I have been paying attention to some of the news and the interviews surrounding the upcoming Snap (Snapchat) IPO and found one with Jason Calacanis particularly interesting (click here to watch). He mentioned that the story of Snap is akin to the story of the artist and the thief placing Snap as the artist and Facebook as the thief. Snap creates and innovates great products and features while Facebook steals them and incorporates them into their own products and features. I was interested in the comment for other reasons. I think its important to know if your business is an artist or a thief because I believe it impacts the financial results and expectations for your company. Continue reading “Is your business an artist or a thief?”→
A few months back our family bought a piano from a local piano refurbisher and after making several phone calls to book an appointment to have it tuned with no response, I decided to stop by the business to see if I could speak with the owner personally. I had met him when we purchased the piano and learned that he had been in business for more than 20 years. On this particular morning when I drove up to the front door it became obvious that the business had shut its doors as the space was empty except for the sign still displayed on the front of the building. Continue reading “It’s a sad day when you learn of a #failedbusiness”→
I was listening to a podcast by Gary Vaynerchuk this morning as he was giving a keynote speech and he mentioned the term “fake math” to define a concept related to marketing and advertising but it stuck me as being completely appropriate for entrepreneurs and business owners. #fakemath tends to be a real problem for businesses that generate less than $25,000,000 in gross revenue. What I mean by #fakemath is the difference between what a business expects to make or achieve and what they are actually making and achieving. Continue reading “Don’t be fooled by #fakemath”→
There are times when a decision or an idea seems to be right. Technically right that is. As life goes on and the decision or idea plays out you can be caught off guard when the results are not what you expected because there were some practical problems that you didn’t consider. Continue reading “Technically right but practically wrong”→
Funny how life works out sometimes. With no expectation at all I ended up having two meetings today: one with a consultant working for a company that is walking on the edge of a cliff and a second meeting with two friends that have recently decided to get into the subprime lending business. One meeting was full of worst case scenarios while the other was full of optimism and huge aspirations. The funny part is that while I enjoyed both meetings immensely I really enjoyed talking with the consultant about the business that is about to go over a cliff. Strange? Continue reading “One business goes over a cliff just as another one starts”→
This week Dylan shares three personal reflections of lessons learned this past week relating to sales. If you are an entrepreneur or business owner you might be refreshed by these timeless lessons that are easy to forget.
“You’re hot one moment and cold the next”. These are words spoken by Leo who is a homeless man living in New York. Leo caught the media spotlight in 2013 when Patrick McConlogue offered him $100 to learn how to code. Leo took his skills and built a mobile app that generated him $15,000 in revenue – which is still sitting in a bank account while Leo continues to live on the streets (see video):
This week Dylan spends time revealing how he learned to let go of customers he never really had in the first place as well as the personal lesson of realizing there are many different paths that a business can take to get to its goal. Dylan shares a conversation he had with someone who was recently fired and is considering starting a business.
Peter Thiel makes a comment in his book Zero to One “If you have invented something new but you haven’t invented an effective way to sell it, you have a bad business – no matter how good the product” which got me thinking about crowdfunding. I was chatting with someone over the weekend who had sent me another invitation to a crowdfunding web portal that connects businesses with venture capital. As we got talking about it I found myself thinking back to Peter’s comment and realizing that crowdfunding might be working but has the market really bought it? Is it a niche opportunity that will always fill a void because the greater market isn’t sold on it? Do crowdfunding platforms have their work cut out for them before they become a mainstream competitor for capital? Continue reading “Crowdfunding is off to a good start but how will it end?”→
What if your business never existed – would anyone care? What if you never took that idea you had and pursued it relentlessly to form a business that is now delivering value to the market? In listening to the first ever TWIST episode I was reminded that execution is arguably the only thing that matters if you are trying to start a new business or grow your existing business. As an entrepreneur or business owner if you are having trouble executing then it’s probably fair to say that you are either having trouble with your finances, managing your time or maybe both. Need some motivation to get focused again? Read on. Continue reading “Execution is everything and here’s proof”→