This might sound crazy, but there are companies out there that say: "We're not looking at revenue models right now, we're just trying to build an awesome product." One might be tempted to respond: "Money makes business fun and you should try to make some money now." If you are looking to build a small business, the quickest way to a dollar is often the best path to choose. When building a startup with high growth potential focusing on dollar signs early could become your killer. Thinking that you can disrupt an entire industry takes time and is a crazy idea that often requires a counterintuitive strategy.
When putting together a business plan you may focus on the price of the good or service, doing enough research to think (rather confidently) that if you make it and sell it for a profit, you win. Successful business launched. Who knows when you'll hit capacity.
Know that there are different mindsets working in the business community. Validated learning and customer feedback can be much greater long term than the fastest path to a buck. The quickest path to your customer is the smart decision if you want to build something that will be useful to the largest audience. The more customer interactions the better and paying customers can be harder to find than early adopters. Give it away for free, so that price is not a barrier, and gain the feedback that makes the product more awesome over time.
It's hard to get people to understand the mindset of a startup entrepreneur. Someone that doesn't just want to be self-employed and have enough money to live. These are the people that have a crazy level of passion for building something that could change the world and positively impact the most people possible. I find the most joy in thinking I can change the world and if I fail, I fail. Trying the hardest I can possibly try to be the most awesome I can be is far more enjoyable than just being self-employed or collecting a paycheck. There is more to life than a dollar.
Wednesday, March 27, 2013
Friday, March 15, 2013
Next Generation Schools
This week, as part of The Billy Madison Project for TransformEd, I got to sit in on a few high school classes. I wasn't a guest or a visitor, I was a student. I got the same assignments and was expected to do the same work.
In English class I was on the edge of my seat as the teacher introduced the kids to Pixton, a Click-n-Drag Comics™ technology that allows anyone to create comics. When he announced the assignment as: "I want you to get into Pixton, mess around and make something" I must have been visibly giddy. An English teacher introducing a technology and encouraging kids to create something had awesome written all over it. Later in the class, he handed out copies of Maus by Art Spiegelman and I thought I might embarrass myself with my enthusiasm. Inside of 30 minutes, I got that adrenaline rush you get when you are so overwhelmed with excitement that you have a hard time articulating a cohesive thought.
Next generation schools must help kids explore creativity and give them opportunities to experience new things by encouraging the maker mentality and having them take action. The kids in this class wanted guidance on how they were going to be graded but this teacher could hardly wait to see what these kids would create when given access to a technology as powerful as Pixton. How do you put a grade on creativity?
Pixton is one of many things available with the ability to transform education. A spark of creativity and the encouragement to use your imagination are all you need to create something way beyond awesome. Now go get after it!
In English class I was on the edge of my seat as the teacher introduced the kids to Pixton, a Click-n-Drag Comics™ technology that allows anyone to create comics. When he announced the assignment as: "I want you to get into Pixton, mess around and make something" I must have been visibly giddy. An English teacher introducing a technology and encouraging kids to create something had awesome written all over it. Later in the class, he handed out copies of Maus by Art Spiegelman and I thought I might embarrass myself with my enthusiasm. Inside of 30 minutes, I got that adrenaline rush you get when you are so overwhelmed with excitement that you have a hard time articulating a cohesive thought.
Next generation schools must help kids explore creativity and give them opportunities to experience new things by encouraging the maker mentality and having them take action. The kids in this class wanted guidance on how they were going to be graded but this teacher could hardly wait to see what these kids would create when given access to a technology as powerful as Pixton. How do you put a grade on creativity?
Pixton is one of many things available with the ability to transform education. A spark of creativity and the encouragement to use your imagination are all you need to create something way beyond awesome. Now go get after it!
Tuesday, March 12, 2013
What is a startup mentor?
A startup mentor is a person that gives their time and knowledge to a startup with the sole purpose of improving the startup community and the greater entrepreneurial ecosystem. A startup mentor doesn't have a contractual obligation to the startup to provide the service and has every right to end the relationship if the value proposition is not significant.
I don't think there is a shortage of potential or prospective startup mentors. I do believe there is a shortage of active mentors. I believe much is lost for want of asking. I believe many successful business people would be eager to serve as startup mentors if they were simply asked. There is a way to create events within a startup community that would increase participation from experienced entrepreneurs and help them learn how their expertise is a critical need for economic development.
People sometimes consider the lines between mentors, advisors, and investors to be blurry. I think anyone with money and connections can become an investor. Anyone with connections can become an advisor. But the real value proposition needed to build a thriving startup community is found in bringing a large number of startup mentors to the table. These are people that aren't asking for an equity stake in exchange for money or knowledge. These are people eager to give back to the community. People that take pride in their town and want to see others succeed. A great startup mentor answers the call and aligns themselves with entrepreneurs that see a ton of value in the mentor's past experiences. A great mentorship doesn't need to take up a lot of time and will put the shared knowledge to practical use.
We can do a lot in this world and most of us know we can't do it alone.
Friday, March 8, 2013
Learning To Pitch
An essential skill for any entrepreneur is public speaking: learning to convey a message clearly and effectively in various (and sometimes uncomfortable) settings.
Really, anyone needs to get their personal brand message together in a way that they can explain who they are and what they do in a very concise way. When given a specified amount of time to explain who you are and what you do, you should be prepared to use that time wisely.
In the environment of an entrepreneurial ecosystem you will eventually find yourself in a situation where you have less than 30 seconds to make a point. Sometimes you get a minute and sometimes you get five. Never will you get an infinite amount of time. You don't get to stumble through your message and expect positive results.
So pitch and pitch often. Practice, and work your way through the message until it's clear and you can convey the message clearly in virtually any setting. Find an audience that is willing to provide you with critical feedback. An audience with experience listening to pitches is ideal. Every successful startup community should have regularly scheduled events that provide a platform for people to pitch ideas. If you don't have one, start one.
Really, anyone needs to get their personal brand message together in a way that they can explain who they are and what they do in a very concise way. When given a specified amount of time to explain who you are and what you do, you should be prepared to use that time wisely.
In the environment of an entrepreneurial ecosystem you will eventually find yourself in a situation where you have less than 30 seconds to make a point. Sometimes you get a minute and sometimes you get five. Never will you get an infinite amount of time. You don't get to stumble through your message and expect positive results.
So pitch and pitch often. Practice, and work your way through the message until it's clear and you can convey the message clearly in virtually any setting. Find an audience that is willing to provide you with critical feedback. An audience with experience listening to pitches is ideal. Every successful startup community should have regularly scheduled events that provide a platform for people to pitch ideas. If you don't have one, start one.
Wednesday, March 6, 2013
Ewing Marion Kauffman Foundation
The Kauffman Foundation is beyond awesome for a myriad of reasons, not the least of these is the Kauffman Sketchbook.
Their Foundation focuses on Education and Entrepreneurship and is at the top of any game around. Anyone interested in either of these subjects needs to take some time to dig into the foundation, its mission, and what it is doing to influence policy, promote innovation, and make a positive impact in the world around us.
If you want to get a taste of what they are all about- here's a link to 19 of their Sketchbooks. You'll get just enough to get you going but what you do with the information is up to you.
It's time to get going. The only one stopping you is you.
The 20 Year View
Imagine if all the successful business people in your town felt an inherent obligation to give back to the community as startup mentors and advisors. Imagine if they took their stories into K-12 schools, colleges and universities.
Long before a young, inexperienced entrepreneur really needs money to accelerate their idea they need knowledge. Anyone trying to get exposure to the world of self-employment needs to spend time listening to the people that came before them and hear the stories of the successes and failures.
Too often people see successful people and the businesses that have been built to last as something unobtainable to the average person. This is false. The earlier we start educating our kids on the vast array of options available to them, the better these future generations will be. A future filled with leaders: the hackers, makers, movers, and shakers.
What does a startup community need to succeed? One thing is inclusion. That means everyone gets a seat at the table and can join in the conversation. Brad Feld refers to including the entrepreneurial stack in his Boulder Thesis. In my opinion, that starts with kids.
Long before a young, inexperienced entrepreneur really needs money to accelerate their idea they need knowledge. Anyone trying to get exposure to the world of self-employment needs to spend time listening to the people that came before them and hear the stories of the successes and failures.
Too often people see successful people and the businesses that have been built to last as something unobtainable to the average person. This is false. The earlier we start educating our kids on the vast array of options available to them, the better these future generations will be. A future filled with leaders: the hackers, makers, movers, and shakers.
What does a startup community need to succeed? One thing is inclusion. That means everyone gets a seat at the table and can join in the conversation. Brad Feld refers to including the entrepreneurial stack in his Boulder Thesis. In my opinion, that starts with kids.
Monday, March 4, 2013
Isaac's Idea Book
My 9-year old has been obsessing this weekend over a Rube Goldberg machine. He gets frustrated when it doesn't work but tinkers and toils along for hours just the same. If you haven't heard of a Rube Goldberg machine, let's turn to Websters for a definition:
So, belly up to YouTube and watch a few videos on these inventions and then go around the house and fill a box with a bunch of whatever stuff you can find and then help your kid design their own Rube Goldberg machine.
Isaac's Idea Book is a place for him to document his invention ideas. After participating in Invent Iowa this past year the interest in finding solutions to problems has become something he is constantly considering. The engine of creativity, when sparked in a child, is hard to turn off. I'm a pretty lucky guy to get to witness innovative awesomeness on a regular basis from the comfort of my own home.
Subscribe to:
Posts (Atom)