Be part of something

When I started a 5 years ago I had no idea it would grow into something much bigger. In fact, the entire industry has been written about by Rachel Botsman in her upcoming book “What’s mine is yours“. She coined the phrase Collaborative Consumption to describe what is happening in our hyper connected world. Rentoid is featured in the book and this little video below, which makes me a bit proud.

It’s cool to launch a startup to make money. It’s cooler to be part of something bigger than your startup.


Worldometers are great

I’m really loving the worldometers website. It’s a list of global statistics which are updated in real time

Not only is it a very interesting, but it is a terrific resource for entrepreneurs and marketers alike. No matter what your business you could grab some statistics from it to open the mind of your audience in a presentation. For example:

If in the distribution, health, food business we could present this statistic:

Undernourished people in the world = 1,026,904,563

Overweight people in the world = 1,153,103,026

Which shows that there ‘is’ enough food int he world, it’s just in the wrong places. It’s a distribution issue.

If in the eco energy, or environment industry we could share the following:

Energy used worldwide today = 422,173,999 (MWh)

Solor energy striking the earth today = 39,886,999,999 (MWh)

Showing that we have the 40x the natural resources needed, we just need to harness it.

In fact, the way we could use these statistics is limited only to our imagination. And when we are presenting to audiences, it’s their imagination that we should really be trying to inspire.


6 things I learned in 2 years

Guest Post – Young Melbourne Entrepreneur Josh Moore has shared the thoughts from his young untainted mind!

Here is a list of lessons I have learned from two years in the entrepreneurial community:

1. Networks are everything: The most important thing in entrepreneurship is the people you meet. You will learn more by being willing to listen to others, which compounds your experiences without having to make the mistakes yourself. They can also help you to get jobs more easily, and can recommend you to potential clients. Don’t underestimate the people you meet.

2. Save: Entrepreneurial ventures are high risk. Having a buffer of cash will help cover you when income is bad. I’m in the process of stepping out of an active role in one of my investments as it drained my savings account by $6,500 in twelve months, as it was not paying me enough income and I had to fund the gap with something. Better to have savings to draw upon than to go back into debt.

3: Ignore the bells and whistles: You don’t need a fancy website. Steve’s blog is simple but gets the core message out. Find the core of your business and ignore the rest. If you don’t you may spend too much time and money on things that don’t matter. Don’t spend money on costly legal structures and don’t risk your money on untested markets. Spend time instead and invest money when you know you’re likely to succeed.

4: Have a timeline to failure: If you start doing something, have a timeline for it not to work. If you want to start a little side business on the side to make $1,000 in the next six months, then use that as your KPI. If you can’t reach at least 80% of that milestone then walk away before you invest more time and money into something that is not working.

5: Read: Reading is the only real way to gain an information advantage in your area. An information advantage helps you to be seen as a leader in your industry, and also allows you to make better investment decisions. Never invest in anything you don’t know better than the back of your hand.

6: Personal development: Continue to work on yourself every day. Practice, be willing to try things and don’t be afraid of failing. I wanted to learn about NLP and couldn’t swim, so I took courses on both earlier this year. I write in my spare time to clarify my thoughts and to reflect on what I’ve learned.

What lessons have you learned from your entrepreneurial endeavours? Leave a comment and help the community gain from your experiences.

Mixing it up

I’ve decided to run a few guests posts on startup blog.

I’ve never done this before and on the surface it my seem to lack purity. But here’s what I think.

The blog isn’t about me, it never has been. It’s about providing valuable information to those interested in the topic (startups, entrepreneurship, marketing). Which the guests posts will do. Heck, it might even facilitate spreading the startup blog word a little further and connect a few people…. Yep, that would be cool.


Selling a vision

Aj Kulatunga of  Dream Build Inspire Lead asked me via twitter the following question:

Quick advice. #1 Tip for selling a vision ?

So I thought it was worth sharing the answer here because the answer had to be delivered in less than 140 characters.

It’s about their vision, not yours. You need to demonstrate what’s in it for them. Not you. Let them own it. Perceived co creation.


Espousing others

In world of media proliferation it’s becoming harder to get someone, anyone, let alone our target audience to listen. A better way than blasting our own foghorn is to espouse others. Something I’ve seen a lot of smart startups do lately is become brand advocates. That is, take a lead role in communicating, promoting and essentially spreading the love for other companies whose values we feel aligned to. It’s even better if we all move in the same entrepreneurial circles. Though it doesn’t have to be this way.

When we share great stuff other people are doing it rubs off on us. Just like proper referencing does in academia. We need to find stuff other companies are doing that we think is worth sharing. Ideas we think rock and companies with cultures we admire.

This is my current love list of other Startups & SME’s

Some of which even loosely compete with each other. This is fine in my view as often the biggest challenge we have in startup land is market development. Helping our competitors, though counter intuitive, can also benefit us. It get’s more people interested in the space, generates mainstream media coverage and can increase market size. This type of thinking would have been a sackable offense in my old consumer goods marketing days. The world has changed.

We’ve always been told it’s better to give than receive and the on-line world is the greatest exemplar of this theorem. It’s also a super way build significant brand credentials and trust. When people trust what we have to say by introducing them to other cool stuff it gives us a chance at gaining our own momentum.