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July 21st, 2008, 07:02 AM #1If you are going to sink, you might as well spend the $7 million in VC first
Shows that good ideas to those who have access to VC funding need to have more than just good ideas.
July 21st, 2008, 08:21 AM #2
Ouch. I'm pretty sure I could make something happen with 7 mil to get it started with.Following everyone else is a GREAT way to become average.
July 21st, 2008, 09:31 AM #3
Affiliates are ROI people, focusing almost all day, everyday, on how to make profits. We're not suited well for the VC climate, they work on spending angel / seed money to get a bigger investor, rinse lather and repeat, a different approach to making money. Placing your entire bet on one idea is a very risky path, as evidenced by the very few companies that do find success this way.
I'd call this the classic "home run" versus "base hit" analogy, but there's an injustice done there to baseball as well, because the percentage of home runs per at bat is much higher than succesful startup buyouts per startup...
I think if you aim for base hits in business, your chance of finding success is many times higher than swinging for home runs... and... every great once in a while, you may hit a home run anyhow. I don't mean having lower standards for excellence, I mean aiming for stellar performance that does exceed above average expectations, just not dopey, whacky dreamscape thinking. After 7 million and the company's purpose escapes explanation... somebody had an wii in their office...
Great article here that's relevant to what effective builders (of products or comapanies) should be doing with their time...
+focused on achievements that are meaningful and effective
+goal oriented and outcome oriented, in a way that's very different from podtech article above
+teamwork used to it's full potential
+problem solving's primacy leads the way
(4 page article, all 4 pages are worth reading)
PM runs this article now and then, after updating it for the things the group has achieved. It's the story of engineers trying to tackle some of the worlds most pressing problems. It's inspiring and, in my opinion, is a good path for many companies too. There's nothing wrong with profiting from developing and executing solutions to problems, in fact, the rewards of capitalism are it's greatest good, the driving force to improve things for others. So while this online PM article isn't about marketing, it is about offering their "customers" a better way. Do that commercially, and the money will flow in spades.
I thought of this article today, because the paper version of the article listed the design principles that Prof. Smith espouses. These principles were in a side bar in the print article, but the online article lists them separately here:
They all apply to good businesses. I think #3 and #4 are wonderful, it reminds me of people using the iphone today, it's looks so simple to use it. And my mom can do it on the first try.
Simplicity is the ultimate sophistication. (~Leonardo da Vinci)
A little ahead of his time... makes me wonder about the possibility of time travel... then I remember I have concrete things to do this day. :-)
July 21st, 2008, 02:35 PM #4
July 21st, 2008, 03:13 PM #5
Donuts wrote: I think if you aim for base hits in business, your chance of finding success is many times higher than swinging for home runs... and... every great once in a while, you may hit a home run anyhow.
Nail on the head! Patience and step by step long term performance will alway outperform the home run method. Great reads!
July 21st, 2008, 03:22 PM #6
Just finished watching the last of 8 episodes of Start Up Junkies, found at www.hulu.com . Very entertaining. The interesting thing was how all the players seemed to move off to different projects in the end, once the startup was running well enough to be sold off.Following everyone else is a GREAT way to become average.
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