People are very time poor, or maybe just a little impatient. Regardless of which it is we have to be able to tell our story quickly.
Vanguard Investments do it in 2 seconds. Click here to see how they do it. (Watch the animation)
Even this chart below tells the story on long term ‘index’ investing. Of which Vanguard are the founding forefathers.
The recent downturn is a best a ‘blip’.
How long does your startup story take to tell? Here’s a tip – we’ve got a few seconds at most.
(insert your choice here)
Which one is correct? Well, it depends on a lot of things, like speed, budget and even why you are going…. Are you walking to Sydney on fitness or political campaign?
It’s easy in to judge strategy from the sidelines, especially when we don’t understand the constraints or objectives.
In startup land our paths will differ. What matters is if we get to Sydney, and if we did it in the manner which suited us.
Steve – rentoid.com
I took this quote from Seth Godins latest micro book Tribes:
“Do you beleive in what you do? Every day? It turns out that belief happens to be a brilliant strategy”
This resonates with me because it will motivate us to find solutions that ‘non believers’ will be too inept, apathetic or bored to uncover.
Entrepreneurs ought launch something they beleive in conceptually, not just financially.
Sometimes we convince ourselves in the early days of our start up that the fun stuff is most important. Yes it’s seriously important, and it’s partly why we decided to leave the cubicle.
But the biggest reason we left cubiclesville was because we wanted to win. We wanted to do something, change something, prove something and achieve success which other corporate plankton couldn’t claim on our behalf.
That said, we ought ask ourselves this:
Is what we are doing Game Changing?
Will what we are spending investing our time on today be the thing that ensures we win the game in our web domain, category or industry?
Fact: When Youtube launched there was over 450 other video sharing websites. Youtube won video sharing for these reasons:
1. They had the simplest user experience
2. They had the most videos uploaded
So – are we investing our day on Game Changing activities, or just passing time?
Well, why not behave the same way in which wealthy countries do. It’s a very simple formula:
Invest in health care & education.
The 3 wealthiest countries in the world by GDP per capita – Luxembourg, Norway & Switzerland, have outstanding healthcare and education systems which are largely government funded.
The two most valuable assets you can ever have are your health and education. If we’re healthy we can do anything. If we educate ourselves, we can always find ways to generate income.
For those about to argue about about wealth not being ‘economic’…then please refer again to what these countries invest in. Financial wealth is the outcome, not the driver.
Our experiences shape our views. Maybe even define us as a person.
We have opinions.
Occasionally these opinions might hold us back from the ‘discovery process’. The process which leads us to our objectives being achieved.
When our opinions conflict with our objectives we must choose. Choose which of the two is more important to us. Do we want to hold onto our opinions, or achieve our objectives?
It’s rarely a simple choice. Often one of ethics. Sometimes one of admitting fault, changing direction, making mistakes, or possibly stepping on others. There is no right answer, just an internal choice.
A starting point may be taking the course that will help us sleep at night when we’re 84.
Start up blog mantra:
Bring forward investments
Know the difference between the two. If unsure, ask.
We were told that our business was a great idea. A super concept.
So we went for it.
Then we started work on the blue prints, and they looked great. Everyone said it was a sure thing.
So we built it.
Then once it was built everyone was in awe of how we took it from concept to reality. They told us we we’re sitting on a gold mine of potential, they starting asking us what life would be like when we made millions, if we’d still be their friends!
So we marketed it.
Then all new and potential customers loved it and told us how they’d buy it and tell everyone. sell it for us and keep coming back for more.
Then we realized there was a lot of brick walls between enthusiasm and reality. A lot of brick walls between a great idea, and that great idea becoming a great business.
There was a lot of brick walls. Walls which were hard to climb. Walls that almost ‘consumed us’ to the point of forgetting the easy, early days of enthusiasm.
These walls are put here to test us. They are asking us if we really want it. They are in fact our best friend. They make climbing over hard, and keep the pretenders out. Those who don’t really want it (maybe competitors?)
We ought thank the walls.