The False Entrepreneurial Failure Mantra

 

The Failure Mantra

Embracing failure is one of the first things you are all told to do once you set out on your first entrepreneurial effort.

Why?

Because the odds are stacked against any new business. The odds of the business being open after 5 years are less than 40%, but this doesn’t tell the full “failure” picture, as a heartbeat does not denote a success.

Failure, and its teaching benefits, are a mantra deeply engrained in the American startup culture.

Let’s look at what two of the most important entrepreneurs of our time had to say on the subject

I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life

-Steve Jobs

Continue reading

Basic Math Can Save You

I am often astonished by people that get caught up in minutia in their personal and business lives. These people search for answers everywhere when the basic answer at how to succeed in almost everything is something they learned in grade school.

Math.

Basic mathematics are the key to achieving all of your largest and smallest goals.

Continue reading

Goal Creation has Changed Me

We all create goals.

Few of us reach goals.

I made a personal goal in 2008 to create an industry leading online marketing company. It took several years, and some AMAZING partners and clients, but we are there. I have also accomplished some strong personal goals in the last few years, but I have failed in reaching more goals then I have succeeded.

Recently I began dissecting what I did right and what I did wrong.

What I have come up with, with the help of a few recent books I have read ( and ) is that my success came from large goals that I supported with micro-goals.

The “goal” of becoming the best online marketing company is as broad as it is vague. To shoot only for that is almost impossible. In order to do it I had to create micro-goals:

1) Create the original Search & Social with Jordan Kasteler. We wanted to offer companies a firm based on youthful, fresh ideas in online marketing. We worked hard to differentiate ourselves from the older, more established firms. It worked to get us in the game.

2) When we merged with Loren Baker’s Search Engine Journal, Inc. the goal was to make a real run at being the best linkbuilding company in the space. We wanted to do this through differentiated linkbuilding, i.e. blogger outreach, social media, content aggregation, and linkbait. We built commodities in a white hat fashion, in a way that had only been previously been accomplished in scale by less legitimate lini brokering
firms.

3) Second Step Search, which began in 2009, had the goal of creating scalable workflow solutions and reporting for SEOs and marketers. This included CopyPress.

4) The last step, the merger of BlueGlass, brought together all of the pieces into the final product that would allow us to achieve our original goal.

Breaking the micro-goals down further:

1) We entered the game and created a differentiation
2) We set out to become experts in one channel of a multi-channel market
3) We figured out how to scale other channels of that market
4) We merged with awesome marketers in those other channels to pull of the goal

By looking hard at these areas where I have succeeded I now know that in order to be successful I have to:

1) Create an overarching but tangible goal. Think big. $1 million in monthly widget sales recurring
2) Setup Micro-goals for this with deadlines. Lets say you want to achieve the $1million in monthly sales, first you should plan on a. creating a sales strategy b. hitting $250,000 a month in sales c. increasing sales force by 50%
3) Create daily tasks to help you reach the micro-goals. In the example above in order to hit my first micro-goal I need to a. do competitive analysis of the competitions sales strategy b. create a pricing structure based on this analysis c. create a sales funnel that meets or beats competitors.

By making this a daily activity, you work daily on achieving your dreams. The upside as well is that by dissecting items like this you know that you can get minor achievements accomplished without burning out chasing the big prize.

Young Entrepreneurs, 8 Things You Need to Know

1. Get Ready to be Broke

Tough lesson to learn. It gets even tougher when your company is actually generating revenue, but you need to reinvest it rather than take it off the table. Starting a company is about the long term investment, not the short term payoff. If you are focused in the short term, affiliate marketing or consulting is likely a better fit. These types of ventures allow you to run lucrative solo enterprises. If your goal is to build a company with a product or service that you are passionate about, then prepared for the early days of scraping.
Continue reading

This Weeks Shocking Lessons in Business and Life

So this week was more of a roller coaster than usual, and like all things interesting in my life I figured I would share it.

Lesson # 1: Dante is a pimp in a tie

Dante looking awesome!

A bit of chest thumping, but whatever.

Lesson # 2: Transparency is KEY

This was probably the most cliche statement in 2009, so I am sure your eyes are rolling. BUT, what do you do when it is YOUR company that needs to be transparent. Not a hypothetical company, not a Fortune 500 , not a client … your company, the one paying your bills.

This week we had two issues arise with work we were contracted to do for clients. Both of them were honest mistakes, and the kind of issues that can happen to anyone, but we were at a cross roads with both clients. The issues were severe enough to warrant us being taken of the accounts. In reality, both issues were caused by circumstances that are not part of our everyday business, or that we even knew were going on (this lesson feeds more lessons to come). But that is the reality of doing business.

As a business owner do we cover our tracks, and do whatever it takes to keep the client?

No. Instead we chose to man up, take blame for our mistakes, offer swift actionable changes to benefit the client in the situation. Now by doing this we knew we were likely going to lose the account, however something interesting happened, the fact that we were transparent, willing to fix the situation, and provided excellent customer service in both cases caused the client to realize how safe there business actually was with us. We were not the company that was going to mess up, and leave them in the lurch, instead we were the company willing to protect them at all costs, despite our benefit or loss.

Lesson #3: When something is broke, FIX IT!

When your company is humming along and being profitable, it is sometimes hard to stop the machine to make repairs you know are necessary. With the above issues however, this month, we halted several of our process, and made massive overhauls in the middle of work. Very few companies would do this, but what we realized was that our mission has always been driven by Quality, in services and customer service, and if we have processes that aren’t giving our clients that one basic principles they must be scrapped and redesigned, from the ground up.

Lesson #4: If you want the most from your staff challenge them

As you can imagine the reinvention of process in our company was a huge undertaking for our staff, so I decided to sit out in the main work area yesterday to help them along. I was surprised, and delighted to see the aggressiveness and enthusiasm they had about tackling the challenge. It made me realize that the ingenuity if our staff is something we should harness via processes and not suppress. By creating challenging assignments, not only will it make the staff rise to new levels, but it will also produce the best quality services for the client.

Lesson #5: Google Doesn’t Understand Privacy

Seriously! This never came up in testing?

Lesson #6: Snyder men are dead sexy