Start Up Blog

Local get together – Book launch

Posted in entrepreneurship by Steve Sammartino on July 28, 2014

As my regular readers would know, I’v recently released a book: The Great Fragmentation – why the future of business is small. Now live and available for sale.

I recently sent an email to some of my supporters and friends inviting them to a shindig to help me celebrate – just some drinks and food among like minds. Then I thought, holy wow, there are no greater supporters than the readers of my blog. You’re all part of my inner circle. Despite the fact that 80% of my readers are overseas, there must be a few out there in Melbourne town. And while some of you already have the invite I’m sure, some might not, and I thought I’d put it up here.

So my dear readers, if you happen to be in Melbourne, or live in Melbourne, then I’d love to shout you a drink and thank you this Wednesday night. A little get together from 6-8pm. It’s in the city and we are being hosted by Michelle Matthews from Deck of Secrets fame, who has probably the coolest warehouse apartment in all of Melbourne. The details of where to come are here. We only have room for around 50 people, so first in first served. It’s kinda risky putting up on open invite, but hey, risk is good. Oh, and the short notice is because, I felt kinda weird having an event where I was the focus, and my buddies (Michelle & Co) kinda just organised it for me. Nice to have friends like that.

Hope to see you Wednesday night from 6pm.

How startups can benefit from the technology paradox

Posted in entrepreneurship by Steve Sammartino on July 24, 2014

A lot of the new technology seems to do the opposite of what it ought to. A kind of paradox is emerging where the solution is so good in the short term, that it eventually eats itself. It solves the problem so well, at such a low price ,that the solution gets buried. Buried deep inside a pool of self perpetuating technology.

Omni social connectedness  –> loneliness epidemic.

Mass amounts of data –> lack of useful insight.

Dropping prices of everything we buy –> increasing debt bondage.

Worlds knowledge mere clicks away –> decline in human wisdom.

Private transport for everyone –> longer travel times.

This list could go on, but you get the picture. It seems like we should revisit the tools every now and again to make sure they’re making life better. And it is from this that the new startup opportunities arise. For every tech rush, there’s a new opportunity in fixing the part of it which is no longer working.

Know who will miss you & act accordingly

Posted in entrepreneurship by Steve Sammartino on July 23, 2014

Let’s imagine something horrible for a few moments. Let’s imagine that you die. That something unexpected occurs and your life is over. The plans you had, the lives you’ve touched would all be thrown into disarray. It is incomprehensible to imagine this, our own death. It’s as if we have this built in mechanism to avoid the mere thought of it. But if it did happen, what would happen at the company you work at? Deadlines would be missed. Some stuff wouldn’t get done. Co-workers would be sad or even shocked. Friends we’ve made would be devastated. There’d be a lot of upheaval, but here’s the over riding reality of you dying and if you work for a large company:

You’d be replaced in 4 weeks.

It’s even foreseeable that the process for replacement would begin the same day the news dropped.

Now let’s compare that to what would happen with your home and family. Lives would be devastated and irreparable. You would never be replaced and the pain of the loss would last a lifetime. Young children would be especially impacted. The hole could not be filled be anyone, anytime, ever.

So why is it that we work late? So why is it we put up with corporate bullying? So why is it we continue to work for jerks for career advancement? Why is it we give large portions of our waking lives to a faceless corporation?  Why would we give an inordinate amount of time and effort to an organisation when the ultimate reality is that we are disposable? The next time you have to make a choice to stay late, play the corporate game and over deliver to corporation  XYZ, and choose between the job and the family, maybe you should think about how they’d act if the unthinkable happened. Once you remind yourself of this you’ll know what choice to make.

It’s another reason why we need to listen to the call to run our own race, and create our own future and for independence. The people who deserve us the most, are those who couldn’t live without us.

 

Why Beacons will become the Pocket Spam of the web of things era

Posted in entrepreneurship by Steve Sammartino on July 22, 2014

There’s a lot of talk about the amazing things beacons will be able to do at retail level. And all of it is true – at least from a functional perspective. For the first time products will be able to directly interact with potential customers at store level. Physical spaces people spend time in will be able to interact with the people inside those spaces. Department stores, farmers markets, concert halls and  football stadiums are all being filled with beacon technology. And it will give birth to a new era of pocket spam. I wonder if what we really need right now is more vendors shouting at us with offers we didn’t know we wanted? I doubt it.

So, here’s the startup opportunity for Beacons which few are focusing on just now.

How to stop them.

Yes, the spam filter equivalent for the intrusive beacon. And I know you’re thinking that this time it’s different, because it wont happen unless we allow push messages. But when was the last time you read all those terms and conditions for a web based service? Often we say yes to something before all the details emerge and when the world was slightly different. It’s our legacy decisions which get taken advantage of.

Often the market for the hotdogs around the stadium is bigger than what is on the main playing field. And there’s always less people watching that game while you set up shop on the sidelines.

How to hack your ‘To Do’ list

Posted in entrepreneurship by Steve Sammartino on July 18, 2014

projects list

To do lists are just one of those things. We know they matter, a lot. We know that having them and following them certainly leads to getting more done. Then why is it, that they tend to get longer and not shorter? It’s because not all tasks are created equal. It’s because our human operating system is a 200,000 year old piece of software not designed for a list based society. Let me explain.

The Urgent and the Important

Generally the things we do can be broken down into either Urgent or Important. If it’s neither of these things it shouldn’t be on the list. Urgent stuff has deadlines and customer requirements and might even be a fire that needs extinguishing. Important tasks are the other things we’d like to do, and know we should do, but very often don’t get around to. We don’t get around to them because they’re well, not urgent. Our DNA is designed to respond to urgent, to fear, to danger. And while urgent tasks don’t mean a sabre tooth tiger is going to eat us for dinner, our emotive reaction is much the same. It’s why fear and urgency most often wins. In a modern, sans sabre tooth tiger world, we need to do the opposite of what our instinct tells us to.

The irony is that the less important tasks we do, the more urgent things pop up. By only doing the urgent we create a perpetual cycle of inefficiency. We start carrying buckets of water to the ‘fire’, instead of building a pipeline and hose system for the time a fire breaks out. If we ever want to get in front, and start hacking our to do list we need to undertake some counter intuitive actions. Are you ready for it?

- We need to miss some deadlines.

- We need to disappoint some people.

- We need to let some urgent things go unattended and go, wrong, break, fail.

- We need to embrace a metaphorical ground zero.

To get started it is worth splitting your do list into two columns: Urgent and Important Tasks – see what gets your attention at the end of each day and you’ll see the trap we all fall into. You’ll also see that important tasks also change their shape and often become urgent later. What we need to do is the important things which build a structure and system to remove many of the recurring urgencies. Once we have to courage to do this, we’ll end up being the people who can respond to urgent, the fewer times they occur. It may even be worth taking secret holiday for a week (pretend to be out of town, off line and on vacation) to get your important stuff in order and start a new pattern.

Happy To Do list hacking!

Top 10 internet stocks – more than 1 trillion valuation

Posted in entrepreneurship by Steve Sammartino on July 8, 2014

In a very short period of time, opinions of anything can change. It wasn’t so long ago that these statements were made about the internet as a commercial platform:

  • It’s for nerds. “Fine, you nerds can do what you want but normal people are never going to use this thing.”
  • It’s completely decentralized, which means you can’t trust it. No business is ever going to do anything on it because businesses won’t work on an untrusted environment. There won’t ever be any e-commerce.
  • There will never be any internet payments. No one will put their credit card on the internet.
  • It’s an open-source kind of thing so there will be no Internet companies.
  • It’s got all these technical deficiencies. It’s slow. It’s unreliable. It doesn’t work right. When you do a search, sometimes you get an answer back and sometimes you don’t. Sometimes when you dial in you get a busy signal.
  • What happen if your ISP goes out of business? Then you can’t get back online.
  • Once you get on the internet, even assuming you get on the internet, there’s nothing to do. There’s no content. Time magazine isn’t online, the New York Times isn’t online. It’s just a bunch of nerd stuff.

These classic soundbites come from Marc Andreessen in a recent interview while referencing those who think bitcoin will never be more than some kind of digital space oddity. While we are on the topic of economic change, it is telling to have a look at the market valuations of the top 10 internet companies. That is, companies less than 20 years old who could not have existed pre dot com. The US top 10 public companies now have an accumulated value of $1.168 trillion dollars.

  1. Google – $585 billion
  2. Facebook – $170 billion
  3. Amazon – $155 billion
  4. Ebay – $65 billion
  5. Priceline – $65 billion
  6. Yahoo – $36 billion
  7. Salesforce.com – $36 billion
  8. Twitter – $24 billion
  9. Linkedin – $21 billion
  10. Expedia – $11 billion

We can also add the upcoming float of Alibaba.com to this at anything between a further $120 to $200 billion.

This takes my mind directly to the potential of 3D printing, web of things and the solar energy industry. All of which are in their 1993 era. The only question remaining for entrepreneurs reading is this; What are you going to do about it?

Practical strategies for sacking your boss

Posted in entrepreneurship by Steve Sammartino on June 23, 2014

I’ve been doing some blogging and work in general for the good people at Pollenizer. My recent focus has been over coming the fear of leaving your job, and things we can do to reduce the risk and make the transition. I’ve written 3 posts in particular which I really think you guys will dig. There’s some links below and a little sound bite for each proving they are worth the 3 minutes each of them take to read. Remember we must first invest in ourselves before anyone will invest in us.

  1. The fast track, zero risk method to becoming an entrepreneur: This post is the ultimate startup life hack – and with a simple trick gets to you on the path to entrepreneurship in an instant. Serious.
  2. Startup training in a low risk environment: here I’ve written about ways you can up skill and help your self transition from employee to startup founder without risking anything. A must for those planning to escape their cubicle in corporate land.
  3. The worst case scenario for failed entrepreneurs: And finally a nice bit of entrepreneurial FEAR debunking, and reasons that taking the leap will not result in anything bad. This one will ease your mind.

Hope you enjoy these mind jams.

 

 

The single truth about viral activity – It’s just scenery

Posted in entrepreneurship by Steve Sammartino on June 20, 2014

The internet is an infinite ever expanding place. We all live inside of it, move around it and want our share of attention and activity from it. The ultimate thing we all seem to want (even if secretly) is to get everyone to pay attention to our blog post, video, social feed, pithy statement of insight and all other forms of digital output. That’s the promise of something going viral. Because if we get that attention, if everyone catches on and shares our work, we’ll be on the path the greatness. We’ll have broken through the masses and be able to leverage the focus on us. Turn attention into a relationship. That’s the promise of being shared on the Verge or Buzzfeed or Viral Nova. But here’s the truth about that piece of viral marketing. It doesn’t work, it rarely has impact and is a fleeting moment, a shooting star, a moment from which the utility is the moment itself. It expires quickly.

What we need to imagine is this. The internet is a giant beach. We are all grains of sand on that beach. Some of us try to be more than a single, undifferentiated grain of sand. We agglomerate, co-ordinate and try and turn ourselves into something worth noticing. Maybe we become a beautiful sea shell. Beautiful enough for the the people walking along that beach to stop and take notice. They might see us, pick us up and inspect the sea shell. Comment on the sheer beauty, show their friend who they happen to be walking along the beach with. We get passed around, and we become the moment. They might even take the sea shell – save it – put it in the pocket and take it home, because it’s valuable – add it to their ‘favourites’. But what we must really understand is that they will keep on walking. The passer by is not there for us. Even if they are walking along the beach (the internet) to see and find interesting things, we can only ever be one of those things that makes their journey interesting. They continue on with whatever it is they are doing and onto their destination.

sea shell

Viral activity, in real terms is just scenery. And I should know. I’ve had a number of blog posts with more than 100,000 views. I’ve had 2 videos with millions of views. And I’ve been featured on all those websites mentioned at the the start of this blog post. And the over riding lesson is that people get on with their lives. Viral marketing is only effective when there is a formula for repeated impact – a business model around it, which is not easy to do. If we want the impact that we falsely believe viral marketing can create, then we’d be better off focusing on utility and frequency. That is creating something which has utility for the people beyond the moment. Utility which is worth coming back for again and again. And what that takes isn’t luck, it’s more about hard work serving others over long periods of time.

 

Relearning what we already know

Posted in entrepreneurship by Steve Sammartino on June 17, 2014

I was recently in an office where there happened to be a couple of Rubik’s cubes laying around. Once upon a time I wasted an inordinate amount of time learning how to solve it. So I said: “Oh, I can solve that.” Adding further that I could do it in 3 minutes, but my best time is under 2 minutes. The cube was quickly handed to me to prove my lofty statement. So I start the solve, got halfway through and completely forget the algorithm – and in ‘under 3 minutes’ I look like both a fool and a fibber.

It reminded me of something important. Just because we have been able to do something in the past, it doesn’t mean we can do it now. Just because we knew something once, it doesn’t mean we know about it now. They only way to stay on top is to continue to practice and relearn what we already do and know. Just because someone ran a marathon once, doesn’t make them a marathon runner now. The things we need to practice the most should be the things we are already good at. Especially when it is a craft we use for income generation.

So after this embarrassing little moment, I went and bought a new cube and got my mojo back. I’ve also made the decision to solve it once a day – just because it’s fun and worth remembering. A bit of grey matter exercise. And for those doubters out there here it is being solved in 16 seconds… ok ok I sped the film up just a little.

For those who are wondering the current world record time for solving is 5.55 seconds.

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A list of things large companies could do without

Posted in entrepreneurship by Steve Sammartino on June 15, 2014

I’ve spent an equal amount of time in large corporates and startups. With the success that large companies have achieved comes an entirely new set of cultures which they could do without. So here is my top 10 list of behaviours large companies could do without:

  1. Public reading events. Organise a room full of people and stop their work to read stuff to them instead of actually providing an inspiring change instigating presentation.
  2. Pre-meeting meetings: Getting everyone ‘on the same page’ – I felt sick writing that… yuck. Time wasting. Have some courage people.
  3. Promoting the best political performers: Ensuring the political champions kick on instead of those making a difference in the market.
  4. Skimp on the product: Remove cost from product instead of having a product in which customers would tolerate price rises for.
  5. Creating information spirals: Gathering more research to reduce risk and avoid making a ‘go’ decision while the market opportunity gets taken by nimble competitors.
  6. Developing slogans instead of getting stuff done: A company I worked for had a new one each year. One was Fewer Bigger Better. It was a great way to justify not doing anything.
  7. Developing internal language: Having a culture of industry jargon, codes and acronyms to create the ‘self aggrandising’ illusion of intelligence. Talking to themselves
  8. Mistake avoidance culture: Creating a fear of decision making, by rewarding staff for not making mistakes.
  9. Penny pinching: Closing the stationary cupboard during a tough year, yet the senior people can still afford those first class trips to international trade conferences.
  10. Global alignment: Ensuring the packaging for Australia is the same as the packaging in Lithuania when the product comes out of different factories and is served in different cultures. Confusing when global focus is a disadvantage.

What’s your favourite piece of corporate folly?

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