From the category archives:

Entrepreneurship

Why We Are All Weird

by Daria Steigman on November 29, 2011

Marketing to Your Tribe, Seth Godin, We Are All WeirdWrite a book. Call it a manifesto. Give people a choice between Wonder Bread and funkiness. And then, when you get to the end, tell your readers that you’ve both wasted your time if you think you’ve got it figured out.

Seth Godin is a brilliant marketer.

We Are All Weird posits the end of mass–production, politics, retailing, education. Those still focused on mass are missing the point, says Godin:

“[The mass marketer] is busy looking for giant clumps instead of organizing to service and work with smaller tribes.”

And later he says:

“It is true that we want to be a part of a tribe. What’s not true is that it must be some uber tribe, the one and only mass tribe, the center of the curve. Our own little circle is in fact what we really want.”

While I might not use the word “weird” to describe myself (I prefer “independent”), what I like about We Are All Weird is that Godin taps into the fact that people want to be free to express themselves. Maybe it’s your choice of  jeans, or cars, or hotels, or coffee. Choice means we get to choose.

Changing means of production, of distribution, and of marketing, meanwhile, mean that you can have a smaller, more spread-out market for your product but still have a market.

Godin’s tribe is filled with marketers, but that doesn’t mean his book shouldn’t also resonate with entrepreneurs and other business owners. Because at the end of the day it’s really about understanding who your core audience (tribe) is. If you’re still trying to be everything to everyone, you’re probably going to lose your market to people with better product or service differentiation.

It’s not about niches. Maybe.

At the conclusion of his book, Godin writes:

“If you’ve made it to the end of this manifesto and come to the conclusion that you need to spend more time going after niche markets, I fear we have both failed.”

It’s not about niches if you think of a niche as a broad market segment. As in the Hispanic market, the gay market, or the veterans market. Because that’s just another way of mass marketing, albeit to a slightly more sliced-and-diced demographic.

But, let’s face it, tribes are niches–just organized and defined by the people themselves rather than imposed from “outside.” And that’s a difference well-worth both understanding and embracing.

We Are All Weird is a quick read, and it’s a good reminder that good marketing doesn’t have to be mass, boring, or normal.

Are you marketing to the weird?

Special thanks to Christina Pappas, who sent me her copy of We Are All Weird after I got intrigued by her book review.

Photo by peregrine blue (Flickr).

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The Secret to Ultimate Competitive Advantage

by Daria Steigman on November 15, 2011

I recently reviewed Beyond Performance. It’s an interesting book in which co-authors Scott Keller and Colin Price argue that:

“Performance-focused leaders invest heavily in those things that enable targets to be met quarter by quarter, year by year. What they tend to neglect, however, are investments in company health—investments in the organization that need to be made today in order to survive and thrive tomorrow.”

What I like about the book is the premise (short-term profits leads to short-term thinking) and that the authors take the reader through five steps designed to guide entrepreneurs and other business leaders to take a more macro look at their own organizations.

Beyond Performance is a good book for people who want to see lots of research and get into the weeds. It’s less useful, however, if you’re looking for a quick read with some simple takeaways.

You can read my complete review here.

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

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Why Groupon’s Founders Are On the Way Out

by Daria Steigman on November 8, 2011

business, entrepreneurship, Groupon, Independent Thinking

Groupon went public on Friday, and it was reported to be the largest IPO since Google. I don’t get it.

The founders took $900 million in cash from the company before it went public. Which suggests they think the company is overvalued (and they want their money while it’s there) or they don’t plan to stick around to find out. Either way, it’s not a vote of confidence.

There was a long, fascinating article in Business Insider last week that looks at the history of Groupon. It’s a tale of start-up woes and poor management, a revolving door for top talent, out-of-control sales commissions, and spurning an offer from Google reportedly out of fears that the deal would be rejected by the SEC on anti-trust grounds.

Here’s a sample:

[CEO Andrew Mason] can’t hang on to a COO. The SEC  is asking questions. Industry executives are calling him a ponzi schemer. Early employees are demanding six-figure pay for 9 to 5 hours. One even filed a lawsuit. Merchant customers are screaming. And Mason and his board, having helped themselves to $900 million of cash that could have gone to the company, are are now being blasted for incompetence and greed.

It’s a cautionary tale about rapid growth (and entrepreneurs reading their own press clips). Take a few minutes and dive in. Then I’d love to hear your takeaways.

Photo by Dan4th Nicholas (Flickr). 

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

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Wired for Innovation

by Daria Steigman on August 15, 2011

Innovation, Entrepreneurship, Y Combinator, Independent Thinking, Steigman CommunicationsI caught up on back issues of Wired this weekend. Good writing is underrated, and this magazine has some of the best. Plus, where else can you read about behavioral feedback loops, hackers, a kerfuffle over a hijacked copy of a video game, and Harry Potter in the same place?

There were also two terrific pieces about innovation and entrepreneurship. One is an homage to Y Combinator and its founder, Paul Graham. The energy of the participants jumps from the pages, as in this instructive description of how Graham and his team select candidates for their start-up bootcamp:

Graham tends not to pay too much attention to a candidate or team’s business plan—it’s likely to change during the course of the program anyway. Instead, he zeros in on the character and intelligence of the applicants. After one team’s presentation, Buchheit says that he would use the product. But Graham is skeptical. “Are these guys winners?” he asks. “It’s all about the guys.” The group is not accepted. [Bolded emphasis added by me.]

The other is a Clive Thompson essay on the roots of innovation. In The Breakthrough Myth, he cites researcher Bill Buxton who thinks:

paradigm-busting inventions are easy to see coming because they’re already lying there, close at hand… Truly billion-dollar breakthrough ideas have what Buxton calls surprising obviousness. They feel at once fresh and familiar.

Good food for thought.

Photo by Karl-Ludwig Poggemann (Flickr).

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What’s Your Entrepreneurial DNA?

by Daria Steigman on August 12, 2011

entrepreneurship, review, Entrepreneurial DNA, Independent Thinking, Steigman CommunicationsClones might be perfect, but people are intriguing. We’re intriguing because we’re not all the same. We don’t look alike. We don’t act in unison. And we have different strengths—and weaknesses.

There also isn’t “one” entrepreneur. And, in Entrepreneurial DNA, Joe Abraham posits that the person who is suited to try and build the next Google isn’t the same person who should be opening a consultancy.

Abraham identifies four types of entrepreneurs and provides an assessment tool to help you identify your entrepreneurial DNA profile (mine is Specialist-Builder). Much of the book is then devoted to a description of each DNA type followed by seven business optimization strategies for each. They’re all things you might want to consider doing based on your business strengths and weaknesses. There are also exercises for putting what you’ve learned into action.

Read about the four entrepreneurial DNAs and my complete book review here.

Photo by John Goode (Flickr).

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

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