Start Up Blog

2 unrelated questions worth asking

Posted in entrepreneurship by Steve Sammartino on September 3, 2014

Motorcycle ride across asia

The journey we are on is often associated with some goal at the end point. But what if the end point was now? What if we took a thought experiment and pretended the journey was unnecessary? Let’s do that and ask ourselves these two seemingly unrelated questions:

  1. How would you spend your time if you had 6 months to live?
  2. How would you spend your time if you were a billionaire?

I won’t try and answer these for you, but I’m reasonably certain you’ll find two things. Many of the answers overlap, and that many of the things cost very little money. In the end we remind ourselves that the ultimate asset is time.

Ok, I couldn’t resist to give personal answer here: I know I’d want to invest more time with my family, immediate and wider, and do those projects were the business model is fun and not financial. Oh, and all those billionaires we hear about…. they’re probably off on treks riding motorcycles across China. Something which requires very few zeros in a bank account.

New book – The Great Fragmentation – out now!

What we get paid for

Posted in entrepreneurship by Steve Sammartino on August 29, 2014

Screen Shot 2014-09-04 at 12.00.34 pm

What we actually get paid for is all the work we did yesterday, and the day before that, and the year before that. In fact, what we get paid for is the work we did when no one was watching and no one was paying.

The average success story

Posted in entrepreneurship by Steve Sammartino on August 27, 2014

While success is in the eye of the beholder, I heard an interesting fact recently about intelligence and financial independence.  And that fact was that the vast majority of financially independent people have average or below average intelligence. We are talking here about raw intellectual capability. This would seem counter intuitive to everything we are taught to believe in school, the corporate world and life. That we have to be ‘smart’ to accumulate financial advantage. Turns out the opposite is true and social researchers put it down to one simple thing:

“People of average intelligence are not overly impressed with how clever they are.”

Sounds like a silly thing to say, but it gives average people like you and me a big advantage. It means that we know we have to work hard, and maybe even a bit harder. And it also means that we don’t think we know everything already and so we have on open mind to learn new things and methods.

Turns out that some of the key factors in the success equation are about being average.

My favourite entrepreneur hacks

Posted in entrepreneurship by Steve Sammartino on August 25, 2014

I recently did I podcast with a friend Murray Galbraith who runs Dads.co – a place for dads to share and celebrate being a rad dad. I was particularly happy with the chat we had as it covered many of the important parts of being a dad, and being independent economically. I really think it’s some good ear candy. You can listen to it here.

Also, this Wednesday night I’ll giving a talk at the Entrepreneurs Club in Melbourne, about how to transition from employee to entrepreneur. I’m really excited about this one as I’ll be sharing my top 10 “Hacks of Independence” to help you escape the drudgery of corporate cubicle life. It’s free and you should totally come and share some ideas with other like minded individuals. Details are here.

NEW BOOK – THE GREAT FRAGMENTATION – ORDER HERE!

What you know vs Who you know

Posted in entrepreneurship by Steve Sammartino on August 16, 2014

I remember growing up having people tell me it’s all about who you know in life and business. I always thought it was kinda weird that it could work in your favour by just knowing people who could help you, especially if you happened to be a fool. Surely domain knowledge mattered more? And here is what I found out, they both have value.

But what has even more value is when we use which ever we have more of to improve on the other. This tends to happen when we learn from those we’re lucky enough to know, or use our knowledge to help whoever we meet.

NEW BOOK – THE GREAT FRAGMENTATION – ORDER HERE!

It’s already been done, or has it?

Posted in entrepreneurship by Steve Sammartino on August 14, 2014

As soon as we think of an amazing startup idea the first thing we often do is trawl the internet to see if someone has already built the app, the service ,the hardware device. We want to know if it has already been done. Oft times, we are deflated to find out it has been. But if we have to search, has it really been done? If no one knows about a concept in market it raises a lot of interesting questions:

Did they execute well against the idea?

Is their product good, but the distribution poor?

If the distribution is poor, does that mean the product is actually bad?

If the distribution is poor, does that mean it’s not solving a real problem?

If the distribution and product are both good, are the switching costs too high?

Did the team have the right funding?

If they had the funding is the timing too soon – is the market ready?

The truth is we’ll never be able to answer these and other questions. And so it brings us back to the very first moment of inspiration. We thought it was a great concept and maybe that is enough. We know most things change their shape in the development process anyway. Maybe we should build it regardless of what is out there. Build our version of how things could be. Remembering of course that most fortunes are made with old ideas done better. Property is the oldest business in the world and still to this day creates the most millionaires. Even Youtube, a new kinda business, arrived when there were already over 400 video sharing websites (that we know of).

It’s another reminder our world is big on ideas and small on execution.

NEW BOOK – THE GREAT FRAGMENTATION – ORDER HERE!

The tale of 2 bathrooms

Posted in entrepreneurship by Steve Sammartino on August 11, 2014

I spend a fair amount of time in large corporations – helping them transition from the industrial era to the technology era. I’ve come to the conclusion that sometimes you can see the future of the organisation based on subtle hints in the physical environment. And hence the title of this post. Two different organisations I visited had signs on their bathroom cubicle walls which told me all I needed to know about these companies and their prospects.

Bathroom 1

“Did you bring your best self to work today? Can you show us something new and amazing we haven’t thought of?”

Bathroom 2

“Please leave the toilet the way you found it.”

Both of these signs tell me so much about the culture of the organisations in question. Whether or not an opinion is valued, whether contributions should be original, what they think about rules and following instructions. But most of all whether they regard their staff as adults or children. The second is interesting, because it also infers that if there’s a problem, you should definitely not take any responsibility to improve things.

Let’s also remember that someone had to think of these, decide it was what the company valued, print them and put them up…. this isn’t just a slight office quirk, it’s a public display of deep corporate values. The reason I decided to point this out is because if there has ever been a time in business when doing things as they were done before is a dangerous tactic, that time is now.

New Book – The Great Fragmentation – order here!

The Autonomous Corporation

Posted in entrepreneurship by Steve Sammartino on August 7, 2014

Docklands Library

Tonight I’ll be doing a presentation at the amazing  building above. The new Docklands Library – a library…. the original internet of knowledge transfer. It’s for the Future Crunch event, and I’ll be doing a talk I’ve never done before: The Autonomous Corporation: It’s kinda Star Trek. A short 20 minute presentation which will cover a few of these thought jams:

Language is a technology

Corporations are a form of technology

Technology removes human labour

Technology is designed to  serve humans

Technology is a form of biology

Corporations need to serve humans… again

I’ll leave it at that for now. After the talk we’ll have a Q and A session and chat.  But join me tonight for some thinking time on how to build better commercial ecosystem for living. Meet some interesting people, leave the TV and chores at home and explore your mind. It should be fun.

New Book – The Great Fragmentation – order here!

Back to anthropology

Posted in entrepreneurship by Steve Sammartino on August 6, 2014

Things are changing so rapidly that we are again suffering from future shock. It’s hard to comprehend the pace of change, not just to business or pop culture, but to the way we live our lives. We’ve had for the best part of 100 years, certainly the last 50, a very stable business infrastructure and lifestyle. This makes us feel as though the changes we see are new to the human experience, when in fact they are only new to the experience of our generation. To understand it, we need to take an anthropological view of business and relearn the lessons we forgot, that other generations already learned. We need to lose our immediacy bias and review how our species has coped with radical change before.

None of this is new in the human sense, just the industrial sense. As the industrial era transitions into the technology era it’s worth worth taking a look at what happened when had epoch shifts in the past.

New Book – The Great Fragmentation – order here!

Guess what will be the most advanced tech device in your house in 2025?

Posted in entrepreneurship by Steve Sammartino on July 31, 2014

It won’t be your phone, laptop, television, car, your micro electricity storage grid, your thermostat or your fridge. It will be your toilet.

You may not have expected that. It will be a top of the technology chain looking after the most important thing in our lives – our health. Nothing is more important, and it just so happens that sensor technology is entering an inflection point where dramatic technology advances will change medicine and health as much as germ theory did.

All forms of technology in our connected world are under going rapid price deflation. Power is increasing and prices are dropping exponentially. The technology inside the technology is also benefiting from the same pattern of accelerating returns. This means that many vital sensors, like those found inside the 1.75 billion smart phones which have already been manufactured, have prices at the disposable level. Mere cents on the dollar. It’s this era of disposable technology that will drive the web of things era. But what it also means is that powerful high end technology is on the same path. Technology that would once have only had a place in a high end laboratory will very soon have a place in our bathrooms. It’s a pattern we’ve already seen with consumer and media based technology and widgets.

You’re toilet will become a a micro testing lab which will keep track of your health so that you don’t have to. It will include sensors of every type, measuring every kind of human feedback possible – all integrated and web enabled.  It will have a DNA code of all of the members in a household, their health records and constantly be testing human waste for any anomalies which might not end well if left unchecked. It will know you are sick, or about to get sick long before the symptoms arrive. It will create a tracking timeline of changes in your  health over long periods and provide the ultimate in quantified self.

It will weigh you every time you sit down, and use micro sweat to determine your daily levels of body fat and blood sugars.

It will talk to your doctor, and provide a much better assessment of what’s going on than you do when the doctor asks your those very important questions you can never remember the exact answers to.

It will have a convivial relationship with your fridge and cupboard and know what’s stored in it and what actually gets eaten. It will have a similar relationship with your kitchen and ovens.

It will make auto suggestions to your shopping list when you’re down on vitamin c, or protein or calcium, and post red flags with other items you’ve scheduled for delivery which are not in your best interest.

It will certainly track your movement via your smart devices (watch, phone and other wearables) and know what type and frequency of exercise you’re getting. It will update the shopping list to include the right foods for your level of movement and nutrition needs.

It will assess the health of your skin through the seat and track sun exposure. It will be linked to your shower which will take daily photos of your skin to check for dangerous sun spots.

In fact, it will do much more than this.

This then raises all sorts of important questions about which previously unrelated industries should be collaborating with each other. If Plumbing and medicine start to matter to each other and packaged groceries and white goods matter to each other, then you can be certain there’s an industry you haven’t thought twice about that will start to matter to you. And probably quicker than you think.

Our toilet will be the smartest device in the house, looking after the most important things in your life, your health and your family. It’s another reminder that technology is neither good or bad, but a tool we can choose use to make life better and even extend it.

New Book – The Great Fragmentation – order here!

 

 

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