by Daria Steigman on January 3, 2012
For 2012, I’ve decided that I don’t need to reinvent the wheel.
Last year, I picked out 3 little words–crayons, velcro, and abandon–to guide my business. The whole point was to keep me focused on moving forward, while giving myself permission to take risks again. And to have fun and be creative.
I found the right guiding principles.
Since “a continuous or connected whole” (aka, continuity) is an asset, I’m going to keep these words front and center for another year.
What are your guiding principles for 2012?
Photo by evoo73 (Flickr).
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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.
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by Daria Steigman on November 8, 2011
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).
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by Daria Steigman on October 14, 2011
In the age of The Google, you’re nowhere if you can’t be found. Especially by your prospects. As a result, pretty much every business has to be a publisher, and every company has to have something to say besides “BUY ME.” Content matters.
In Content Rules, co-authors Ann Handley and C.C. Chapman have written a bible for savvy entrepreneurs and everyone else who understands that good content is a competitive advantage. The point of great content, they say, is:
“to convert browsers into buyers and customers into regulars or (better yet) rabid fans, ambassadors, and advocates. You do that by deepening your relationship with them, over time, by repeatedly and consistently creating content they care about and want to share freely with their friends and colleagues, and by encouraging them to engage with you and to sign up for things you publish (like an e-mail newsletter or a webinar) or to download a white paper or an ebook.”
You can read the full book review here.
Photo by David Armano (Flickr).
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by Daria Steigman on August 12, 2011
Clones 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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