Skip to main content

Posts

New Idea: Risks vs. Mitigation

A friend recently spoke to me about an idea from helping clients work out tedious real estate issues. He worked with several clients who had poor management of a particular aspect of the business. Most of the work was done painstakingly in Excel, if any process was instilled. 
Like any idea, there are several risks. However, we talked about early mitigations: Risk: As a standalone tool for a single “client”, usage would be infrequent. For one client, the problem occurs every several weeks. Mitigation: The target customer is an entity that manages several clients. This enables more frequency of the problem and exponentially increasing the pain. Thus, the benefit, too, exponentially increases.Risk: Explicit pain could be felt with management of several spreadsheets. However, quantifying the impact of pain could be difficult. Mitigation: Benefits start with both monetary and legal exposure. As added bonus, there was a time-saving component. Stick to benefits that get closer to the wallet.…
Recent posts

Frustration From Nothing

I just started listening to The Subtle Art of Not Giving A F*ck by Mark Manson. Perhaps it’s the number of F-bombs being so liberally dropped, but the message has been highly enjoyable and resonating. Within the first chapter, I realized an important inverse point to my post “Who do you envy?” That inverse point being, “Why are you not satisfied with what you do have?”
The desires to always improve and have “more” runs deep within me. Coincidentally, the morning before I started the book, I thought about adequacy of the things I already have. I thought about how my frustration dealing with UPS on the phone for 30 minutes for an object I didn’t need.
I was on hold that morning, just as I was on hold for 20 minutes the night before. I was frustrated. I order a pair of shoes just days earlier, and the shipment was delayed. After the fourth call, I realized I was frustrated seemingly for no good reason. The shoes I ordered were purely out of pleasure. I didn’t need or really want new shoe…

When Seeking XX, Be Specific

I met with young professional several months ago who was looking for advice on the Atlanta startup scene as well as to share that she was in the market. She, like many others I’ve met, start out describing how they liked new challenges, feel a part of the company, work with a team, etc. If you read that and were wondering, “so what?”, you’re not alone.
What many people describe in their “next job search” are table stakes today. Why wouldn’t you want new challenges? Why wouldn’t you want to feel a part of the company? There needs to be specificity.
I liken this to the oft-written online dating profile. If you’ve been on any online dating site or app, many profiles read the exact same – “I’m nice, funny, love to travel…” You don’t say?.. Everyone says the same.
In fact, here are a few excerpts of actual submissions to a job requisition when asked, “Who are you?”
“strengths lie in developing customer relationships with my energetic personality”“I am a well organized, enthusiastic, coach…

A Great Product Through Customer Reviews

CNBC reported a few days ago how Robert Wang, founder and CEO of the company behind Instant Pot, still reads all (more likely most) of customer reviews on Amazon (article link). That totals almost 39,000 reviews of the invention he launched almost 7 years ago modernizing the original Crock-Pot.
Wang looks to customer reviews as sources of inspiration and quality assurance. For example, Wang cites reviews for the inspiration to build the Bluetooth-connected iteration of the beloved Instant Pot.
Instant Pot’s Amazon-first sales channel has enabled Wang to spend little on advertising and focus almost strictly on product. This strategy has helped the Instant Pot to sell over 215,000 units on Amazon’s Prime Day recently. Yes, that’s in hundreds of thousands. Impressive.
Wang is not a business man by trade (or entrepreneur); though, Wang did cofound a messaging company prior to Instant Pot (before being forced out.) Instead, Wang is an engineer. He and his cofounders focused on the product…

I Have a New Idea

I have a new idea.
It’s not technology-based. It’s a hard-good.
It’s not as innovative as other ideas. It’s practical. Hugely practical.
It’s not going require a sales team. It’s going to be heavily marketing-driven as the go-to-market strategy.
It’s not something that will be immediately scalable.
It’s not a product I thought about doing before. It’s in a market I’ve always loved.
It’s going to be so incredibly hard. It’s going to test me in a way that I haven’t before. It’s going to require skills and knowledge I don’t yet have. It’s going to be fun.
I think I know the early team. I think I know how I will start to build and market. I don’t know if I will have the funds to pull this off. I’m more excited than ever to try.
I can’t wait to share it with you.

The Many Magical Assets of Disney

As I'm sitting at Disney World resort in Orlando, I'm reminded of the breadth and depth of Disney's influence in today's world. The company is one of the largest conglomerates in the world with a Wikipedia page listing its assets longer than probably 90% of other pages. Seriously, I was that fascinated. Their attention to detail as well as the size of assets and facilities like Walt Disney World and its many resorts just in Orlando are breath-taking.

Citing Wikipedia's page of "List of Assets Owned by Disney", take a look:
The Walt Disney Studios[edit]DreamWorks II Distribution Co. LLC, copyright holder of DreamWorksPictures films[3][4][5]Production[edit]Walt Disney Pictures: common name for Walt Disney Studios Motion PicturesDisneynatureAnimation[edit]Walt Disney Animation StudiosDisneyToon StudiosPixar Animation StudiosLucasfilm Ltd.[edit]Industrial Light & Magic