Posts Tagged ‘Small Business’

Running a Business is Tough, But It Could be Worse, We Could be Olympic Curlers

As the t.v. ratings indicate, U.S. audiences are caught up in Olympic fever.  I’m not exactly sure why this Olympics is so different than the Torino games in 2006.  It may be due to the fact that these Olympics are in North America and we can, generally, watch the events as they happen (not on tape delay).  I really think it’s because the U.S. is actually winning.  If we had a guy who could ski and shoot well, I guarantee that the biathlon would be a national craze.  I’m not saying this because I’m any different…I’ve never cared so much about hockey until the U.S. was playing for gold (hockey to me really is soccer on ice, and soccer is boring on grass). 

But unlike hockey players (who are professionals and merely taking a two-week Olympic vacation), and Shaun White (who is a millionaire and video game inspiration), most of the Olympic athletes work a patch-work lower paying jobs that provide them flexibility so they can train during the 3 years and 50 weeks they aren’t competing for medals. Take a member of the U.S. Curling team as an example.  According to a recent CNN article, it costs $150,000/year just to train for qualifying events.  They must use all their vacation time (and additional non-paid time) to travel to events…and oh yes, they have to train 5 hours a day.  The only upside in being an Olympic Curler is that it appears to be an in-demand activity for Wall Street traders(so they may have a future career in providing outrageously expensive lessons to overpaid quants).

All of this comes down to a point…I swear.  For entrepreneurs and small business owners, the passion is creating and growing a business.  Overtime, the business grows or at the very least the owner gains valuable business experience for the next venture.  But an Olympic Curler, after 4 years and thousands of dollars is left with little media coverage, no endorsements, and, if it’s the US team, no real shot at a medal.  That’s commitment.

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Posts Tagged ‘Small Business’

KikScore interviews Virna Lisa, creator of RedBud Body Care

Virna Lisa , shares with KikScore the history of RedBud Body Care and her unique approach to small business. Virna is truly an inspiration not only to women in business but more importantly to the inner strength of women overall!

Redbud Body Care was named after the Eastern Redbud Tree found in North America. The uniqueness of this Tree is how the flower buds shoot directly from the bark. The flowers are also edible and contain health enriching anti-oxidants.

1. Tell us about RedBud Beauty and who you focus on serving?

Our philosophy is based on the Ayurvedic principle that whatever we put on our skin should be good enough to eat. In addition to the freshness of the product we take into account that every one’s constitutions and predispositions are drawn towards particular scents and textures. RedBud Body Care respects the truth that nature provides us with all that we need to stay in healthy rhythms with ourselves and the world around us.
In support of eco awareness and upholding standards that sustain our planet, we use organic ingredients, glass containers, recycle and compost our soil enriching ingredients.
This product is good for everyone. Take into account that some people have allergies to certain flowers and herbs.  First do a test patch on the inside of your wrist before using.

2. How did you get started selling RedBud Beauty products online?

The business was first introduced on Shustir.com and then posted on a partnering website that sells products to Yoga Studios, Spas and Yogi’s & Yogini’s.  We are already selling our products in a few venues right now that were generated through Redbud Body Care directly.

3. Where will RedBud Beauty focus most of its energy in 2010?

Our focus is getting the name Redbud Body Care out to the public via the internet since so many folks do their shopping online.  We would like to have the product out regionally and then move to a national market.  Redbud Body Care is also working with Eco Yoga (TM) which is another business I own.  Yoga & Ayurveda are sister sciences so the businesses dovetail nicely.

4. If you had 2 lessons learned from your business that you could pass on to others about selling online, what are those?

Being in business for yourself can get daunting, I always try to remember to do nice things for myself, like walks out in nature, warm baths with yummy herbal infused oils (that RB sells) and spending time with people that believe in your mission.  Support in a new venture takes a lot of support.  Take advice from people that have been there before you and have something of value to add to the company.

5. As 2010 begins, what do you see as 2 new trends in your business this year?

The small business market has an incredible opportunity to make a mark for itself in this market.  Big business is struggling with their big budgets.  Creating handcrafted products that are of great value to the customer as well as the public at large is in demand.  People want to feel like they are getting their money’s worth.  I also think that the Green movement is finally to take the market by storm.  We have to take into consideration how we spend our money in the business so that it supports the market as well as the planet.

6. If your business/store could be any movie or movie character, what movie/movie character would it be and why?

This one is tricky since it’s still in its infancy stage.  I was once told by Horst Rechelbacher that a business is like a baby that needs to be nourished.  I am not sure what it is going to grow up and be.  I would want RB to grow up to be an inspiration for others a source of wisdom and leadership.  I’ll have to work on this vision and get back to you when it gets into the teen age.

7. If RedBud Beauty could have a token spokesperson for your company who would it be and why?

I would love to have Oprah be it’s spokesperson because she is a beacon of hope in my eyes.  She has overcome so many obstacles and has risen to incredible heights.  If I ever meet her I’d thank her for her leadership and tenacity.

8. Do you have any parting thoughts for our readers and the small business community?

To quote Hillel “If I am not for myself, who will be for me? If I am not for others, than what I am? If not now, when?” We must believe in ourselves, love ourselves and try our best to live the dream we embody. Having said that I believe it’s important to have some kind of spiritual grounding that creates community as opposed to separating us.

Thanks again Virna and best of luck to RedBud Beauty!

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Posts Tagged ‘Small Business’

Social Commerce Camp DC Wrap-Up, Summary and Presentation Slides

Shashi B talking social media at KikScore's and Network Solutions Social Commerce Camp DC

Social Commerce Camp DC speakers and Sponsors Network Solutions, KikScore and MyBusinessAssistant

Last Saturday morning, KikScore, Network Solutions, and MyBusinessAssistant.com put on the first ever Social Commerce Camp DC at the downtown offices of Mayer Brown.  The event actually sold out after receiving considerable coverage in a number of places like  Techcocktail the Washington Examiner, WomenGrowBusinessand GrowSmartBusiness. More than 70 small businesses, social media enthusiasts and online sellers showed up for networking and learning.  The event featured three sessions from social media experts that included practical tips for using various social media tools, a real case study of social commerce success and great PR tips for small business. Pictures of the event, including the post-SCCDC Chipolte run, can be found here.

The morning got kicked off with some early networking, a great breakfast provided by the sponsors and everyone’s excitement about being in the absolutely gorgeous town hall conference room overlooking 19th Street.  After some introductory remarks, Network Solutions’ Shashi B got Social Commerce Camp DC going with his rousing, often funny and super useful Social Media 101 for Small Business. Check out Shashi’s slides below that cover a range of subjects on social media including the basics of a small business social media plan which are: 1) Set up Google Alerts about your business, industry and your own name; 2) Start participating in conversations; 3) Become a content publisher via Twitter, LinkedIn, blogs, podcasts, Facebook etc 4) Claim you business on Yelp; 5) Encourage customers to review you and 6) Start using videos.

After a quick networking break, Steve Fisher and Mike Doughtery began the second session with an energetic and highly informative case study presentation on Creating a Killer Social Commerce Website Experience.  It featured the very interesting discussion of their launch and promotion of the movie Browncoats: Redemption. Steve and Mike got the audience engaged as they walked through the basic components of building a successful social commerce experience which are: 1) Social Shopping; 2) Ratings & Reviews; 3) Recommendations & Referrals; 4) Forums & Communities; 5) Social Media; and 6) Social advertising.

After setting the baseline for the audience of the basics of the social commerce experience, Mike highlighted how the Browncoats: Redemption experience used a 6 step strategy to create awareness and buzz around the movie.  The 6 steps were: 1)   Establish your goals; 2) Build the community; 3) Give them good content; 4) Get them involved; 5) Get them investing and 6) Share the success.  Check out their slides and the embedded video clips in them for more on the highly anticipated movie, their case study and these 6 steps:

The final session of the day featured the very highly regarded PR and social media specialist, Shonali Burke, who gave the attendees a great hands-on tutorial on PR Best Practices for Small Business. Shonali stressed that so much of PR today for small business is about relationships, presenting yourself in a consistent and presentable manner through your various online and offline channels.  The audience got great tips on tools to use to get to know their customers better with survey tools like Survey Monkey along with good press release tools like Pitch Engine.  Here are Shonali’s highly informative slides:

Some quick final thoughts.  We think it was a great first event and thank all of the participants and speakers.   Check out the hastag #sccdc on Twitter for the stream and conversation about the Social Commerce DC.  Lastly, look out as the next Social Commerce Camp will be in Denver later this spring.  In the meantime, we encourage all participants to keep up the good vibes and connect with each other! Also please check out the KikScore (SCCDC’s sponsor!) website out. We would love comments/feedback/thoughts on our new look and feel.  We encourage you to sign up for our service if you have a business online. Its completely free.  Try us out.

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Posts Tagged ‘Small Business’

Has the Bad Economy Driven Social Media Growth By Small Businesses?

As you all know, we at KikScore are passionate about small business.  We take every opportunity to hype small business as much as we can.  Well a very interesting study was released last week about the state of American small businesses.   The very informative  Small Business Success Index (SBSI), sponsored by Network Solutions and the Center for Excellence in Service at the University of Maryland’s Robert H. Smith School of Business had some interesting findings  (The SBSI can be found at www.growsmartbusiness.com).  In particular, there are some very informative findings in the study about the growth of social media use and adoption by small businesses over the last year and especially during the time of our rough economy.  Here are just a few of the key findings in that area:

• Social media adoption by small businesses has doubled from 12% to 24% in the last year.

• 75% surveyed have a company page on a social networking site

• 61% use social media for identifying and attracting new customers

• 57% have built a network through a site like LinkedIn

• 45% expect social media to be profitable in the next twelve months

What may this mean?  One theory is that as we went through the rough economic times over the last 18 months, small business may have decided to slow down traditional spending on marketing and focused on devoting more time and resources on using free marketing tools like Twitter, Facebook, YouTube and LinkedIn.  While we know that these are not really “free”, because there is a precious value that is associated with the time that small businesses spent using these tools, nevertheless the low cost marketing alternatives that these tools offer may have really proved to be great options during leaner times.  And that is could very well be why we are seeing this growth in small business social media adoption.

I can tell you this, at KikScore as we have described in some previous posts social media has really been the core driving force of our marketing efforts and it will continue to be in the future. As an example, everyone of the links to the tools mentioned above actually goes to a KikScore social media property.  In fact, just yesterday we set up a Flickr page.  We have used each of these tools instead of spending our precious cash on traditional marketing efforts.  The SBSI findings seem to indicate that we are part of a growing group of businesses that are doing just that.

I do wonder whether these trends will continue as the economy hopefully starts to pick up.  What do you think is the reasons behind this growth in social media that was found in the study?

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Why you need to Build the Right Team for small business success

On Sundays, my husband and I usually try to plan out our week… which in turn yields discussions of when I have KikScore conference calls to when he can go have some beers with his buds, while juggling our 2-year old daughter’s bedtime schedule.   The KikScore conference calls change in frequency week to week, depending on the next big item we are working to push through or brainstorm on.  And I realized that having a key team and truly enjoying the people you do business with is crucial to not only its success, but your own sanity.  I was reading in Business Week about Hunch, and Caterina Fake brings up a very critical component of small business success — Building the Right Team.

Anyone can come up with a business idea, but taking that idea and making it a viable venture that can grow and prosper requires more brain power than one can share.  Creating a team of that nature isn’t easy by any means.  When I explain the KikScore story (at least since my involvement) to family and friends… it’s best summarized as: KikScore is the side-business I’ve been working on with a group of talented friends – ranging from development, project management, business development and lawyers… a few from previous jobs/lives and combination thereof.  The thing is, I wasn’t the one with the big idea, but when the core founders Mike, Raj and Joel approached me to jump in and help streamline the KikScore scoring algorithm,  I was honored and ecstatic to be part of an entrepreneurial journey.

The team continued to build from there as we quickly found that off-shoring all of our development was not only costly and time-consuming, but left us with little control over the integrity of the code.  So we searched (again from previous jobs/lives) to find an in-house development resource that could oversee the coding efforts and allow us to piecemeal items off-shore as needed, but not as a 100% solution.

Since we are still a night/weekend business, we have many conference calls and e-mails flying about daily.  Another key component to a strong team is keeping the communication open and being able to speak your mind — we argue, which in turn generates new ideas and challenges each of us to listen with respect.  This re-iterates the need for a strong team focus.  Each member has their primary role (albeit marketing, development, design, etc) but we all wear multiple hats when it comes to driving the KikScore business forward and setting priorities. In a start-up environment, flexibility is vital – what was a hot priority last week, can take a complete 180 turn the following week based upon customer feedback or some unforeseen influence.  The team needs to be able to react, respond and regroup —  effectively.

If you are working on a new business idea, who will you pull into your inner circle to make it happen?  Be selective… you’ll be spending way more time (on late night conference calls, etc.) with them, than with your family.

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Posts Tagged ‘Small Business’

See how YouRenew has revolutionized the recycling world

YouRenew was recently showcased on All Things Considered segment NPR.   After frantically going to the website to determine the value of my drawer full of out-dated gadgets, I contacted YouRenew to tell us their adventure story.   David Walker shares the exciting chronicles of the YouRenew journey with KikScore…

1. Tell us about YouRenew and who you focus on serving?

YouRenew is an electronics re-marketing and recycling company that allows individuals to sell back their used mobile electronics and keep them out of landfills.   Customers across the country visit to find their devices, receive an instant price quote and download a free shipping label to send in their devices – once the devices arrive at the YouRenew facility, customers are sent a check within days.

We recently launched CorporateRenew, a service that allows businesses and other organizations to sell back their used cell phones and smart phones to enhance their environmental credibility while adding to their bottom lines.  We have been gaining significant traction across the country with business in a wide variety of fields via our website.

2. How did the YouRenew website and recycle service come about?

YouRenew was founded in March of 2009 by Rich Littlehale and Bob Casey who believed that given a convenient opportunity and proper incentive, individuals and organizations want to do the right thing with their used mobile electronics.  As only 10% of the discarded cell phones in the US were recycled in 2008, Rich and Bob saw tremendous opportunity to grow a business and make significant social change.

3. Where will YouRenew focus most of its energy in 2010?

In 2010 YouRenew and CorporateRenew will focus most of their energy on reaching out to individuals and organizations to let them know that there is a better alternative than the trash can. Both businesses and individuals are able to receive significant value for their used electronics and can take pride in knowing that they won’t end up in a landfill.

4. If you had 2 lessons learned from your business that you could pass on to others about offering an online service, what are those?

The best lesson we can pass on about having an online business is to be fully transparent to the customer. Individuals and business clients want to know exactly what we do with their used electronics, and we show them! Any business that believes in their service as we do at YouRenew and CorporateRenew should be transparent with their customers.

5. As 2010 begins, what do you see as 2 new trends in your business this year?

As 2010 begins we see a lot more individuals and businesses putting significant emphasis on environmental responsibility.  This is a great trend for us as we offer a service that proves that being green is not just an environmentally beneficial decision, but is a financially beneficial decision as well.

6. If your business/store could be any movie or movie character, what movie/movie character would it be and why?

We would have to be Tom Kelly Jr. from Tommy Boy as we are young, creating jobs in Connecticut, and Tommy Boy is simply a great movie!

7. If YouRenew could have a token spokesperson for your company who would it be and why?

In the midst of the Winter Olympics, we would have to go with Apolo Anton Ohno as he revolutionized a niche sport and brought it to national fame.  With e-waste just becoming a significant issue, we are revolutionizing the way individuals and organizations dispose of their used mobile devices.

8. Do you have any parting thoughts for our readers and the small business community?

This year alone 1 billion cell phones will be created world-wide. Help us keep them out of landfills and bring you significant value for your used devices through YouRenew.com and CorporateRenew.com.

Thanks YouRenew… now back to searching through my drawers.  Please share any other recycling tips you’ve discovered.

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Send Us Your Questions For Social Commerce Camp DC

As many of you know tomorrow  KikScore, Network Solutions, and MyBusinessAssistant.com will be putting on a first of its kind event in Washington DC from 8am-noon called Social Commerce Camp DC.  As we mentioned before this first time FREE event is getting some serious buzz with the recent coverage in Techcocktail and the Washington Examiner.  It has also been covered on multiple blogs including WomenGrowBusiness and GrowSmartBusiness. We are excited to announce that the event is now completely SOLD OUT!  Thanks to the more than 100 small businesses, social media enthusiasts and online sellers that have signed up.

Since this event is more about the participants than the organizers, sponsors and the speakers we want to know what are your questions that you would like covered during the morning sessions.  Please leave us your thoughts and questions in our comments section below.  We will make sure they get them to Shashi B, Shonali Burke and Steve Fisher.  Or find us on Twitter at @kikscore, @shashib,  @shonali or @stevenfisher.

If you have any questions about the agenda for tomorrow’s Social Commerce Camp DC, please visit the event page we set up.

On behalf of the organizers, sponsors and everyone else involved with pulling Social Commerce Camp DC together we want to convey our thanks to the community as we prepare for tomorrow’s event!  Bring your questions and get ready to participate and network.

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Posts Tagged ‘Small Business’

At What Point Should a Small Business Call in the Lawyers?

“The first thing we do, let’s kill all the lawyers”.  It’s a oft-repeated phrase from Henry VI (and from many former clients).  Love them or not, at some point, every small business is going to have to work with (or against) a lawyer.  Some do it early, some later.  Think about just setting up a business.  Do you do operate as a sole enterprise, and LLC, a corporation or (if working with others) a partnership.  What are the implications of these decisions? 

You get past formation, now does your business have a special product or process that should be protected with a patent filing?  Is your business name something you want to protect (or at least prevent your competitors from using) — if so, looks like you’ll have to consider filing for a trademark. Your website is up and running…do you have a site agreement, terms of use, etc?  What about a privacy policy?  Where do you get a good and enforceable service agreement?  Now your business is growing and you must hire employees and contractors to help, what agreements do you need in place and are you aware of the relevant employment laws and regulations.

I’m not making this post an advertisement for the legal practice, but with all the potholes out there, it’s scary.  If your business is fairly straight-forward, you can take advantage of commercial forms (take a look at LegalZoom).  But that won’t get you all the way there.  For example, we here at KikScore have a couple of lawyers as part of the team (myself included).  You’d think we wouldn’t need to hire outside lawyers for our start-up.  Well, it may be because we don’t have the brightest lawyers on staff (myself included), but we have a patent lawyer and an outside corporate lawyer helping us out.  I’m not saying this is the way to go…I’m sure because of our backgrounds we over think a lot of the decisions.  In fact, my dad has operated relatively lawyer-free for the past 30 years and has handled most of his business disputes in small claims court.  But he’s also heavily armed, so it’s not an apples-to-apples comparison.

What’s your opinion on when to call in the unfrozen cave-man lawyer?

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Small Business Interview with CardSauce.com owner Kevin Hoyle

It’s February 15th… How did you celebrate the weekend with your Special Valentine?   Chances are high you sent or gave a card.  So, how long did you stand there in the card aisle, climbing over other sentiment seekers, trying to find the perfect one?  Our KikScore interview today is with a unique online card company that not only offers one of a kind designs and sentiments, but will also print and mail it for you! CardSauce has surely spiced up the greeting card industry and we are excited that owner Kevin Hoyle took the time to share his story.

1. Tell us about CardSauce.com and who you focus on serving?
CardSauce.com.comis a new online hub for quality, physical greeting cards and we’re here to spice-up the industry by offering a unique, user-driven experience! At CardSauce.com, we cater to…
– Buyers: When a customer places an order, we print the card(s) and mail it to the recipient(s) for them.
– Sellers: Artists (or graphic designer, photographer, etc) have the opportunity to upload original sauces (greeting cards) and sell them. Each time an artist’s design is purchased, he/she makes $1. It’s a true user-driven experience. While we do feature some original CardSauce.com designs, the cards featured are mainly “by the people, for the people”.
 

2. How did you get started selling online?
When the amount of times I found myself staring at unoriginal, unexciting cards at traditional stores and reseller outlets began to add up. I realized I was spending more time looking for an appealing card than I was on celebrating the actual event that the card was intended for. So I thought, why not move the future of greeting cards away from the mainstream corporations and place it into the hands of everyday people like you and me? Whether physical greeting cards are given to remind of an old memory shared, create a new memory, serve as inspiration, or spark a laugh, they all serve a common purpose: to relate or connect in some way to the recipient. So by allowing everyone and anyone the opportunity to create and sell original designs – not only does it generate creative cards for buyers to choose from – but it adds a level of authenticity to the industry as well. Sellers from various backgrounds, cultures, religions, etc can put a little piece of their life into their designs – building a portfolio of cards that offers something for everyone.

Why is CardSauce.com physically online, you may ask?  Well, in addition to it being more cost-effective to start (I’m a “one-man-band” with limited funding), it adds convenience for buyers and sellers.  Buyers can quickly browse the database of designs by category or key word, and can purchase and send cards from the comfort of their own home (plus let’s face it… gas money and stamps add up).  Meanwhile, sellers can pursue a hobby they may not have otherwise had the opportunity to pursue – all while making a profit, or royalties, on each sale.
 

3. Where will CardSauce.com focus most of its energy in 2010?
In 2008 we focused our resources on web development and software.  Once CardSauce.com went live to the public in 2009, we realized we were not yet where we wanted to be and continued our focus on site enhancements.  Now that we feel comfortable with our offering from a web standpoint, we’ll focus our energy toward generating awareness and site traffic in 2010 – while continuing to enhance our core offerings.

4. If you had 2 lessons learned from your business that you could pass on to others about selling online, what are those?
My two lessons would be more about business start-up than CardSauce.com.  First and foremost, technology – computers and the web in particular – is not as accommodating as people may assume. Sure, technology continues to advance at an incredibly fast rate and there are gadgets and software that exist today that people never assumed possible.   But that doesn’t mean you can “do whatever you want” with a website (remember, I’m not the IT guy here).

When I was first scoping out my idea to potential web developers, I lost count of the amount of times I heard “that’s not doable”, “there’s no way to build that”, or “we can do that, but it’s going to be incredibly time-consuming and will cost you thousands of dollars”. I essentially had to change the blueprints of the website throughout the process and it was very educational.  Things seemingly as simple as having PayPal split a single payment to two recipients is not doable, and that altered the entire make-up of the CardSauce.com checkout process.  It’s really incredible – though sometimes it causes some road bumps.

The second lesson I learned is don’t rush it, no matter what “it” is!  For example: Card Sauce, Inc. was incorporated in the fall of 2007 based on expectations set by my original web developer that the site would go live to the public within the next four months.  The site didn’t go live to the public until the summer of 2009! That’s two years of paying federal and state taxes without any source of revenue… NOT cool! 

Another example is when CardSauce.com.com finally did go live in June of 2009, it was not ready from a visual standpoint or a functional standpoint.  I was forced to hire on a new web developer and start from the ground up behind the scenes, while the original site just kind of took up real-estate on the web. With first impressions being so powerful, it’s important to capitalize on potential customers (buyers and sellers) immediately and we were unable to do that. There’s no telling how much business we lost in those early months.

5. As 2010 begins, what do you see as 2 new trends in your business this year?
Growth and revenue. With ’08 and ’09 being all about web development and 2010 being all about generating awareness and site traffic, it’s difficult to imagine any other trend(s) taking over one of the top two spots.

6. If your business/store could be any movie or movie character, what movie/movie character would it be and why?
Great question; I think I’ll go with Finding Nemo.  With industry powerhouses like Hallmark and American Greeting Corp. around, CardSauce.com is a classic “little fish trying to make it in a big pond” scenario – but in the end I think we’ll be able to pull it off.

7. If CardSauce.com could have a dream spokesperson for your company who would it be and why?
Not really sure; greeting cards aren’t exactly the type of product or gift that fall into the “seeking celebrity endorsements” category. I’d imagine we’d probably work the humor angle and find someone witty and original to exemplify the user-generated designs available for purchase.

8. How do the folks at CardSauce.com let loose after a busy day working?
Well, I’m currently operating a “one-man-band” that is only just beginning to focus on generating awareness and site traffic (revenue), remember? So, until CardSauce.com starts to pick up, it is my “after hours” gig. I currently work full-time during the day and spend many a late nights trying to perfect the sauce. When I’m not working, I enjoy letting loose in a variety of ways – whether it be dabbling in some physical activity (the gym, ice hockey, etc) or a frosty beverage with friends/family. Now that it’s ski/snowboard season here in Boston, I hope to be able to make a few treks north as well.

9. Do you have any parting thoughts for our readers and the small business community?
Only to support the CardSauce.com revolution and buy your quality, physical greeting cards online, of course!

So, get out the calendar, outline your greeting card list this year and surprise someone with a unique CardSauce.com design! And, share your spokesperson ideas with Kevin and CardSauce.

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American Idol and Our New Start-Up

I’m sitting on the couch, watching the latest American Idol episode.  Two things cross my mind.  First, if Simon Cowell is going to leave, I only plan on tuning in next year if Howard Stern is the “honest” judge.  And, by all accounts, there’s a decent chance that may happen.  The second thing that occurs to me is that there are some decent correlations between start-ups and American Idol.  What are they?  Here’s a fun list:

1.  Talent is only Half the Battle:  In Adam Smith’s finest hour, efficient markets rule the day and ours is a completely idea/concept driven economy.  But this isn’t Mr. Smith’s ideal economy and style often overrules substance.  Often times with American Idol, those with the best voices don’t advance.  Instead, those with a “story” or a “hook” advance.  The best example of this is Sanjaya — no real talent other than creating buzz that advance far into the competition.  The same is true with start-ups.  You can have the best concept/product in the room, but it won’t matter unless you have an excellent marketing plan.

2.  Hurry Up and Wait —  People stand in line for days to audition for 30 sec0nds.  Painful boredom leading up to small windows of defining moments –you live or die within those moments.  The same is true for new businesses.  Your concept lives or dies by how you do in a call or meeting. 

3.  Balance of personalities.  You have Randy Jackson (the technician), Kara (the nicer one) and Simon (the honest voice).  Most businesses have a similar balance of views — as no single view can best handle all situations. 

4.  Talent Comes from Anywhere — Kelly Clarkson was an unknown before AI — she is now an industry force because of the opportunity given to her.  Similar with business, Silicon Valley doesn’t have a monopoly on technology or new concepts.  The next big thing can come from anywhere, including Farg0-Moorhead.

Those are my 4 paralells — feel free to share other similarities.

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