of failure for a startup is when someone sends me logo polo shirts. If your people are at shows and in public, its ok to buy for your own folks, but if you really think someone is going to wear your Yobaby.com polo you sent them in public, you are mistaken and have no idea how to spend your money

11. NEVER EVER EVER hire a PR firm. A PR firm will call or email people in the publications, shows and websites you already watch, listen to and read. Those people publish their emails. Whenever you consume any information related to your field, get the email of the person publishing it and send them an email introducing yourself and the company. Their job is to find new stuff. They will welcome hearing from the founder instead of some PR flack. Once you establish communications with that person, make yourself available to answer their questions about the industry and be a source for them. If you are smart, they will use you.

12. Make the job fun for employees. Keep a pulse on the stress levels and accomplishments of your people and reward them. My first company, MicroSolutions, when we had a record sales month, or someone did something special, I would walk around handing out 100 dollar bills to salespeople. At Broadcast.com and MicroSolutions, we had a company shot. Kamikaze. We would take people to a bar every now and then and buy one or 10 for everyone. At MicroSolutions, more often than not we had vendors cover the tab. Vendors always love a good party :0

7/19/2008

Great way to promote your business

Best of all, they are free!

10 Ways to Promote a Business Online for Free

Great post mortem story of failed web 2.0 company (Monitor110)

There are great lessons to be learned and followed if you want to success in web 2.0 company. Monitor110: A Post Mortem does not provide formula for success but it does provide great insight to what went wrong for Monitor110.

Full quote as follows:

Turning Failure into Learning

Writing a post mortem is hard, particularly when the result is failure: a failed deal; a failed investment; a failed concept. That said, without a post mortem, without deep reflection, honesty and introspection, how can we get better and do better the next time? Quite simply, we can't. My involvement with Monitor110, as an investor, Board member and leader, was one of the most interesting and informative experiences of my life. I learned about areas I never dreamed of. I worked with a terrific group of young, exceptionally bright people who believed in the vision. Ultimately, we failed. But why did we fail, and what could we have done differently? Some of the stuff is pure 20:20 hindsight. These observations aren't worth much. But the interpersonal dynamics, the issues of organizational structure, the need to change strategy in light of new information, the relationship with key investors, all of these are very instructive. I will endeavor to be as honest and candid as possible.

Let me say that I deeply respect everybody involved with Monitor110 from the original founder, Jeff Stewart, to our investors, employees and customers. Everyone tried very hard to make things work, and this post is not an indictment of anyone. There are no "bad actors" in this story. But a confluence of factors made success an uphill struggle.

The Seven Deadly Sins

While we certainly made more than seven mistakes during the nearly four-year life of Monitor110, I think these top the list.

1. The lack of a single, "the buck stops here" leader until too late in the game
2. No separation between the technology organization and the product organization
3. Too much PR, too early
4. Too much money
5. Not close enough to the customer
6. Slow to adapt to market reality
7. Disagreement on strategy both within the Company and with the Board

A Little Background

I was initially approached in early 2005 by Jeff Stewart, who had the original idea for Monitor110. It was a compelling idea. The thesis: more and better information is being put out on the Internet every day, information that can be valuable to Institutional investors who are constantly looking for an edge. And these investors were not very sophisticated about how to best access this information; Monitor110 would use technology to help them get that edge. Jeff and a few guys had hacked together a version 1.0 of the system, which was based on a boolean matching engine with rules corresponding to each company and investment theme. It was fast. It worked ok. We spent some time working with PubSub, who had built a scalable matching engine but was not focused on the financial services industry.

By mid-2005 the system worked, but spam was becoming more prevalent and caused the matching results to deteriorate, e.g., too much junk clogging the output. Around the same time we started to dig into natural language processing and the statistical processing of text, thinking that this might be a better way to address the spam issue and to get more targeted, relevant results. This prompted us to not push version 1.0, instead wanting to see if we could come up with a more powerful release using NLP to mark the kick-off. In retrospect, this was a big mistake. Mistake #5, to be precise. We should have gotten it out there, been kicked in the head by tough customers, and iterated like crazy to address their needs. Woulda, shoulda, coulda. Didn't.

An Unusual Leadership Structure

The idea was that Jeff was the technology guy and I was the business guy. Jeff focused on technology and product and I focused on fund raising, HR, controls and client access (given my Wall Street and hedge fund rolodex). On paper, made sense. Jeff was a successful three-time entrepreneur, I was an experienced senior Wall Street executive. The problem was, however, that when it came time to make hard decisions the two-headed structure really didn't work. It was a technology company working to solve a complex problem, and ultimately technology dominated the discussion. Ultimately, we ended up building something that the business side was not happy with, which made selling it difficult. An indication of Mistake #2. Neither Jeff nor I had the power, real or perceived, to simply change direction. The Board was supportive of this management structure. This was also a mistake. Mistake #1.

A Real Product versus a Science Project

We talked about "release early/release often," but were scared of looking like idiots in front of major Wall Street and hedge fund clients. Is it better to wait a bit before releasing to have a more compelling product or to begin getting feedback on a less impressive offering? We chose #1; in retrospect I think we should have chosen #2. By choosing to wait we lost our intimacy with the customer (Mistake #5 again), falling into the classic (as a "green" entrepreneur I didn't know this, but as a seasoned four-year venture investor I know this now) trap of pursuing a "science project," not building a commercially salable product. Dumb. Another problem: technology and product management were effectively bundled together, with the same decision-makers for both. This was another crucial error, #2 again. Instead of having product management as the advocate for the customer and the product evangelist, we had technology running the show in a vacuum. Huge mistake. This allowed us to perpetuate the science project for much, much longer than we should have. There were no checks-and-balances built into the system. This was a recipe for failure. I intuitively knew it then but as an inexperienced entrepreneur didn't feel empowered to act. Really, really stupid. After 20 years of making consistently good business decisions why didn't I throw a fit and and be more assertive in communicating my concerns? No good answer here.

And these bad behaviors were reinforced by an unplanned event that sharply impacted our psyche: being on the front page of the Financial Times. It is hard to call it a mistake since we didn't seek to get such exposure, but I put it down as Mistake #3. To be honest, this single fact was a very meaningful factor in our failure. It raised the level of expectations so high that it made us reluctant to release anything that wasn't earth-shattering. It was also catalyst for us raising our last and largest round of capital. So the net effect was that it enabled to raise all this money that kept us far from the customer. Truth be told, we were probably afraid of customers at this point because we didn't want to disappoint them or look bad. Oh, we'd build something they'd love. We just wouldn't show it to them until it was done. Ugh. Just so stupid.

Too Much Money

Too much money is like too much time; work expands to fill the time allotted, and ways to spend money multiply when abundant financial resources are available. By being simply too good at raising money, it enabled us to perpetuate poor organizational structure and suboptimal strategic decisions. Mistake #4. We weren't forced early on to be scrappy and revenue focused. We wanted to build something that was so good from the get-go that the market would simply eat it up. Problem was, with all that money we hid from the market while we were building, almost ensuring that we would come up with something that the market wouldn't accept. And then there were technology issues that came up along the way, very substantive issues, that because of so much money we simply didn't face into nearly fast enough. And this drove a wedge in the company between those that were more plugged into the market (and felt we weren't building the right thing or addressing the data issues the right way) and those who were building the product (and felt very convinced that what they were building was responsive to the market). I would almost argue that too much money enabled the other six mistakes to be made again and again and again. Seems counter-intuitive, right? It's not. And believe me, I am super sensitive to this issue now as an investor. If a company wants to raise significantly more money than I think they need to get to revenue, I push back. Hard.

Investor Expectations versus Market Reality

We raised money based on a vision of a scalable web portal, a tool that would eventually be the web-enabled side of Bloomberg. We never believed we'd replace Bloomberg, Reuters or Thomson for market data and mainstream news, but that we'd eventually become a necessary part of the Institutional investor research mosaic. We were positioned as a technology company, not as an alternative research provider or a services business. And it was the deep belief in Monitor110 as a pure technology company that created a rift between the business side of the company and powerful members of the Board. Mistakes #6 and #7, as you'll soon see.

We did an angel round in the latter part of 2005 followed by an institutional round early in 2006, enough money, we thought, to help us build the new version 1.0 of the product. We then did another institutional round in Q3 2006 to further execute against this vision, because the money was offered to us on a pre-emptive basis and around six months earlier than we were planning to do a raise. The new release would be whizzy, fast, comprehensive and use all that neat technology to analyze unstructured data in real time, and to score each data element by reputation and relevance. Easy to filter, discover and analyze. Super cool, right? Sure. Problem was, we started out trying to analyze most of the dynamic web (probably up to 100 million sources by now) in real-time, and using technology (NLP, pattern matching, etc.) to do the filtering, indexing and categorization. This was no mean engineering feat. We had a very, very large and complex back-end. And even with this, the quality of the data coming through to the end-user was just not that good. Too much spam, still. Duplicate posts. Sometimes mis-categorized. Difficulty applying our reputation algorithms. Not good.

Those closer to the customer wanted to effectively chuck this approach and to build up a high-value corpus of data from the bottom up, using our deep knowledge of the source universe to assemble a body of data from publishers of high reputation. Really more akin to a "Bloomberg for the Web" than the original product, as the sources would be of high-quality and indexed correctly. They also wanted to build a research capability, where a desk could generate customized reports for clients leveraging our technology and data. But making this fundamental change to our approach towards data and the business model resulted in a fight. Almost a jihad, where certain parts of the company were vehemently in favor of changing our approach while others said "improvement to the current system is right around the corner." This could only happen because of Mistakes #1 and #2, where nobody could pound the table and say "this is the way we're going to do it and here's why," nor could the business side simply say "this is what our clients want. This is why we should do it." We were one big, passionate, driven, dysfunctional family. This argument played out over months and months, and cost us an enormous amount of money. Eventually we did change our approach to data, but it was a fight that spiritually damaged the company and morale and had a financial impact that substantially depleted our coffers.

And in Conclusion

The good news for me personally is that I now invest in a way that actively seeks to avoid the seven deadly sins listed above, and the performance of my portfolio companies bears this out. But I simply wasn't smart enough or experienced enough to see all of these mistakes or to feel empowered to do something about them until it was too late. I would like to thank all of our investors for having the confidence in us to pursue the Monitor110 vision, and I'm sorry that we weren't financially successful. I'd also like to thank the people with whom I worked during my tenure at Monitor110. Not a bad apple in the lot. Smart, hard-working, highly motivated professionals. They will invariably do extremely well in their post-Monitor110 lives.

The market for alternative information and tools is very, very challenging, and the current market environment isn't making it any easier. But there are clear needs out there that should and will be addressed. I will write a post on the alternative information market at a later time. Thanks for listening.

7/18/2008

The know how of hiring the best!

Small Business Trends puttogether article on How to Hire the Best (for the least expense)

Great article to follow through to maximize your dollar for the quality employees.

SET THE STAGE

• STEP 1: Clear, Precise, Thorough Job Description.

Make absolutely sure this is your first step. Appropriate levels of detail vary for each job. Include the need that’s solved with this person’s hire. It’s impossible to measure their success, and yours for their hire, without it. Include their incentives. Do not proceed to go before this is completed.

Your goal is clear now. The next step is made easier.

• STEP 2: Clear, Precise, Job Qualifications.

The details make the difference here, too. Your work environment, the setting, their workspace, personality of their colleagues…all must be included along with specific task-related skills necessary to perform the tasks of the job. You’ll hire the person that fits your needs, stated or not. The purpose here is to state them clearly, for everyone’s acceptance.

• STEP 3: TOE the line.

o Transparent. You’ll be rewarded with greater engagement, participation, input and…forgiveness as you make this recruiting process transparent for all. Tell everyone, tell them repeatedly and put it in writing. And demand the same of everyone else. Small companies usually are at an advantage here. But this is a double-edged sword.

o Openness. Keep all parties informed, all to all, on the progress of each step in this recruiting process. It’s time-consuming if your time horizon is very short. Otherwise, it’s obvious this is an investment whose immediate return comes in the form of …

o Engagement. The holy grail of small business success. Recruiting and hiring is a perfect opportunity to create another layer of engagement with the current members, with the future member.

Everyone now knows when and what you want to hire. And why.

And they know they’re engaged in the process.

Who and Where are the next questions. Who has the qualifications? Where do you find them?

PERFORM

• STEP 1: Look Within.

The first place, usually the best place, for all your company’s solutions rests internally. That’s everyone in your company: your employees, your colleagues. It’s their evangelism that’s brought your team together. Their evangelism brings your customers to you. Look to them. They know best how to solve your company’s needs. They’ll know best who will work best.

o Note: Some company circumstances allow customers and partners/vendors to be included at this stage. I’d label that step 1A. Do it only A. if your relationships make it possible; B. after you’ve asked, transparently, your closest confidantes: your employees.

• STEP 2: Evaluate Within.

Vet the potential candidates internally before contacting any directly. This is most important in any small, close-knit community, whether it’s geographical or professional. This step will save time, money and embarrassment for all involved.

• STEP 3: Create a single point of contact.

Identify one person to contact any potential candidates after being vetted internally first. This respects the confidentiality of the candidates, avoids conflicting messages and saves everyone time. Let this person manage the interactions (interview follow-up, additional interviews) with the candidates. It can be the hiring manager. You can also use this process to test the capabilities of a promising member of your company.

EXPANDING THE SEARCH.

You’ve been unable to hire your desired candidate. Maybe, you’ve even interviewed one or two with no success. But any possible candidates for further review have been eliminated.

Now, what? What are your options?

• Ads? Be prepared for an onslaught of unqualified emails, resumes and phone calls.

If you must use an ad, I’d encourage you to keep the name of your company confidential. Competitors don’t need to know. Idle and incorrect gossip is kept to a minimum.

• Recruiters?

Be careful. And I say that having been a recruiter for corporate bankers back in the day. A top-notch, professional, recruiter with high levels of integrity can bring added-value to your company with each search they handle. They can find better candidates, they can do a better job of screening candidates, they can focus your time on meeting only the best of the candidate pool.

Unfortunately, it’s a minority of recruiters who fit this bill. No offense. But the potential for conflicts of interest, the lack of any enforced standards, the lack of loyalty…all increase the risk of an expensive and unproductive experience.

IF…you choose a recruiter, make sure it comes recommended from a trusted source. And, follow these recommendations:

o Verify their universe of candidates? What companies, competitors, do they have an existing relationship? This is the list from which they cannot recruit candidates for your job. The bigger the list, the smaller pool of candidates to draw from.

o Testimonials. Do NOT move forward without 5-10-15 wonderful testimonials.

o Expenses. Don’t pay them…unless it’s a very high-level position that requires a high-level of personal, confidential handling and it’s a limited universe of candidates.

o Maximum fee. Most recruiters are compensated based on a percentage of the salary of the candidate you hire from their recommendation. That incentivizes them to encourage you to pay more. Fix a maximum fee, regardless of the candidate’s eventual salary.

o Timelines and deadlines. Get them in writing. Hold them accountable with penalties for non-performance.

• Two potential resources.

I’ve used neither. But if I’ve told you to NOT use a recruiter…and you’re out of candidates…I should offer a solution.

o New-Hire.

I chose this company in recent weeks as my Small Business Resource of the Week. I’ve met the CEO, Chuck Smith. He came recommended by Steve MacGill, CEO and founder of Peersight Online. The testimonials for New-Hire were plentiful and their responses were near immediate and universally enthusiastic. I had created a partnership with them while CEO at another company.

Their key is that not only will they work with you to craft the text of your and work to place your ads for maximum responses, but they have an online application that lets you create a screening questionnaire and filter the candidates based on their answers. This let spend time only with those candidates you want to meet.

Chuck’s had many years in the recruiting and hiring business. And if you really, really want a recruiter they offer that service also.

o Hire Insight.

If I didn’t know New-Hire, I’d talk with Chad Hayward at Hire Insight. We’ve exchanged emails. I like his approach:

In terms of fishing or farming, the key is treating the process like a marketing activity (see http://blog.hireinsightselect.com/?p=12 ). Basically, this means developing an employer brand and designing appealing materials, such as postings, around that brand (i.e., “why would someone want to work for you?”). Of course, then there is the need to find the right places to market that job (generic job boards are not the only option, and is often not best); maybe we could offer suggestions on where readers could post vacancies.

In summary, I hope some of this helps clarify some steps to take to insure you recruit the Best Talent for the least expense.

The Best …for the Least. (It should be every small company’s motto in every thing they, we, do. It’s an easy way to A. be a stand-out; B. keep the cash-flows positive.)

7/13/2008

Best motivational article I have ever read!

7 Habits to Master the Art of Winning against the Odds is the best motivational article I have ever read. It give you the how the slump happens to how to overcome the problem you are facing.

Success in life is determined by your ability to go from failure to failure without loss of enthusiasm.
~ Winston Churchill


I can help take someone from failure to success but I can’t take them from excuses to success because if you’re making excuses you haven’t yet realized where the real problem lies.
~ John Maxwell


The main idea behind it are following 7 habits:

1. Learn to accept responsibility for your actions.
2. Admit your mistakes.
3. Develop mental toughness.
4. One goal at a time.
5. Develop your inner self.
6. Focus on what you can control.
7. Never stop learning.

Browser Add-On Business?

Is it really plausible? It is hard to tell and it's in the gray area where it depends on many other factors. ReadWriteWeb have published interesting article Can Browser Add-ons Be Businesses?

Conclusion is as follows:

Browser add-ons are increasingly interesting ways to reach consumers. Since the browser is the most used application on the desktop and major browsers are platforms, businesses are looking for opportunities to reach consumers through this new channel. Better than desktop applications, browser add-ons are light and update automatically.

As with any vertical business, only a few add-ons can become real businesses. The competition is tough and the business models have not been mapped out that well. Yet if there's a shot at reaching users via a download, browser add-ons seem to be it.

7/11/2008

Productivity TIP - Priority

Many times it is very hard to be productive and being able to achieve the goals that are set forth due to the fact that there are too many things that needs to be done.

Lifehacker published article that How Priorities Make Things Happen. Main theme idea is that by really thinking through what is the real priority that is either do or die can make it easier for people to give visibility of what needs to be done.

It also helps clamping down the meeting as well as achieve productive meetings as quoted from the article:

When there is uncertainty or disagreement, reframe the discussion around the priorities using questions like these.

* What problem are we trying to solve?
* Does this problem relate to our top goals or is it a distraction?
* Is this problem important enough to warrant changing our priorities?
* What is the simplest way to resolve this that will allow us to meet out goals?
* If we're struggling to meet our goals, which goal can we drop down to Priority 2?


Also, setting the proper priorities with good fundamental will involve saying no to many things as shown here.
One effect of having priorities is how often you have to say no. It's one of the smallest words in the English language, yet many people have trouble saying it. The problem is that if you can't say no, you can't have priorities. The universe is a large place, but your priority one list should be very small. That small list means there are thousands of good ideas that must be denied to focus your energy on the ones you've chosen to pursue. If you continually say yes to ideas that do not match your priorities, you are saying yes to failure. If you want to change your priorities, that's one thing, but if you are constantly changing them then they were never priorities at all. You did not think deeply enough about them if, emotionally, they are easy to change every few hours. So a fundamental law is this: if you can't say no, if you can't protect your priorities, you can't make things happen.

6/05/2008

12 PR secrets that all startups should know

TechCrunch did it again. They gathered great PR Secrets for Startups as shown in the quote below. Enjoy.

Secret #1
Understand You’re Not the Only Story in Town

Bloggers and reporters are some of the busiest people you could possibly hope to meet. They’re actively looking for the most interesting, relevant, and linkable stories out there, preferably before anyone else can run with it. But truthfully, they spend most of their time hacking through the weeds of generic or over-the-top inbound emails, press releases, Facebook messages, Skypes, SMSes, Tweets, and IMs. It’s almost a small miracle that anyone can ever get their story told.

At the end of the day, you’re not the only company with a great story. Just because your story is new doesn’t make it newsworthy.

Bloggers and journalists are interested in good stories and the more time you spend developing that story up front, for each person you’re trying to reach, the more you can help them help you.

Secret #2
Pick the Right Person or Team to Lead PR.

Your investors or advisors will tell you one of two things, usually starting with “you need PR.” From there, they’ll usually recommend that you either bring on an agency or consultant, one that they’ve worked with and can highly recommend. Or, they’ll suggest that you need to do it yourself (DIY) in order to build relationships with those who are highly respected in your target markets while conserving cash.

While DIY PR sounds good, you’ll quickly learn however, that it takes more time than you think to reach those people. Besides, you have other things to focus on and any good PR program will place you in a position to build relationships with the influencers that matter to your business.

Anyone can write a press release and blast it to a bunch of people. Remember, sometimes you get what you pay for and other times you just get ripped off. So, it’s important that you find the right solution that you can afford, but at the same time, offer your PR team the ability to deliver on the results that are realistic to what you need now.

When you do meet with PR people, evaluate them based on their ability to tell you succinctly who they have represented and pay attention to how well they summarize each company and what they do. Having existing relationships and the ability to show previous results is not optional.

Also quiz them on whether or not they understand the market, tech, benefits and the challenge as it relates to you specifically. If they can’t sell you on your product, how do you expect them to sell it to skeptical bloggers and journalists.

The two most important things to ask a potential PR consultant or agency are 1) do you have the bandwidth required to help us achieve these defined objectives and ? if it’s an agency ? 2) who’s going to work on my account and if it’s not you, can I meet the others on the team as well.

Secret #3
Participation is Marketing

You are equally important to the PR process. It doesn’t hurt to introduce yourself to bloggers or reporters offline and online to start building relationships with influencers who will help craft and guide your company across the market adoption bell curve.

Read and comment on their work. Send a brief intro email before you need anything. Attend one of the many tech networking events in your area to build your social capital, meet those who can help you, and those who you, in turn, can help as well.

Participation is marketing and by actively participating in both the online and real worlds, you forge relationships that will help your brand and social capital grow.

Keep in mind, how you participate, both online and in the real world, also contributes to your brand ? especially in the realm of social media. Comments, social network profiles, blog posts, pictures you share, etc., are all discoverable in traditional search engines and new media search tools.

Secret #4
Identify The Target Audience For Every Step Of Your Growth

Observe and document where you are in the state of the technology and market adoption and determine realistic goals and objectives that will help your business get to the next step. This is an especially important part as it will reveal who your customers are and where they go for information.

Now more than ever, it’s important to realize that there is no “one” audience for your story. Influence is usually a left-to-right process that picks up momentum and mass attention along the way. It fans out in the process.

This step allows you to identify which voices, blogs or media outlets reach your target audiences right now and at every step of your growth (you’ll see that your audience evolves along with your company).

Secret #5
Don’t Launch on Mondays

Pick a news or launch date, say Thursday at 11:30 a.m. PST, and build in a cushion to start talking to the right people under embargo before you roll out. Mondays and early mornings are usually the most congested. Releasing it later will most likely earn greater attention.

A quick note on embargoes and exclusives. Embargoes are a form of sharing news with media where they agree to not publish the news before an agreed upon date/time. Whereas exclusives require that you give your story to one person, and one person only. Choose carefully, as once someone runs with the story; chances are that other newsmakers will pass.

Embargoes and exclusives are not to be manipulated or taken advantage of. You should respect them and the people you’re working with.

Allowing journalists and bloggers adequate time to prepare is critical. They’re busy and they need more than an hour to digest and write a story. Once a press release or the news is made public, they no longer pay attention anyway. Their job (in an ideal world) is to break news, not to rewrite press releases.

Determine which reporters and bloggers should be part of the initial news discussions (under embargo). I’m a huge proponent of the “less is more” embargo strategy to try to 1) demonstrate appreciation for those you want to work with?it should be different with each type of announcement you feel is truly “newsworthy,” according to which audiences the news is best suited; and 2) to reduce or eliminate the chance that someone might break the embargo by running the story early (usually by mistake?sometimes you learn the hard way though.)

Secret #6
No Two Bloggers or Journalists are Created Equal

Do your homework. Once you’ve identified those whom you’d like to work with before and after the news date, make sure that the PR team researches individual preferences for contact before they reach out.

This is about relationships and creating a value cycle from PR to bloggers, journalists and ultimately to the people you want to reach with your news. This hopefully isn’t the last time you’ll reach out to these influeners, so work with them, their way, in order to earn the opportunity to collaborate again.

Relationships are cultivated and should be mutually beneficial as dictated by the extra time the PR team takes to personalize and package the story and align it with their workflow.

Perception is everything. Do the legwork and the outreach that contributes to the reputation you wish to earn and maintain. Anything less takes away from it.

Secret #7
Measure Success, Not Traffic

Establishing metrics at the beginning is important for setting expectations on both sides as well as establishing the bar for performance. Coverage is important but no one can ever predict or guarantee whether or not the blogs or news media you target will cover a particular story. However, establishing a quantity (based on quality) of coverage to shoot for is healthy, as long as you take into consideration an attrition factor.

PR can also be measured by conversations sparked online due to initial coverage, referring traffic as well as registrations and/or downloads. Analysis and measurement will reveal a path for prioritizing your targets now and in the future.

Be realistic in the number of visitors you establish as a metric. Also, make sure the site’s registration or download process is simple and that the messages around it are short and powerful. PR can bring traffic all day long, but if visitors aren’t reminded as to why they’re there or if the process is at all too cumbersome, the conversion ratio of visitors to users will quickly diminish.

Secret #8
Customize the News For Each Influencer to Make His Or Her Job Easier

I’ve been privy to an uncountable array of company pitches and it never ceases to amaze me just how few can actually summarize what they do and why it matters.

Focus on the elevator pitch and make it compelling, memorable, and relevant. Brevity is key.

Make sure to summarize each news announcement with a couple of statements and bullets to quickly showcase why anyone should care. Package the story differently for each person you’re hoping to reach, as each will have different needs. Take the time to pull relevant screen shots, create user accounts for each person if necessary, customize video demos and screencasts, and anything else someone may need to write a story instead of having to spend precious time doing your work for you.

Yes, it’s time consuming. But this is about building individual relationships and not about broadcasting spam.

Secret #9
Get a Spokesperson

This one breaks my heart each and every time. As I mentioned before, I’ve witnessed thousands of startup presentations and a majority are too painful to endure. Company founders are naturally enthusiastic and passionate about their product, but unfortunately, that doesn’t necessarily make them the best spokesperson.

First impressions are everything, and publicly showcasing your company, on stage, online, in print, or via broadcast media, requires nothing less than a polished, personable, and contagious presentation.

As hard as it is to pass the torch, this is one of those times where you really don’t have much of a choice if you’re not absolutely, 100% the best voice of the company. All hope isn’t lost however. You can embrace media and presentation training, and when tied to a tight elevator pitch and convincing messaging platform, you may indeed emerge as the ideal spokesperson for your brand.

Secret #10
Your Company Blog is More Powerful Than You May Think

I’m sure you’ve all read that having a company blog is critical to maintaining communication with your community.

First, don’t under estimate it. Second, don’t over estimate it. A blog is the voice and the soapbox for thought leadership, vision, solutions, milestones, and advice. At the very least, it contributes to the personality of your corporate brand. The best blogs become a resource and a destination, which helps improve your bottom line. For example, Google’s official blog is number 16 in Technorati’s Top 100 list of popular blogs.

In a world of building relationships with bloggers, reporters, analysts, partners and customers, your strategy simply can’t rely on only contacting everyone when you have news. Relationships require cultivation and nurturing. The company blog can help.

Prior to and in between announcements, make sure you’re out there actively commenting on relevant blog posts. But don’t leave short, irrelevant, kiss-ass, or angry comments. Contribute to the value of the conversation and make sure it links back to your blog. Also host relevant conversations on your blog and link out to your most valuable contacts wherever possible. They do pay attention.

Maybe this goes without saying, but I’m going to mention it anyway. Don’t break your news on your own blog!

Like press releases crossing the wire, breaking news on your blog makes the news less valuable if others haven’t yet had an opportunity to break it for you first. It’s like the new car analogy. The value of the car drops the minute you drive it off the lot. Time your post for after when the news breaks and link to everyone who helped cover the story. (Unless, of course, you are Google, in which case you can do whatever you want)

Secret #11
Blogger Relations Extends from the “A-List” to the Magic Middle

Online conversations are distributed and it now requires PR to identify the relevant silos that reach valuable niche markets.

The best communications strategies will envelop not only authorities in new and traditional media, but also those voices in the “Magic Middle” of the attention curve. The Magic Middle, as David Sifry defined it, are the bloggers who have from 20-1000 other people linking to them. It is this group that enables PR people to reach The Long Tail and they help carry information and discussions among your customers directly in a true peer-to-peer approach. And, in many cases, these bloggers are your prospective customers. Their effects on the bottom line are constant and measurable over time.

Secret #12
Follow the Conversations and Join In

As much as media and blogger relations drive traffic and increase your user base, we can’t overlook the importance of social networks such as Facebook, Twitter, Pownce, Jaiku, Digg, Reddit, StumbleUpon, Delicious, Diigo, FriendFeed, Ning, Mixx, Bebo, Get Satisfaction, Google and Yahoo Groups (among many, many others). When executed and managed correctly, and genuinely, the referring numbers can outperform the best articles and posts and the relationships that you create within these networks will prove incredibly valuable throughout the life of your company.

This isn’t about promotion or social network spam. This is about dialog driven by the insight you garner from listening to and reading the people who are talking about your company ? with or without your direct participation.

Try searching for your company, product, or competitor’s name in any of the above networks or any other social network, to see how they’re being discussed. By researching individual conversations, threads, and/or groups, you’ll find strategic points of entry across the board. This does take time, and may prove too overwhelming for you to run individually. Hiring a community manager or empowering your PR team to do so is a great place to start, that way they can point you to the conversations that require your attention or handle them directly.

Listening is as important as publishing. The best listeners make the best conversationalists. Make sure to keep a Google Alert for your company, spokespersons, and products. Reading and responding is critical to managing perceptions, sharing expertise, and building loyalty.

There’s no question, you have to compete for attention and in order to do so effectively and genuinely, you need someone who can help tell your story, the right way, through the people who reach your customers. It’s not an overnight process and it’s not something to “be gamed.” It’s a process of investing in, building and leveraging relationships now and in the long term. And yes, if you do things right, bloggers, reporters, and analysts will want to talk to you about your company and vision along the way.


4/08/2008

TOP 9 Free webhosting services for you to try something that you normally wouldn't!

Yea yea yea, I know it is easy enough to build the web server on your own computer. However, how about for the people who have their IP not accessible due to ISP blocking home server running? Apparently, that had been a case for me and I did some googling to find the following services which does not force you to use any king of ad while providing you some decent space for you to do some work done on. It does seems to have some restrictions to avoid and possible spammer or bot scripter to run undesired applications running on their servers. However, in general they are usable and these are my picks!

http://www.mister.net/free-web-hosting/index.htm
http://www.100webspace.com/web_hosting/free_plan.html
http://www.byethost.com/index.php/free-hostingmenu/37-byet-hosting-and-internet-services/55-free-hosting
http://php0h.com//content/view/16/26/
http://www.awardspace.com/details-easystarter-plan.html
http://prophp.org/content/view/16/26/
http://netfast.org//content/view/16/26/
http://phpnet.us/index.php?option=com_content&task=view&id=16&Itemid=26
http://www.hostfreeweb.com/

This is a bonus! Free php based web game that you can download and install on your servers! What a fun! It's open-source projects which you can develop further if you'd like.
http://phpgame.net/php-game-scripts-for-download.php

3/25/2008

Six Thinking Hat - Six Colors to tracks the thoughts

Every engineer knows that meetings are the most time consuming at the same time least productive in most cases. Most of the problem comes from arguments and power struggle between managers or engineers. Recently, I've been reading the book on Six Thinking Hats by Edward de Bono which addresses these issues.

The main train of thought about this is to have everyone in the meeting focused on one thing at the time to optimize and harness the group thoughts at the same time avoid any collision between members. By notation of color of the hat, everyone need to shift their thought process one way or another. It does require participation from each members to make this work but when the members get it, you can speed up the meeting time and the outcome will be much more productive.

For your reference:
Six Thinking Hats
de Bono Hats from Wiki
Six Thinking Hats® How to Think Your Way to Success

Quote of what each hat represent.

* White Hat:
With this thinking hat, you focus on the data available. Look at the information you have, and see what you can learn from it. Look for gaps in your knowledge, and either try to fill them or take account of them.

This is where you analyze past trends, and try to extrapolate from historical data.

* Red Hat:
'Wearing' the red hat, you look at the decision using intuition, gut reaction, and emotion. Also try to think how other people will react emotionally, and try to understand the intuitive responses of people who do not fully know your reasoning.

* Black Hat:
When using black hat thinking, look at things pessimistically, cautiously and defensively. Try to see why ideas and approaches might not work. This is important because it highlights the weak points in a plan or course of action. It allows you to eliminate them, alter your approach, or prepare contingency plans to counter problems that arise.

Black Hat thinking helps to make your plans 'tougher' and more resilient. It can also help you to spot fatal flaws and risks before you embark on a course of action. Black Hat thinking is one of the real benefits of this technique, as many successful people get so used to thinking positively that often they cannot see problems in advance, leaving them under-prepared for difficulties.

* Yellow Hat:
The yellow hat helps you to think positively. It is the optimistic viewpoint that helps you to see all the benefits of the decision and the value in it, and spot the opportunities that arise from it. Yellow Hat thinking helps you to keep going when everything looks gloomy and difficult.

* Green Hat:
The Green Hat stands for creativity. This is where you can develop creative solutions to a problem. It is a freewheeling way of thinking, in which there is little criticism of ideas. A whole range of creativity tools can help you here.

* Blue Hat:
The Blue Hat stands for process control. This is the hat worn by people chairing meetings. When running into difficulties because ideas are running dry, they may direct activity into Green Hat thinking. When contingency plans are needed, they will ask for Black Hat thinking, and so on.

3/08/2008

Do you want to become a leader? Read this!

Just found a great inspiration and guidance if you are or want to become a good leader. Source: 5 Traits You Will Need on Your Way to Becoming a Leader

A leader has the vision and conviction that a dream can be achieved. He inspires the power and energy to get it done.” -Ralph Lauren

A leader is seen as someone with a can-do attitude, the person whose glass is always half full. Hurdles in the road are not obstacles that prevent him from achieving his goal. Rather, they are challenges to be faced, to be overcome, and to be learned from. A leader believes that failures present the opportunity for self-improvement, and that performance on the next go-round will only be enhanced through the lessons previously learned.

A leader does not point to a location, tell his followers to go there, then tell them how to accomplish a goal. Rather, the leader is at the front of the pack, forging ahead of the rest and blazing a trail. The leader demonstrates to everyone else how things should be done, and works harder at accomplishing his goals than anyone else.

Whether you are striving to be a leader in your career, or simply want to be a leader in your own private life, there are many lessons and characteristics that will serve you well in either of these endeavors.

Consider these traits and then give thought to your own style. Are you a leader? Can you become one?

1. A Leader Must Have a Vision: This could be your grandest goal, or an overall sense of accomplishment. Either way, the leader must be able to visualize where he wants to be, where he wants his company to be, or where he wants his family to be. Everything begins with a worthy vision that provides a goal to work towards.

2. A Leader Must be Able to Develop Relationships: Great interpersonal skills are necessary for any leader to possess. The hermit will not achieve greatness, no matter how adept, because the world will not notice him. The leader builds quality relationships based upon trust, respect, cooperation, and teamwork. The leader does not ask what others can do for him, but rather what he can be doing to help others. A leader inspires others to join him in his quest for success.

3. A Leader Must be Able to Strategize: Successful leaders not only have a great vision, but they are able to develop a plan to reach their goal successfully. The leader knows what accomplishments need to be made, what obstacles must be overcome, and what resources will be needed in order to realize his vision.

4. A Leader Must be Able to Resolve Conflict: A good leader will examine conflict from all angles and be able to determine its root cause. In addition to realizing the feelings and perspectives of others, the leader will also recognize and acknowledge his own role in the conflict. He will then work collaboratively with other involved parties in order to successfully resolve the conflict issue while keeping important relationships intact.

5. A Leader Must be a Good Problem Solver: No matter how well thought out, the road to realizing a vision will be full of potholes. Thorough planning can help smooth out the road, but there will be some ruts in the road that threaten to rip the wheels off of the car. A good leader will recognize this ahead of time and plan accordingly, offering a backup plan when the original one goes awry. A leader is able to think on his feet, gather all available information, decipher the facts, and use some good common sense to come up with a workable solution.

In life, leaders are not necessarily the highest ranking person, or the one who holds the most impressive job title, or the one who claims to be the keeper of the home. A leader is someone whose actions have placed them in a position of trust and authority among their peers. A leader is someone whose advice is sought frequently, but never forcefully pushed onto others. A leader is someone whose spirit and desire for excellence eclipses that of everyone else around him. A leader sees the value in others, and inspires each person to perform their best, many times allowing them to exceed even their own expectations. A leader is also able to teach, to convey both physical skills and moral characteristics to those around him, and inspires those people to mimic him in his behaviors and attitudes.

Anyone can be a leader – after all, it is all in the manner and attitude with which one chooses to carry himself.

3/07/2008

Startup tips for software engineers

I found a great article in ReadWriteWeb about 36 Startup Tips: From Software Engineering to PR and More! and I wanted share it with all of you. This does not go into much details but it at least brushes on importance of each items and why you need them.

8 Software Engineering Tips for Startups

Since software is at the heart of every modern startup it needs to be elegant, simple and agile. Instead of having an army of coders it pays to have a handful of smart, passionate engineers who love what they are doing instead. A small, passionate team can generally accomplish more than an army. Even as the company grows you can still accomplish a lot with a small team.

Tip 0: You must have code

Working code proves that a system is possible, and it also proves that the team can build the system. Having working code is a launchpad for your business. After it is ready, the business can happen. In the old days, tech companies were funded based on an idea written on a piece of paper, but those days are long gone. Today, a startup needs to have not only working code, but an assembled system and active users in order to land venture capital money. Software engineering transitioned from the post-funding exercise to the means to being funded.

Tip 1: You must have a technical co-founder

Any startup starts with an idea and just a few people. A lot of startup co-founders these days are techies, passionate about technology and life. It was not always like that. Just a few years back a purely technical founding team would have had a hard time raising money because there was a school of thought that only people with MBA degrees could run a company. Now, having a technical co-founder is a benefit.

Tip 2: Hire A+ engineers who love coding

Until recently, building a large scale system that worked was like black magic. Most software projects languished for years, and had large engineering teams who had little consensus on what needed to be done and how to accomplish it. The resulting systems were buggy, unstable, and hard to maintain and extend. The problem was that there were just too many people who were not that good working on writing software. Startups cannot afford to have less than A+ engineers.

Tip 3: Keep the engineering team small and do not outsource

A team of 2-3 rockstar engineers can build pretty much any system because they are good at what they do, love building software, focus on the goal, and don't get in each other's way. A team of 20 so-so engineers will not get very far. The mythical man-month book debunked the notion of scaling by adding more programmers to the project. The truth is that most successful software today is built by just a handful of good engineers. Less is more applies equally to code and to the number of people working on it.

Tip 4: Ask tough questions during the interview

There is nothing worse than being soft during an interview with a prospective employee and hiring the wrong person into the company as a result. This is bad for you, but more importantly bad for the person. In the end you will end up parting ways, but it would be best to just not make this mistake to begin with. So be tough and ask a lot of technical questions during the interview.

Tip 5: Avoid hiring non-technical managers

You do not need these type of people on a small team. If everyone is sharp, knows what they are doing and executes on a task, why do you need a manager? People who try to overlay complex processes on top your objectives are going to slow you down and make you frustrated.

Tip 6: Cultivate an agile culture

Modern startups need to move very quickly. There is no room to plan for 6 months and then execute because someone else will get there first. The new approach is to evolve the system. Of course you are doing planning for the next release, but you are iterating quickly, doing frequent builds, and constantly making changes. Coding becomes sculpting.

Tip 7: Do not re-invent the wheel

A lot of startups go overboard with their infrastructure. This includes two types of things - rebuilding libraries and building your own world-class scaling. On the first point - there are so many fantastic open source libraries out there that it just does not make sense to write them in house. Whether you are using JavaScript or PHP or .NET or Python or Ruby, there are likely already libraries out there that can help you. Re-writing existing libraries is a waste of your time and you are not likely to do it better.

5 Infrastructure Tips for Startups

It is much easier to build web-scale startup these days because of great hosting services like Rackspace, web services from Amazon, and tracking systems like Google Analytics. In this post we take a closer look at these solutions from the perspective of a startup.

Tip 1: Use the best hosting provider you can afford

As a startup, you are always looking for ways to keep costs down. One of the first areas that seems to be a good place to trim costs and save money is on web hosting. However, skimping on hosting is a mistake that will cost you a lot of time, which is more valuable than the money you will spend. It is okay to go with a cheaper provider when you are just developing the code, but your production needs to run on a rock solid system.

Tip 2: Use Amazon Web Services

You are still likely to need a regular hosting provider, but you should be aware of an increasingly important alternative - Amazon Web Services. This offering from the e-commerce giant is a must-consider piece of infrastructure for any startup. Specifically, four services make it easier to build large-scale web applications: Simple Storage Service, Elastic Compute Cloud, Simple DB, and Simple Queue Service.

Tip 3: Use Google Analytics in standard and creative ways

Early on, startups need to track things. Tracking results are useful for metrics, which in turn help measure growth and success of the company. Without tracking, it is difficult to determine what is going on. Google Analytics is packed with features, but more importantly it has an API. The reason this is important is because you can actually build your own dashboard that offers a different, customized view of the same information.

Tip 4: Start with defaults, then tune the system

In 99.9% of cases you are better off starting with defaults, and in 99.9% of cases you are not going to end up where you started. The trick is to go from those defaults to custom settings in the proper way. Probably the worst thing you can do is premature tuning. Like premature optimization of source code, this leads to ugliness. Why guess before you even know what is going to happen to the system?

Tip 5: Hire or contract a good system administrator

This is the simplest tip of all. Like programming, business development and accounting system management is a specialty best left to professionals. I know my way around Unix, I even used to be a system administrator 15 years ago, but I am not up to par. When you reach a certain size and scale, you need a dedicated person running the hardware and OS show.

11 PR Tips for Startups

PR is a tough game. When the market is red hot, it's hard to get noticed because there are a lot of companies competing for air time. When the market is cool it is hard to get people to pay any attention because they are not interested (tired after the hot market). And for startups it's even tougher to have effective PR because a startup can't throw a lot of money at the problem. In this post we look at how startups should approach PR.

Tip 1: Hire a PR firm

This may come as a surprise, but you do need a PR firm. An early stage startup can't always afford one, but that does not mean that it is not necessary. The number one reason you need a PR firm is because of their connections. They know people, because this is what they do - network.

Tip 2: Do not expect PR people to intimately learn your product

This is not their role. They are connectors, they are the bridge between you and the media. They are responsible for putting you in front of the right press. This is their job. It is your job to pitch your product, to explain why it is so awesome and why everyone should be using it.

Tip 3: Get PR people who understand your space

PR companies have specialties, not all of them are right for you. For example, if you are in the consumer Internet space, do not hire a PR firm that specializes in mobile technologies - they're not the same thing. If you are a consumer Internet company, you need a firm that knows blogosphere inside out, because this is how you reach your early adopter crowd.

Tip 4: Launch your product at a conference

The reason for this is that you are likely to get a lot more media coverage and instant attention than if you launch just any old time. But the conference needs to fit. For launches, you can do one of two things: launch at a specialized conference such as DEMO (which we recommend) or you can launch in a non-startup conference which has a launchpad feature. For example, Web 2.0 events typically present 10-15 startups, as do conferences like Supernova. It does not make sense to launch at a conference that does not have any startup participation because it won't be the proper context for your launch.

Tip 5: Create demos, videos, pictures, and slides

A newsflash: press releases are dead. We have found them to be completely ineffective. To the point of zero leads. Zero. Instead, you need to prepare a new kind of media. Remember that people are spoiled these days, so they will have high expectations. If you think you can show up and tell them that you got the best new technology, hand wave, and then expect a write up, you are dreaming. You need to prepare. You need to distill your product and the message into something easily digestible, and you need to be very clear.

Tip 6: Do not launch or release big news on Monday or Friday

This may or may not be obvious but there are only 3 days when things get done: Tuesday, Wednesday, and Thursday. These are the best days to launch your product, in that order. Monday could work, but in the afternoon, because in the morning people still can't believe that the weekend is over. Fridays are really bad for PR - everyone is just waiting for the weekend.

Tip 7: Emailing after an introduction is more effective

One thing you have to understand about A-list bloggers like Michael Arrington, Richard MacManus, Om Malik and their colleagues is that they are getting thousands of emails each day from startups. It is physically impossible for them to process and respond to all that email. You may find that unfair, but this is just a simple fact. So once again, this is where a PR firm or at least a friendly connection via LinkedIn will come in handy. If you are introduced, the chances are far better that you will be heard. (No guarantees that you will be written up.)

Tip 8: Set an embargo and stick with it

This is something that we had to learn over and over again. Everyone wants an exclusive. Each blog that does news, wants to be first with the news. This is just the name of the game. If you do give an exclusive to one, you are running a big danger of not getting coverage in others. The way around this issue is to setup an embargo (meaning they can't blog about your launch until certain time) and then brief everyone prior to that and give them time to write about you.

Tip 9: Make sure people do not write without a brief from someone in your company

There has been a trend lately of writing based on a press release. While this does get you coverage, it is likely to do more bad than good. It is not just that you want to be heard, you want to be heard correctly. The key to that is to get a chance to tell your story directly to a reporter. A post based on a press release is likely to be wrong and harmful, while a post based on a one-on-one interaction is more likely to get it right.

Tip 10: Understand that major media coverage will not happen overnight

Chasing an article in a major magazine or newspaper like Wired or MIT Technology Review or the New York Times is not worth it. Their reporters will not write a feature until it becomes crystal clear that you are a huge success and are worthy of a feature. Instead of spending efforts on that, you are better off making the product really great and getting people to use it and evangelize it for you. The mainstream media will find you.

Tip 11: Community is the best PR strategy

It is very difficult to achieve continuous PR unless you do it via your own users. A thousand passionate users who have blogs and social network profiles can promote your product and expose you to more people than coverage on top blogs and magazines. For better or worse, news today is cheap. A post stays on the main page of a blog or newspaper site for a few hours and then scrolls out into a black hole. Google occasionally brings an old post to those who seek it, but realistically, news just flies by and no one wants yesterday's news.

7 Conference Tips for Startups

We have been to quite a few conferences already and more than a few people have asked me which conferences are good. The problem is not that some conferences are bad, it's just that some conferences may not be the right venue for your startup. In this post we are going to share with you our experiences in the tech conference world.

Tip 1: Launch at DEMO

DEMO is a great venue because its sole focus is to launch companies. Despite the fact that you will be one of over sixty participants, you will be given the stage and attention. The show is very intense, as it takes place in only two days. Each company is given exactly 6 minutes. The stage presentations are mixed with pavilion presentations which are a few hours long.

Tip 2: Sponsor/attend a few high impact conferences

ETech, SWSX and Defrag are our top picks so far. Make sure there is a fit between the conference and your product. Check out who else is sponsoring, and get feedback and blog posts from last year's attendees before signing up.

Tip 3: Rent the best equipment you can afford

Whatever it takes to make your product look good. It simply does not make sense to spend money on the sponsorship and try to save on the equipment. Save on the hotel and airfare instead.

Tip 4: Save money by staying in a hotel near by

You can stay anywhere reasonably close. The only thing you'd be missing is hanging with the people at the bar in the evening. Then again, that could be useful because drunk people talk more.

Tip 5: Don't grab people to look at your product

Some people do it, I am against it. How would you feel if you were grabbed and pressured into watching a demo?

Tip 6: Don't tolerate upsells

This is a sensitive topic, but it is a very important one. Unfortunately a lot of people at these events are not there to see you, they are there to use you. Consider people who are looking for a job. It is perfectly reasonable for someone to come over and hand you a resume. It is not reasonable for them to take up a lot of your time or to ask a lot about your company. Get their information quickly and tell them you will be in touch.

Tip 7: Organize PR around the conference

Conferences are a great and maybe rare chance to interact with reporters and bloggers face-to-face. However, it is not a straightforward practice. Reporters are humans and as such, they play games. If you approach them head on they will say no for no particular reason. Somehow you need to make them feel special, which is not easy. It is a good idea to get a press list and contact reporters in advance and arrange appointments. You may get a no over the phone, but they might just come by your booth anyway when they have a free minute. If this sounds like dating, it very much feels that way too.

5 Legal and Finance Tips for Startups

You are unlikely to think about lawyers and accountants when you dream up a piece of software that will change the world. Yet, if you want to build a real company you need to take care of the basics. While not the primary focus of your business, administrative functions are very important because they have impact on your daily life and the long term growth of your business. The main trick is to be aware of what needs to be done and do it quickly and effectively.

Tip 1: Setup a real company

The first step to setting up a business is to declare it to the world. Lots of startups in the garage might think that setting up a company does not make sense until you get the business off the ground. The idea of first writing the code and then incorporating is just plain wrong. First you need to figure out what kind of company are you creating and what is the ownership structure. Setting up a company is cheap and quick and it is an important starting point for your business. What you get in return is: legal protection, alignment of everyone's expectations, and basic knowledge about how companies work.

Tip 2: Get a Delaware LLC or Inc.

Likely the best way for you to setup a company is to create a Delaware Limited Liability Corporation (LLC) or a full C-Corporation (Inc). Delaware has traditionally been an attractive place for companies to set up shop because of its tax laws. The important difference between an LLC and an Inc is in how they treat taxes and the number of shareholders. The LLC is generally much simpler to maintain and it allows pass through taxes, which is good for companies that have income in the early days. Revenue can be treated as income to shareholders and only taxed once. In an Inc the tax is paid twice, first by the corporation and then again by the employees, as part of their regular withholding.

Tip 3: Don't save money on a lawyer

A lawyer? Are you kidding me?! Why would we need a lawyer for our brand new startup in a garage? As it turns out, there are a whole bunch of reasons and there is not much wiggle room here. Because a company is a legal entity having a lawyer is essential. For starters here is the list of things and documents that your lawyer should do for you in the first days and months of your business:

* Incorporate your business
* Create articles of incorporation
* Create corporate bylaws and maintain board minutes
* Create a shareholder agreement
* Create employment agreements
* Create a stock options plan

Tip 4: Get an accountant and, more importantly, a bookkeeper

Just like the legal aspects of a startup cannot be ignored, neither can the financial aspects. And unlike the legal stuff, which is mostly a one time deal, finances are ongoing and require continuous attention. To deal with finances you need two kinds of people: accountants and bookkeepers. The accountants are skilled in complexities and intricacies of tax law. They also conducts audits or reviews of the company, typically once a year. Accountants typically do not keep books because they are expensive (kind of like lawyers, maybe a bit cheaper). Instead the books are kept by bookkeepers and so to find a kick ass bookkeeper is another really important thing you need to do when you start a company. You can go either with an individual or with a service. I always prefer an individual became there is an opportunity to develop a relationship and get more personalized service.

Tip 5: Turn boring into learning

You have to take care of legal and financial aspects of the startup, so why not turn it into a learning experience? The legal and financial aspects of your company are important and interesting, and there are a lot of new things and ideas that you will encounter that are likely to impress you. Learning about them will help you in the long run.

12/14/2007

Famous Entrepreneurial Quotes

The Cheap Revolution have article Top 20 Entrepreneurial Quotes recently wrote which have inspired me as well. Lots of quotes does provide good guide lines and common senses. However, some are not so intuitive which add more values.

Here's the quote:

1. I have not failed. I've just found 10,000 ways that won't work - Thomas Edison, inventor and scientist
2. The only place where success comes before work is in the dictionary - Vidal Sassoon, entrepreneur
3. Entrepreneurship is living a few years of your life like most people won't, so that you can spend the rest of your life like most people can't - Anonymous
4. A good idea is ten percent implementation and hard work, and luck is 90 percent -€? Guy Kawasaki, entrepreneur, investor, author
5. Every worthwhile accomplishment, big or little, has its stages of drudgery and triumph; a beginning, a struggle and a victory - Mahatma Gandhi, political and spiritual leader
6. Failure defeats losers, failure inspires winners - Robert T. Kiyosaki, author, entrepreneur, investor
7. Entrepreneurs average 3.8 failures before final success. What sets the successful ones apart is their amazing persistence - Lisa M. Amos
8. Once you say you're going to settle for second, that's what happens to you in life - John F. Kennedy, U.S. President
9. In preparing for battle I have always found that plans are useless, but planning is indispensable - Dwight E. Eisenhower, U.S. President
10. The greatest reward in becoming a millionaire is not the amount of money that you earn. It is the kind of person that you have to become to become a millionaire in the first place - Jim Rohn
11. Some people dream of great accomplishments, while others stay awake and do them - Anonymous
12. Experience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper. The second is that you're generally better off sticking with what you know. And the third is that sometimes your best investments are the ones you don't make - Donald Trump, real estate and entertainment mogul
13. The entrepreneur in us sees opportunities everywhere we look, but many people see only problems everywhere they look. The entrepreneur in us is more concerned with discriminating between opportunities than he or she is with failing to see the opportunities -€? Michael Gerber, author, entrepreneur
14. An entrepreneur tends to bite off a little more than he can chew hoping he'll quickly learn how to chew it - Roy Ash, co-founder of Litton Industries
15. The critical ingredient is getting off your butt and doing something. It's as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer - Nolan Bushnell, founder of Atari and Chuck E. Cheese's
16. I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful - Warren Buffet, investor and billionaire
17. I never perfected an invention that I did not think about in terms of the service it might give others... I find out what the world needs, then I proceed to invent - Thomas Edison, inventor and scientist
18. Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover - Mark Twain, author
19. There is a tide in the affairs of men
Which, taken at the flood, leads on to fortune;
Omitted, all the voyage of their life
Is bound in shallows and in miseries.
On such a full sea are now afloat;
And we must take the current when it serves,
Or lose the ventures before us - William Shakespeare, author
20. Genius is 1% inspiration, and 99% perspiration - Thomas Edison, inventor and scientist

Here are our quotes:

Being an entrepreneur is a lot like playing poker -€? you can fold, limp in, or go for it - Yasmine Mustafa

If you kick it around enough, it starts to look like a ball - Skip Shuda