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April
3
2008
3:26 pm
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Branding is one of the most important issues for any business if it wants to succeed in this field of fierce competition. Branding is a very basic part of the whole marketing strategy of any business.What is a Brand?
A brand can be defined as just a set of associations that are linked to a particular company or an organization or a business group. A brand can definitely mark the corporate identity of any business. It signifies the values of the organization and its leaders. It tells about the quality of the services that are offered by the company to its customers. It tells how the company or the group differs from its competitors. Hence building a good brand image means achieving success in the business.
Fundamentals of Branding:

The branding process starts from the logo design of the organization. Logo, company name and its tag line combines to form a logo design. It is with this combination people identify your business. Hence good amount of money and time should be spent in deciding this combination. This combination should signify the mission, vision, growth plan and the values of the company. It should say how well you are going to serve your customers with your products and services. Good professionals should be used in getting some ideas on this combination. However, the top level management should take the final decision as they know the business better than any body else.
Branding Strategies:
Most of the companies start branding process even before the company starts and this process continues until the company survives in the market place. Normally all the branding campaigns will be decided by the advertising and management departments with a bit of top level management involvement. You should use the budget that has been allocated to the branding campaigns in a very intelligent manner. Never start with a huge budget campaigns unless yours is already a big brand. Spend amount sparingly in all the available advertising mediums and analyze the results from all the different mediums carefully. Have an in depth marketing mix analysis. This will show you what advertising mediums are giving you a better brand image. Then try to spend more amount on those mediums and try to analyze the possible steps you can take to better the brand visibility from the weaker mediums.
Never stop the branding process. It should go on until your business exists in the market place. If not there is a great chance of another company taking over your market share. If you follow these basic steps, it is definite that the brand image of your business will be quite healthy and it in turn brings in the required business for your company’s success.
Visit Graphic Design

About the author:
Vincent Platania
We have a professional team of graphic designers that possess artistic ability and creative thinking for designing eye catching graphic design. Visit Graphic Design

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March
29
2008
6:20 am
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My guess is you are thinking the exact opposite, especially during the holiday break when UK civilization seems to grind to a complete halt. Perhaps you were fuming at the state of the rail network; perhaps, like me, you are waiting for your dentist to amble back to work; you might even be still be waiting for some ‘internet-enabled’ Christmas presents to be delivered.

You have two alternatives in the face of these broken promises. One is to slump into a Victor Meldrew-like state of resigned desperation and look for an alternative supplier, if you can even be bothered. The other is to consider the glass to be half full, and regard your short-term misery as a new business opportunity.

This is the natural behaviour of the serial entrepreneur. If you solve the problem, as Del Boy Trotter in Only Fools and Horses famously put it, “this time next year we’ll be millionaires”. Of course few of us are going to rush off and buy a rail franchise or become a dentist, but perhaps you might now be considering your own an internet-based business, with reliable delivery. The barrier to entry for this last kind of enterprise is relatively small, and there are plenty of people already doing very successfully in their own niche markets; you might even know one, who can give you some pointers.

What you can definitely all do in 2008 is put the ‘Wow!’ back into your existing businesses, even if you are just an employee. This is the manifesto of the inimitable Paul Dunn, a serially successful entrepreneur based in Australia. Paul has tried to retire several times but cannot seem to stop himself getting involved in new and interesting things. He is much in demand as a speaker, and focuses on getting people and organisations to improve their products and services, so that, at the end of the experience, the customer says “Wow!”

This is far too important to leave just in the hands of your marketing department. However big your company, people do buy from people, and customer service problems typically revolve around poorly trained members of staff, not your carefully thought out business processes. The upside is that all the best ideas for improving your ‘Wow!’ factor will actually come from the same pool of talent.

In small companies (which we define in our Beermat model to be less than thirty employees) there is rarely a problem. The tribal nature of the organisation lends itself to regular social gatherings, where all sorts of crazy ideas are kicked around. The skill is in filtering all these ideas and deciding on the ones that will really make a difference.

In larger companies there is a paradox. A structured organisation requires processes and rules, and these are the natural enemies of innovation. I have run many workshops in large companies instilling ‘the entrepreneurial mindset’, and it is sometimes an uphill struggle. Common complaints from the delegates are “nobody actually listens to us” and “we can’t make a difference”, so the first part of the session involves getting everyone motivated and explaining that good ideas come from anybody and everybody, not just the extroverts, the noisy ones.

We are all creative in different ways; in fact, the best new business ideas often come from the quiet ones in the room, who observe, reflect and consider before making their contribution. The skill in running such a workshop is making sure these people get heard.

When people do come up with plausible ideas, I suggest that they try them first in ’stealth mode’, backed up by an internal sponsor, a senior person in their company who can cover their back, if necessary. The mantra for entrepreneurship in large companies is “never ask for permission, only ask for forgiveness afterwards”.

Alternatively, you can always take that great idea and run with it yourself; maybe 2008 will indeed be your big year, after all. If you have identified a problem out there, all you need to get started is the passion to solve it, your own ‘Wow!’

I asked Paul Dunn about his own personal “Wow!” It’s ‘Buy One, GIVE One Free’, a simple concept. What if every time a Plasma TV was sold, a blind person got the gift of sight? What if every time a book was sold, a tree was planted? What if every time someone dined out, a hungry kid was fed?

Buy1GIVE1Free - now better known as B1G1 - is actually transforming our world. And you can see precisely how it works by taking a look at http://www.youtube.com/buy1give1free . It’s very inspiring. Or to put it more simply: Wow!

You can find ‘Buy One Give One Free’ here: http://www.B1G1.com

You can listen to my podcast interview with Paul Dunn here:
http://www.beermat.biz/all-podcasts.php

 

 

 

 

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December
1
2007
2:56 am
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If you’re producing any kind of professional writing, proper proofreading is essential. As a freelance copywriter, nothing looks worse than if I make a basic error or leave in a typo. So here are my tips for getting it right

  1. It’s a tough job. So get someone else to do it. Especially as a fresh pair of eyes are more likely to pick up what you’ve missed. Once you’ve written something down, it can be hard to read what you’ve written clearly. Instead, you only see what you intended to say.
  2. Failing that, wait a few hours or preferably till the next day after you’ve written it before you proofread your own work.
  3. Avoid distractions - try and proofread in a quiet environment.
  4. Read what’s written aloud to help spot missing words or dodgy phrases.
  5. Common errors include inconsistencies of style, changing tenses, extra spaces, different font sizes, irregular line spacing or other formatting and repeated full stops.
  6. Put yourself in your target audience’s shoes. Are you really clear in what you’re saying?
  7. Be suspicious of every word if you want to catch all the mistakes.
  8. If you tend to make the same errors, be extra careful when you’re checking those particular words or phrases.
  9. Check and check again. Professional editors may proofread a piece up to ten times.
  10. Be especially vigilant when it comes to any text in capital letters - it’s harder to spot upper case errors.
  11. Print out pages for the final check - it’s often easier to see errors on paper than on screen.
  12. Never, ever just rely on your computer’s spell checker. For one thing, it can’t work out what spelling is right for a particular context - “two” or “too”, “who’s” or “whose” and so on.

Happy poofreading! (Whoops.)

© Peter Wise

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October
8
2007
9:23 am
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Part 3

This is part 3 of a 4 part series that we will be running on the Work Connexions blog.

“86% of businesses with a blog credit blogs with generating more business opportunities”

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September
6
2007
4:37 pm
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Work Connexions can offer 2 services for blogging. A standard blog entry, and platinum blog entry. The difference between the types of blog entry is significant. The standard we will do in house, and the platinum is done by a professional PR company. We recommend going down this route as it will enable your Company to build up content for your website, marketing materials, packaging etc. It is a very controllable system at prices one can afford.

 

Prices per blog entries:

Standard: £20

Platinum: £30

 

If you buy 10 blog entries we will do 10 percent discount. Contact us for more information using the Contact Us page.

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August
13
2007
4:32 pm
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There is a lot of hype written about new technologies and new media of communication. These include the internet, the part of the internet called the web, and the new forms of communication and commerce that have taken up what the new technologies offer. Some predict a brave new world, while others, often making more or less the same assumptions, warn of dire consequences – just as people did when television was invented, and aeroplanes, and steam locomotives. So, what is it about these new (and they are still very new!) forms of interaction and representation, that creates all the fuss?

One useful perspective comes from a combination of psychology and history.  It has been argued by ‘cultural psychologists’ that the ways people think and understand the world, in any culture or historical time, are basically shaped by the means of communication that are used. This includes language itself, but also pictures, tools, artefacts, writing systems (literacy), and the inventions of print, mass media, and now the internet.

The idea is that these are not merely new ways of communicating the same old messages. Rather, new media, new forms of representation and communication, create new forms of thinking, knowing and acting – often going way beyond what anybody could have predicted at the time. The invention of literacy (the ability to read and write), for example, is widely credited with making science possible, and the kinds of analytic, logical reasoning that go with it, and education, and democracy – indeed, the modern world. Psychologist David Olson suggests that “what we call intelligence in our culture is little more than a mastery of the forms of literate uses of language.” The argument extends to include other invented forms of representation – pictures, diagrams, mathematics.

So, the way we think and understand isn’t just something going on privately inside our heads. It is the use of symbols, forms of communication, whose origins are in the public domain. These kinds of ideas have had a profound effect on the practices of education over the last couple of decades. Kids, who used to be silenced for ‘talking in class,’ and required to operate as a collection of individual minds, are to be found talking, communicating, sharing actions and ideas. Classrooms are much noisier places than they used to be. The emphasis is shifting from what individuals know, towards how understandings are shared and communicated – a more ‘social’ and communicative concept of intelligence.

One way to understand how new media produce new forms of thinking, is in terms of ‘affordances’. Different media of communication have different affordances – that is, they possess features that make possible, and provide for, different kinds of action, social interaction, and thinking. Take literacy, for example. Writing isn’t just like talking, except that it’s written instead of spoken. We don‘t write like we talk – except maybe when doing a formal lecture, but that’s parasitical on the written word (in fact the word “lecture” is derived from the Latin for reading). The sheer fact of writing something down makes it available for storing, record keeping, formulating definitive version of things (originally, stuff such as land ownership, contracts, and the word of God).

Once something is written down, it becomes available for repeated scrutiny and comparison. And that generates an interest in truth and precision, in the relationships between one statement and another (logic), in contrast to speech which is produced on and for its moment. Literacy makes education possible. It makes displacement possible – we can read what Plato and Einstein wrote, long after they are gone. This, of course, was happening a couple of thousand years before the invention of film and audio-tape, which have affordances of their own, and create still further possibilities.

Internet communications, websites and blogging can also be understood as providing new affordances for communication and how we relate to each other. These are just the latest in a long line of new technologies and media of communication, that have given rise to new possibilities of communication and understanding. About two and a half millennia ago, in the ancient world, the increased access of significant numbers of people (not just priests and scribes) to systems of writing gave rise to new kinds of philosophy and science. When print was invented, the painstaking copying of manuscripts (monks hand-copying the Latin and Greek bible) became a mass production of the written word.

With widespread literacy and print came new practices of education, democracy, an explosion of information, whose sheer availability was itself important. Exploiting those possibilities came political pamphlets, newspapers, the widespread availability of critique and opinion, along with commercial uses; the same copied message could reach thousands of people. Think of the differences between theatre and cinema – and how the affordances of each medium creates something new, and massively influential, beyond the dreams of the technology’s inventors. They take on a life of their own, as their new affordances are developed and exploited. And of course, the new uses to which they are put create new demands for technological invention.

Then came radio’s ability to reach millions with the spoken word, so we were back to the emotional immediacy of  voices and music, but now with a reach to outstrip even the printed word. Again, there were new implications for government and politics, and for commercial life. Hitler knew and exploited the power of film and radio for propaganda and conformity. At first, ideas were sold like soap powder – the product that washes whiter. But things soon became more subtle. Hitler’s propaganda minister, Josef Goebbels, was a great admirer of Hollywood.

Forget the crude images favoured by Adolf for promiting anti-Semitism – Goebbels appreciated the power of Hollywood not only to sell adventure and romance, but along with them, the American way of life, the values and aspirations that motivated political and commercial life, the pursuit of achievement and self-improvement via the marketplace. And it could all be done by the back door, the background understandings needed in order to follow how the West was won, how Harry met Sally, or how Harry met Voldemort. Those are images and interests on which to hang anything from politics and morality, to the desires that a marketplace can provide for.

These days, of course, the marketplace has a new, immensely powerful medium in which to work, with new affordances still being defined and developed – the internet.  The effects are not easy to predict; there will be developments that can now only be glimpsed, new uses and consequences of electronic communication that, like the political consequences of the printing press, were not imagined at the time of its invention.

But much of it will be, and already is, grounded in the unique combinations of features that the medium ‘affords’.  The ability to almost instantly send or post text and pictures, to a virtually unlimited number of recipients (like radio, at almost no extra cost compared, say to a mail shot), but quickly and informally like on the telephone, yet arriving in mailboxes or available online even when the target reader/viewer isn’t there to receive it, just like letters in the mail, and unlike talk on the phone or radio, but massively faster and more extended in reach.

As we’ve seen already with mobile texting, there develop different kinds of language and social interaction, different opportunities, different ways and bases and organizations of time, for knowing and relating to people. So the affordances of the new media start to shape the messages that they carry,  and the social and commercial functions of those messages, while the requirements of messaging feed back into the design of new technologies.

Generally, new media share some features with older media, but introduce new elements. Web sites are a bit like billboards, except that billboards stay put and don’t come to you, in your home and office. And each one has to be separately put up and paid for. Both these media may have nuisance value and be easy to ignore, but again, it is the deeply different affordances that make the huge differences in functionality. With web information it is so easy to stop and take an interest, the content is easy to update and alter, it is immediate, interactive, available on demand, and leads on, at the user’s whim and convenience, to wherever the links may take them.

I’ve hardly mentioned television yet – that massive shaper of the cultural and commercial life of the last century.  Television’s impact on what people came to experience, know, and buy, can hardly be overestimated. And again, like the internet, it has had it champions and critics. But very few of us have managed, in the modern world, to live without it.

For the content providers, TV provides a way of reaching millions of people, although rather indiscriminately, and with the same fixed message. For commercial providers, paying for air time, that message must be short and sweet. It hugely expands the affordances of radio, but is similarly mostly non-interactive, passively consumed (or ignored, or unseen), contains dubious and hugely limited information content (I am referring to commercial advertising here), is very expensive, and is no match for the ‘further exploration’ affordances that web links provide to their users. With e-commerce, there is no big premium, and no standardization or restriction, on time spent by users, nor on the sheer bulk of available content. Those who discover that content can browse, explore, and do business there and then. So it matters, that web content is made readily available and attractive.

One other useful concept, this time from social sciences, is what sociologist Erving Goffman called ‘footing’. Communication often isn’t just a message sent from person A to person B. Even in everyday talk there are various ‘communication roles’ that may be combined or sub-divided, and these roles are reflected in the division of labour by which commercial messages reach their targets. Normally, in conversation, a speaker is the author, constructor, and deliverer of what they are saying. But sometimes a message from ‘A’ to ‘B’ may be delivered by ‘C’, and even formulated by someone else, ‘D’. Goffman called these roles the Principal (corresponding to A), the Author (C), and the Animator (D). Usually, these are the same person; we are mostly the constructor and deliverer of our own messages. But it is a very exploitable device, to separate them, as when governments or individuals use agents, agencies, and spokespersons of various kinds – whether in relaying gossip as hearsay (‘It’s not me saying this – I’m just the messenger’), or conducting a political interview (Paxman will quote other people rather than claim views as his own), or employing commercial staff, or a solicitor, or publicity agent.

The internet provides its own categories and resources for ‘footing’, as we learn to use and develop its special technical ‘affordances’. We see these in specialized services such as web designers, advertising copy writers, and a range of agencies who can expertly Author and Animate the Principal’s message. If you want to reach people via the web, it will probably pay you to pay an expert to do it for you. It’s no use having something to say, or something to offer, if you are not reaching the right people, or enough people, or not framing it to best advantage, nor making it attractive in its own right, like Hollywood.

Visit Derek Edwards at http://www-staff.lboro.ac.uk/~ssde/index.htm

 

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May
18
2007
3:55 pm
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Chris Brown asked, “How do you get more productive with your creativity or stay productive and creative?” My immediate answer’s quite simple… Challenge your brain because the brain leaps to the adventure of unraveling puzzles and problems. When folks mine rich resources of their brain to solve problems they’ll be more productive! How so? They use more gifts and talents at work. Why then, doesn’t that happen more?

Chris Brown asked, “How do you get more productive with your creativity or stay productive and creative?”

My immediate answer’s quite simple… Challenge your brain because the brain leaps to the adventure of unraveling puzzles and problems.

When folks mine rich resources of their brain to solve problems they’ll be more productive! How so? They use more gifts and talents at work. Why then, doesn’t that happen more?

Interestingly, one barrier is bosses or CEO’s who see themselves as boosting productivity, while in reality they stifle job satisfaction. Misplaced efforts to improve worker morale tend to lessen productivity according to research at University of Michigan. The secret is to empower peoples’ gifts and talents.

Amazingly, MITA strategies worked to increase my personal productivity in ways that changed who I am. Here’s a brief overview with links to provide deeper insights for the five MITA steps that jumpstarted my brain and led to productivity in career and more satisfaction in personal life as well…

Question… Ask questions that connect you personally to problems. That process guides your brain to solutions or new opportunities. Such questions might begin “What if I…” “How might I change…” “What would happen if I tried…” You get the picture.

TargetMake a plan that initiates solutions or strategies for the outcome you have in sight. I began to work smarter and not harder by using short term benchmarks and jotting them in my weekly calendar so I kept progressing toward the overall target.

ExpectWhat do you expect anyway? Your expectations must be clear and not foggy or nothing gets done. I wrote down exact descriptions for best end results. Do you seek excellence as I do?

Move What personal resources contribute to the target you have in mind? Most people automatically dip into one or two intelligences used on the job. Some leaders compartmentalize gifts and talents used at work. For instance they use verbal and logical intelligences to tackle tasks day in and day out, so they miss seeing a project through bodily-kinesthetic or interpersonal lenses. To look at your job differently is often to draw on new talents. When you tap into new intelligences to tackle old projects, watch for rejuvenated results!

ReflectReflection leads to growth and change that steps you back to see what’s working and what isn’t. That leads to adjustment opportunities along the way. Without reflection, each new flight you take traverses the same path and engages the same components. Ellen Weber, who created the MITA model, claims if reflection is left out, stagnation results. How does reflection guide your productivity?

Many folks want research evidence to know that MITA strategies work. Recently, PhD University lecturers in Ireland, began using MITA strategies as they taught and assessed university students in medical settings. Research conducted in 2006 showed that professors using MITA strategies had 5% increase in student motivation and achievement. Similar results hold true in business settings.

Whether blogging, writing articles, having fun with grandchildren, or keynoting to university faculty, I discovered MITA strategies bring productivity in all facets of my life.

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May
16
2007
3:48 pm
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In this business and indirect monetization blogging series I have been talking about how you can use blogs to gain attention and generate sales leads. Now we should really take a look at some examples. Here are five great blogs that sell.

english cut: bespoke savile row tailors

 

Just take a look at this quote.

Because the diary was so full we didn’t get to meet as many new customers as normal. I did think that we wouldn’t take as many orders because of this. However my existing clients kept re-ordering. Thankfully in the end I was busy as ever. I’m very fortunate to now have brilliant people working for me, which makes my average part in the process seem highly skilled. As I’ve said before, you can cut the best suit in the world but if your tailors are poor, then you’ve got no chance.

Read it over again and just be aware of your thoughts as you process what he has written there. In one paragraph he has informed you that

  • His service is in demand
  • But he is humble and real
  • There is scarcity of availability so you had better get your order placed
  • Customers are so happy they come back and back
  • He has some excellent people working with him

That’s just one snippet from one post. Imagine if you had subscribed and read 7 articles, 20, or more.Would you feel nervous ordering a bespoke suit from this guy? If I ever need to wear a suit again I know what suit I would like it to be!

The Dip by Seth Godin

 

No “great blogs” list is complete without an appearance from The Godin himself so let’s get his entry out of the way early on. Again, see how you can say so much without any hard sell at all …

It’s a Catch-22 of course (you can’t be a hit until you’re a hit). If you’re in an industry with no bestseller list, do your best to create one. The Dip just hit #1 on the CEO READ daily bestseller list, by the way

Let me translate; “Here’s a useful tip and, oh, by the way buy my book cuz it’s dashizzle”.

Jeffrey Zeldman

 

Most web designers will have heard of Jeffrey Zeldman, or at least “A List Apart”. In terms of designing with web standards this man is a hero. Therefore while he doesn’t explicitly sell, all that authority has got to work wonders for his design outfit, Happy Cog …

Jeffrey is the founder and executive creative director of Happy Cog™, a web design agency with offices in New York City and Philadelphia. Clients include Advertising Age, AIGA, and Amnesty International USA. Happy Cog publishes A List Apart for people who make websites; a book series is in the works.

If your boss wanted some kick ass standards based design, and you were one goof away from being fired, I think you would be very confident recommending this agency.

Guy Kawasaki

 

Guys blog is an example of what to do when your product is you.

If you read more of my blog, you’ll discover that I love mantras (as opposed to mission statements). My mantra is: Empower entrepreneurs I try to do this three or four times a week with my blog, one hundred times a year with my speeches, two to three times a year with Garage’s checkbook, and once every three years or so by writing a book.

His wisdom, experience and expertise oozes out of every bit and byte. He sells just by, well, being. There is a saying; “Lions don’t need to roar”.

Woot

 

It’s all well and good showing you blogs that sell intangibles, what about someone who makes money selling real stuff? Ever heard of Woot?

Woot.com is an online store and community that focuses on selling cool stuff cheap. It started as an employee-store slash market-testing type of place for an electronics distributor, but it’s taken on a life of its own. We anticipate profitability by 2043 – by then we should be retired; someone smarter might take over and jack up the prices. Until then, we’re still the lovable scamps we’ve always been.

People sign up to the RSS, they see interesting product, they stampede to buy before the offer goes away. Every day. The copy is irreverent, casual and chatty not aggressive, the design is elegant and fun, the community is buzzing, and the products are interesting. Woot was launched July 12, 2004 and sold its 1,000,000th item, a 4GB micro hard drive, on February 5, 2007.

Over to you

 

That’s the end of this series for now, though of course I will still be covering these topics every day in one way or another. I want to hear from you. Do you have comments, suggestions, questions, example blogs I have missed, do you disagree, agree, like, dislike, or… well, just let me know in the comments ok?

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May
15
2007
12:11 pm
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A Blogging carnival is a world web phenomena where bloggers that are doing interesting or exceptional blogging can get free publicity with in their own work sphere. It is similar to a magazine, in that it is dedicated to a particular topic, and is published on a regular schedule, often weekly or monthly. Each edition of a blog carnival is in the form of a blog article that contains permalinks links to other blog articles on the particular topic. If you would like to participate in the next Work Connexions blog carnival or synchroblog (Synchronised Blogging, or synchroblog, where a group of bloggers agree to post on their own blogs on the same broad topic on the same day.) then drop us an email to info at workconnexions dot com or leave a comment in the blog entry of this news.

Some business blogs

BusinessPundit

Blog Business World

Business Blog Consulting

business2blog (Business 2.0’s blog)

Fast Company Now

John Battelle’s SearchBlog

The Entrepreneurial Mind

Fresh Inc. (Inc. Magazine’s Blog)

Small Business Trends 

 

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May
7
2007
3:37 pm
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Guy Kawasaki writes: “Since I’ve antagonized the venture capital community with last week’s blog, I thought I would complete the picture and “out” entrepreneurs to begin this week. The hard part about writing this blog was narrowing down these lies to ten.” “I get pitched dozens of times every year, and every pitch contains at least three or four of these lies. I provide them not because I believe I can increase the level of honesty of entrepreneurs as much as to help entrepreneurs come up with new lies. At least new lies indicate a modicum of creativity!”

  1. “Our projections are conservative.” An entrepreneur’s projections are never conservative. If they were, they would be $0. I have never seen an entrepreneur achieve even her most conservative projections. Generally, an entrepreneur has no idea what sales will be, so she guesses: “Too little will make my deal uninteresting; too big, and I’ll look hallucinogenic.” The result is that everyone’s projections are $50 million in year four. As a rule of thumb, when I see a projection, I add one year to delivery time and multiply by .1.
  2. “(Big name research firm) says our market will be $50 billion in 2010.” Every entrepreneur has a few slides about how the market potential for his segment is tens of billions. It doesn’t matter if the product is bar mitzah planning software or 802.11 chip sets. Venture capitalists don’t believe this type of forecast because it’s the fifth one of this magnitude that they’ve heard that day. Entrepreneurs would do themselves a favor by simply removing any reference to market size estimates from consulting firms.
  3. “(Big name company) is going to sign our purchase order next week.” This is the “I heard I have to show traction at a conference” lie of entrepreneurs. The funny thing is that next week, the purchase order still isn’t signed. Nor the week after. The decision maker gets laid off, the CEO gets fired, there’s a natural disaster, whatever. The only way to play this card if AFTER the purchase order is signed because no investor whose money you’d want will fall for this one.
  4. “Key employees are set to join us as soon as we get funded.” More often than not when a venture capitalist calls these key employees who are VPs are Microsoft, Oracle, and Sun, he gets the following response, “Who said that? I recall meeting him at a Churchill Club meeting, but I certainly didn’t say I would leave my cush $250,000/year job at Adobe to join his startup.” If it’s true that key employees are ready to rock and roll, have them call the venture capitalist after the meeting and testify to this effect.
  5. “No one is doing what we’re doing.” This is a bummer of a lie because there are only two logical conclusions. First, no one else is doing this because there is no market for it. Second, the entrepreneur is so clueless that he can’t even use Google to figure out he has competition. Suffice it to say that the lack of a market and cluelessness is not conducive to securing an investment. As a rule of thumb, if you have a good idea, five companies are going the same thing. If you have a great idea, fifteen companies are doing the same thing.
  6. “No one can do what we’re doing.” If there’s anything worse than the lack of a market and cluelessness, it’s arrogance. No one else can do this until the first company does it, and ten others spring up in the next ninety days. Let’s see, no one else ran a sub four-minute mile after Roger Bannister. (It took only a month before John Landy did). The world is a big place. There are lots of smart people in it. Entrepreneurs are kidding themselves if they think they have any kind of monopoly on knowledge. And, sure as I’m a Macintosh user, on the same day that an entrepreneur tells this lie, the venture capitalist will have met with another company that’s doing the same thing.
  7. “Hurry because several other venture capital firms are interested.” The good news: There are maybe one hundred entrepreneurs in the world who can make this claim. The bad news: The fact that you are reading a blog about venture capital means you’re not one of them. As my mother used to say, “Never play Russian roulette with an Uzi.” For the absolute cream of the crop, there is competition for a deal, and an entrepreneur can scare other investors to make a decision. For the rest of us, don’t think one can create a sense of scarcity when it’s not true. Re-read the previous blog about the lies of venture capitalists, to learn how entrepreneurs are hearing “maybe” when venture capitalists are saying “no.”
  8. “Oracle is too big/dumb/slow to be a threat.” Larry Ellison has his own jet. He can keep the San Jose Airport open for his late night landings. His boat is so big that it can barely get under the Golden Gate Bridge. Meanwhile, entrepreneurs are flying on Southwest out of Oakland and stealing the free peanuts. There’s a reason why Larry is where he is, and entrepreneurs are where they are, and it’s not that he’s big, dumb, and slow. Competing with Oracle, Microsoft, and other large companies is a very difficult task. Entrepreneurs who utter this lie look at best naive. You think it’s bravado, but venture capitalists think it’s stupidity.
  9. “We have a proven management team.” Says who? Because the founder worked at Morgan Stanley for a summer? Or McKinsey for two years? Or he made sure that John Sculley’s Macintosh could power on? Truly “proven” in a venture capitalist’s eyes is founder of a company that returned billions to its investors. But if the entrepreneur were that proven, that he (a) probably wouldn’t have to ask for money; (b) wouldn’t be claiming that he’s proven. (Do you think Wayne Gretzky went around saying, “I am a good hockey player”?) A better strategy is for the entrepreneur to state that (a) she has relevant industry experience; (b) she is going to do whatever it takes to succeed; (c) she is going to surround herself with directors and advisors who are proven; and (d) she’ll step aside whenever it becomes necessary. This is good enough for a venture capitalist that believes in what the entrepreneur is doing.
  10. “Patents make our product defensible.” The optimal number of times to use the P word in a presentation is one. Just once, say, “We have filed patents for what we are doing.” Done. The second time you say it, venture capitalists begin to suspect that you are depending too much on patents for defensibility. The third time you say it, you are holding a sign above your head that says, “I am clueless.” Sure, you should patent what you’re doing–if for no other reason than to say it once in your presentation. But at the end of the patents are mostly good for impressing your parents. You won’t have the time or money to sue anyone with a pocket deep enough to be worth suing.
  11. “All we have to do is get 1% of the market.” (Here’s a bonus since I still have battery power.) This lie is the flip side of “the market will be $50 billion.” There are two problems with this lie. First, no venture capitalist is interested in a company that is looking to get 1% or so of a market. Frankly, we want our companies to face the wrath of the anti-trust division of the Department of Justice. Second, it’s also not that easy to get 1% of any market, so you look silly pretending that it is. Generally, it’s much better for entrepreneurs to show a realistic appreciation of the difficulty of building a successful company.

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