Showing posts with label launch. Show all posts
Showing posts with label launch. Show all posts

Sunday, May 4, 2014

Don't Hire Anybody!

   If you have a new business, it's pretty common to start thinking about hiring someone to help with the seemingly endless tasks you are presented with. Don't. Do NOT do it. 

   Eventually, you will have to hire people, but try to put it off as long as possible. While you might think there is an element of sadism involved on my part there are reasons...

   First, you need to be able to present someone with a clearly delineated job. That's very hard to do in the beginning. In a start-up, many days end in a blur. But patterns eventually emerge in your work wherein you could explain a list of items to another person, you have the beginning of a job for someone. It takes some time.

   Second, by doing things yourself in the beginning you gain a massive amount of knowledge. That helps in the operation of any business and it also gives you valuable empathy for the person you'll eventually have doing those tasks for the business.

   Third, hiring is: easy in, hard out. Searching for your first "employee" is kind of exhilarating. You meet lot's of eager people ready to make a difference. Then you pick someone. But sometimes you blow it. You pick the wrong person. If hiring is fun, firing is the opposite. Firing people is a major buzz killer. The longer you wait, the better delineated the job will be, and the greater the chance for success in hiring.

   Fourth, hiring people costs money. Unless you have been massively funded or were born into big money, you'll find cash has a quick evaporation rate. Employees are helpful, but they are also expensive. Be sure you are absolutely clear on how you're going to specifically benefit from having this person. Have enough clarity to explain the hiring to an investor, even if you have none. 

   With some luck, you'll grow and clear these hurdles. You'll hire lot's and lot's of people and live happily ever after. But applying this logic to each position will keep you lean and focused. That's a very strong quality for any business to possess.
   

Monday, April 7, 2014

Innovation requires communication. The case of the reverse twisting buzznut.

   When I was in my third year of university I decided to launch a business wherein students would submit a resume to my database (pre-Internet) and I would in turn market their resumes to companies based on their selection criteria. Not a wildly different model from Monster.com or other career sites today.

   There was just one problem. In 1985, there weren't a whole lot of people thinking about databases, there was no Monster.com to compare myself to, and in general few people understood what I was talking about. Thus the innovation dilemma. Great to have a new idea, but people don't generally buy things that they don't understand.

   Fast forward a year, I was out of money and patience (not that either were especially abundant previously) and simply folded up my tent and went on to other things. But the lesson of those days did remain. When you invent or present the world with a new idea, you better be able to very simply explain the concept, because people aren't going to hang around for a class on the subject. 

   The easiest explanations are those that allow the audience to reference an existing idea. If, for instance, I mentioned that I had an amazing new type of donut, you'd have an image and usefulness in your mind already. It might not be exactly what I was doing, but it would likely be close. But if I said I had a reverse twisting buzznut to help with your laundry, you'd be understandably in need of further information.

   The reverse twisting buzznut might be awesome and filled with benefits. But until the potential buyers understand the product sufficiently to become "actual" buyers your cash is going out the window. The idea will only make it when someone emerges with the resources and skills to get the message out effectively. 

  If you happen to be an innovator, you must also be a communicator, or have access to one. In most instances it would be best if it is a different person. The innovator/inventor inherently understands the product/service, and that's not usually a great starting point for explaining it to others. 

  Without communication, innovation will languish in isolation. A lonely reverse twisting buzznut sitting dusty on the shelf.