Step 1:
First thing the exec will ask is “hey, what is this so called *problem* i have?”. If you can’t define it simply and concisely, you’re out the door before you even put your latte on the table.
Step 2:
Now the big cheese is listening, offer up your solutions to the problem (3 is always a good rule of thumb) AND suggest what one you would go with.
Step 3:
- Make sure it is technically possible – if it cant be implemented, you’re out the door.
- Ok, you’re still in the game. Make sure it’s financially sound. If it costs $1m to fix a $100k problem, you know where you’re going…
- Nearly there: After all your bluster and rational thought, will this answer to the problem really work. You’ve built up some credibility if you’re got this far, so work your magic (now you can become a bit more subjective). Give it a 75% chance of success and you’re off to the races; less than 25% chance of success and you lose, find the door.
I have an on going struggle.
In fact, I have a lot of them but one of the main ones is about how to share my time between digging around online, looking at new areas and translating that into specific activity. I’m paranoid about getting analysis paralysis; you know, becoming so insular and heady that trying to start a new business becomes an intellectual frenzy rather than something real life and practical. I got talking to an older successful guy yesterday and he told me he doesn’t use a computer, never has and never will. My God, how does he do business. Simple, the answer is relationships – picking up the phone and talking to someone (such a novel concept).
I just finished reading the auto biography of Andrew Carnegie, the steel magnet bloke from the turn of the nineteenth century. Don t even talk about computers, the guy wore a top hat and tails and used horse power for transportation. And no, he didn’t have a phone. So he did his networking and business face to face. There ‘s a rare concept. I remind myself of this every day. I’m reminding myself of this now because even writing here is making me ansi – it’s 9 am on a wednesday morning and i’m sitting here with a coffee and my dog on my southern wrap round porch stuck in my head writing something nobody else is probably going to read. Go and phone someone!! If I’m not careful I find myself on the mouse wheel of continually looking at new business ideas (an addiction) and never moving anything forward. Your training gurus would probably tell me to spend more time setting my goals around a specific area and working towards solving problems around them.
True but here’s the deal so pay attention. I respond well to the randomness of immersing myself in a topic area. There is something organic and essential to letting myself just wander (same reason why people stand memorized in front a weird painting in a museum) . It does something inside. Normally, reading a book or magazine article to focus my efforts on will start the process because reading someone else’s thoughts or experiences normally gets me to come up with my own questions (I’m currently using the book Wikinomics). This immersion allows me to become a domain “amateur” (the “expert” part can follow later). By learning just enough to be dangerous, I can create a good platform to speak with some type of authority when evaluating businesses. Most importantly, it lets me come up with the right questions when looking at opportunities. Questions are key to life. If i’m not coming up with the right questions when evaluating a business it normally means i’m not finding an intuitive fit for an area or the people i’m looking to get involved with. No questions = no chemistry = not a good business for me. When I went for lunch yesterday with a couple of Professors from Georgia Tech to talk about an elearning product, I had a stream of questions – a feeding frenzy. These are good signs.
Here’s my list of things to investigate today. They are mostly based around the online learning and the growth of peer to peer & collaborative learning:
1. Check out the California open source text book
2. Set up meetings with the advisors of the elearning service I’m evaluating (face-to-face, very old school).
3. Research some the collaborative news services out there. How they came to be and what makes them work.
Why, what about, where and who cares anyway. All these are good questions crammed into a single sentence (i’m sure some literary type can tell me the name for it). I’ve pondered a lot why i dont blog, if i should, what should i write about and who would care about it anyway (and why should i care who anyway). Like anything in life, when something has a purpose and a focus it becomes more meaningful because it has a context that makes it relevant to a given group of people, no matter how small or large. So far i’ve never gotten this raison d’être for writing and much of this has sprung from an acute case of subject idea ADD. At the end of the day, it comes down to relevance and picking something. I would rather be relevant to just one person by concentrating on just one area than irrelevant to the everyone by rambling all over the place.
So, as much for myself as anyone else (there’s my guaranteed one person at least) i want to talk about what it’s like to go through looking, finding and building a new business. I’ve already had the one smash hit: building and selling a .com in the frenzy of 2000 when Monopoly ceased to become just a board game (see my linkedin for more), almost done it again with a second startup (work in progress at Vocalocity) and had a smattering of other projects (like Fizzbee) but since last October i’ve been full on looking for my next thing. Is it a case of once you’re lucky, twice you’re good (the book)? Hmmm, we’ll see.
Without doubt, starting your own thing is not something conjured out of thin air. The major universal force working against you, is that most good business ideas come out of organic growth and a real life a-ha when doing something while sizing up the fruit in Wholefoods; they are not manufactured synthetically inside our own cerebral boxes. So given that, here’s some of my experiences of trying to do it again. It’s stimulating, frustrating, rewarding, demoralizing and interspersed with moments of utter clarity and complete confusion (sometimes shared between breakfast and lunch); i’m great; i’m crap; this is it, no it’s not. You’ll get the idea and hopefully it’ll be enlightening and maybe useful for the army of others going through the same…
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