Aug 09

As an entrepreneur you either have time or have money, but usually not both. Later on you’ll trade time for money by allowing others to do things they are better at than you are to free you up to do what you do best. But in the beginning if you don’t have the money then you have to do things yourself. But how can you save yourself time and money? Let’s take a look.

First, in creating marketing materials such as a newsletter for your clients or customers you can use Apple’s iWork to create some good looking documents. However, sometimes you need some fresh ideas.

You can take a look at Brad Gosse’s magazine templates and purchase them and make the adjustments you need and then create the documents. He has some great ideas and flair for this thing called marketing. Getting his templates will save you time, especially as low the price is for them.

But if you’re low on the ol’ mulla, then do what I do on occasion. I look at what Brad or any other magazine have done and try and recreate it the best I can and then add some of my own flair in it. It might take longer to do it, but I’ll learn how it’s done and get ideas for later.

If you are a true entrepreneur at first you can’t help by keeping your costs low and get ideas from others. Later on as you begin to make money you’ll save yourself time by hiring others to save you and your time.

So:

  • Get idea from others to keep your costs down
  • Hire others when you have the money so you can concentrate on your business

Now get going and create.

Aug 04

As an entrepreneur, I look for ideas that make sense to me and try and find sense out of what I read. After reading a blog post by Derek Sivers called Valuable to others, or only to you? about making music for others it made me think about not making music, but about the creativity part for entrepreneurs, about making meaning, as Guy Kawasaki states. What does Sivers mean?

While musicians make music and the audience listens to the music there’s a conversation going on there between them. The musician plays the music and if the audience likes it they applaud, that’s the conversation. An entrepreneur makes a product or service and sells it to his or her customers. The feedback from both the sales and the comments from the customers is that an entrepreneur is having many conversations between his customers and himself or herself. Both the musician and the entrepreneur are “making music”

What does a conversation between a customer and an entrepreneur look like?

  • Entrepreneur: I have an itch or I see someone else’s itch and I want to scratch it. I’ll make a product/service to take care of my/your itch and see if others like it.
  • Customer: Oh, I see how you solved your itch, do I have the same itch? Yes, No, or Maybe.
  • Entrepreneur: Here’s my itch more defined, do you have the same itch?
  • Customer: Yes, I do. Now will your solution really solve my itching problem?
  • Entrepreneur: It not only solved mine, but here are others that it my solution solved as well.
  • Customer: I really don’t believe your solution will solve my itch. You’re pulling my leg!
  • Entrepreneur: Well here’s a sample to try and see it if works for you.
  • Customer: Yes, I do believe it does solve my itch. How much is it?
  • Entrepreneur: It’s only this price?
  • Customer: I’ll have to think about it.
  • Entrepreneur: You come back now if you have any more questions, OK?

This is just one type of conversation, but notice that it is something which both the customer and entrepreneur agree upon, there is no fraud or attempt to defraud by either the customer or the entrepreneur. This is a true business relationship where both sides agree that things are what they are.

Where problems begin is when either the customer or the business work to defraud the other from their rightful property or provide a less than good product for the money.

When it works, then the solution to an itch becomes a better business and it grows.

What conversations are you having?

Aug 02

We all know of Thomas Edison, but most are not aware of Nikola Tesla. Here’s a short video about who he was.

The History of Nikola Tesla – a Short Story

Genius is one percent inspiration and ninety-nine percent perspiration. Thomas Edison

If Edison had a needle to find in a haystack, he would proceed at once with the diligence of the bee to examine straw after straw until he found the object of his search. I was a sorry witness of such doings, knowing that a little theory and calculation would have saved him ninety per cent of his labor. Nikola Tesla, assistant to Thomas Edison

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Jul 30

I was at a friend of my fathers the other day for dinner with the rest of his friends and they were making some comments about kids moving back home. Their comments were typical of “parental units,” they jokingly said that the kids were “having difficulty finding themselves.”

After thinking about it for a few moments, I got a little upset with the thought that the premise these parents were taking. Whatever their reason for the comments: “lack of success” by the child, they’ve made it why can’t their kids, or just being “out of touch” with the state of our economy, it irked me. I considered it a little longer and I boiled it down to a few perspectives of one that is changing with the times:

  1. Finding yourself
  2. Finding a job
  3. Finding work
  4. Finding a market

1. Finding Oneself. Finding oneself is of utmost importance and a parent’s job is to encourage as much experimentation as possible for their kids growing up to see how they’re going to turn out. Once they know their kids talents parents need to put “gas on the fire” when kids find out what they love to do to encourage them to excel. Some kids have tons of talents, some have less. But parents forcing kids to do something they’re not talented for, or making “you’re not trying hard enough” comments, does not make a kid necessarily try harder.

In March of 2010 I met local author Tama Kieves (and her “Awakening Artistry”) workshops. She talks about telling her parents as a young girl that she wanted to be a writer. She was told she was going to law school, which she dutifully did: Harvard Law. She graduated cum laude and got into a corporate law firm and hated it. After some soul searching she left it to pursue her new career in writing. It took her years to find, to undo expectations, and to grow into what she loved to do: writing.

There are ways of finding out what you love to do, but this the first step. You can take some personality tests that will help define who you are, take the Strengths Finder test to see what skills are tops and to concentrate on them, and lastly, once you have narrowed down what you are passionate about and have talents for, follow through to the next step.

2. Finding a job. Sometimes you have to take a job “just to get by.” But don’t look at a job as a death sentence. You can ALWAYS learn something from each place you work. What you love to do, and especially what you don’t want to do. But learn it anyway, it just might help down the road at some point.

If you have taken some tests to see what you’re good at and what you LOVE to do, now you need to see about working in that industry and see if you are any good at it, really. If you love to work in a bakery, then find a bakery to work in. If you love golf, find a club house to work at. If you love Macs, find an local Apple store or Mac reseller and see if you can work there to gain experience. Work in an area that is similar to what you want to do for the rest of your life.

3. Finding work. This means that you are open to the possibility that that might be more to making money than looking for a job, i.e. looking for an opportunity of starting a business or do some freelance work. When you say you’re looking for work, you allow the potential of doing something different or more to come into the picture.

If you have enough gumption, you can take the next step and find out how good you really are.

4. Finding a market. Now you’re talking. Here’s where you maximize your talent and start your own business in the area you love to work in. Or create a new market like “Hello, my name is Scott,” who worked for years in his parents basement to build a business around being approachable. And getting back to the parental comments above, here’s where finding “oneself” really means that you’re finding out what the market needs. Getting fired or laid off is personal, whether we like it or not. It takes a personal toll, but it’s a matter of working on bouncing back from this defeat.

Parents can never stop being parents. But those that are retired or have only been in the “job track” working for someone else may not understand Scott’s reasonings for moving into his parents basement. Scott moved into his parent’s house to save money on rent UNTIL he could move out. It’s no different when starting a bakery living inside your bakery until you can afford to live in a place to call home. You’re saving money to build a business so you can live better later on. Pay now to play later, not play and pay later.

Nonetheless, a parent’s lack of understanding of what it takes to run a business can come out as a negative that you’re “finding yourself” when in fact you’re trying to see where the market is in order to make money to live. Scott’s parents at least gave him the chance to work it out, as long as it took. Why? First, because they loved their son. Other reasons: they believed in their son, wanted to support their son, or they already knew what it took to start a business and keeping costs low.

But in cases where parents are “jobbers,” those that have only worked for others or the government, should not be so quick to judge their or any other kids. Times and environments change and what was true 10 years ago is not true for today. What was true just three years ago is not true for today. Applying old school ideas and jobs may not work in today’s market as things have a way of becoming obsolete. This includes attending college. Today’s college tuition is skyrocketing past most people’s ability to pay to attend and incurring debt is becoming a harder choice to say yes to being able to pay it off.

At the turn of the 1900s buggy whip manufacturers to make horses go were the hot jobs, but within a few decades they were replaced by carburetors that made cars go. That means a skill change. So the next time you come across someone that is “finding oneself,” it may be true, more importantly, they’re trying to find where their skills fit into a changing market. Where they fit into the change occurring within the market and society. It means finding oneself, again.

So, there’s your four steps. I hope you find what you’re looking for.

Jul 26

As an entrepreneur you’re always looking out to solve problems, but where do we get this skill? Is creativity learned? Is it innate? How are our next generations going to solve some of our future problems?

There’s a new trend in the US school system that started in the 1990s: killing creativity. This Newsweek article “The Creativity Crisis” outlines where the US is diverging from the rest of the world in instilling kids with creativity.

Jul 23

The man with a new idea is a crank until the idea succeeds. Mark Twain

Here are two online articles that discuss some of the various ways of brainstorming, “Eight Rules to Brilliant Brainstorming” and “Forget Brainstorming” that might help you with getting your ideas out and into the market place.

I was having a coffee with an entreneurial friend of mine, Karl Dakin, at Espressole Cafe and we were discussing business ideas. He pulled out a package of seeds and told this story. “When I discuss business ideas with people I pull this package out and ask people what they would pay for them. Then I ask what they’d pay for the results of the seeds after they were harvested. That’s the price for ideas versus a well executed idea. You get more money from execution rather than ideas.”

So, ideas are a dime a dozen, or the price of a package of seeds, but it’s worth more when you apply action to your ideas, or do the work to get the seeds through to harvest time.

UPDATE 1: Here’s a link to a rebuttal by Alan Black that counters some of the above articles.

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Dec 06

As I was thinking this morning, I began with just a short view of this issue, but it took on a life of it’s own as I began to think of others. Here goes:

  • Optimist – The glass is half full
  • Pessimist – The glass is half empty
  • Dreamer – We need to find a bigger glass, more glasses, and more water
  • Business Owner – I own the glass
  • Supplier – We need to find more water.
  • Property Owner – I own the water (lake, stream, pond, or land that water is on)
  • Engineer – Someone didn’t design the glass to specifications
  • Jack Welch, former GE CEO – My main job was developing talent. I was a gardener providing water and other nourishment to our top 750 people. Of course, I had to pull out some weeds, too.
  • Environmentalist – how clean is the water?
  • Scientist – If we freeze the water it becomes ice, if we boil the water it becomes steam.
  • Jewish Rabbi – A plan in the heart of a man is like deep water, But a man of understanding draws it out. Prov 20:5
  • Hollywood type – Can I have MY Evian bottled water…..
  • Survivalist – First thing is to find water because we can’t live without water, then find a glass (container) to put it in.
  • Manufacturer - how is the glass made?
  • Jesus Christ – “Everyone who drinks of this water will thirst again, but whoever drinks of the water that I will give him shall never thirst; but the water that I will give him will become in him a well of water springing up to eternal life.” John 14:13-14
  • Pastor – Drink of the Living Water
  • Conservative Politician – the government is not in the business of finding water, let businesses do that.
  • Liberal Politician – a pitcher of water in every home and the government will get it for you.
  • Doctor – you need four eight ounces of water to drink daily.
  • Sahara desert dweller – how far until I get to the next water hole
  • Astronomer – where can we find water on other planets
  • Artist – what style or type of glass should hold the water
  • Waiter – would you like some more water?
  • W. C. Fields, comedian – You can’t trust water: Even a straight stick turns crooked in it.
  • Traveller – I started out with a full glass …
  • Desert Traveller – Water, I need water …..
  • Statistician – .5 * 0 = 0, while .5 * 50% = .25, so the glass is ….
  • Accountant – why did you spend money on too big a glass?
  • Manager – We need to budget (ration) this water out
  • Customer – Where can I get more water
  • Leonardo da Vinci – Iron rusts from disuse; water loses its purity from stagnation… even so does inaction sap the vigor of the mind.
  • Worker – I need more water to drink
  • Blue Collar Worker – I don’t need water, give me some beer!
  • Government worker – we need to tax more so I can get more water and glasses
  • Socialist - You need to give some of your water to others, you’re hoarding too much water for yourself.
  • Skeptic – We may not have any more water or glasses to go around
  • Burglar - I’m going to take your water
  • Terrorist – I’m not going to let you have any water or any glass
  • Cynic – There is no more water to fill the glass up and the glass is made of glass and it will break
  • World View – 1 in 5 people of the world is without adequate drinking water. So you see, it’s the glass, water, time, and the person viewing it that determine the viewpoint of the glass of water.

Water via AllTop

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