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Investors have a lot of investments, but entrepreneurs have only one life
Recently, I've been talking to many people about possible projects and jobs. They are distressed when I tell them my hourly rate. They respond… so consider that you're hardly making anything now, wouldn't a lower rate be better than nothing??? Uh, no. (Explained below.) VentureBeat: Why I turned down 500k, pissed off my investors and shut down…
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Advice to heed before you give or take advice
Sharing our problems and challenges is a great way to build trust. Unfortunately, that behavior inspires many people to try and solve our problems. If you have that inclination please squelch it. And if you can't, consider these words. The whole article is highly recommended–learn the context of this advice! First Round Review: Advice is…
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Data on why your data needs storytelling
When selecting topics for my blog, I prefer to share evidence. But we have to be careful… data doesn't speak for itself. Context is crucial and the best way to provide it is by telling a story–especially a story that makes people feel something. Forbes: Data Storytelling, 2016-Mar-31 by Brent Dykes Memorability: A study by…
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All other things being equal… they never are. Managing ourselves with an inverted pyramid
I manage volunteers, and when I ask them to do something, they often respond, "Yes, if you'll supply me with ____." One of the days, I'm going to get smart enough to recognize that as a "no." I admire them for finding a way to push back and delay. Here are more good tips from Sam Spurlin. …
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Ways to protect your price when negotiating a sale
Whenever we have to negotiate a sale, we confront the fact that sellers and buyers naturally disagree about price, based on the endowment effect. Science has demonstrated a bias among owners to over-estimate the value of any item they possess. This bias does not make the potential buyer correct, but it ought to give the seller…
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Why we can’t think our way through a pricing challenge–we have to experiment
While I find it easy to remember that pricing is part of the product, I forget that you probably can't reach the correct price without some experimentation. So the best way is to produce various configurations of the product and see which one appeals to your target audience. It is impossible to demonstrate the value…
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How to be entrepreneurial in writing for customers, even if you’re not in a startup
First, just start answering your customers, sharing things with them. Then worry about how to organize and edit what needs to be said and how to style it. Stephanie Hay, a 'content strategist' with Capital One was recently interviewed about why so many companies have so much trouble generating 'engaging content.' See her excellent remarks quoted…
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Why marketers tell poor stories
Not all marketers tell poor stories, but most of the "storified" content I see is really lame. Martin Weigel hits the nail on the head: until we confront conflict, our stories will lie flat. Canalside View: The world beyond 'storytelling', 2016-Apr-24 by Marin Weigel Murder, oppression, sexism, vanity, alienation, jealousy, rape, abandonment, war, betrayal, envy,…
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With creating new things, beware the How overwhelming the What
Dave Owens at the Vanderbilt University business school agrees that everyone is creative, and he also notes that in many business, people who don't see themselves as creative professionals have major influence over how things are created. And that changes the what. So if we're planning a new product or process, we have to be…
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How to become more trustworthy, from Fast Company magazine
While it seems like being honest and reliable is enough to make us trustworthy it's actually not. People trust people who notice, understand and assist them without being asked. Fast Company: The Three Habits Of The Most Trustworthy Person In Your Office, 2016-Apr-1 by Karissa Thacker It’s all too easy to get locked into patterns…
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