All videos can be seen at http://www.youtube.com/playlist?list=PLBAAC8C0430D64F4D
People head down a trajectory and they expect one outcome that may turn out not to actually happen (e.g. rockstar).
- Money
- Prestige
- Fame
- Legacy
- Freedom
Pick one or two and go for it. No matter what you choose someone will tell you you are doing it wrong. Don't work to avoid this, because it will always happen (remember steve jobs in the keynote). "Optimize your career" for one of the things above. Trump decided to put his name on things, which likely means he makes less than he could have; he makes less money for more legacy.
Freedom = Decide it Yourself. Others can do, you just decide.
Choose and optimize, it will be your compass. Know your goal.
Corporate Interest != the future. Admit we don't know, have an intelligent conversation. "No business plans survives first contact with the customer." The real world changes your expectations.
Cut through the chaos by doing one thing really well, no need to "revolutionize" the world.
- $35 setup fee
- $4 flat fee per cd sale = $22 million dollar sale of the company
"Revolution" describes you when you are successfully. Before you are successful, people see you as just someone who is "cooky". Think about the "American Revolution". Popular vote was against the whole idea of it.
Love != Romeo & Juliet
Revolution != War & Blood
Revolution == Uncommon Sense
Revolution == Simply serving people better
Revolution is when, before successful, you look at a situation that is obviously flawed and have a solution that no one is doing but makes more sense.
Polite interest in ideas is a fairly sure indicator that it's not a great path to pursue. When people react very positively and open up their interest (and wallets) you know you're getting somewhere (see the simplicity of the CD Baby business model).
"If people aren't LOVING what you're doing, STOP! Don't persist, don't push it. Let it go."
Of course you have other ideas, so move on and let it go. Don't keep pushing "that one song".
"We don't swing unless it's a clear home run"
-- Buffet
Anything less than "OMFG! Yes! I want to pay!", STOP. Write a new song.
Success comes from persistently improving and inventing, NOT persistently pushing what's not working.
Don't get caught up in describing and selling version "infinity". Version 0.1 is what you can do right now. This week. Today. No programming, nothing, but you can do it now. You can make incremental improvements.
Instead of spending two years building this huge thing, you can start talking to real people that need it (or not) and you can know early on whether they need it (or not).
CD Baby profitable in second month, made 100k in first year off of emailed forms, copy/paste to make mailing labels and charge cards.
If you're not embarrassed by your first version, you've launched too late. You need confidence to grow the business, but start somewhere concrete and SMALL.
"I've got this killer idea!"
Ideas, on their own, are just a multiplier. They are nothing without execution.
Idea x Execution = $ Value of an Idea
I don't want to hear the idea, I just want to see the execution.
- We answered the phone on the second ring
You should treat your customers like you treat your friends.
- Personalized Email Headers
From address on receipts like "CD Baby loves Sara receipts@cdbaby.com", people would forward to friends, super impressed by such a simple change.
- Changes need pizza
Order me a pizza for the extra work that is needed. Asking for pizza was humanizing the whole process. Many businesses try to de-humanize. Real people are on the other side of the phone/email.
- Customer comments sent to Musicians
- Special requests with an order
Guy asked for cinnamon gum and so they sent him one. Another guy asked him for Squid, so they gave him some.
Do things because you want to, not because it impresses the board.