Thursday, July 28, 2011

The Lessons I’ve Learned From Starting a Company

via Under30CEO by Under30CEO on 7/26/11

lessons learnedStarting a company is difficult for almost everyone, but especially so for kids in middle school, high school, and even college.  As kids, we’re inexperienced and naïve, and we know what will and will not work out much less than the adults around us. Younger people are not as learned in particular areas of study, and we do not have finely honed skills like our adult counterparts, meaning we are not as valuable to potential co-founders. From these challenges, I have learned many lessons.

The first idea:

I am going to be a junior in high school, and first got the urge to be an entrepreneur and start a company at the beginning of my sophomore year. I had no idea what to do or how to begin, so my first inclination was to sit around and think of an idea for a business, outsource the coding and development work for the project, and then launch in the hope that investors would come bursting through the door with money to help me expand. My idea was to create a small business profiling site that would make it easy for people to find places to go when they needed or wanted a particular service or item. I thought I should keep the idea a secret until it had been completely developed so no one could steal it. However, I should have been talking to businesses and their customers to see if they would use a service like this. At the time, I thought this idea was brilliant. I outsourced the coding work, and spent $1000 dollars of my own money, to build a product that was far from the one I envisioned. My money was wasted, and I had found out the hard way that my idea was not viable.

From this experience I learned a couple of things, one of which was that outsourcing work is a very risky endeavor that should only be done with care and great attention to the person or company you are outsourcing to. The other thing I learned was that sharing your idea with others is much more valuable than keeping it to yourself. By giving others an idea of what you are trying to do, you will get valuable feedback as well as figure out whether or not your idea has legs.

The next idea:

As I went on from one idea to the next idea, I discovered that finding a co-founder; especially one with a technical background was a very difficult thing to do. Any time I would go to a service or ask other people for introductions to programmers or coders, I was met with reluctance. I think my age was a very small part of the difficulty in finding a co-founder; rather I had not put in the effort to attract a technical business partner besides having my idea. The thing I learned from trying to find a technical co-founder, was web developers and software engineers appreciate people who try to do something themselves before going for help. Looking back, instead of spending large amounts of time sending emails to technical people, I would have been much better off spending my time learning how to code, building a prototype, and then reaching out to someone after I had put in a good effort. Now I’m learning how to program, and my advice to anyone who is planning on starting a web or mobile-based business is to use their free time doing just that. I’ve talked to different people about the value of being able to create your own applications, and they say eventually if you want to start your own business you will have to know how to code.

In late April, I read about an event called Startup Weekend. At a Startup Weekend event, business people, designers, and developers come together to launch a business in 54 hours. I decided to attend Startup Weekend NYC, which took place from June tenth to June twelfth with my dad. I had an idea set in my mind that had been validated by many people I talked to. Friday night I pitched the idea, and had a great team form around me to begin working on the project. My goal for attending the weekend event was to win the competition. Our team did not win the whole competition, but did win a $500 dollar prize for the best planned implementation of PayPal. The idea I had for that weekend, was an application that made buying and selling spots in line secure and simple, so people do not have to waste their time in line. Our splash pages are at www.selfey.com or www.selfey.net if interested. The final lesson I learned, which I took from Startup Weekend, was that when doing a startup you must surround yourself with good people. I was incredibly fortunate to have honest and talented people working with me to bring this simple idea into what could be a business. Now that the weekend is over, we are still working hard on the project.

As a first-time entrepreneur, I have learned many things that I hope will be valuable to the people reading this. All of the points I have mentioned in this article will hopefully help teens and young people alike who want to start a business. However, before any of the knowledge you have picked up can come into play, you have to get out there and be devoted to seeing your well-thought out idea help users in one way or another. While the goal of a business is to make money, having happy users will lead to revenue and profits down the road. Once you are completely committed to a project, even with bumps in the road to success, you will persevere and find your way.

Jack Kaufman is a fifteen year old student in high school and is the founder of Selfey. He is passionate about pursuing his entrepreneurial dreams and also loves learning how to code. You can follow him @kaufman_jack.

10 Tips for a Killer Press Release

via War Room Contributors by Small Business Trends on 7/28/11

Are you using press releases as part of your marketing and PR strategy?

Press releases are great SEO builders. When you distribute one using a press release distribution service like PRWeb (there are other services, but I have a long-time love affair with PRWeb and they know it), it sends your release to dozens of news and niche websites. On each of those pages where your press release lives, there’s a link back to your website. Google thinks your website must be pretty awesome to have so many links from other sites, so it ranks your site higher in search engine results.

Here are my top 10 tips for getting the most out of your press releases:

1. Start with a gripping headline. Headlines are what draw readers in. If yours isn’t engaging and exciting, it’ll get skipped over. But on the other hand, if it’s something that stops you in your tracks, like “Fancy Underwear: Coming to a Mailbox Near You” (a headline I just made up for a pretend online lingerie store), you’ll get the clicks.

2. Use keywords. You want your press release to be found when people search for certain keywords that relate to what you do. Use tools like Wordtracker’s Keywords to find out what keywords in your industry people are searching for. Try to incorporate words that don’t have too high a competition level but are still getting a fair number of searches. Use them in your press release (but make sure they sound natural).

3. Include the basics. Thinking back to second grade grammar, remember who, what, when, where, why and how. These are the questions you need to answer in the first paragraph of your release. Assume people read nothing more than that first paragraph. It should provide all the basic details they need to know about your news.

4. Use a quote. People like quotes. I don’t know why. But having a polished quote that doesn’t say “I’m so excited about blah blah news” can enhance your release. Include a quote from the head of the company or someone involved in the news. Try to provide something useful (other than their reaction to the news). We know they think it’s great. Tell us something else.

5. Use a template. People think writing press releases is a lot harder than it is. Bill Stoller, The Publicity Guy, has some great info on what should go into a release. In looking at his or other templates, remember that you’ll be inputting it into a distribution system like PRWeb, so it won’t look like that. You can see how press releases look on PRWeb in this screen shot:

6. Include contact info. Seems like a no-brainer, but you’d be surprised how many releases there are without Web links, emails, phone numbers or social media links. Include all of them.

7. When emailing releases, focus on Tuesday through Thursday. Never email a press release on Monday or Friday. The reasoning is: On Friday people cut out early, so they’re in no mood to read your release. On Monday, they’re recovering from their weekend and are in no mood to read your release. Aim for midweek, between 10:00 and 2:00, for the best chances of getting read.

8. Never, ever email attachments. Attaching your release when emailing a journalist is tantamount to PR suicide. Nobody likes getting attachments from people they don’t know. I’m not even a fan of sending the whole press release. Instead, I give the outline of what it’s about and link to it (hyperlinking words like this). If they want to read it, they can click.

9. Check your stats. It’s easy to go into Google Analytics or any other analytics program and see what sites people are clicking from. You should be able to easily identify those sites that hosted your release. See how much traffic your releases are sending you and determine whether it’s worthwhile to build into your long-term strategy.

10. Keep the momentum. I recommend distributing one release a month. One release won’t drive tons of traffic and sales to your site, but over time, it will help you rank higher in search engines and get more traffic.

From Small Business Trends10 Tips for a Killer Press Release

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Six Financial Tips That You Can Learn From Harry Potter

via War Room Contributors by Elle Spektor on 7/28/11

harry potter finance

Harry Potter, the Boy Who Lived.

We’ve sat on the edge of our seats, following his adventures for more than a decade.

Click here to see six personal finance lessons you can learn from Harry Potter >

But now that the our favorite seven Harry Potter books and anticipated eight movies are officially over, it's hard not to feel like it's the end of an era.

Rather than wallowing away in the end of something wonderful, we can ask ourselves what there is to learn from Harry's timeless adventures.

Even in his youth, he dealt with investing, choosing the right bank, and the responsibility of dealing with a generous inheritance.  Don’t remember J.K. Rowling using that financial terminology? You just have to read between the lines. Follow along to read six financial lessons that we learned from our very own biz wiz, Harry Potter.

Click here to see six personal finance lessons you can learn from Harry Potter >

#1: Find a safe bank for your galleons.

Gringott’s Wizarding Bank, where most magical folk stash their savings, is owned and operated by goblins. Its main offices are located in Diagon Alley and—according to our lovable giant friend Hagrid—Gringotts is the safest place in the Wizarding World.

What can we, mere Muggles, learn from this bank? More than a few things.

For starters, it’s best to keep your money in an FDIC insured account. Make sure your cash is safely tucked away in a vault that is untouchable by anyone except you. All threats of identity theft should be closely monitored, so be sure to stick primarily to one branch. If you visit often enough, it will be easier for your personal banker or teller to spot an imposter (like when Hermione tried—somewhat successfully—to pass as Bellatrix Lestrange).

Even if your local bank doesn’t have an underground rollercoaster to access vaults, a fire-breathing dragon, or a multiplying gold charm, be sure to go to a bank that keeps your finances secure.

#2: Don't give up on your small business dream.

We’ve all heard the “If you have a job you love, you’ll never work a day in your life” expression. And what better characters to exemplify this life lesson than Fred and George Weasley?

These twins went a long way to make their dreams of owning a prank store a reality. They start off small—advertising their aging spells and fireworks across Hogwarts. Then, by the sixth book, the infamous boys launch their successful dream business, “Weasleys' Wizard Wheezes.”  

If your own small business would make your life bright, keep in mind that sometimes to achieve greatness, you have to start with a bang. Like, say, a free giveaway of popping fireworks! Giveaways are a great way to promote your product.

The twins gain a lot of recognition and cheer, and Gryffindor students react by demanding their attention-grabbing pranks.

Muggle lesson learned: start small, promote wide, dream big.

#3: Find a trustworthy investor.

The Weasleys got the money for their shop from loyal pal Harry Potter, who donated 1,000 Galleons of his Triwizard Tournament winnings.

Because Harry gave them their start-up loan, Fred and George allowed him to help himself to as many love potions, pimple banishers, and extendable ears that he liked, free of charge. They do ask Harry, as well as Ron and Hermione, to help spread word of their shop around the castle.

This form of word-of-mouth advertising, especially from your investors, is essential to operating a successful new business. So remember, if you’re looking for someone to invest, find someone you trust—who believes in the success of your business.

See the rest of the story at Business Insider

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Friday, July 15, 2011

30 Ways To Enrich Your Business With Words

via War Room Contributors by Wempy Dyocta Koto on 7/15/11

WritingWords change the world.

They inspire, unite, direct, empower and prompt action.

They also discourage, divide, anger, misguide, confuse and mislead.

Empires, governments, businesses, relationships and careers rise and fall because of words.

Study President Obama’s inaugural speech, John Lennon’s Imagine, Shakespeare’s King Lear, The Oprah Winfrey Show’s 25 years of broadcast, Forrest Gump’s sweet assessment of life and Pliny The Younger’s love letters to Calpurnia and you will realize the power of words.

In faith and belief, billions and generations of people have centered their lives on words within Judaism’s Tanakh, Christianity’s Bible, Islam’s Qur’an, the Hindu Sruti, Buddhism’s Theravada and more recently, Scientology’s Dianetics.

Words change the world.

As entrepreneurs, business leaders and aspiring company directors, think very carefully about the words filling the borders of your emails, documents, instant messages and social media profiles.

Never, ever, underestimate the professional and personal impact of the words you write and send into the ether. Businesses rise and plunge, with written communications evidenced everyday in the world’s courts of law in cases against entrepreneurs, CEOs, leaders and colleagues for abuse, defamation, breach of contract, incompetence, misdirection, unfair dismissal, harassment and unlawful business engagement.

As email is the dominant communication tool for entrepreneurs today, here are thirty suggestions to protect and power your enterprise with words that inspire, drive business, loyalty and return on written investment.

  1. Approach every email with the motivation of selling, optimizing or approving an idea, product, service, direction or recommendation. With time, revenue and organizational demands on yourself, the opportunity cost is high when communication does not originate from these objectives.

  2. Before writing, assess if your objective is more efficiently achieved with a meeting, call, office or workstation visit.

  3. Your parents, grandparents, guardians and teachers taught you manners. Please use them.

  4. Address the email recipient by her or his name. This also applies to cold sales prospects that you do not have a direct relationship with. She or he is not known to colleagues as a ‘Sir/Madam’ or ‘Whom It May Concern’. Research their name and designation and you are more likely to receive a response and better still, a positive one.

  5. ‘Hi’, ‘Good morning’ and the like are acceptable ways of starting an email. A less traditional approach is the way forward and if the recipient is based in another country such as Thailand, use a warm ‘Sawasdee Krub’ and thankful ‘Khob Khun Krub’. Case study, glocal HSBC.

  6. If you don’t have a direct relationship with the recipient, state how you are connected or where you acquired their email address, for example through a mutual contact, database, LinkedIn or web-research .

  7. Be honest, write with integrity, recommend responsibly and sell your proposition factually.

  8. Keep sentences and paragraphs short and to-the-point.

  9. Avoid unnecessary upper cases, exclamation marks, repeated use of symbols, emoticons and chat abbreviations.

  10. Minimize corporate jargon, acronyms and big words.

  11. Always use the spelling and grammar check tools.

  12. Clearly explain instructions, use simple words and delete words which may be open to misinterpretation.

  13. Reply logically, sequentially and thoroughly.

  14. Numbering and bullet-pointing are effective.

  15. Remove all negative emotions. If a subject matter is contentious, write or respond professionally with facts, void of emotion.

  16. Eliminate hyperboles, do not exaggerate and refrain from over-promising.

  17. Delete repetition.

  18. Replace negative expressions such as ‘don’t forget’ with engaging words such as ‘please remember’.

  19. Replace ‘ASAP’ with an exact date or time you require the work completed.

  20. Avoid being the individual who famously sends ‘URGENT’ emails. The financial and relationship impact of disrupting workflows is high and your ‘URGENT’ currency loses value each time you spend it.

  21. At key project junctures, explicitly state the business consequence if a task is not fulfilled.

  22. Only send and Cc relevant recipients who require your email to fulfil their tasks. Do not Cc or Bcc irrelevant recipients, as this reflects as sender insecurity, ignites office politics and impacts team productivity.

  23. If your company is a partnership or greater, weight towards using the royal ‘We’ rather than individual ‘I’ in your external communications.

  24. Intuitively ‘sense’ and ‘pick up’ on your sender’s writing style and tactfully align. For example, the CEO of a Fortune 1000 company may respond with a punchy 1-line question regarding your business. Answer concisely.

  25. When attaching documents, compress the files and organize with an end note referencing all attachments and links, so there is no disruption to the flow of your email.

  26. Start and end your written communications positively.

  27. Know exactly when to cease email communications, step in and take discussions offline.

  28. After an offline conversation, send a ‘Per our discussion’ agreement summary.

  29. Read business journals, media announcements and advertising copy. Communications professionals are gifted at synthesizing information and presenting a simple, singular and strong argument for a product or service. Key to this, I recommend purchasing and lobbying for an e-book of ‘How to do better creative work’ by Steve Harrison, one of the world’s most awarded and acclaimed creative and writing geniuses.

  30. Stamp your awesome personality within the communication. You’re signing off with your name. Own it!

Words can and will shape the future of your company and the world’s perception of it.

However, with 1.9 billion email users exchanging over 294 billion messages globally everyday, something more important than your words is? The environment.

Care, challenge and catalyze change within every institution, client, colleague or partner who prints or requests you to print any email or documents exchanged. Educate them about digital alternatives to storing, presenting, viewing, sharing, editing, signing and transmitting documents. You are brilliant, but none of your words or your sender’s words are as important as the shared survival of our world’s ecosystems.

Within the thirty years between 1960 and 1990, scientists estimated that one fifth of the world's tropical rainforests were destroyed, significantly fuelled by global demand for paper products – largely contributed by our hunger to exchange and ‘consume’ words. Deforestation kills ecosystems and accelerates climate change, with the National Geographic Society warning that the world’s rainforests could completely vanish in a hundred years at the current rate of deforestation.

With almost 300 billion email messages advancing human knowledge, accelerating business, tightening relationships and conversationally crossing the world everyday, understand the definitive power of your words. However, take a humbler position of its value when weighted against the serious global issues of deforestation, habitat destruction, wildlife extinction and our planet’s very survival and sustainability.

Words are central to the human experience of communication and catalytic to the business pursuit of enterprise-building and profitability.

Words can build nations, companies, confidence, loyalty, relationships and trust. They also have the power to cause the opposite.

There is no ‘chicken or egg’ analogy in this situation. It is very clear. Before actions, come words.

It is with intelligence, integrity and commitment that actions thereafter speak as loud as the words.

Think forward, write well, lead change, print never, recycle always and start today.

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Monday, July 11, 2011

Why Bank Bailouts Haven't Led to Jobs

via HBR.org by Jeff Stibel on 7/11/11

Given the recent economic news, I will go out on a limb and state that we are officially headed back into recession, or what can now officially be called a double-dip recession. Business optimism is at a record low, commodities prices have jumped to inflationary levels, home sales recently dropped to prices not seen since 2008, and job growth is anemic. We are just waiting for GDP data to confirm the inevitable. As Forbes reported, the Chairman of the Federal Reserve has admitted that he is officially "clueless on the economy's soft patch."

Things are a bit more convoluted than they were back in late 2008, when it became clear that the United States and much of the rest of the world was in a recession. It was largely believed that the recession was caused by reckless banks and a crisis in confidence. The result was reduced consumer spending, financial uncertainty, and a stark reduction in the number of jobs available. Congress was convinced that they must stabilize the economy by infusing big banks with capital. And infuse they did; to the tune of $700 billion. Almost three years later, many banks have repaid the loan (and have also posted record profits), yet by all accounts it appears as if we are sliding back into a recession. What happened?

When it comes down to it, economic recoveries depend on job growth, which is what the stimulus was intended to trigger. Banks were supposed to lend money to companies, who would in turn spend money to create new jobs, which would mean more employed people with money to spend, which ultimately would boost business revenues and create new jobs — a virtuous cycle.

But jobs haven't really grown. For a few months in a row, we were thrilled to see 160,000 new jobs created per month. Unfortunately, these gains were largely illusory. The new jobs created weren't steady, full-time, middle class positions. Instead they were part time, project based, transient, and low wage. Many can be attributed to a McDonald's hiring surge. Even these low wage jobs are hard to come by — there were over one million applicants for the available 62,000 McDonald's positions, making gaining employment at McDonald's just as difficult as gaining admission to Harvard University. Numbers released earlier this month show what is probably a more accurate reflection of "real" job growth: only 18,000 new jobs created in June. Even worse, the Labor Department adjusted the May numbers downward to 25,000 — less than half of their initial assessment.

So I should modify my statement to say that economic recoveries depend on real job growth. Past downturns, including the Great Depression, triggered massive increases in new business creation. This one is different: since 2007, we've had a 23% drop in new business creation. In the same period, we've also suffered a net loss of 7 million jobs.

Job growth, as it turns out, is largely driven by small businesses. Typically this comes from new business creation that builds a small business economy that drives 64% of all jobs. But in order for small businesses to be created and hire during economic downturns, they need access to capital, which is often provided by big banks. This, of course, was a primary driver of the $700 billion in economic stimulus that went to banks but, as we have learned, it did not go to small businesses. And this is the primary reason why we are still in a recession.

Many thought that the $700 billion bailout was going to trickle down to small business owners. This didn't happen. The banks took the money, invested it, earned a large return for themselves, and then repaid the government. The 22 largest recipients of the bailout actually reduced small business lending by over $59 billion through last year. Congress largely considers this program a success: they avoided a complete financial collapse and recouped a good portion of the money invested. But the economy desperately needed (and still needs) that money to circulate to small businesses.

During the recession, small business owners did what they could to survive — they tightened their belts, reduced their costs and cut headcount. Today, only 5% of business owners think it's a good time to expand and very few intend on creating full time jobs (though 58% of employers say they plan to hire more temporary and part time workers). There are considerably more business owners who expect business conditions to be worse in six months rather than better. Even the businesses that are optimistic and thus inclined to secure financing are finding loans hard to come by. A recent Pepperdine University study found that only 17% of small businesses who applied for loans were able to get them. It is no surprise that small business owners' optimism has declined for three straight months and that only five percent of them think this is a good time to expand.

What's the solution?

We must go back to the drawing board and figure out how to get cheap and convenient capital into the hands of small business owners. Stimulus money needs to be earmarked for small businesses. Banks that took loans from the government need to start spending on small businesses. This is as good for them as it is for the overall economy.

Some banks understand the mutual benefit and are starting to invest in small businesses of their own accord. Goldman Sachs is giving away $500 million to small businesses, with the stated purpose of unlocking small business "growth and job creation potential." JP Morgan Chase plans to increase their small business lending practice to $10 billion annually. And Bank of America is increasing by $5 billion annually. Plans and pledges are important, but action is needed: the pledged money needs to be spent.

The funds must come with relative ease and favorable terms, just as it did for the banks who received a bailout. Many business owners say they don't want loans because the terms are so stringent and the process is overwhelming. But if the terms are reasonable and the process is easy, few businesses would refuse an opportunity to grow.

Every recession in recent history has ended with job growth coming from small business creation... except this one. That's why the recession is not ending. To end this once and for all, we must help small businesses help the economy by giving them easy access to capital from which to hire employees whom will ultimately be contributors to the overall economy.

The Ultimate Office Design For Getting In Shape Throughout The Workday

via War Room Contributors by David Teten on 7/11/11

Sergey Brin

When Arnold Schwarzenegger first came to America and started becoming the world's most successful bodybuilder, he and fellow bodybuilder Franco Columbu worked during the day as bricklayers. Effectively, their work was their workout. Plus, of course, they hit the gym hard and heavy.

Unfortunately, most people are not that lucky -- we work hunched over our computers in office jobs which detract from our health, instead of helping our health. My colleagues at ff Venture Capital and I want to work in an office which makes working in an office job a workout -- a (partial) substitute for visiting a gym.  We think there's a way to design office work so that physical fitness is integrated throughout your day. We'd value your ideas on how to do that.

The way in which most people stay in shape is fundamentally broken. They work a desk job for 8-12 hours, and then go to a gym three times a week for 45 minutes to (supposedly offset) that desk job.  As the New York Times recently wrote, sitting kills.

According to research done by the Vermont Board of Education, exercise is not only healthy for you, but it also increases your productivity. Increased blood flow leads to greater cognitive abilities -- the Greeks knew this. The idea of making the white collar office a healthier environment has started to enter mainstream social consciousness. A small number of offices across the country have slowly begun to endorse the idea of exercising while doing a white collar job (not before or after), e.g., walking on a treadmill while doing your job at Mutual of Omaha.

An additional incentive to remaking the workplace into a healthy, exercise-supportive environment is the cost benefit.  We think that many of the design changes we envision cost little or nothing, and can save us and our team money on their health care in the long run.  More on this below.

We just moved from our prior office to take over the 3rd floor of our building at 989 6th Avenue, a 5,000 square foot space. We had the luxury of designing this office from a blank slatebecause it was completely empty when we moved in. We're filling it with our own team, plus a couple of startups in our portfolio (Parse.ly and Phone.com) -- and soon other startups that we'd be honored to include in our future portfolio.

First, here are our core operating principles:

  • Healthy alternatives should be truly viable alternatives, not luxury products. Almost all of our ideas cost the same or less than setting up a conventional office.
  • Motion is better than no motion; stasis kills. (That's a life principle, not just a fitness principle.)
  • Standing is healthier than sitting.   Excess sitting can even shorten your life. 
  • Standing on a flat surface is healthier than standing on a distorted surface. Up to a third of women suffer permanent problems as a result of their prolonged wearing of heels, ranging from hammer toes and bunions to irreversible damage to leg tendons.   Similarly, men (and women) who wear shoes with even low heels (1-2 inches) also suffer adverse effects. We want to make an office receptive to women and men wearing whatever shoes they like, including but not limited to comfortable shoes without heels, also known as "minimal shoes".

Our portfolio company BetterWorks, an employee perks and rewards solution, often points to Gallup research showing higher profits, sales, and customer loyalty from companies with higher engagement.  Engagement itself is a proven byproduct of wellness, and as recently reported by The World Economic Forum: "Employees are eight times more likely to be engaged when wellness is a priority in the workplace."

Based on these core principles, here are some features we are placing in the office:

Desk Setup
Every person in the office will have a choice of 3 setups:

We plan to encourage people to have multiple large computer screens at each desk, space and budget permitting. Multiple computer screens have been shown to increase productivity and efficiency. We will also encourage telephone headsets (~$90-250), which are more ergonomically sound than a standard telephone set up.

We will also offer each person in the office an ergonomic keyboard.  We suggest one of these, in ascending order of distance from a conventional keyboard: 

For a mouse, we really like the Designer Appliances E-Quill-AirO2bic mouse ($90). Another option for data input is dictation software and microphone, such as Dragon's NaturallySpeaking (~$50).

We also suggest people consider using:

  • Hand grippers (~$15) for flexing during phone calls to relieve stress and improve grip strength.
  • Wobble Boards (~$55) for use when at a standing desk.
  • Pedometers (~$20) or pedometer apps, for tracking miles walked per day.  People wearing a pedometer walk about 30% more per day than people not wearing a pedometer. (background)

Shoes
People in our office can wear whatever they want as long as they are reasonably modest and bathe regularly. (We do draw the line at nudists on the night shift.) We definitely do not want an office in which people feel pressure to wear any particular type of clothing, including but not limited to high heels (women) or low heels (men).

Personally, I like minimalist or 'barefoot-style' shoes. I particularly like the Sockwas ($50), which look like inconspicuous sneakers, and the Vibram FiveFingers ($83-92), which look like gecko feet, for training.  However, we recognize that not all offices will be as tolerant of idiosyncratic footwear. When I'm in a fundraising meeting or other more conservative environment, I wear my Bally Pakos (style 6152604), which have the most comfortable minimal sole of any mens' business shoe I've found.

I'm impressed by Sergey Brin's aplomb; he has appeared at several conferences wearing his Vibram Fivefingers. As the old joke goes, the difference between crazy and eccentric is only a few million dollars.

Conference rooms and meetings
We are setting up three conference rooms: one with exercise balls as chairs (~$40-$150); one conference room with a standing table (~$950 on up) and anti-fatigue mats; and one conventional conference room with conventional office chairs. I've seen research that indicates standing meetings run much faster than sitting meetings.

In addition to the alternative conference rooms, when the New York weather allows and when a meeting topic doesn't require taking extensive notes, we will have walking meetings.

Office Setup
Given that social capital correlates with physical health (see Bowling Alone), we want to encourage people in the office to get to know one another.  At the front of the office, we'll create an office map showing the names of our portfolio companies, and the photos of the employees that work at each.

Some other ideas we like, but can't execute in our office for logistical reasons:

  • shower, for people to clean up after jogging / biking to work.
  • Pull-up bars (~$30), for periodic pull-ups/muscle-ups when you have an occasion.  In our office most of the doorjambs are glass, but if we expand to another floor we may have the option of installing pull-up bars on doorjambs made of wood.  New York startup Workmarket has a pullup machine right at the front of their office, with a list by it of the records set by different people who have visited the office.
  •  We also looked into treadmill desks (~$2,000). The user walks slowly while talking to clients, writing proposals, checking email, or any other activity one would normally do at a desk. You could integrate ReRev into these treadmills; the company retrofits exercise equipment with a device that recycles excess energy created.  At least for now, we've rejected this idea because of our concern about noise pollution.
  • nap room, for when our team just need a little rest.
  • A corporate gym. In lieu of our own gym, we're going to investigate getting a corporate discount at a neighborhood gym.
  • IdeaPaint has developed a new kind of paint that allows any wall to be used as a dry erase board. This new technology encourages more open dialogue and presentation at meetings as no one is isolated from the board, and is also very economical. We likely won't need this, because our conference rooms have glass walls.

Food and Snacks
In the holistic spirit of our initiative, we want to introduce healthy food options into our office environment when we serve food. Among the writers we like on this topic are John Durant of the Hunter-Gatherer Blog and Michael Pollan, author of The Omnivore's Dilemma. Both of them advocate for all-natural, unprocessed, healthier alternatives to the more common industrialized foods.

Here is a list of snacks that we think are consistent with our food philosophy and appropriate as hors d'oeuvres, for example, when we host our periodic invitation-only idea dinners:

  • organic vegetables, e.g., edamame, avocados, carrots, celery
  • organic fruit, both fresh and dried
  • cereal without sugar (koshervitamins.com has a good selection)
  • whole grain pretzels, unsalted
  • dips: guacamole, bean dips, hummus, organic sugar-free applesauce
  • low-fat cottage cheese/yogurt
  • mixed nuts, unsalted
  • mini brown rice/sesame cakes, unsalted

One last idea that we have decided to integrate into the new office, which we believe will be very popular, is that we will serve free beer and/or red wine on Fridays. Studies suggest that light to moderate alcohol consumption can be quite healthy, particularly for the heart.

Travel
Because white collar work often involves travel, we are also encouraging our employees to adopt a fitness routine while on the road, since travel normally disrupts ones regular workout routine. We encourage our team to bring whatever equipment helps them to stay fit on the road, e.g., a travel workout kit.

Technology
As investors in early-stage technology companies, we are particularly interested in some of the new technologies that have emerged that promote fitness, and we'll promote their use.  For example:

  • Camspace, an ff portfolio company, allows everyday objects to control a computer's actions through use of standard web-cams. At the front of the office, in lieu of the classic Foosball table, we'll set up a Camspace game.
  • BetterWorks offer large company group-buying for small businesses to take advantage of, for example, corporate gym discounts.
  • Games / apps that promote fitness, e.g., KeasFitocracyRunkeeperNexerciseetc. Some of these apps leverage game mechanics to promote fitness, and those game mechanics are particularly powerful if everyone in an office signs up for a given app.

More Radical Ideas
We have a lot of other ideas which are probably too radical for our office; these ideas might make some people uncomfortable.  However, you might be able to use some of these ideas in your own home/office.

  • A shoes-discouraged policy, perhaps with a shoe shelf (~$30-$300) at the office entrance.  In most Japanese homes, no one wears shoes.  Lloyd Blankfein, today CEO of Goldman Sachs, famously used to wear just his socks around the office.  Victor Niederhoffer, a prominent trader, had a sign at the entrance to his Park Avenue office, saying, "Please remove your shoes."
  • Squat toilets.  These are extremely common in Asia, but highly unusual in the US. Squatting when going to the bathroom is significantly healthier than sitting on a conventional western toilet.
  • Group morning exercises. Many Japanese workplaces start with a fixed set of morning calisthenics. However, we think this won't be well received in our working environment.

Rejected Ideas
We looked into a lot of other ideas not listed here, which we rejected as not being based on research/sound reasoning. One idea we looked into and had hear about was 'full spectrum lighting.' We had heard that this new technology, which tries to mimic natural sunlight, was supposed to enhance productivity. Ultimately, though, we rejected the idea as multiple studies found inconclusive evidence on its benefits.

We also considered adding air purifiers and ionizers, which remove pollen, dirt, dust particles, and allergens. However, a prominent study showed that such air purifiers often emit ozone which could be damaging to the human body, negating any real benefit.  We decided against including them.

We looked into the new 2bU line of health-focused vending machines. The company's mission is to only provide "Organic, Gluten free, Vegan, Kosher, Locally produced, Performance driven, Allergen free" products. However, their products looked too processed for our preferences.

Next Steps
Winston Churchill said, "The Americans will always do the right thing...after they've exhausted all the alternatives." We've now reached the point that 63.1% of adults in the U.S. were either overweight or obese in 2009; we're truly at the point of exhausting all alternatives. As my wife says, "The US doesn't have a debt problem; we have a healthcare problem."

The rebounding movement towards a healthier lifestyle will create significant investment opportunities, and we're actively looking for those that fit our portfolio, as well as those that benefit our team. Our investment in BetterWorks was in part driven by our belief in the importance of employee benefits in a tight labor market for highly qualified people.

We'd love your insights on what else we should put in the office -- and what we should invest in!

We thank 
Duncan MacDonald-Korth, Captain, University of Oregon Men's Tennis Team, for his help researching this blog post.

This story originally appeared on David Teten's blog.

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Brand matters. Start-ups should think like a T-shirt company

via War Room Contributors by Phineas Barnes on 7/11/11

The emotional bond with a brand is permanent...like a tattoo

The building blocks of modern programming languages, (X)aaS and the simple integration of social mean anyone can build a product or service cheaply and quickly — original or knockoff.

Good ideas will be copied so founders should leverage the technology ecosystem in hyper-efficient construction of brands that can emerge as category killers. To create significant enterprise value web start-ups need to think like a T-shirt company and build an emotional connection with the consumer that transcends the product.

In the T-shirt business, your competition has access to the same basic materials and blank shirts, the same printing and embroidery machines and the same stores for distribution. If you operated in this commodity product environment, would you stand out? If someone decided to knock-off your idea, would you keep your customers? Would you still be in business if you were selling T-shirts?

The commoditization of the technology stack means the copycats are coming. A focus on understanding the consumer and being best at the one thing they care most about is the only way to win.

At AND 1 we started with a brand thesis and used the commodity medium of T-shirts and shorts to deliver our message to the market. We focused exclusively on the ballplayer with attitude and spoke to him with every product, every ad, every piece of the AND 1 experience. We believed if we got our stuff on the backs of the most smack-talking, ankle-breaking, jump out of the gym ballers with attitude, the rest would follow.

We had to elicit emotion and connect in a way that transcended any one experience or product. (because even the best products can be copied)

We couldn’t out-spend anyone in marketing. We didn’t have the volume to compete on price. Heavier weight T-shirts in higher quality cotton and uniform quality shorts with a 3-inch waistband were our “technical” advantage. This got us in the market, but we knew the consumer better and the attitude we poured into every product allowed us to win. When NIKE and Adidas offered our $35 short for $30 and when all the MeToo brands jumped into the trashtalk T-shirt game our consumer stayed with us.

The other guys claimed to understand the consumer and they copied our slogans and our shorts, but it fell flat. We went deeper into the soul of the game. We embraced hip-hop swagger and launched the mix-tape. We were the playground brand when streetball was the brand of hoops everyone wanted to play and watch. We had NBA bound ballers tattoo our logo on their bodies while the copycats watched their stuff go on sale. Our target consumer wanted AND 1. Our brand was legit and we rode this brand legitimacy to over $200M in sales.

My experience at AND 1 taught me the power of brand and I see the next wave of massive enterprise value creation requiring brand investment. Companies need to differentiate on deep consumer insight and exceptional product experience to earn consumer love and loyalty.

Brand is as important to tech start-ups as it is to people who put ink on cotton T-shirts or sugar, flavor and color in carbonated water.

If you are building a brand, let’s talk. If you’re not, let’s talk about why not.

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Friday, July 8, 2011

Can’t Decide on a Tattoo? Get a QR Code Inked on Your Chest [VIDEO]

via Mashable by Brenna Ehrlich on 7/8/11

As part of whisky brand Ballantine’s “Leave an Impression” campaign, Paris-based tattoo artist Karl Marc seared a QR code onto his friend Marco’s chest.

Marc says the whisky company approached him and asked if he would be interested in executing the tattoo — a QR code that unlocked an animation when scanned — via a live stream on the brand’s Facebook Page. The brand is doing similar events with other artists, from ice sculptors to graffiti artists.

“The video was made during four hours, all live, with no breaks or interruptions,” Marc says. “I had a camera strapped to my head as well as microphones and battery packs. We didn’t know if the Matrix code would actually work right up to the very end. It worked on paper, but would it work as a tattoo?”

Judging by the video above, the tat was a success.

“What makes this tattoo special is not just that it links to an animation,” Marc says. “It’s that we will be able to change the animation as time goes on. As Marco grows older and his ideas change, we can create new animations that link to the Matrix Code.”

You’re probably wondering if the tat is fake — after all, that Facebook friend tattoo turned out to be an advertising campaign, as did the Ray-Ban tattoo. But Marc says that the ink is the real deal. And it does seems likely. There’s no hidden viral agenda here: Ballantine’s hosted the live stream of the process on its brand page.

Marc says he’s been getting a lot of requests lately for QR code tats, and he told us that he will be working with a company called MIYU productions on more ink of this ilk.

Marc provided us with Marco’s design. You can scan it to check out the animation that currently graces Marco’s body. Use ScanLife to access the video.


More About: Ballantine’s, MARKETING, qr code, social media, tattoo

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10 Things That Hold You Back from Outrageous Success

via War Room Contributors by Dumb Little Man on 7/8/11

If I could show you how you can become an outrageous success, would you be interested?

You see, human beings are naturally happy when everything negative is removed. It’s like trying to hold a beach ball underwater. As soon as you let go, it pops back up to the surface.

So imagine yourself being a success and all that it brings with it. It feels good, doesn’t it? You can have that, and much more, if you would just let go of the things that hold you back.

  1. Lack of Vision
    The number one thing that holds most people back is lack of vision. You have to get a clear image in your mind's eye about what success means to you. I'm not talking about having tons of money, five cars, and a huge house somewhere expensive.

    I'm talking about the life that you truly want to live. Think about how you would feel if you already had all that.

    In the end all we want is to feel good now.


  • Negative Expectations
    We've been conditioned to talk negatively to ourselves all day long. Some people don't believe in affirmations, but they go around telling themselves that they aren't good enough, that they can't accomplish anything, and that nothing is worth doing.

    Try saying those things to yourself right now and see how you feel. Positive expectations will make good things happen.


  • Blame
    There's no one to blame. You alone are responsible for not only the business success you have, but also how much you enjoy life right now. Even if someone did something wrong to you in the past, it doesn't mean that you have to be mad at them for the rest of your life.

    The only one suffering from you blaming others is you.


  • Negative Beliefs
    Everyone has their own set of negative beliefs. Figure out what yours are and start letting them go. There are a lot of ways out there that you can use to let go your negative beliefs.

    Many of them work. I personally help people do just this with NLP and sometimes EFT and the results are powerful, but the change starts with you making the decision.

    The problem is that most people like their negative beliefs, because they have benefits and feel familiar. They haven't realized that by letting go of these negative beliefs, you can feel even better and become even more successful.


  • Familiarity
    Familiarity holds everyone back, because feeling like you're safe and comfortable is nice, but it ultimately keeps you stuck. And it's nowhere near as nice as when you take action, face your fears, and build a life that you truly desire.

    Feeling uncomfortable when you do something new is a part of the game. It's just a sign that you're changing and making progress.


  • No Trust
    It's essential that you trust the process. You don't have to know exactly how you're going to earn more and become more successful.

    Your heart already knows where to go. Listen to your heart and follow your highest excitement.

    Trust yourself, because you are the only one who knows what's right for you.


  • Lack of Focus
    Another big stumbling block that may hold you back from outrageous success is the lack of focus. You have to have smart goals.

    If you begin a new project or start a new business, you have to put on the blinders and focus on nothing else.

    I’ve found that the more I focus, the better I do. It's easy to get distracted and sidetracked, I get that, but if you want success, you have to have laser-sharp focus.


  • Wrong View of Happiness
    Happiness doesn't come from the outside, it comes from the inside.

    Think about what you truly want when it comes to business success, and ask yourself what that will give you that you wouldn't otherwise have.

    Keep asking that question until you reach the end, which is usually peace of mind, happiness, joy, or something like fulfillment.

    The truth of the matter is that we all want to feel good, and we can feel good right away. You don't have to get stuff or accomplish things to do so.


  • Settling for Mediocrity
    This goes hand in hand with familiarity. It's easy to settle for mediocrity, because you may have felt that you weren't good enough up until now.

    You can change that whenever you want. Success isn’t what you thought it was. It can be fun and enjoyable.

    Everything we believe is just a map of reality, and the map is never the territory.


  • Passion Procrastination
    The most successful people are those who are passionate about what they do. Now, there are people out there that don't love what they do and are widely successful. The only problem with them is that they kind of hate life.

    Being successful is not about making a lot of money, it's about doing what you love, and feeling fulfilled.

    The funny thing is that when you do something you love and get really good at it, the money tends to follow.

  • You can become an outrageous success. All you have to do is make the decision today.

    Written on 7/08/2011 by Henri Junttila. Henri writes at Wake Up Cloud, where he shares his personal tips on how you can live the life you know you deserve. When you feel ready to take action, get his free course: Find Your Passion in 5 Days or Less. And if you liked this article, you will enjoy one of his top articles: 77 Great Quotes That Will Change Your Life.Photo Credit: grinapple


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    Extraordinary Lessons From The Richest People In The World

    via War Room Contributors by John Warrillow on 7/8/11

    Bahnhofstrasse

    One of the most fascinating elements of Switzerland's success is its determination to remain neutral under unimaginable pressure to pick sides. The country has not declared a state of war since 1847 (it never entered the World Wars or the Iraq war) and opted out of joining the European Union. They didn't even join the United Nations until 2002 and that was only after a country wide referendum.

    Despite what you may think of Switzerland's neutral geopolitical stance, it is hard to argue with the economic results of neutrality:

    • The World Economic Forum's Global Competitiveness Report currently ranks Switzerland's economy as the most competitive in the world.
    • In 2010, the Global Wealth Report by Credit Suisse Research Institute found that Switzerland has the highest average wealth per adult at $372,692, with wealth defined by the value of financial and nonfinancial (such as real estate) assets.
    • According to Trading Economics, the worst the Swiss unemployment rate ever got during the recent worldwide financial crisis was 4.2 percent in January 2010; today the unemployment rate is around 3.4 percent.
    • According to Mercer Consulting, in 2010, Zurich and Geneva were respectively ranked as the cities with the second- and third-highest quality of life in the world (behind Vienna).

    The Switzerland Structure

    The Swiss obsession with neutrality inspired the name of one of my core ideas for creating a valuable company. "The Switzerland Structure" is a way of evaluating your business to ensure that neutrality allows you to minimize your dependence on any one company or individual. I'd recommend you consider the Switzerland Structure in all areas of your business:

    Suppliers

    If your business is dependent on one or two key suppliers (companies or independent consultants), you are at their mercy. Cultivating a bench of suppliers, on the other hand, means you will never feel beholden to anyone. Spread your business around – even if you lose some special pricing discounts. Neutrality is worth more than a few dollars in savings.

    Employees

    If you're too reliant on any one employee, you are at a significant risk if that employee chooses to leave and at a disadvantage when it comes to negotiating his or her salary. To avoid this situation, nurture a pool of people you want to hire. Toronto-based executive search firm IQ Partners offers a bench-building service: it proactively recruits a short list of candidates who could fill your key roles so that you have a bench of people to go to in the event of an employee defection.

    Customers

    If you're too dependent on any one customer, your business will be highly unstable. It will be stressful to run in the short term and virtually worthless if you ever want to sell it. Try to work your customer concentration down to a point where your largest customer represents no more than 15 percent of your revenue. You'll sleep better at night and have a more valuable company when it comes time to sell.

    John Warrillow is the author of Built To Sell: Creating a Business That Can Thrive Without You, which was released by Portfolio/Penguin on April 28, 2011

    This post originally appeared at Inc.

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    More Men Are Moving Into Traditionally Female Industries

    via War Room Contributors by Kimberly Weisul on 7/8/11

    Male Nurse

    Is the economy in a recovery? Your answer to that may depend largely on if you’re a man or a woman, according to a new study from the Pew Research Center.

    It’s widely known that men were hit harder during the recession than women. Some 5.4 million men lost their jobs between December 2007 and June 2009, compared to 2.1 million women. At least part of that was due to the housing bust, which threw many construction workers out of work.

    Since the recovery officially began in June of 2009, women have continued to lose jobs while men have found them. Since 2009, women have lost an additional 218,000 jobs, while men’s employment has grown by 768,000 jobs. According to a new Pew Research Center analysis of Bureau of Labor Statistics data, the unemployment rate for men is now 9.5%, while the unemployment rate for women is 8.5%.

    Where the jobs are

    At least part of the gain in men’s employment has come in industry sectors, such as education and health services,  that are traditionally thought to be strong ones for women. During the recovery, men’s employment in education and health services has grown by 7.0%, while women’s has increased by 3.2%. According to this piece in the Washington Post, the number of men training to become nurses and pharmacy technicians is rising dramatically.

    The report looked at 16 major sectors of the economy and found that in all but one, men were gaining more jobs than women.

    • In five sectors, men have gained jobs while women continue to lose them. The difference in the retail trade sector is especially stark: Men gained 159,000 jobs while women lost 165,000 jobs.
    • In five other sectors, both men and women have gained jobs, but men have gained more jobs. These include education and health services and professional and business services.
    • In an additional five sectors, both men and women are still losing jobs. But men are losing fewer jobs in these sectors than women are. These include jobs in construction and local government. Overall, government has been shedding jobs, and more of those getting pink slips are women. During the recovery, federal, state and local governments eliminated 297,000 jobs held by women and 133,000 held by men.
    • In only one sector-state government-have women added more jobs than men.

    First of its kind

    These trends defy historical norms, says the Pew report. In all other recessions since 1970, both women and men gained jobs in the early days of the recovery, but women gained jobs more quickly. That was partly because women have been in the midst of a dramatic transition from home to the workplace during those years. This recovery is the first since 1970 in which women have continued to lose jobs after men started to gain them.

    Is the recovery creating jobs in your industry or at your company? For whom?

    This post originally appeared at BNET.

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    Wednesday, July 6, 2011

    15 Keyboard Shortcuts to Enhance Your PC Productivity

    via Mashable! by Matt Silverman on 7/6/11


    This post originally appeared on the American Express OPEN Forum, where Mashable regularly contributes articles about leveraging social media and technology in small business.

    If you fancy yourself a PC power user, you know how valuable it is to keep your hands on the keyboard. Constantly switching between typing and mousing can really slow you down when you’re powering through that TPS report.

    Lucky for you, the wizards at Microsoft have built some time-saving (if little-known) keyboard shortcuts into their operating systems over the years, with some really handy ones gracing Windows 7 and most modern web browsers.

    If you’re aiming to speed up your workflow and impress your colleagues at the same time, check out these little gems.


    1. Move the cursor one word at a time


    Cut through large swaths of text with this handy trick.


    2. Select one word at a time


    Similarly, you can highlight entire words in your text without pecking at those arrow keys.


    3. Delete entire words


    Bulldoze terrible sentences more efficiently with this shortcut.


    4. Select all text on the current line, relative to the cursor


    Don’t reach for that mouse. Instead of click-dragging the cursor, snap right or left with this fancy method.


    5. Minimize all windows


    Keep this macro in mind if you tend to browse Facebook at the office.


    6. Cycle between windows


    If you really want to test the glitz of Windows 7, give this combo a try. Its usefulness will be discussed later.


    7. Lock the computer


    Stepping away from the screen for a light lunch? Lock that puppy down with one swift stroke, especially if it’s April Fool’s Day.


    8. Launch the Task Manager


    Applications acting up on you? Need to check your system’s resources? Skip the clicking and get into the Task Manager with this shortcut.


    9.Take a screenshot of the active window only


    Trimming down screengrabs can be a pain, especially if you have a lot of desktop real estate. This shortcut lets you capture only the window in which you’re working.


    10. Rename a file


    Forgo that right-clicking nonsense and give this file-renaming trick a shot. It also works great if you’ve selected multiple files or folders.


    11. Zoom in and out


    This one works in a variety of applications, including browsers, word processors and Photoshop, among others.


    12. Return to default zoom


    When you’re ready to return to the normal view, strike this keyboard combo.


    13. In Browser: Open a new tab


    This one may be common, but it’s worth mentioning if it will save you from clicking among a mess of browser tabs.


    14. In Browser: Reopen closed tab


    This one can be a life-saver, especially if you accidentally close a webpage you’d been searching diligently for.


    15. In Browser: Focus cursor on URL/search field


    If you need to navigate the web quickly, this combo will get you moving in two keystrokes.


    Which time-saving macros do you use at your desk? Share them with the class in the comments below.

    Keyboard images courtesy of chromatix d-sign.

    Tips via Reddit.

    More About: business, keyboard shortcuts, List, Lists, productivity, shortcuts, tips, trending

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