Apr
0

Are you a major league business or playing T-ball?

Are you a major league business or playing T ball?My son is going to start playing t-ball this spring. It’s for 4 and 5 year olds – so they don’t keep score. They don’t track hits, errors, runs, etc. Which makes perfect sense since the point of t-ball is to learn the basics: where to stand, what it’s like when the ball is in play, what base to run to, etc. Keeping score, playing to win – these just get in the way of the purpose of t-ball.

Meanwhile, my favorite baseball team (sorry Tigers – you’re my five year old’s favorite team) the Chicago White Sox are 10-16, and only one game out of last place in their division – a division where they were expected to compete for first. The problem is their hitting. How do I know this? Well thanks to the Sun-Times and their kick-ass stats team, I know that the Sox haven’t “scored in the first three innings in 12 of the last 13 games and has scratched out all of 41 runs in the last 17 games.” Why does this matter? Because it’s the White Sox job to play AND WIN games. The owners of the team have invested substantial money in the manager, coaches and players with the purpose of winning.

So what exactly does this have to do with business? Well ask yourself – is the purpose of your business to win it all (i.e. achieve success) or is the purpose of your business to improve your skills (i.e. learn something)? Your investors and I hope you know the answer – it’s to win – to achieve success. So if you’re planning on winning – you better keep score – and not just wins and losses – but all the little stats that create wins and losses. The wins and losses follow from things like how many runs a particular pitcher gives up – and the batting average of the hitters. The success (wins, or money) follows from good work (hits, strike outs, or a fiercly effective email campaign).

Seems simple right? Except it isn’t. I’ve given advice to dozens of startups and very few of them know how many visitors their websites are getting. Few of them know how their average customer would rate them on a scale of one to ten. Ask yourself – how many emails did you send out? How many people opened them? How many visited your website? Etc. Etc. Etc. If you’re not paying attention to these fundamentals, you can’t improve your number of wins. You become a victim to your actions – not the master of your actions. This can be damned ugly. If you’re in the majors – pay attention to the score and learn how to make informed decisions to improve the score.

Are you playing in the major leagues or playing t-ball?

Here’s a quick way to tell the difference – have you been given money for your effort? Are you getting paid? I pay for my son to play t-ball – if he learns to hit – awesome. If he doesn’t at least he’ll have fun. Paul Konerko from the Sox? He gets $12,000,000 a year. He better get some hits. You should too.

Nov
4

How NOT to drive people f*ing insane with email

How NOT to drive people f*ing insane with emailI wrote the following tips for my current batch of entrepreneurs, but thought they might have more general application here.  Email is like a hammer: it’s a great tool when used effectively, and f*ing painful when it isn’t.  Enjoy!

Email.  We use it every day.  But are we using it as effectively as we can?  Probably not, if we’re not doing the following:

  1. Use Reply All: Before I came to Bizdom, I hated Reply All.  I thought all it did was clutter up my inbox.  Now? I realize it’s the reason my inbox isn’t cluttered – it’s informative.  If I’m cc’ed on an email, I want to know how the conversation is going and whether the issue’s been resolved.  When I cc someone on an email, I want them to be part of the conversation.  Maniacal use of ‘Reply All’ helps this immensely.  Do it as a matter of common practice.
  2. Informative Subject Lines: There’s a reason newspapers, blogs, and various other forms of media use headlines – it lets the intended recipient know what the communication is about.  It allows them to skim the headline and prioritize.  When you recycle an old email for convenience sake, you’ve made the subject line useless.  And ultimately put your own convenience over that of the recipient, which leads me to my next point:
  3. Put yourself in the shoes of the recipient: You want something from them, make it easy for them to give it to you.  You want them to read the email? Make sure the subject matches the content.  You want them to do something after they read the email? Ask.  An email with a document attached could mean “I need you to review this immediately” or “I just wanted you to have a copy of this” or “Hey look at me! I can use attachments!”  Without a direct call to action, you’re making it difficult to get the recipient to take any action, much less the action you want them to take.
  4. Use a signature block: If someone wants to follow up on your email, make it easy for them to contact you.  Give them your email address, phone number, address, HAM radio call sign, whatever it takes. Signature blocks automatically added to your email achieve this in a no muss, no fuss manner.

When I was improvising, one of the big moments of self discovery I had was when I realized that everything we do onstage looks like a choice, so we should be conscious of that choice and make it a choice.  When it comes to something as mundane as sending an email, this same principle applies.  Ask yourself – what result am I trying to obtain with this action, and have I done everything to make that result obtainable. Have I given it 100%?

Some of you do this consistently and regularly, and clearly get what I’m talking about.  To you, I offer nothing but praise and encouragement.  Your efforts matter and you will be effective.

Some of you will think I’m an email maniac who’s obsessing about some minor points.   To you, I ask – faced with the choice of communicating effectively and communicating ineffectively, what would possibly justify choosing the ineffective route? Effective people take effective action – that’s what makes them effective.

In the comments, please share your email pet peeves or opportunities for excellence.

<!–[if gte mso 10]>

Email.  We use it every day.  But are we using it as effectively as we can?  Probably not, if we’re not doing the following:

1. Use Reply All: Before I came to Bizdom, I hated Reply All.  I thought all it did was clutter up my inbox.  Now? I realize it’s the reason my inbox isn’t cluttered – it’s informative.  If I’m cc’ed on an email, I want to know how the conversation is going and whether the issue’s been resolved.  When I cc someone on an email, I want them to be part of the conversation.  Maniacal use of ‘Reply All’ helps this immensely.  Do it as a matter of common practice.

2. Informative Subject Lines: There’s a reason newspapers, blogs, and various other forms of media use headlines – it lets the intended recipient know what the communication is about.  It allows them to skim the headline and prioritize.  When you recycle an old email for convenience sake, you’ve made the subject line useless.  And ultimately put your own convenience over that of the recipient, which leads me to my next point:

3. Put yourself in the shoes of the recipient: You want something from them, make it easy for them to give it to you.  You want them to read the email? Make sure the subject matches the content.  You want them to do something after they read the email? Ask.  An email with a document attached could mean “I need you to review this immediately” or “I just wanted you to have a copy of this” or “Hey look at me! I can use attachments!”  Without a direct call to action, you’re making it difficult to get the recipient to take any action, much less the action you want them to take. 

4. Use a signature block: If someone wants to follow up on your email, make it easy for them to contact you.  Give them your email address, phone number, address, HAM radio call sign, whatever it takes. Signature blocks automatically added to your email achieve this in a no muss, no fuss manner.    

When I was improvising, one of the big moments of self discovery I had was when I realized that everything we do onstage looks like a choice, so we should be conscious of that choice and make it a choice.  When it comes to something as mundane as sending an email, this same principle applies.  Ask yourself – what result am I trying to obtain with this action, and have I done everything to make that result obtainable. Have I given it 100%?

Some of you do this consistently and regularly, and clearly get what I’m talking about.  To you, I offer nothing but praise and encouragement.  Your efforts matter and you will be effective.

Some of you will think I’m an email maniac who’s obsessing about some minor points.   To you, I ask – faced with the choice of communicating effectively and communicating ineffectively, what would possibly justify choosing the ineffective route? Effective people take effective action – that’s what makes them effective.

How NOT to drive people f*ing insane with email
Nov
4

A clever idea to raise money for your startup

A clever idea to raise money for your startupMy friend, the incomparable Margaret Hicks, has started her own business giving tours of Chicago.

A Smart Idea for a Business

It’s really a great idea for a lifestyle business.  It leverages her knowledge (she’s trained as a docent, and has done tours for other companies) and her skills (she’s funny, engaging, and smart without being smarmy).  It also leverages the natural resources available in Chicago (interesting sites, stories, and an abundant tourist population) all of which she can access at basically zero cost.  Zero cost natural resources? That’s the type of thing business dreams are made of.

A clever idea to raise money for your startup

Margaret’s really gone from being a smart cookie, to being a whole tray of steaming hot cookies made by your Nana with her fund raising strategy.  She’s having a “Help Me Build My Business” party.  For $20 her guests will get booze, beer and great food (her husband is a pro grade cook).  I was so enamored of the business idea and the fund raising idea that I kicked in $50.  And I can’t even make the party!

Why this is a clever idea

I’m a big fan of bootstrapping, but also calling in all your resources.  By having this party, she’s calling in her resources in a fun way that won’t burn out those resources.  It’s the Girl Scout Cookie Principleask people for small favors and give them something great in return and you can tap those people again and again. Girl Scout Cookies raise funds for the Girl Scouts without tapping out the resource (all those aunts, uncles and people at work).  Why doesn’t it tap them out? Simple, they get a benefit above and beyond the ‘donative’ benefit and the incremental hit is so small they barely notice.  Do you remember how much you spent on Girl Scout Cookies this year? I don’t, except when I tuck my gut into the car, and next year I’ll get hit up by the same tiny Trumps for cookies and willingly fork over my moolah.  Brilliant.

It also taps into the Kid Rock Marketing Method: relentlessly promote your product to whoever will listen – particularly if those people express positive interest in the product.  If you went up to Kid Rock after one of his early shows and told him you liked his music, he’d thank you and ask you if you were coming to the next show.  If you were, he’d ask if you were bringing anyone.  If you were, he’d ask if you wanted to sell T-shirts (giving you a T-shirt in return).  Obnoxious – hell yeah.  But that’s because we live in a world where self promotion is frowned on.  Are you starting a business? Do you want it to survive, succeed and possibly grow? Are you telling people about your business?  If you answered “yes” to the first two questions, why are you answering “no” to the third question? Networking is as much about getting the word out as it is about asking for stuff.  Start getting the word out.

Margaret’s doing a great job of conceiving this business, funding it, and getting the word out to her potential supporters and evangelists in one swell foop. Check it out at ChicagoElevated.com.

Have any clever fund raising ideas? Ever been sucked up into someone else’s promotion efforts? Ever sold a Kid Rock T-Shirt? Chime in on the comments.

A clever idea to raise money for your startup