I came across a great article by Richard Rumelt, Professor of Business and Society at the UCLA Anderson School of Management titled: “The Perils of Bad Strategy”. It’s a great read that discusses the impact of bad strategy and how, unfortunately, many organizations (and their leaders) believe that they have a strategy when they really don’t.
Recently, I was fortunate enough to hear Guy Kawasaki speak about his new book, Enchantment. For those of you who don’t know who Guy Kawasaki is, he’s a local Silicon Valley guy who’s done many things including having written 10 great books. His un-official bio reads as VC, start-up, and author.
It was a pleasure for me to hear Guy talk about his new venture and trust you too will enjoy it.
For starters, it’s good to be back on the blogging scene. I spent most of May traveling to Asia (Hong Kong, China, and Bangkok) getting an whirlwind overview on their economies, doing business in these booming markets, and what we can expect over the next few years. Needless to say it was a great education…
Now… back to the topic at hand. To clarify when I say “Blue is the new Black”, I’m not referring to fashion – in fact, I’m the last person that should be writing about that topic! I’m talking about business… in accounting slang, it’s understood that when your business is operating in the “black”, the company is actually operating above the bottom line – in other words, doing well. Conversely, when the company is operating in the “red”, it means the company is on fire and may need to be saved (or shut down – depending on which is more prudent). Continue reading “Blue is the new Black!”
Of the many decisions a start-up company founder has to make, “to sell or not to sell” ranks right at the top of the list. With the underlying assumption that the founder has arrived at this point because the company is doing great (or on the verge thereof), not only is this is a good problem to have, but it can mark a critical point in not on the entrepreneur’s life but also in the company’s legacy. Selling at the right time to the right partner could bring tremendous value to both the start-up, acquiring company, employees, and shareholders. Continue reading “Yes, No, Maybe So?”
While it’s nice to be important, it’s more important to be nice…
I’ve always found it interesting when a successful executive takes the time to write down what they believe have been their core success principles. Given the vast majority of topics available, it’s not that easy to narrow down to a select few. More importantly, those that have been identified as consistent and repeatable – this ability is, in many cases, equally if not more important, than the principle itself.
I came across an article yesterday where Pepsi’s CMO, Salman Amin, defined what his six principles of success have been and I’ve shared them below.
About ten years ago, Reed Hastings co-founded a small company in Los Gatos, CA (Silicon Valley) that would mail you DVDs. Ten years later, they are a force to be reckoned with and are disrupting how you watch TV and movies! With an IPO price of $15 (May, 2002), today their stock is trading at over $240/share and the company has a market cap of over $12B!
One reason for Netflix’s ongoing success is the company’s culture, which emphasizes performance, freedom, and responsibility. If you want an example of Employees First and Customer’s Second, search no more!
In business, never underestimate the value of true first mover advantage. True first mover advantage reflects not the first actual mover, but the first mover to garner significant market share. In fact, the gains can be tremendous – become recognized as the leader in the space (whereas everyone else becomes the “me too”), get customers (and revenue) before any competitor can arrive on the scene, and reap great profits and possibly gain monopoly-like status. An entrepreneur’s (and the VC who backed the company) dream come true! Continue reading “I was here FIRST!”
It’s all about the ‘art of the pitch’. When you have an idea that you want to share, it’s important to understand that your ability to sell the idea, in the beginning, is potentially more valuable, than the idea itself. Continue reading “Gone in 60 Seconds!”
I received a call from a friend the other day seeking some guidance. He’s newly unemployed and we were discussing his options. He said, “I’ve never really been in this position before… not sure if I should start something on my own or if I should go back and take up a new job?” In the midst of the conversation, my mind froze! There it was! The infamous grammatical conjunction that stops us in our proverbial tracks almost every time we use it. Can you guess which word I’m referring to? It’s the word, “OR”. Don’t get me wrong… the word ‘or’ can be critical at times when faced with the difficult decision of choosing between the lesser of two evils. For example, would you like to be audited by the IRS or spend a week with your mother-in-law? Depending on your circumstances… the IRS may not seem so bad! Continue reading “Conjunction Junction – What’s your function?”