Looking back at my childhood I see I was afraid to fail. And I shouldn’t have. I wish I failed more. I wish I took more risk and failed more often. I wish I was wiser back then to see that failure isn’t about looking or feeling bad. Who cares what other people think. Who cares about the labels. It’s just noise, someone else’s noise. All that matters is that the more I Failed the more Feedback I would have received earlier in life. And here lays the root of the discussion on Failure and Success. Now when I say Success I don’t mean rolling in a treasure of money, rather being in a position to handle events that accomplish its intended purpose with more ease and grace.
That gut feeling
Few days ago I was speaking with a friend about the traits successful people have and their drivers. What is it that distinguishes these minorities from the rest and their guides to success.
In the business world, it is said that those successful have a gut feeling about business direction. This is extremely so with exceptional leaders who are known to drag companies out of holes and into success. Their gut feeling didn’t come from the sky, it came from experience. This leader spent early days failing, getting feedback, and learning from this feedback.
Let’s examine another example, the last time you drove your car. You probably listened to the radio while having a chat with your passenger/s and still managed to operate a vehicle that is travelling faster than the fastest land animal. All while avoiding collision with other vehicles & pedestrians. How is it that you traveled from point A to point B so autonomously.
This is due to a learning process you went through which started at the conscious level and with enough emotional experience got recorded into the subconscious (automatic) mind. That’s where the gut feeling comes from. That consciously unknown territory sending you a signal on direction.
Failure is important, early!
Both cases outlined above, the leader and a vehicle driver required early experience, early feedback.
The leader would have moved through the management ranks of a business over the years learning from the experience. The driver from the early days bunny hopping the vehicle or stalling it a few times. The reinforcements of these experiences today make you an exceptional successful person in that field. An accumulation of data (experiences) to make lightning fast decisions based on prior feedback. The power of the subconscious mind.
It is our human nature to want instant gratification. Everything today and now with minimal effort. But nature doesn’t work like that. Look at how your body consumes energy. We eat (a lot), pushing calories into our bodies and expect to not gain weight. If your body burned everything really quickly (so you wouldn’t gain weight) you’d be stuck eating all your life. A bit like the beautiful humming-bird. Your body takes time to extract the energy from food so you can live longer without needing to constantly feed yourself. Ok so you understand this simple concept.
Looking at how things work in nature it’s also important to realise that in order for you to encode (automate) something into your subconscious mind it will also take time. Learning is nothing more than feedback from a set of experiences. The most effective experiences are those where you make mistakes, you fail. Because they involve emotion. Read Think And Grow Rich (1938) to understand the power of emotion in encoding the subconscious memory.
Failure is punished
But hold on, failure is mostly punished. In our society failure is not looked positively upon. We only focus on and reward the successes. We get punished for failure. Hmm… and so the paradox begins. We see this in the corporate world (with the exception of some startups) too often it could cost our job, we see this especially in early childhood and the humility it brings to children when their peers laugh and tease them. Not to mention parents punishing failure.
So if we fear failure how can we learn. How can we change a life long fear of failure into a positive.
Who cares what they think
One solution is not giving a damn about what people say. It’s not going to be easy but you need to realize that failure is just feedback and the stuff in between is just noise. Noise that you can safely ignore and treat as just crappy noise. If this noise doesn’t agree with your feedback then it doesn’t deserve your attention because you are experiencing in order to get feedback to grow stronger and build that gut instinct which will help you drive your world (not theirs) into success.
If you think this is all nonsense then read a few biographies of great man. Man like Richard Branson in Losing My Virginity: How I’ve Survived, Had Fun, and Made a Fortune Doing Business My Way. Branson explains how he built the Virgin Empire. One of the world largest branding giants behind everything from music, air travel (commercial and space), merchandise, clothing, entertainment etc… For more custom products you may use to improve your branding, consider visiting sites like https://www.swagify.com/. He did all of this because he chose to experience, fail early and learn from the feedback he received. He didn’t care what people thought of him (that noise) . One thing you will learn from Branson is that his story is littered with failures (feedback). But overall, he did bloody well and therefore is living the dream. His dream. Not someone else’s.
Start today
Ok so it’s never too late to start. Yes starting early in life would have meant that today you would have been in a different position. But starting today is better than not starting at all and then wishing on your death-bed you did more with your life. Regret hurts more than fear of failure. If you want to remember what a great life you had, start today. Make small incremental changes in shaping this new habit so that it becomes a part of the new you. Never forget that failure is just feedback, there will always be noise – who cares about it, and that each day you are only getting better to ultimately start making successful gut decisions. That is success right there.
It was a rush! We passed the 12,000 feet marker and we had to do a kn95 mask buy so as to breath. Air at this height is very thin. Few seconds later the plane’s hangar door opened, the noise of wind rushing filled the small plane and we had to relay on hand signals to communicate. I hanged my legs over the edge of an airplane buzzing at 18,000 feet over Santa Barbara with panoramic ocean views… and then I jumped! Shop some graphic tees to wear on your skydiving adventure.
At 18,000 feet – that’s me in the green shirt
The first few seconds were exactly like the pivot point one reaches during a meditation session. My mind just stopped. Stillness.. peace, freedom. Time stopped. I was awake, aware and overwhelmed. Few seconds later the rush of adrenalin filled my body and I was screaming over the top of my lungs from the thrill of a Skydive out of an airplane at 18,000 feet over Santa Barbara in California USA.
The Plane which took us to 18,000 feet
Skydive Santa Barbara
Skydive Santa Barbara is the only drop zone in California to feature 270 degree panoramic ocean views on every jump. Additionally they are the only skydiving center in the Los Angeles area to offer tandem jumps from 18,000ft, the highest tandem jump in the world. If you’re flying through your private jet, you should be buying private aircraft insurance.
Skydive Santa Barbara is fully recognized by the FAA and has operated daily for the last 15 years with an untarnished safety record.
My jump on video
My brother and a friend visited us in July 2010 and we (including my wife) decided we wanted to seek some thrills. On our drive to Los Angeles we stopped by the Lompoc airport for a 18,000ft Skydive. Here is the video of the event.
Hidden in Mountain View, California, few minutes walk from Castro St (downtown) is one of a kind 13,000-square-foot (1,200 m2) community center and hackerspace. It is called Hacker Dojo. Every since finding this place I have been less frequent at Red Rock and more at Hacker Dojo where I am also a member and occasional acting staff.
http://www.hackerdojo.com/
What is Hacker Dojo
Hacker Dojo is a community center for hackers and thinkers to meet, discuss, learn, create, build and play.
Hacker Dojo is a community center in Mountain View which is about 1/3rd coworking space, 1/3rd events venue, and 1/3rd a big social living room. In the spirit of DevHouse, a physical community space for hackers and thinkers on the Peninsula in the San Francisco Bay Area. This is a location for events, lectures, parties, BarCamps, DevHouses, LAN parties, hackathons, knitting circles, tinkering, brainstorming, coworking, etc. While Hacker Dojo is technically a “members only” private club, they welcome visitors to many of the lectures and classes, and invite people to use the space on a drop-in basis as well. It is not a residential space. The Dojo is a community space first and foremost – this means that the focus of the layout and activities is to lend itself to be a useful place to throw classes, host parties, brainstorm, and hang out. * Source HackerDojo
A number of reasons, but the most important one is that it’s very hard to study and tinker in an environment that is set aside for living, eating and sleeping – the home. Like they say to never study in bed since it’s used for sleeping and if you do you will disturb your sleeping pattern. Which is why libraries are effective as a study environment – not just for the quiet zone but because you are in an environment with positive energy that encourages education. Hacker Dojo is that environment with the energy and resources which encourages hacking, tinkering & learning. It just works. I’m sure there is a proper psychology explanation behind this but I’m sure you know what I mean.
Let’s look inside
Here are some snaps I took while attending a mobile development class and then later hacking in one of the private rooms. Click each photo for a full size version.
Hacker Dojo - Savanna
Hacker Dojo - Mobile Development class in 140B
Hacker Dojo - 140B
Hacker Dojo - Private rooms
The dojo has it all for the nerd inside you
Ton of interesting and smart people either running their own startups or networking,
3 bathrooms,
A kitchen with filtered water and all sorts of teas and occasional freebie snacks,
Library with a vast number of technical and business books – both new & old,
6 x private rooms with whiteboards big enough to fit a team,
Top floor sports a living room style area where you can watch movies on a projector and kick back on a couch or bean bag,
Fully ducted air condition – perfect temperature year round,
Plenty of spare LCD screens to hookup your laptop to with converters,
Laser & injet printing facility (in Savanna room),
Fiber Optic Internet – fast up and down (see below). Great for working with remote servers.
Americans love coupons. Coupons are sexy. Coupons save you money.
It has always been an American Sunday paper tradition to clip coupons out for the week ahead. With the maturity of technology this landscape evolved and now most coupons are located online as the newspaper industry declines. So before you head out to shop in Silicon Valley, visit one of the following coupon sites to grab a bargain and save more of your money using coupons.
You might have already noticed that in the header navigation (above) of this site (The Road to Silicon Valley) I have already hooked up a “Save money” section to provide you with quick access to FREE at home printable grocery coupons and internet coupon codes. Those are powered by the no.1 coupon provider in America, Coupons.com. Keep on reading below to learn more about the best options to save money.
Coupons
A coupon is a ticket or document that can be exchanged for a financial discount or rebate when purchasing a product. Customarily, coupons are issued by manufacturers of consumer packaged goods or by retailers, to be used in retail stores as a part of sales promotions. Basically printing a coupon is like printing money without any commitment to purchase required (unlike group buying below which is the opposite).
Top 2 sites in the USA for printable coupons are:
Coupons.com – Top 50 U.S. web property and No. 1 in the Coupons/Rewards category*—as well as Grocery iQ® and Coupons.com mobile applications for iPhone® devices and the Android operating system. Coupons.com Free GroceryIQ mobile application is superb and does all the hardwork for you by connecting coupons and your SafeWay loyalty card program to your shopping list. It couldn’t get easier to plan your shopping and load coupons!
Coupon Mom – Stephanie Nelson is The Savings Mom on ABC News’ Good Morning America, where she has been a regular contributor since 2004. Her Good Morning America segments have taught viewers how to save in many areas, including travel, clothing, restaurants, groceries, gifts, theme parks, gardening and entertainment.
Group buying works that if a certain number of people sign up for the offer, then the deal becomes available to all; if the predetermined minimum is not met, no one gets the deal that day. Basically you have to “purchase” the deal in order to save X amount eg. buy for $10 and get $20 worth of goods. So there is a level of commitment required. Unlike coupons where no purchase commitment is required.
Top 2 sites in the USA which allow you to participate in group daily deals are:
Groupon – the big boy in group buying. No doubt you would have heard of them. Easy to use and always great products & services to buy. I’m a regular user of their simple, easy to use and efficient service.
Living Social – this is a Groupon competitor. Not as popular as Groupon but they do feature some good deals. The beauty of using these 2 sites is if a limited (1 per purchase) deal appears on Groupon you can go to Living Social and purchase it here too.
One fantastic deal every day with discounts of up to 90% at local restaurants, bars, spas, theaters, and more. See what’s listed today!
Also known as internet coupons since you need to be making an online purchase to take advantage of these – think godaddy codes. Internet coupons typically provide for reduced cost or free shipping, a specific dollar or percentage discount, or some other offer to encourage consumers to purchase specific products or to purchase from specific retailers. Nearly every online retailer or website has a place within its shopping cart or checkout process for promo codes or coupon codes. Use the sites below to get your discount codes when making any online purchase.
Top 2 sites in the USA which allow you to get internet coupon codes are:
RetailMeNot – offers discount coupons for more than 65,000 stores around the world. They have been around for a long time and always provide quality active coupon codes.
Find and share coupon codes and promo codes for great discounts at thousands of online stores.
Coupons.com – a one-stop shop provider for printable grocery coupons, local coupon, coupon codes and daily deals. Don’t forget to sign up to their free newsletter so you never miss a great deal.
Finally, regularly visit your favorite store’s website. They will always feature one-off limited time discounts especially around holidays. Any holiday in the USA is a good reason for these companies to lure you into their store via a great deal – some even up to 50% off during Thanksgiving festive season. I find subscribing to their newsletter always keeps me in the loop. And if you want to spend more time outside with your family and friends at night, then check out this Ware custom fire pit Naperville.
Best deals can be found during the following times of the year:
Black Friday (3rd Friday of November) – the day after Thanksgiving (3rd Thursday of November).
Christmas sales (before and after 25th of December).
So next time you plan on shopping don’t forget to check the above websites and save anywhere from 10-30% on your shopping bill. While your there, sign up to their newsletters / daily alerts so you never miss that deal. The money saved from this simple habit can be used for your education, your start-up or directed toward a number of other investment vehicles.
Musichouse was a music ecosystem compromising of an Electronic Press Kit (EPK) for artists & producers with exclusive access to online & offline (radio) broadcasting channels via RockinTheShed. We developed a number of monetization models to appeal to our target market and even put out some exciting Pantages events when we first started touring. RockinTheShed served as an initial hook to get leverage for Musichouse. We had a great team of smart entrepreneurs like Dave Manna (Sydney’s top Music Producer), Artur (RockinTheShed host) and Denis who is today the co-founder of embedster.com (Y Combinator 2010 Alumni).
The most complete music ecosystem
This consisted of three key components:
1) Electronic Press Kit (EPK) for bands / artists – a way for an artist to professionally express themselves online by providing information about the band and events in an electronic equivalent of a press kit. Some of the parts of this EPK include biographical & contact information, music clips with accompanying lyrics, videos from events, media information, calendar of upcoming events linked to eTicks system etc… Each EPK is monitored using custom internal analytics analyzing the “groove in your music” to help the artist profit from the distribution and monetization model linked up to their EPK.
To help with the distribution of EPK content, an array of specific social network applications and widgets “spread the word” and allow users on other networks to interact and explore artist content.
2) Digital distribution and unique online monetization model for Music – an artist shouldn’t be locked into the 1 monetization model rather have an array of options to choose from when it comes to distributing their assets like audio, photos and merchandise. MusicHouse will have 3 monetization models for an artist to use. Therefore being able to mix and match to see what works. Because we believe in giving the artist control, we are providing 3 monetization models (to start with) for an artist to use to distribute their music.
3) Online and Offline broadcast on radio stations world-wide through RockinTheShed (marketing arm of MusicHouse) and other planned shows. Essentially giving artists a fair go to get heard by millions of radio listeners, and thousands of ardent readers. If you were to click here, you’d be cleared of any skepticism you’d have had of a magazine’s ability to proliferate. To get heard an artist has to build “credit” through a web of interconnected and aggregated fan voting systems, fair-share inbounds back to MusicHouse and other algorithms that we have planned under the bonnet.
Vision: “To be the one stop shop for artists / bands when they want to express themselves and reach new consumer markets by getting heard internationally both online and offline”
MusicHouse would help artists and bands to promote their music by creating their very own Electronic Press Kit (EPK) which enables a connection with musicians, promoters, fans and radio stations around the world. It is differentiated through a multitude of music services to enable a richer online experience, better monetization model, and unique, powerful, integrated offline exposure channel for member bands to achieve airtime at radio stations world-wide.
What the site looked like (in development)
EPK (Electronic Press Kit) – Audio player
EPK (Electronic Press Kit) – Other sections
Musichouse Business Architecture
How we planned to monetize
The site never saw day light (production launch) since RockinTheShed (its partner & complementary business) fell apart and we decided to wrap it up. Although the technical skills learnt building this site proved (and prove) to be extremely valuable assets today.
RockinTheShed was a weekly 2 hour Rock and Alternative radio station show delivering sounds from local and international artists blended with current news and happenings in the Rock and Alternative scene around the world. The show played across 12 radio stations geographically in Australia, New Zealand, Canada and USA. We got to meet and interview many interesting and famous bands while expanding our broadcasting range.
Goal: “We wanted to help artists get heard on the radio.” Mantra: “Signed or unsigned, if it sounds good we wanna hear it.” – and so breathed & worked towards that vision.
There was 4 of us. All long-time friends. Two of the co-founders were deep into the Australian rock scene with one already managing an Australian rock band called Viperose. We saw this as an opportunity help Viperose and like bands get heard on the radio and explode onto the music scene. We all love music and this was passion married with business.
Our online services
We provided online tools for artists, broadcasters & listeners of rockintheshed.com. Those included:
Artists/bands: “Get heard” upload tools for artists to upload their songs and band information. We also provided Marketing banners to get artists to help spread the good deed of RockinTheShed and get fans voting for their songs to get heard on RockinTheShed.
Radio Stations: A secure login facility to download the weekly edited 2 hr RockinTheShed show including a playlist. There they could also find few marketing fillers & advertisements radio stations could use in their daily broadcasting.
Fans/Consumers: Ability to vote upcoming (uploaded by artist) songs and listen to uploaded songs including past RockinTheShed weekly 2hr show. Top voted songs would end up in the upcoming show. This encouraged artists to help spread our marketing banners (mentioned above) thus in turn getting their song played on RockinTheShed.
Facebook radio app: Allowed Facebook users to listen to the latest 2hr weekly show with similar voting capabilities as the RockinTheShed website without leaving their social network. This was a hit since Facebook was just growing.
RockinTheShed Homepage
Trivial background history: One evening when trying to work out a logo for the business we threw around ideas about what RockinTheShed meant to each of us. I started sketching these ideas and came up with a design (bottom left) which later was professionally crafted (bottom right) and become our logo and branding. Elevate your corporate branding with custom coasters from Aquaholic Singapore. These versatile coasters, personalized with your logo or artwork, are perfect for events, offices, or client giveaways. Combining practicality with elegance, they create a lasting impression while keeping your brand in focus during everyday moments.
The birth of RockinTheShed logo
Quick facts
Life span: 2 years Co-founders: 4 – Dave Manna (Sydney’s top Music Producer), Artur (RockinTheShed host), Denis (a serial entrepreneur whom managed the band Viperose and is today the co-founder of embedster.com, a Y Combinator 2010 Alumni) and me (The tech geek). Profitable?: Nope. Zilch. We had a long-term monetization plan once we built enough leverage. Why terminated: Chewing too much of our money and some of the co-founders had started looking at other opportunities.
Top 5 things I learnt from this venture
4 co-founders is a crowd. We had issues agreeing to decisions and at times felt like we were all stepping on each other’s toes. Maybe this was due to too many powerful personalities all at the same table but 4 definitely felt crowded.
Never relay on a 3rd party’s infrastructure for your “core” business. I didn’t like the idea that without the radio stations we could be gone. We had some trouble with 1 which proved to be a nightmare to manage but we survived and it left a sour taste. I decided after this to never build a business which relied on someone else’s infrastructure for the “core” of my business. This is like outsourcing your “core” business to someone else and hoping you will stay afloat – good luck!
Turn pains into solutions. We had certain internal issues with stuff forgetting to be done and late delivery of tasks. This meant our quality suffered. Instead of focusing on the negative aspects of this I asked myself what can I do to solve this. Then one day it hit me and I built a tool over the weekend solving this problem (while watching all 3 Bourne Identity movies).
To minimize loses, run an unprofitable business only when there is a profitable one under your belt. If it wasn’t for the profits from WebAnt this business would have cost me a fortune to sustain. Yes it was a fun business and extremely valuable to artists.
Outsource your weakest parts. Neither of us were good at website design which is why we now hire experts at Web Design Liverpool. The 1st few iterations of our site proved this lol. Instead of wasting further time trying to come up with a design that sticks we decided to outsource the design. We ended up going with a designer through elance.com. Because we also took the time to research BigCommerce design ideas, we were able to provide the designer with everything we wanted the website to have – and boy were we pleased.
I really enjoyed this business venture. It was fun. We got to go to many gigs, meet crazy and talented (sometimes both) bands & artists and it left us with wonderful memories. My band photography business (ernestsemerda.com) span off from this venture, I learnt how to build Facebook applications and Musichouse was born to complement RockinTheShed.
WebAnt was a holistic web analytics and automation service servicing corporate clients on the Australian market. WebAnt proved to be a competitor (at the time) to Red Sheriff (now Nielsen NetRatings) when the Australian market was not overcrowded with analytic tools. Overthrowing Red Sheriff as the web analytics provider of choice for MBF – Australia’s largest health benefit fund.
Our service offerings
Web Analytics tools and reports ranging from the standard client analytic type to website overlays, dynamic component tracking, email blast tracking, trend reports to footprints (heatmaps) et al. There are then also some great MYSQL reporting tools that you can use like this one, it’s critical to get the best one so we strongly suggest you have a look into that reporting tool for MYSQL.
Automation tools and reports to allow WebAnt subscribers to generate “phantom customers”. Then sending them interacting through subscriber http / https site and report back on findings. This proved to be the hottest and most value adding service add-on since it identified problems before they escalated / affected the larger online user community.
Automation in more detail
Automation plugin called InSite
Quick facts
Life span: 3 years. Founder: 1 (me) + multiple outsourced contractors on a need basis. Profitable: From the start – 20% in expenses and rest profits. Why terminated: Google Analytics entered the market – hard to compete with free.
Some product screen shots
Trivial background history: WebAnt began its life as BlueArrow (logo below) which was built as a complementary offering to a web design business I and a former AMP colleague ran. The web design business was my 1st true business out of University. Former AMP executive management invested in BlueArrow and WebAnt was born with branding capabilities to allow anyone to resell the product.
Precursor to WebAnt
Top 5 things I learnt from this venture
You need to spend money in order to make money. Sometimes more than you are used to / comfortable with. This was my biggest fear (initially) since the hardware cost us around USD 1,000 per month, yet it was only a fraction of what we were earning once we got it rolling.
Linux sh*ts all over Windows. We had both stacks (initially) and Linux always impressed me with its stability, up time, ease of maintenance without taking the site down and super performance. Need I say more lol.
Don’t get tied up in a “which language” debate. At the end of the day you are solving a business problem and whatever tools work at the time stick to them. BlueArrow was built-in classic ASP (remember this), then it was ported to PHP as WebAnt and later we introduced parts in C# & Java. It worked, we were profitable, it was fun to learn new languages and our clients were happy. Just make sure you monitor performance and stay on-top of the game (trends) and adjust as needed.
Results are everything and talk is just bullshit. Don’t get excited about a potential partnership / expansion unless you start seeing some results like customers signing up and/or your bank account dollars increasing. Everyone around you wants to make money off your idea and will talk it up like you will be a millionaire tomorrow. Just focus on your business and give them the tools to go away and bring those millions. Conversion optimization agency can help you maximize the potential of every lead, increasing conversion rates and driving revenue. Never lose focus of you goal.
Build a profitable business from the start. It’s alot more fun knowing that every sweat and late night you pull in is rewarded financially. The harder you work the more money you make (not always but you get the gist). Don’t hope that one day you will find a way to make money, do the hard-work now (at the start) and you will have more rewards. Take a read of 37signals/DHH style companies on being profitable and proud: http://news.ycombinator.com/item?id=169197
When I walked away from this venture I knew the ins and out of web analytics. I considered myself very well-informed. And to this day I still hold a very keen interest in data mining, analysis & analytics. Yes today I use Google Analytics for most projects which require tracking since it’s a lot simpler and easier than building your own home-grown solution + it’s a very powerful tool when used correctly.
Ramify was a company that was to provide tools and objective ratings of unit trust funds and Unit Trust Fund Management Companies using both quantitative and qualitative data. It was to be a valuable service to the Unit Trust Funds industry participants including retail and institutional investors, financial planners, agents, banks, Unit Trust Management Companies, regulators, etc.
Malaysia
We were a team of 3. We developed a working prototype & value proposition with plans to launch on the Asian market starting in Malaysia. The other 2 team members were industry veterans in the Unit Trust Funds industry in Australia and have spent time in Malaysia customizing the offering and business strategy, establishing strategic alliances, assessing the market potential, and conducting qualitative assessments of Unit Trust Fund Management Companies.
We flew to Malaysia with our Prototype to propose this Investment Opportunity to the board of RAM with the goal of:
Giving 50% equity to the investor (RAM),
in return asking for a purchase price RM2 million and
acquiring investor to provide RM2 million working capital.
We met many interesting and intellectually clever people. From the board of RAM (Malaysian largest rating agency) to investors from USA and CEO’s of various financial firms whom were interested in what we wanted to do on the Asian market. At that time no one was doing this and it seemed like this was going to be that multimillion dollar opportunity. In the end due to a number of reasons I cannot disclose here the deal fell apart. But it was fun while it latest and provided plenty of education.
Prototype screenshots
Here’s some screenshots of what the early (2006) prototype looked like.
Ramify - Homepage
Ramify - Fund Profile
Top 5 things I learnt
Don’t get too excited too soon. Deals come and go very quickly and even with the hope of smelling millions, it can fall apart very quickly and easily.
Surround yourself with smart people. You will be surprised how your thinking processes, behavior and views will change (for the better) once you spend time with very intellectually smart people. People that have been there, done that and can provide you with a wealth of knowledge & advise based on their experience.
Build a winning team. Everyone in the team should complement each other in some form or another. That way no one is spending time carrying the others on their backs. When you work, everyone works, on their parts. Then all parts come together like a transformer resulting in a giant unstoppable machine.
Business brings friends closer. Yes there is the old mantra not to run a business with your friends but my experience proved to be very fruitful here. It allowed us to get closer and build long lasting friendship. Boy did we all party in Malaysia… in style may I add. Memories that will never be forgotten.
It’s like there’s more of me working on this. We were a team of 3. This meant we got stuff done quicker and had access to greater brain power – the power of 3. We all supported each other during the down times and this kept the morale strong.
I walked away from this venture a new man. Now I know what it feels like to be at a pinnacle.
I love tinkering and bringing ideas into reality. Seeing that idea come to life is amazing. The energy, thrill, excitement and daily challenges faced in order to bring an idea into reality is simply amazing. It’s true what Don Williams, Jr once said “The road of life twists and turns and no two directions are ever the same. Yet our lessons come from the journey, not the destination.”.
Below I share with you my entrepreneurial journey in Australia building start-ups and the lessons I have acquired by taking them. Without these I would not be the man I am today.
WebAnt Analytics– a quantitative service providing a holistic web analytics and customer metrics solutions that allows you to get inside the mind of your online audience. This also included the famous InSite module which could generate “phantom customers” for automation & monitoring. We used a lot of interesting models I learnt during the course of my MBA studies to provide a unique selling proposition and differentiate ourself from our only competitor on the Australian market (at the time), Red Sheriff. And then came free Google Analytics (Urchin) and the show was over. To read more click here.
Ramify – a company that provided tools and objective ratings of unit trust funds and Unit Trust Fund Management Companies using both quantitative and qualitative data. It was to be a valuable service to the Unit Trust Funds industry participants including retail and institutional investors, financial planners, agents, banks, Unit Trust Management Companies, regulators, etc. This one took me to Malaysia, presentations to board members of RAM (Rating Agency Malaysia Berhad) and dinners with CEOs of financial banks. To read more click here.
RockinTheShed – A weekly 2 hour Rock and Alternative radio station show delivering sounds from local and international artists blended with current news and happenings in the Rock and Alternative arena. The show played across 12 radio stations geographically in Australia, New Zealand, Canada and USA. We got to meeting & interview many interesting & famous bands and expand our broadcasting range. My band photography business span off from this venture. To read more click here.
Musichouse – A music ecosystem compromising of an Electronic Press Kit (EPK) for artists & producers with exclusive access to online & offline (radio) broadcasting channels via RockinTheShed. We developed a number of monetization models to appeal to our target market. RockinTheShed served as an initial hook to get leverage for Musichouse. We had a great team of smart entrepreneurs like Dave Manna (Sydney’s top Music Producer), Artur (RockinTheShed host) and Denis who is today the co-founder of embedster.com (Y Combinator 2010 Alumni). To read more click here.
Startup School 2010 was a success! both on the quality of the turn out of entrepreneurs, speakers and the organizers – Y Combinator and Stanford BASES.
The day started on a nice crispy Saturday morning 16th October 2010. Breakfast was provided to all those that attended while the Dinkelspiel Auditorium at Stanford University was prepared.
The morning of Startup School 2010 - at Stanford, Dinkelspiel Auditorium
Startup School 2010
Schedule
The theater got packed out with many great minds of all ages – even entrepreneurs 12 years of age eager to start changing the world. The following are notes I took during each of the speeches + video. Hope you enjoy the content and find it as valuable and inspiring as I did.
Brian Chesky (Founder of Airbnb) speaking to an audience of entrepreneurs. Spot me in the 3rd row! 🙂 Photo by Robert Scoble
Andy Bechtolsheim - Founder of Arista Networks & Founder of Sun Microsystems
Wow, what a great start to this day. Andy went over how Silicon Valley got to where it is today and then touched up on the following interesting topics:
The process in creating a business is in 3 steps: Discover –> Design –> Deliver
“Discover” phase has more value but typically less money is spent while moving to the right to “Deliver” has less value but more money is spent on it.
“The Horizon Effect”, also a topic in psychology, outlines how the majority of humans only purse goals which are in our horizon, stuff we can see, instead of stuff we cannot see. Aim past the horizon like Christopher Columbus did when he sailed past to the horizon only to find that he would not fall off the edge of the world.
Great companies:
Apple – spends the least on R&D ($1.2b) and consumer research. They trust their gut instinct to deliver super products. They also have less products to maintain than most companies.
Google – expects to solve the impossible. Most of their success today is attributed to the 1 day per week given to their employees to brain storm & prototype new ideas.
Innovation is the never-ending search for better solutions.
Most successful companies have more than 1 founder.
Paul Graham - Partner of Y Combinator & Founder of Viaweb
Paul spoke of Super-angels vs. VCs and how the landscape has changed. I didn’t take notes during Paul’s speech since Paul made it available online here.
The best way to have a good idea is to have plenty of ideas.
When something makes you angry, write it down. Then find a solution to fix it – that’s an idea right there. The question then becomes “how do you filter many ideas into a few to action”.
Key to business traction: Make someone awesome so that they show it to their friends who too want to become awesome. Hence they end up using your product.
Finding a good co-founder is like there is now 2 of you doing this.
Early on you don’t need offices, go virtual with a product like CampFire.
Private offices eliminate idea generation and progress. It is detrimental.
User “Experience” is the most relevant, not the technology. You are selling the experience not the technology.
As a founder, optimize your business venture for happiness. Read book “Drive” which outlines 3 human needs: Autonomy, Mastery and Purpose. Seek Freedom and Autonomy.
In the end, you want to have a choice and be happy about it.
Over drinks (after work) is where most ideas come from. People are more relaxed and free to let their imagination run wild.
Establish a business agreement (contract) at the very beginning of your venture. This should outline who does what and equity split. This eliminates nasty legal issues once the business becomes successful.
Books recommended by Tom for every entrepreneur to read:
Reid Hoffman - Partner of Greylock & Founder of LinkedIn
There is around 7 +/- 2 of sites people have in their mind. Your goal is to be one of those 7. Search is in the 7.
Competition is the noise you need to get above. One way to do this is to make sure they sux and you don’t.
Release version 1 of your product asap to test your hypothesis early and to prove your ideas. If you are not embarrassed by version 1 you have released too late.
Build an intelligence network early, from investors, co-founders etc to help with testing your hypothesis (pivot).
Make social features available for when new customers ask – “who else is here that I know”.
Don’t plan for more than 6 months forward since the consumer internet changes rapidly.
Hire people who cohere as a group and learn quickly.
Solve your venture’s hardest problem of distribution e.g. how to get to massive size. And then you are on your way to success.
If you are on LinkedIn let’s connect. Just let me know who you are.
My LinkedIn profile is located here: http://www.linkedin.com/in/semerda
Ron Conway - Partner of SV Angel + Ron's good friend MC Hammer
Provide a service where users are happy and then monetize.
Entrepreneurs build and innovate companies and investors should be lucky to be a part of it.
Never forget its your company, the founder’s company.
Once an entrepreneur, always an entrepreneur.
It takes guts but anyone can do it.
It’s crazy to start a company with 1 founder. It’s all about building a great team. And if you are a founder you have to build a great team some day so why not build it the day you start the company – the 1st hurdles to get over.
There is more in the videos below where Ron outlines his journey and the journey of great friends from Napster, Google, Facebook and Twitter.
Don’t be a cannon fodder. Work on things you love. Life is too short.
Key before you start your own music startup:
Artists are poor so they won’t pay you,
The market is totally saturated,
The economies are challenging with required payments to labels every quarter and lawyers waiting for you to become big so they can sue you.
If you want a good laugh and learn heaps about the risks of starting up a music venture then you should watch Dalton’s music business review (videos below) of his 6 years of building Imeem, what worked and what didn’t.
Mark Zuckerberg - Founder of Facebook speaking with Jessica Livingston (Y Combinator partner)
Facebook’s mission is: Give people the power to share and make the world more open and connected.
Mark stated that he acquires companies primarily for the excellent people. “Past handful acquires were a success so why not more.”
The goal is to build Facebook as the McKinsey of Entrepreneurship.
In the video below Mark speaks with Jessica Livingston (Y Combinator partner) on the initial days at Facebook, about the new movie Social Network and answers popular questions about Facebook.
Had many unsuccessful launches but persistence got them through. Paul Graham stated “you guys won’t die, your like cockroaches”.
Michael Seibel from Justin.tv introduced Brian and his co-founder to the Y Combinator methodology and eventually to Paul Graham. Initially, Paul didn’t like the business idea. That changed quickly.
Brian used a classic motivation / psychology approach that Anthony Robbins teaches: “Whatever you focus on expands (you get)”. So he decided to focus on revenue by printing a positively inclined graph depicting revenue and pasting it on the bathroom mirror. This way it was the 1st thing he saw every morning and the last before going to bed to dream. It worked!
Paul Graham advised: “Go to your users”. So Brian and his co-founder flew to NYC, Washington DC and Denver and knocked on people’s doors to sell their service – “do you know how much your bedroom is worth?!”.
Then, David, Barry Manilow’s drummer posted his apartment for rent while he toured with Barry Manilow. This changed the direction of AirBnB and the 1st “wiggles of hope ~ PG” appeared. AirBnB launched version 5 of their product and started to be Ramen Profitable.
Today, AirBnB is in 8200 cities, 166 countries and traffic has started booming in the last 5 months.
AirBnB is now a “Community market place for space”.
All this started with an airbed in a living room to solve an accommodation problem.
The following videos are titled “Powerless and obscure” – 1,000 days ago (October 2007). How Brian started AirBnB and it nearly fell apart only to survive after the 5th launch. Very inspiring and educational.
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