Business Development

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9
Oct 09

How to be Interesting with Baking Soda and Crayons

What do crayons and baking soda have in common? Or, what does Arm & Hammer have in common with artist Christian Faur?

Christian Faur is known for his use of Crayola crayons to make stunning art–not in the traditional sense, however. No paper is involved. Faur uses the blunt end of many crayons to make images; much like digital images are made of pixels.

Let’s take a look at baking soda now. Baking soda is an essential ingredient in many baking recipes. For Arm & Hammer, the baker market was limited. A & H asked, how can we sell more baking soda? The absorbing nature of baking soda sparked an idea: it’s a deodorizer! Put A & H in the refrigerator to neutralize those foul odors. Brilliant, million-dollar idea.

Arm & Hammer and Christian Faur both took an everyday product and mashed it together with creativity and innovative thinking to create a whole new product. Crayons are not only for drawing, nor is baking soda just for baking. It is taking that creative leap that can make new products out of old ones.

Consider the uses of your product, service or talents. How can they be stretched in new directions?

Photo by Kasey Albano

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4
Oct 09

Testing Your Chicken Piccata

Excited to try out my new meat mallet (?), I planned to cook chicken piccata. I’m not a great cook, but an aspiring one. I pounded out the chicken, then cooked it in a pan with white wine. As the wine boiled down, I added more until the chicken was cooked.

Though the breaded outside was more like a doughy crumbling shell, it didn’t look terrible. My expectations were very low for my chicken piccata. Since it was my first time making it and stretch outside of my skill level, what could I expect?

As I sat down eat my somewhat mangled looking piece of chicken, I began to feel like maybe I wasn’t that bad of a chef after all. At least it was in one piece. After I took a bite, my confidence dissolved and was replaced by nausea. Yes, I managed to cook chicken that tasted like death. I settled on peas and rice and tossed the chicken.

Unfortunately, some products and services are like my chicken piccata–no one did a taste test before they were sold on it. Had I spent a minute to check the sauce to make sure it wasn’t too acidic, I could have pulled it off. Unfortunately for me, I was too rushed and busy with washing the dishes and making the rest of the meal. I trusted that everything would go to plan.

Before an important project, whether it’s a new product or ad campaign, test the waters. Gaining some perspective in the near-term will save you from regretting your blind faith in the long-term.

Fortunately for me and the rest of the world, I am not a restaurant chef. There was only the sacrifice of having a vegetarian dinner. For entrepreneurs and industry professionals, much more is at stake. It is your career, reputation and money. Just because you might be rushed or pre-occupied doesn’t mean you would want to leave all of that up to chance, would you?

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2
Oct 09

Preventing Power Outages

A toaster, air conditioner, coffee pot, computer and everything goes black. I’m still getting used to a new apartment building. It was formerly a hotel about a hundred years ago. When the electrical engineer designed the power grid, they did not count on supplying the energy to all of my electrical devices.

It was rather funny because I’ve never maxed-out the power before–as I’ve always lived in updated apartments. I couldn’t figure out what was going on. Did I pay my electric bills? Was there a widespread outage earlier that morning? It took maintenance two seconds to solve my problem: restart the breakers.

Entrepreneurs face similar challenges. Press releases, social media, interviews, distribution, financials, business plans, marketing plans are some of the many tasks an emerging entrepreneur confront. Managing the chaos is challenging and exhausting.

Just as my toaster, air conditioner, coffee pot and computer burned-out my electrical supply, don’t let all of your responsibilities snuff-out your flame. It’s about being realistic. You cannot do everything at once, so prioritize and figure out what needs to be done and in what order. If you try to tackle everything at once, you’re going to have a power outage.

Consultants are a fantastic tool to help you gain perspective and prioritize. As they often have years of industry experience and know-how, they can take an objective look at where your goals should be and how you can get there.

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29
Sep 09

Keeping your Head in the Paper Disco

This paper disco animation video is fantastic. From a conceptual and craftsmanship perspective, this short gets an A+. Not only is it fun to watch, it’s awe-inspiring because the amount of time that went into its production is incredible.

Stop motion animation is a great example of how burgeoning entrepreneurs should look at their business in the long term. There are hundreds of images in the paper disco animation—thin slices that when put together, create amazing entertainment. The same goes for entrepreneurs. There are hundreds of decisions you have to make—all culminating in the success of your enterprise. The incredible labor that goes into a business plan, the investor presentation, hundreds upon hundreds of conversations and hours poured into your business actually means something.

In the middle of the chaos in the entrepreneur’s world, it’s important to monitor your progress and take notice of your incremental success. To see your tireless efforts are paying off can keep you grounded. The occasional pat on the back is worthwhile in a world where you’re constantly fighting to grow your business.

There are of course many ups and downs in the process, but if you take a moment to reflect, it can give you a piece of mind and illustrate your impact. It can help you survive the Dip. Adding one element at a time, eventually your company will grow into a full-on disco.

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27
Sep 09

Tele-Menus and Removing Steps

In preparation of my big move to Philadelphia, PA, I have to call utilities companies to either cancel or begin service. Not the most exciting task, but necessary none-the-less. This means a lot of phone calls which translates into a lot of free time listening to elevator music.

Surprisingly, the first four calls I made, I went through one or two tele-menus and was put in touch with a representative. The luck spree could only last so long. I found myself typing tens of numbers into my phone in order to navigate my way to a representative, who then asked me for everything I accomplished in the tele-menus. Then, I would be directed to another department.

This is not a unique story by any means. My plight can be shared by many, but there is such a difference between one or two menus and even three or four. One or two is tolerable, but more than that is very frustrating. It is the difference between one menu and three is satisfaction and frustration. On the phone for so long, you have to wonder if the people orchestrating the tele-mess enjoy such narcissistic pleasures.

Essentially, tele-menus create unnecessary steps. It’s one thing to wait, it’s another to navigate through menus. Consider what steps are between customer and your product or service. Are any unnecessary?

Consider the difference between Mac and PC. Mac is ready after the first power-up. A PC is a different story. Every time your PC wakes up from a sleep, pop-ups ask unnecessary questions, bombard your screen and slow whatever you’re doing to a halt. Mac was able to take out unnecessary step to create a user-friendly experience, while Windows did quite the opposite. Removing steps can save an enormous amount of hassle and retain customers. How can you eliminate one or two steps?

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24
Sep 09

“The Homer” and Finding Your Market Opportunity

Season 2, episode 15, Homer Simpson reunites with his long lost half-brother, Herb–a captain of the auto industry–in the “Oh Brother, Where Art Thou?” episode. Sick and tired of cliche, boring cars made by high-end designers, Homer’s brother asks him to design a car for the everyday person. He cedes his control to Homer, with an “anything goes” attitude.

Homer explores every gluttonous pleasure to design a $82,000 car (dubbed “The Homer”) for the “everyday person.” Equipped with tail fins, a bubble dome and three horns that play, “La Cucaracha,” the touted car of the future is a hideous monstrosity of a vehicle. The auto maker goes out of business and bankrupts Herb Simpson.

Without the middle men, Homer had free reign to do whatever he pleased. Why not put a tail fin on a car? It looks cool, right? No one could answer this question in the planning stages. It was only when the car made it to the showroom was the question answered. It is cool, right?

Had Herb kept the marketers, brand managers, research and development teams, he would be able to answer that question. No, Homer, no one thinks it’s cool. You are the only one that would want to buy such a hideous car, but couldn’t afford it.

As CEO, Herb had a strategic vision of where the company should be heading. Up until his encounter with his brother, he relied on that vision and had met success doing so. When he reunited with his brother, Herb abandoned that vision, cut out the “middle men” and ceded total creative control to his dim-witted brother.

Had Herb kept his team, they could guide Homer to a practical solution. As you launch new products and services, make sure there is a market. Is anyone going to say, wow, that’s cool? Just because you really think it’s an amazing idea, it’s critical to have a marketing opportunity and target audience to support your ideas and ensure they are viable. Last thing you want, is “The Homer” in your display case.

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22
Sep 09

Why a $18 Shoe is Worth More Than a $200 Shoe

Searching for a new pair of pants at Urban Outfitters, I found myself buying a new pair of shoes instead. I bought the cheapest shoes in the store. They smelled like chemicals and looked like Keds, so why buy them?

I am somewhat of a shoe aficionado. I have a $200 pair of Campers in my closet beside my $18 UO Ked look-alikes. I’ve worn my Campers about four times in the past year. I wear my $18 Urban Outfitter shoes almost every day. Though they smell like chemicals, I’m not scared to wear them. I know that if the canvas rips, I can have another pair shipped to my house in the next couple of days. My $200 pair, however, well… if even a scratch marks the leather, I’d be devastated. I get $200 out of my $18 shoes, whereas just the opposite is true for my $200 pair of shoes.

Interested in buying the same shoe in a different color (maybe blue…), I went to UrbanOutfitters.com. Navigating through the hundreds of shoes takes too much time, so I chose the “most reviewed” filter. Out of the hundreds of shoes, there were my $18 Ked look-alikes at the top of the page. I don’t know how many pairs UO sells of the $18 shoes, but people like talking about them.

I too, like to talk about them. When I see some of my friends, I might try to slip my cheap-looking shoes into the conversation.

Yes, pricing probably has something to do with the reviews, but the fact that they are different is what makes them worth talking about. They stink, they are flimsy and they kind of hurt your feet. The actual materials and labor are worth $18, but the feeling of wearing them makes you want to tell someone or write about it.

The UO shoes are worth talking about because they are different, while accessible. Asics are amazing shoes (I’ve had mine for over three years), but no one wants to talk about them. They don’t dare to be different. It’s the $18 stinky shoes that make people to talk. You don’t need to be flashy or expensive to make a buzz; you need to be different and accessible.

Business Development — 1 Comment
16
Sep 09

Inventing Problems and a JumpSnap to Solve Them

JumpSnap is a jump rope without the rope. Essentially, you wiggle your wrists while jumping up and down. While doing this, you hold onto a JumpSnap—a bulky device that makes noise and tries to motivate you to keep jumping. How is this different from turning on some dance music and jumping? Why do you need to purchase JumpSnap to do that?

The difference between great inventions and those like JumpSnap is great inventions solve a real problem whereas products like JumpSnap try to create a problem and solve it.

Before you enter a market, be sure there is a real problem. Intuition can often tell you whether there’s a problem; however you cannot always rely on gut feelings. What market research is there to back your claims?

Once you’ve tested the market waters, get customer feedback. Do not assume your solution is the end-all, be-all. Often times you will need to make product or service tweaks before you get it right.

Before you decide to spend money either launching an enterprise or new product, consider if there is a problem that needs solving. If there isn’t either, well… you’re just another JumpSnap.

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15
Sep 09

(Almost Perfect) Sautéed Business

Menus sometimes get overzealous with their said ability to constantly deliver perfect. Menu copy, such as, “perfectly sautéed onions,” or “toast, grilled to perfection” is funny in a way. Does anyone really believe the onions are going to be perfectly sautéed, every time?

Though we all might strive to be perfect we are all fallible beings. Don’t over promise and under deliver.

The same is true with your value proposition. In communications with your customers, do you say, “we always deliver outstanding results” or “we will continuously deliver returns?” Be careful about words like always or continuously (unless you’re running a Ponze scheme, in which case you’re right about the always language).

If you use the “always language,” you’re making unbelievable claims. And unbelievable claims results in a weak and unsupported value proposition. If you have a weak value proposition, what makes you better than the next company?

Though all companies would like to deliver perfectly sautéed onions, every time, because we all are fallible and not gods, “always language” should be an aspiration, not a deliverable.

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