Post on 28-Nov-2014
description
emergination@JUSTINKDAVIES
#SLEARND
11 PRINCIPLES STARTUPS SHOULD KNOW
FROM THE SMELL OF GOOD BUSINESS BLOG @ WWW.JUSTINDAVIES.COM.AU
DEDICATED TO BILL DARING
EMERGINATION.COM.AU
LINKEDIN.COM/IN/JUSTINKDAVIES
SLIDESHARE.COM/JUSTINKDAVIES
@JUSTINKDAVIESWednesday, 25 September 13
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
ANCIENT HISTORYCAN YOU REMEMBER
PRE CHROME
PRE FACEBOOK
PRE GOOGLE
PRE FIREFOX
WHERE EVERY WORD TOOK ON NEW MEANING BY ADDING “E” TO THE FRONT OF IT
WHEN INTERNET EXPLORER WAS THE BEST BROWSER ON THE PLANET?
WHEN EMAIL OUTSIDE OF THE ENTERPRISE WAS THE NEW FAD?
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
MY BACKGROUND
DEGREE IN MARKETING, ENTERPRISE WORKSHOP, GAICD
ADVERTISING INDUSTRY FOR 12 YEARS (BANKWEST, ANZ, TOWN AND COUNTRY, RACWA, BUNNINGS TREEFARMS, JAMES HARDIE, PLUS GOVT)
STARTED E-BUSINESS CONSULTANCY KMPINTERNET.COM 4 WEEKS PRIOR TO TECH WRECK - MAJOR TURNING POINT, AND SETUP E2B (STARTUPS EVENT) 4 WEEKS AFTER OPENING THE DOORS
THE BUSINESS LASTED A PRETTY INTENSE 18 MONTHS - AND IS THE SUBJECT OF THIS STORY
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
MORE RECENTLYRAN A SOFTWARE DEVELOPMENT BUSINESS FOR 7 YEARS (THE ONLY GUY WHO COULDN’T CODE…)
EMERGINATION FOUNDED IN 2008
STARTUPS INCLUDING GOPC, MARKIT, VIRTUAL OBSERVER AND NOW PREZENTT
PLUS IGNITION, SYDSTART, STARTUP WEEKEND, OZAPPS, CEBIT
FOCUS ON BRINGING BUSINESSES INTO THE DIGITAL AGE, AND ASSISTING TECH BUSINESSES GROW
WHY? WE NEED ROBUST BUSINESSES TO SUSTAIN OUR STANDARD OF LIVING - AND TECHNOLOGY PROVIDES THE COMPETITIVE EDGE
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
SHORTLY YOU WILL BECOME UNEMPLOYABLE
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
SHORTLY YOU WILL BECOME UNEMPLOYABLE
YOU WILL NEVER BE ABLE TO WORK FOR ANYONE ELSE AGAIN.
Wednesday, 25 September 13
Bill Daring & Justin Davies - Feb 2000Wednesday, 25 September 13
emergination@JUSTINKDAVIES
THE SMELL OF GOOD BUSINESS PRINCIPLES
SPINNING A PLATE
WE’LL TELL YOU AT 4PM
THE WORLD IS A WANKER
AND THE IMPLICATION OF THAT IS?
TALK TO ME IN NUMBERS
CONFRONTING YOUR DEMONS
HAPPINESS IS A TICKED LIST
MANAGEMENT BY THE F WORD
BRINGING THEM BACK IN FROM THE LEDGE
GETTING ADVICE
YOUR TIME IS YOUR LIFE
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
SPINNING A PLATEENTREPRENEURS DO WELL TO CONSIDER BUSINESS STARTUPS LIKE SPINNING PLATES - YOU CAN KEEP A CERTAIN AMOUNT GOING AT THE SAME TIME, AND YOU CAN’T LEAVE THEM TO FOR TOO LONG
PERTH AGENCY - PRINCIPAL WENT TO MARGARET RIVER, BUSINESS WENT DOWN THE TOILET
ANOTHER: BUSINESS GREW FROM 5 TO 50 AND THEN HEMORRHAGED BACK TO 30
YOU MUST HAVE A FIRST AMONGST EQUALS
DON’T GIVE EQUITY AWAY UNLESS YOU REALLY REALLY HAVE TO
LOTS OF SMART PEOPLE WILL SAY NO. THEY MAY BE WRONG
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
E2B
entrepreneurs2businessthe plug-in to the new e-conomy
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
“WE’LL TELL YOU AT 4PM”CROWD SOURCING IN THE YEAR 2000
POSTING QUESTIONS ON 100 NEWSGROUPS AND USING SOFTWARE TO ANALYSE THE ANSWERS
CREATE A SELF DIRECTED, SELF EDUCATED MINDSET - ALIGNED TO A COMMON GOAL => PEOPLE AND BUSINESS ALIGNMENT = MASSIVE PERFORMANCE
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
PEOPLE RULES
NO ASSISTANTS
PAY IS MEASURED AGAINST PERFORMANCE
BONUS ALL STAFF ON GROUP PERFORMANCE
HAVE REGULAR TEAM MEETINGS
PROMOTE SELF HELP AND SURVIVAL TACTICS
DON’T HIDE THE BAD NEWS (OR THE GOOD NEWS) FROM STAFF
DO NOT TOLERATE SYSTEM ABUSE OR BULLSHIT FROM STAFF - GET MARRIED SLOWLY AND DIVORCED QUICKLY (ALSO SEE F WORD MANAGEMENT)
USE CONTRACT STAFF WHEREVER POSSIBLE (NO RISK, NO POLITICS, PAY ON PERFORMANCE, NO TAXES, NO HASSLE)
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
THE WORLD’S A WANKERTHE FURTHER UP YOU GO, THE LESS BULLSHIT YOU’LL FIND
MID LEVEL (EGO: WE DON’T NEED YOU) VS PARTNER (CLIENT FOCUSSED: WE NEED YOU TO HELP US HIT THE GOAL)
JAN’RY, FEB’RY - IT’S GONNA BE GOOOOOD
EVERYONE SAYS THEY CAN DO IT RIGHT UP UNTIL THEY CAN’T DO IT
CULTURAL CRINGE: AUSTRALIA BEHAVES NOT AS ONE COUNTRY BUT A COLLECTION OF CITIES THAT HATE EACH OTHER
YOU MUST PUNCH WAY ABOVE YOUR WEIGHT
YOU COMPETITORS ARE NOT THAT BRIGHT, AND ARE TYPICALLY BURIED IN THEIR OWN CORPORATE BULLSHIT - IT BECOMES SURPRISINGLY EASY FOR THOSE WANTING TO BE GREAT TO COMPETE
BE CONFIDENT - “I WAS WRONG ONCE…”
Wednesday, 25 September 13
emerginationJUDGING IS EASY, DOING IS HARD
Wednesday, 25 September 13
emergination
TOUGH CROWD!!!
Wednesday, 25 September 13
emergination
CEBIT TECHRAMP 7 PITCHES, 7 MINUTES
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
AND THE IMPLICATION OF THAT IS?
MAJOR #FLEARN
11 PRESENTATIONS IN ONE DAY WILL NOT LEAD TO A SINGLE SALEIF YOU DON’T LISTEN FOR CLIENT PROBLEMS
AVOID MY MISTAKE:
BUY, READ AND STUDY “SPIN SELLING FIELDBOOK” AND “MAJOR ACCOUNT SALES” BY RACKHAM
LEARN TO MANUFACTURE MONEY
THE LEADER SHOULD SPEND AROUND 70% OF THEIR TIME SELLING / PITCHING
BUILD A GREAT NETWORK
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
TALK TO ME IN NUMBERS
YOU MUST BE ABLE TO EXPLAIN PLANS SIMPLY “I NEED A NUMBER TO PUT IN THIS BOX, WHAT IS IT?”
THE BUSINESS CASES I LIKE USE PLAIN TEXT DESCRIPTIONS WITH NUMBERS AS ASSUMPTIONS, WHICH THEN BUILD CASHFLOWS
EG: THERE ARE 1000 BUSINESSES IN WA. 2.5% WILL BUY IN YEAR 1, 5% IN YEAR 2
IF $BUSINESS_EXISTS =1, THEN MEASURE $CASHFLOW, REPEAT
STARTUPS= CUSTOMER BEHAVIOUR = ACQUISITION, RETENTION, SIGNUP METRICS
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
CONFRONT YOUR DEMONS
WHAT IF I RUN OUT OF CASH? WHAT IF THE MARKET WONT BUY? WHAT IF THERE IS A MARKET CRASH?
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
HAPPINESS IS A TICKED LIST
MONEY DOES NOT NEED TO BE THE MOTIVATOR
TAKE TIME TO UNDERSTAND YOUR PEOPLE AND WHAT THEY EXCEL AT - AND WHAT IS HARD WORK
NOTHING INFURIATES PEOPLE MORE THAN APPLYING EFFORT TO DISCOVER IT WASTED OR NOT VALUED
PAINT A VISION OF THE FUTURE, AND WHAT THEY WILL BECOME - A STRETCH THAT THEY PERHAPS CAN’T SEE, BUT YOU CAN
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
MANAGEMENT BY THE F WORD
THERE IS A BALANCE TO BE HAD - BUT NOTHING SHAKES PEOPLE OUT OF BEING ORDINARY LIKE BEING HELD TO A STANDARD OF EXCELLENCE BEYOND WHAT
THEY BELIEVE THEY ARE CAPABLE OF
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
BRINGING THEM BACK IN FROM THE EDGE
CONSULTANTS NEED TO BE KEPT ABOUT 105-110% UTILISED TO MAINTAIN HAPPINESS
WHEN IT GETS MUCH BEYOND THIS, YOU COULD FIND YOUR TEAM OR CERTAIN TEAM MEMBERS LINING UP TO THROW THEMSELVES OUT OF THE WINDOW
STARTUPS CAN BE MORE MANIC - WHICH MEANS THE INTENSITY OF MOOD IS MORE SIGNIFICANT
THE CAUSE: EXPECTATIONS THEY HAVE SET FOR THEMSELVES AND HURDLES THEY HAVEN’T BEEN ABLE TO JUMP OVER
THIS IS WHERE REMINDING THEM HOW FAR THEY HAVE GROWN IS IMPORTANT
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
GETTING ADVICE
YOU WILL ALWAYS GET CONFLICTING ADVICE
MANY WHO HAVE NEVER DONE A STARTUP ARE ATTRACTED TO THE SEXINESS OF IT - BUT DON’T PUT THEIR OWN MONEY ON THE LINE
REMEMBER HOW PEOPLE ARE REMUNERATED
HOURLY = NO INCENTIVE TO FINISH EARLY
FIXED PRICE = POSSIBLE HIGHER PROFIT FOR RISK
TRUST YOUR GUT, WHAT DOES IT SMELL LIKE TO YOU?
GETTING ADVICE
Wednesday, 25 September 13
emergination
DO BUSINESS WITH PEOPLETHAT YOU LIKE, TRUST AND RESPECT
WARREN BUFFET
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
YOUR TIME IS YOUR LIFEPERCEIVE WHAT TO SAY NO TO. SET BOUNDARIES
EXPRESSED DIFFERENTLY F..KING FRIGHTENING FOCUS
READ POWER OF LESS, 4 HOUR WORK WEEK, POWER OF FOCUS, THE TIME TRAP
PEOPLE WILL ASK FOR YOUR TIME FOR FREE - YOU MAY GIVE A DIFFERENT RESPONSE IF THEY ASKED YOU FOR $200
PAYING IT FORWARD IS ALSO A GOOD THING - WHAT IS THE RIGHT BALANCE?
IT IS YOUR MATES AND FRIENDSHIPS THAT REALLY COUNT, SO KEEP THINGS, PARTICULARLY EGOS, IN PERSPECTIVE
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
GET UNIVERSAL AND CONTEMPORARY SKILLS
SOME THINGS ARE TIMELESS
STRATEGY, TEAM BUILDING, LEADERSHIP, NETWORKS
WHEN YOU GET LOST ALONG THE WAY, READ DRUCKER, TSUN TSUI, AND BIOGRAPHIES - AND LEAN ON A MENTOR / ADVISORY BOARD
SOME THINGS ARE MORE TEMPORARY
TECHNICAL PLATFORMS, FLAVOUR OF THE MONTH IN TECH (CLOUD, MOBILE, BIG DATA)
Wednesday, 25 September 13
emergination
STORIES ARE REMEMBERED
Wednesday, 25 September 13
emergination@JUSTINKDAVIES
ONCE YOU’VE CRACKED IT YOU CAN DO ANYTHING….
SO GET ON WITH IT!
GOOD LUCK!
Wednesday, 25 September 13