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Posts Tagged IT

Do Kiwis have a certain je ne sais quoi with regard to Startup Weekends – or is that wishful thinking? Peter Kerr May 05

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Having been lucky enough to be around a couple of startup things in the past few weeks – I’ll take the opportunity to reflect.

The first occasion was a Skype interview at Wellington’s Creative HQ with George Smith, the founder of Glass Jar, an app that helps make group payments (such as in a flat) easier. Glass Jar was one of Lightning Lab’s accelerator graduates from last year.

They successfully pitched at LL’s Demo Day, and then relocated the USA.

George and his teammates spent three months doing the meet and greet with would-be investors in America, and then were accepted into Y Combinator, a Silicon Valley seed investment accelerator.

One of the interesting comments from George was that investors didn’t think much of the Glass Jar idea for the USA (flatmates over there have a completely different way of looking after shared bills).

But they did like the Kiwi team, and it was this that was backed at Y Combinator – which could be likened to being a Lightning Lab on steroids, where the participants are more worldly in a business-sense than some of the participants you see in New Zealand.

Nick Churchouse, the head of customer engagement at CreativeHQ made a passing comment that he quite often hears, and hears of this comment from USA investors. Mind you, given the courage it would take to relocate yourself to the States to pursue an unknown future, and given the can do attitude these coders, designers and entrepreneurs would display, it shouldn’t surprise us.

It is perhaps related to the apocryphal stories you sometimes hear of New Zealanders (often engineers), leading teams in overseas locations. For example, my brother leads the ground team of the International Space Station and helps look after oxygen, waste and water. (Like me, he’s a Southland farm boy by upbringing, with no engineering training as such, but with the ability to keep a team of brainiacs on task with a minimum of fuss).

Then again, all countries, all peoples are going to feel they’re special in this way.

However, as we continue the Startup Weekend business training exercises, our designers, developers and puller-togethers’ ability to work together could be viewed as a specific Kiwi trait, something that should be encouraged, a way to move beyond our sometimes too-self-effacing attitude.

Or perhaps that’s trying to put a gloss on something that can only happen by luck and circumstance.

What does anyone else think?


OS//OS = OS Peter Kerr Apr 13

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The OS//OS (Open Source//Open Society) conference has got itself a new definition – at least for the OS bit.

OVER SOLD!

What a great problem to have.

But maybe the organisers had a cunning plan up their sleeve, because they’ve collared some extra space at Wellington’s Michael Fowler Centre on Thursday and Friday this week (16/17 April) and there’s an extra 50 tickets for sale, over and above the original 300.

At $199 each, for the quality of people speaking about all things Open (except maybe golf) and people attending, that’s a fair bit of bang for buck.

Undoubtedly, the geeks, nerds, developers, designers, IT people and interested others like me will be keen to hear what GitHub, the world’s largest respository of open source code to co-host its first ever event outside America is a pretty big feather in Wellington’s tech cap.

Mind you, we’re pretty spoiled for smart digital events in the capital; so just how many tickets co-organisers Loomio and Chalkle thought they might be able to sell would’ve been anyone’s guess.

Well guess no longer.

There’s a lot of interest – book your tickets pretty damn quickly (shortcut here) if you want to be among the lucky last.

As I post this, half of those 50 extra tickets have already been sold


Open for thinking, open for participation, open for collaboration Peter Kerr Apr 02

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The name of the two day Wellington conference on Thursday and Friday 16/17 April says it all.

Open Source//Open Society (OS//OS).

As a digital immigrant who has, without sometimes knowing why, gone down he android path for my devices, I’m inherently drawn to the open source philosophy.

In a sense, at a time when public participation in democracy is lessening, it is events such as this that continue to hold the flame for non-secrecy and more sharing in society.

It is the antidote to businesses that want us to purchase their own proprietary products – locking us in, holding us to metaphoric ransom.

And given that bits and bytes represent today’s key infrastructure, being open rather than closed around how computing’s coding source is used, by all, can be considered the epitome of democracy.

So I’ll be attending the very reasonably priced ($199) event, which is the first time the world’s largest repository of open source code, Github, has co-hosted a conference outside the United States.

This in itself is a real feather in the Wellington tech community’s collective hat – and for Enspiral and its fellow travellers Loomio and Chalkle who have helped to organise it.

OS//OS describes itself as a gathering of bright minds and communities from open technology, open government, open business and open education.

You can see this in some of its speaker’s topics, such as:

  • Is the Internet a tool for liberation or control?
  • What happens if we work together? What does a commons based future look like?
  • My Dream. “What if…”

At the same time, one of the major benefits of any event such as this is the ability to share, participate and collaborate.

It is an opportunity for peoples’ ideas to mate and spawn new ideas. Given OS//OS’s openness, I expect the “we could do this” discussions to be very savvy.

Finally, a note on the cute name the organisers have called the afternoon tea break on the first day.

As a message maker at Punchline.biz, it appeals as an encapsulating idea and ideal for OS//OS.

What is it called (and check it out in the event timetable here)?

Diversi-Tea!


Bringing Biggs to the party an inspired move Peter Kerr Oct 29

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The appointment of Peter Biggs as inaugural chairman of the new Wellington Regional Economic Development Agency, is an inspired bargain.

I briefly dealt with ‘Biggsy’ as he is commonly known, in a former life.

My observation is that he’s great at doing deals and, even more importantly, making things happen.

That, in Wellington’s case as all and sundry circle but never get any traction around the idea that ‘we need to do something’, is why he will be great in this position.

As a colleague commented once, the job of a chairman is to get down and dirty and be fighting in the trenches.

Arguably, one of Biggs’ main attributes is this figurative hand-t0-hand combat skills that he possesses.

The former Wellingtonian of the Year (2003) is extremely well connected and networked at all levels across government and industry.

One of his mottos (according to one of his former colleagues), once a decision has been made is to “let’s pile into this guys”.

This is exactly what our city and wider province needs – essentially permission to execute something, and a bit of a blow-torch up everyones’ collective rears to make it happen.

As a motivator, a string-pullerer, loosener of wallets and most importantly of all, an enthusiast for a good idea that needs backing, having Peter Biggs onboard is fantastic.

So, welcome back from eight years in Melbourne Peter.

There’s plenty of things we could be doing here, plenty of ideas, some of them potentially big.

We look forward to you helping to kick them off in the new agency.

Collectively (adding to the WREDA’s four C’s – cohesion, confidence, conversion and communication) there’s a region that’s really behind you.

Note: WREDA’s so new, I couldn’t find an URL that directly relates to it. The closest is here.

Note: Feel free to also check out Punchline – Messages that Matter, my new business, based on a Secret SAUCE


Shanahan on a mission to destroy the notion of plucky NZ punching above its weight Peter Kerr Oct 24

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You have to give the effusive and self-effacing Greg Shanahan his due.

He kicked off the TIN 100 report in 2004, and now in its tenth year of production it reflects the healthy growth in New Zealand’s ICT, high-tech manufacturing and biotech sectors.

As Shanahan told a Wellington audience at MoBIE‘s new headquarters in Stout St, the combined revenue of these strongly value adding businesses is over $8.3 billion, with $6.1 billion of that from exports.

That’s more than our forestry industry, and provides pretty well-paying jobs for over 35,000 people.

And, as is fitting for a decade anniversary, Shanahan reflected on the growth in the TIN sector, the changes he’s observed and, more importantly, what he’d like to see in New Zealand’s attitude to our successful businesses.

“Part of the goal of the TIN 100 is to help us move past the idea of plucky New Zealand punching above its weight,” he says.

“That’s rubbish as an idea, a type of apology.”

“It’s a bit like saying, that Greg Shanahan, he’s not as bad as you thought.”

Greg Shanahan, TIN100, 22 Oct 2014

TIN 100 founder Greg Shanahan (“not as bad as you thought” [but see story for its context]}

A punching above your weight connotation is also rubbish since global competition demands that a company be a leader in its field. To maintain leadership, TIN 100 and TIN 100+ companies have been increasing R&D and sales and marketing effort as a proportion of their total revenue.

“By doing that, these companies are able to be price makers instead of price takers,” he says.

The summary of this year’s TIN 100 findings are:

  1. ICT growth remains strong
  2.  Recovery of the high-tech manufacturing sector
  3. Healthcare growth is strong
  4. The USA recovery continues

Shanahan says he continues to be bullish about the sector mainly because he feels New Zealand is the right size:

  • We’re small enough to be quick and large enough to be dangerous
  • We’re able to do things more quickly, more efficiently
  • Because we have poorer economies of scale [compared to other countries], we have to do things more efficiently

So, hats off to Shanahan and his team.

Without his sterling efforts we’d have no profile, no analysis and certainly very little celebration of these smart sectors.

(Note: if you’ve got this far, you also might like to check out my new site Punchline – messages that matter)


Of course nobody notices – there’s no photo opportunity! Peter Kerr Oct 07

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Naturally it has escaped the attention of mainstream media…

But, the fact is that two Kiwi IT companies are still in, and contributing to, the world’s largest IT project – the Square Kilometre Array (SKA) radio telescope. (See a press release here).

Thousands of radio telescopes to be built in Southern Africa and Australia between 2018 and 2024 will monitor and survey space, producing vast amounts of data.

It will require real-time analysis of 120 terabytes per second – the equivalent of streaming one million high definition movies at once.

This is a massive Big Data project, and will require new developments in both hardware and software.

A team led by Open Parallel including Catalyst IT engineers has devised and delivered the initial version of the Software Development Plan for how participants in the project will develop software and/or firmware to achieve design goals established for the SKA.

Now, Open Parallel’s director, Oamaru-based (yes, you’ve read that correctly) Nicolas Erdody has also been the inspiration and driver behind three Multicore World conferences (now in its fourth consecutive edition – Feb 2015, Wellington). These assemblies of global IT heavyweights are looking how to take advantage of massive computing power available through multicore computers (where there’s many many processors on one chip).

So far no one has effectively cracked how to write the parallel programs (coding) that takes advantage of this power.

But, by being part of the SKA project, Open Parallel and Catalyst have positioned themselves to both learn, along with others, and ride the inevitable wave of parallel programming, big data, cloud and green computing, and many more state-of-the-art technologies.

So what?

Well, if it comes to pass, there will be a huge opportunity for New Zealand to be at the forefront of what will be a whole new basket of knowledge and technologies around multicore and programming for them.

The opportunities for our IT sector(s) to be ride this parallel computing wave will be immense – way bigger than the movie industry, with much more potential to branch into different fields.

Naturally, Erdody and Catalyst IT managing director Don Christie aren’t part of SKA solely as their contribution to knowledge about our universe.

But they are taking a longterm view, positioning their own companies to be part of the knowledge creation for the project, and clearly identifying themselves as clever and competent operators in an ever-expanding field.

It is doubtful that either of them have any clear idea of where their involvement will lead.

However, their leadership and vision will in the near future be of immense benefit to our country. After all, what computer programmer wouldn’t want to live in New Zealand to be part of both SKA and ongoing developments in multicore and parallel programming.

Not that the government or media would have a clue.

It’s not something that has a photo opportunity.

It also requires the ability to think.


Local, thinks global and quickly gets asked if it is for sale Peter Kerr Jul 02

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Many Kiwis struggle to appreciate the size of the global internet market, and how to tap into it says John-Daniel Trask.

The co-founder of Wellington-based Mindscape (“We build fantastic tools for developers”) recently spoke at the NZ Entrepreneur Club.

As an aside, the messages/language on Mindscape’s web pages are a model of simplicity and appealing description. Check out the company’s ‘About’ page to get a flavour of how others should do it.

Business, and more particularly digitally-oriented business has been in John-Daniel’s blood since high school in Palmerston North, including selling a program on a disk that masked other schoolboy’s internet search history on their family’s computer!

Torn between doing a business degree or computer science degree at Massey University, J-D opted for a relatively open-ended computer course – and shoved in as business papers as he could.

He (easily) got a job at IT solutions company Intergen, and from day one was quizzing its bosses about revenues, sales, margins and the nuts and bolts of how it operated.

Not surprisingly he quickly rose through the company; and while he was doing it bought as many shares off other employees as he could.

Soon he was one of the largest non-founding shareholders, and the option of buying the fourth largest shareholder’s portion came up. This would’ve made him the largest non-founding shareholder of Intergen by a long margin. The deal fell through however.

J-D then quietly, and completing the deals all at once, sold his shares back to other employees within Intergen, pocketing a tidy return at the same time.

In 2007, along with Jeremy Boyd, Mindscape was brought into life, creating software development tools as its products, concentrating on Microsoft’s .NET environment.

Mindscape’s main product these days is ‘Raygun’, error reporting software which was launched in 2013.

This software has had exceptional growth – so much so that Mindscape received a number of inquiries whether it was up for purchase.

Instead, and boasting real growth and revenue, Mindscape recently went to the market and raised capital.

J-D and Jeremy Boyd still own 87% of the company – but given that Mindscape’s doubled revenues since April, investors are probably pretty happy.

He says that lessons learned along the way is not to become too scattergunned in its projects or offers.

“Put your energy into one thing,” he says.

He sees a new wave of potential in virtual reality, arguing that the present fixation on the visual component ignores the touch, sound and audio.

In the meantime Mindscape’s focused on its revenues, as this keeps its future options wide open.

“We could carry out an IPO, we could be attractive as an acquistion, or we could continue to make a lot of money,” he says.

This Entrepreneur Club talk was a great example of a well-executed business, firing on all cylinders.

Without doubt, the winner of the Hi-Tech Young Achiever Award in 2009 will do something else clever again – probably sooner rather than later.

Watch this space.

 


A buried treat in WordPress’s Terms of Service Peter Kerr Jun 26

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It’s in keeping with the spirit of WordPress that its Terms of Service are simple, freely available to be repurposed by others, and, the tiniest bit quirky.

WordPress co-founder, and part owner of its tech-tools parent Automattic, Matt Mullenweg, pointed out there’s a ‘here’s a treat’ buried in the ToS.

Speaking recently in Wellington, he reckons that so few people actually read these legal bits, putting in a hyperlink is a nice surprise for those who bother. Go have a look yourself.

The San Francisco based open source enthusiast was on a whistlestop tour around Japan, Indonesia, Australia and NZ, spreading the word and looking to add to the globally-spread development team.

The scarily young Matt seems pretty savvy and modest all at once. His photo and bio is buried, alphabetically on the Automattic page (though he did point out the pun on his own name in the parent brand).

Part of the savviness comes from a 1970’s computer science graduate dad who encouraged his then six year son to play with the home computer’s code in the late 1980s – with the proviso he fixed what he broke!

A fair bit of looking under the hood later in 2004, Matt was looking around for, and failing to find, simple blogging software or platforms.

So, along with Mike Little he built the open source, free, WordPress. They quickly realising they couldn’t do it alone, and encouraged others to come into development team.

As well, they set up Auttomatic.

He describes Jetpack as the site’s tool with the most promise. This allows plugins that are available on WordPress.com to be available on self-hosted WordPress installs, powered by the cloud.

More than 130 Wellingtonians attended the Shed 6 presentation, including a colleague Harry.

Harry can’t code, but he too was impressed with the open nature of what Matt’s helping create in the net, and dispersing it around the world.

With only 22% of the internet sites, there’s 78% to go says Matt.

His lofty goal is to democratise publishing.

He might just do it Harry reckons.

 P.S. – In case you can’t find the tasty treat, check out paragraph 16


Lightning Lab II grows up – will its offspring make it to adolescence? Peter Kerr Jun 03

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Anyone that’s been around young children will appreciate there’s a heck of a difference between a one year old and a two year old.

A similar comparison is valid with Lightning Lab II, which last week had nine of its 10 starters from three months ago pitch to about 250 would-be investors, and a number of others who mostly filled Te Papa’s main theatre last Wednesday.

As LL itself says, it is modeling the way it works off TechStars and other USA originated accelerator initiatives.

But there’s a New Zealandness to how it is done.

So, as well as the added degree of presentation polish, one of the more notable aspects was, apart from three business asking for just under $500k each, the other six businesses were relatively low in how much money they were asking for.

This partly reflects there’s still more market validation and proof required, and also the New Zealand environment.

Often overseas startup accelerator businesses have already obtained some money (from friends, family and fools) before they begin the three month intensive mentoring and ‘is there a business here’ questioning process.

New Zealand accelerator startups at this LL tend to be less mature, and the degree of realism in the money pitch in bringing new investors onboard was one of the features this time round.

Naturally, since many of the pitches are as much about selling the sizzle as the sausage, there is a touch of scepticism required in the growth projections put forward.

But, without any due diligence, all the pitches sounded like they could – with the right combination of expertise, clear direction and luck – gear themselves up to grow.

And, rather than attempting to break down each businesses’ prospects myself, I’ll repeat Nicolai Thomson’s speculation. Nicolai, (Twitter handle, @nicolaithomson) is the founder of Lendyour.co.nz. Here are some of his, and some of his colleagues’ thoughts about the business propositions put forward at LL Demo Day.

He raises some interesting points, that investors too will no doubt explore as they look under the hood of these potential part-purchases.

In Nicolai’s words:

I don’t rate Twingl’s business model though I would totally use their product. They need to look at alternative monetisation and in the last 18 months I’ve heard their CEO twice and don’t rate his ability to spot a future trend, change and win fast enough when established companies jump on their un-patented mapping.

MishGuru, too reliant on Snapchat being a fad today, and limited audience using it. Snapchat will pass and be dead in 3 years. Their subscription plan is also fundamentally wrong as their target market is enterprise paying $10 a month. Every company will start on that level with little incentive to move to more expensive plans which would assure MishGuru can pay their bills.

Floc has a great concept but little future. Using Telco data is not going to be given to a brand new team with no reputation, and would be revoked the moment a controversial CEO or diplomat was tracked leaving their building after someone eyeballed then and identified their dot after hacking in to Floc systems. Never-mind the fact restaurants have legal obligations when it comes to employment and cancelling shifts before or on the day won’t fly for long in the name of saving the owner some dollars. Staff would likely leave and cause unnecessary headaches.

Coach Seek will be a safe bet, no spectacular exit so ideal for the risk averse of those investing. I like the product though maybe a touch too expensive starting at $49USD a month.

Cloud Cannon were my top pick, followed by CommonLedger.

CommonLedger will have a competition issue and will probably be best to position themselves to be bought out quickly. They will be overtaken by deeper pockets if their concept starts to take off. Their CEO gave the impression they are going to build a global giant and may miss a good return which some investors could be spooked by.

Cloud Cannon though probably have the closest disruptive product but I spoke to a designer friend last night and there are major concerns with SEO ability if you get quite messy code that it would deliver the site through. There is no comparison to original source code being indexed. This service cuts out the core web developers who provide the framework/CMS which is why WordPress has been so popular. If they can get SEO to be great, then it’s a winner. Again, won’t take long for others with resources to reverse engineer. Great business model though.

What I didn’t see from any of the teams though is a disruptive produce that carves out a niche which cannot simply be reversed engineered, or copied by teams with deeper pockets, more experience and crucially an existing customer base to test, and get faster feedback from. There were a couple of self-proclaimed engineers and maths geeks, however no one stated their competitive advantage was an algorithm that is one of the few things not easily replicated.

 

 

 


To business plan or startup plan? That is the question Peter Kerr May 20

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Just at the time I have no clue what to write, up turns this blog, It’s well worth repeating.

I’ve written about Nicolai Thomson and LendYour, a startup ” to be the place people come to rent”.

Here’s his very well written observations on the difference between a business plan and a startup plan…with the word rhetoric in the opening sentence.

By Nicolai Thomson, CEO, LendYour.com

Follow him on Twitter @nicolaithomson

Believe it or not, there is a big difference between a Business Plan and a Start Up Plan. The following stories come from experience and not rigid theory. Stories help illustrate points, and provide context by somehow firmly embedding knowledge in the real world, unlike rhetoric which can lack grounding.

I was sixteen and still at school when I started my first business in the UK. I designed jewellery and had it made and imported from Hong Kong, along with Indian and Brazilian style costume jewellery. This was back in 1999 so the few pieces I actually sold were at car boot fairs and markets. It was fun, but not a lot came of this business other than my sister getting a huge box of stock once I was through with it all. But still I collected my lessons and learnings.

Four years later, at age twenty, I started Executive Hospitality which later became taxiclub.co.uk. We created a basic website that could give you real-time taxi quotes driven by owner-drivers all around the UK. We also offered, minivans and executive cars in addition to normal saloon cars. We basically did half of what Uber does today, except back in 2003 so we were ahead of the game. We sold the company in November 2005 for an acceptable figure and it still operates today. I took off and travelled around the world for three months before deciding to start over in bonny New Zealand.

Although both experience were helpful and I learnt a lot, my fundamental mistake was having no Business Plan. Without well-thought-out visions and strategies the businesses floundered. We had no problems working out our short-term tactics, which got us short-term gain, but we had nothing to help us attain longer-term goals or even just a steady footing.

Too many people out there assume that a Business Plan is the first thing you should do. Don’t get me wrong, there is a place for a Business Plan, and it must be comprehensive, but if you are either thinking about, or have got beyond that to starting a business, then you need to start with a Start Up Plan. A Start Up Plan will give you time to think about the business without being bogged down in trying to work out financials or marketing strategies when you should be thinking about your vision and initial strategy.

How do you proceed with a Start Up Plan and what are the benefits?

First thing you need to think about is your vision, which should not fundamentally change unless there is a complete change in direction.

My latest venture, LendYour, started out as a simple marketplace website wanting to list holiday homes, motorhomes and boats, but that idea soon crystallised and we decided we wanted to be an international network providing mobile-first search, pricing, booking and review services for cars, vans, trucks and motorhomes — so, anything that drives on a road. Our vision, however, barely changed and has always remained “To be the place people come to rent”. Rock solid.

Do you have a grand vision for your business yet? If so, be sure to check your vision is not the same as what your product is meant to do. Your vision is what your legacy will say about you and your business. Richard Branson’s vision for Virgin is to ‘Improve society through the businesses we operate’.

Some may call this idealistic, but it reminds everyone that we’re here to enhance other people’s lives. In other words don’t be selfish, help others first. Imagine if every business in the world was there to enhance other people’s lives, and their actions were held accountable by boards and shareholders. This world would look very different!

Next is your strategy that is produced by thinking a lot about your goals and objectives. It’s OK and expected that these change often so don’t feel you are a dreamer that never does anything because strategy is the hardest, and takes the longest. It’s also what your product is. You should refer to your business idea as the benefit to your customer of using your product — don’t go around saying you are building ABC for the XYZ industry. Sell the benefits, not features because they are the things that a customer can relate to.

A company I have really enjoyed watching grow over the last six months is Groove. Their first description of the business focused on what they do, which quite rightly is “SaaS & eCommerce Customer Support”. It was bringing thousands of visitors to the site but did not get many sign-ups. Why? “… it doesn’t give me a single reason to do business with you” was the feedback.

Groove’s team then spoke with customers, asked their advice, and why they used Groove — a journey that could’ve happened at the very beginning.

The outcome and new message was “Everything you need to deliver awesome, personal support to every customer”. Conversions nearly doubled.

Perhaps building in Groove’s awesome customer support in to our software would be even more beneficial to my customers?

Think about your tactics last, as they could change daily or even hourly. Don’t be tempted to think about tactics until you have your strategy nailed. Tactics are ideas that turn your strategy into a business, which then absolutely requires a Business Plan, funding, sleepless nights and little social life.

I decided to apply the above Groove example to LendYour by describing our benefits to target customers and asking them, “If this product existed, would it be important enough that you would make it one of the top priorities for you or your company this year?”

The first client feedback shifted our strategy slightly, and after accepting and proposing that change he promptly said yes and committed to paying $25 a month for the basic plan. A sale! Talk about a confidence boost.

It’s only at this point that you need to think about detailed financial forecasts, sales strategies and marketing plans with your team.

Must haves of a Start Up Plan

Your Start Up Plan should be no more than 1 page long, and answer the following:

  1. What is the vision for your business? A good question to ask yourself is what’s the purpose of your business even existing. Be honest.

  2. Set your goals and objectives. Goals are not tangible things you can easily measure, whereas objectives are. Goals are also broad; objectives are narrow. This is how your strategies comes in to being, and are the two sentences on your Start Up Plan that you need to keep updating whenever your ideas change. Your objectives will reveal clues as to your competitive advantages too.

  3. Your team. Do a SWOT analysis on them. If you do not know what a SWOT analysis is find out. At this stage your answers to each can just be one or two words. Pretend you are in a large company, then ask yourself if you would employ the team you are heading up to launch this internal project you are writing a business case for. Again, answer honestly, and write down the concerns you would have because in a few months time you may have overcome those issues and its useful to have them written down to remind yourself of the progress you are making.

  4. Identify your three core markets or industries you are going to be involved in. This is where you go looking for your target customers.

  5. Identify what you can charge money for. Allow the answer to this question to influence your goals and objectives heavily. Neither of these questions has to be detailed at all, they are there for you to reflect on as your ideas change the strategy.

Once you have written this down, print it out and stick it on your wall somewhere you will see often. You are now ready to formulate strategies. Write them all down somewhere electronic and cloud-based so you can edit and add to them often. I use Evernote that has been absolutely amazing for this exercise. Every now and then I scroll down through my various notes about objectives and goals, growth, revenue, markets, or quotes I realise how far the business and my thinking have come.

Once you have those fundamentals it’s time to start refining that elevator pitch but don’t be rushed in to working it out until you have given due time to thinking about your strategy. If you rush, you may make mistakes and the probability of you going bust will be much higher than they need to be.

Don’t be afraid of spending an extra 2-3 months thinking and talking about your strategy to target customers. You may have noticed I have not talked about friends and family during the thinking period. Proceed with caution, because your ideas are going to change so often that you risk others close to you doubting your ideas and ability, which has serious knock-on effects to your confidence. Talk to the people who would be paying customers before friends and family.

Next, if you are up to it, write about your experience somewhere because it will be extremely useful to many people out there struggling to get to Start Up ‘first base’. Good luck!

Follow Nicolai on Twitter @nicolaithomson


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