New for now

New Product

That’s the only kind of new there is.

Unlike used, old, established, tested, discarded or broken, new is always temporary.

Tomorrow, we start over and you get another opportunity to do something new if you choose to.

Is there any other market that open?

 

The Garbage In, Garbage Out Buffer

GIGO

Computer wonks like to talk about garbage in/garbage out. A simple example: if there’s a mistake in the way a blog post is encoded, many XML/RSS readers will choke on it, preventing all future posts from showing up.

The IT guys put up their hands and say, “well, if you did not have a lousy character, it would not have broken… GIGO.”

That’s not resilient.

The work of the middleman is to inspect and recover. If your restaurant gets lousy fish from the boat, you don’t get to serve it and proclaim garbage in garbage out. No, your job is to inspect what you get, and if necessary, change it.

If the school board gives the teacher lousy instructions, the teacher can easily put up his hands and say, “I’m just doing my job.” The great teacher doesn’t do that, of course. He provides a buffer between the administrators and the his real customers, the students.

If a receptionist is given a handwritten letter to type, she doesn’t just type it out with the original spelling mistakes on the paper, she applies her mind and correct spelling on the document. She doesn’t say I am following instructions and typing exactly what I was given.

Entrepreneurs are not thermometers (just measuring and the telling the temperature), they are thermostats (they adjust the temperature to the desired set-point).

There will always be garbage in. It’s up to you as to whether or not there will be garbage out.

Being better than free

your-content-has-to-be-better-3

How do you compete with something that’s being out for free? How does a wedding photographer or a travel agent, someone who used to make a good living performing a task that was hard to do without them, compete against ubiquitous free alternatives?

There’s only one way: Sell something better than free.

Make a product or provide a service that’s worth paying for.

You don’t need a better way to talk about what you do, or a better marketing and advertising gimmick, or a better social media strategy. In fact, you need to reinvent and rebuild what you make for a new reality, a reality where paying for something is an intentional act of buying something way better than the free alternative.

I’m sorry if this seems obvious. It’s apparently not obvious to all the frustrated people I encounter who are still trying to sell the old thing in a new market.

Two kinds of loyalty

Love-and-loyalty-1024x768

The first kind of loyalty is the loyalty of convenience.

I’m going to look around, sure, but probably won’t switch. Switching is risky, it’s time consuming. Switching means a new account manager or moving my software or reprinting something. Switching means I might make a mistake or lose my voyager miles or have to defend a new decision.

Companies are getting ever better at building this sort of loyalty of convenience

Then there’s the other kind of loyalty. This is the loyalty of, “I’m not even looking.”

This is the loyalty of, “I’m the kind of person that sticks with people who stick with me.”

This is the loyalty of someone who does not even want to know that there is a better deal somewhere else, because, after all, he is in it for the long haul.

The problem with the loyalty of convenience is that the customer is always tempted to look and look some more, and the supplier is always working to build barriers, barriers that don’t necessarily increase satisfaction, but merely build a wall of hassle around the (now) trapped customer.

We don’t have a common business term for this sort of feeling, but ‘stuck’ comes to mind.

The beauty of the second kind of loyalty, the loyalty of identity and satisfaction, is that the person who is not even looking is committed, as committed to the relationship as the supplier is. You earn this sort of loyalty, you don’t architect it.

You can only focus on creating one sort of loyalty at a time.

What kind of loyalty are you building for your customers in your business?

Entrepreneurship => impact

Kevin

More often I hear people say the next Mark Zuckerburg will come from Africa or that the next Twitter will be from Africa. With respect I don’t necessarily think that Africa needs the next facebook or twitter. I think Africa has unique challenges and African innovators and entrepreneurs need to come up with innovations that will solve those challenges. We face challenges of clean water, sanitation, education, food security, infrastructure, crime etc.

Africa doesn’t necessarily need innovations that will serve social contemporary consumption. Africa needs innovations that will solve social challenges. Innovation that will have the necessary required impact.

Innovation is something else entirely. Many entrepreneurs use an innovation to make an impact, but the hard part, the part that we are rewarded for, is engaging with the user, the audience, the market. Bringing something to people who didn’t think they wanted it, know about it or initially welcome it, and make a difference.

One reason it’s so difficult to teach entrepreneurship is that we are not teaching tactics or skills. We are not teaching spreadsheets or finance or even marketing. No, when we encourage entrepreneurship, we are actually trying to get people to the place where they care enough and where they are confident enough to stand up and try to make things change.

Don’t tell me what you invented. Tell me about who you changed.

#GEW2014 Sunday: Book Review – Leaders Eat Last by Simon Sinek

Leaders Eat Last

Just finished reading Leaders Eat Last by Simon Sinek. If you are into leadership and entrepreneurship, I highly recommend it. In a world of highly corrupt leaders in business, public and civil service where we are surrounded by greedy bankers, entrepreneurs, and corrupt politians, Simon reminds us what true leadership in the 21st century is all about.

The following are some of the top ten nuggets I took from the book:

1. “If your actions inspire others to dream more, learn more, do more and become more, you are a leader.”

2. “If our leaders are to enjoy the trappings of their position in the hierarchy, then we expect them to offer us protection. The problem is, for many of the overpaid leaders, we know that they took the money and perks and didn’t offer protection to their people. In some cases, they even sacrificed their people to protect or boost their own interests. This is what so viscerally offends us. We only accuse them of greed and excess when we feel they have violated the very definition of what it means to be a leader.”

3. “And when a leader embraces their responsibility to care for people instead of caring for numbers, then people will follow, solve problems and see to it that that leader’s vision comes to life the right way, a stable way and not the expedient way.”

4. “Truly human leadership protects an organization from the internal rivalries that can shatter a culture. When we have to protect ourselves from each other, the whole organization suffers. But when trust and cooperation thrive internally, we pull together and the organization grows stronger as a result.”

5. “Children are better off having a parent who works into the night in a job they love than a parent who works shorter hours but comes home unhappy.”

6. “I know of no case study in history that describes an organization that has been managed out of a crisis. Every single one of them was led.”

7. “Every single employee is someone’s son or someone’s daughter. Like a parent, a leader of a company is responsible for their precious lives.”

8. “Returning from work feeling inspired, safe, fulfilled and grateful is a natural human right to which we are all entitled and not a modern luxury that only a few lucky ones are able to find.”

9. “All the perks, all the benefits and advantages you may get for the rank or position you hold, they aren’t meant for you. They are meant for the role you fill. And when you leave your role, which eventually you will, they will give the ceramic cup to the person who replaces you. Because you only ever deserved a Styrofoam cup.”

10. “It is not the genius at the top giving directions that makes people great. It is great people that make the guy at the top look like a genius.”