I’ve always wanted to have the kind of blog that was 100% useful to my readers, but now I realize that just isn’t… well… the way real life works. Living in a world of 140 character tweets and FB status updates, I think it’s time I brought the blog into 2010 and just write what’s on my mind.

That being said, I am not going to make a commitment to post at any regular intervals since I’m pretty busy these days (what’s new), but if I come across a spark of inspiration, I will strike up a post and share it with you.

Hopefully I get a few of you coming back to interact / comment on a regular basis as I’d prefer to not talk to myself, I do enough of that already. :p

BTW, any suggestions on topics you want to discuss, or know more about, please let me know.

Till next time,

Jay

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Been really busy putting out fires lately and put the blog on the back burner. Sorry!  

Will be back to posting twice a week this week.

 

 

 

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Let’s face it. Who the hell doesn’t know Billy Mays??

Unless you’ve been living under a rock for the past 10 years, you probably know his energetic, trademark openings by heart: “Hey, Billy Mays here for… OxyClean… Mighty Putty… Awesome Auger…”

Billy Mays has single-handedly sold millions (maybe even approaching billions?) in products to insomniacs with credit cards in hand. His loud, in-your-face demeanor grabs your attention, even if you aren’t even paying attention… It’s not a coincidence that every time you hear his voice, you have an almost “knee-jerk” reaction to see what the guy is pitching now!

The Ideal Character

The caracature of the “Billy Mays” character is spot-on. First of all, take the name “Billy”. I mean what other name invokes such a friendly, “down-home” image as the name Billy? Stack on top of that the rolled-up sleeves, fuzzy beard, and trademark voice you can here around the corner… and he almost reminds you of your Uncle Billy. I mean what better spokesman could you get for home-improvement-type products than Billy Mays? Plus, he has that striking resemblance to Al Borland from Tool Time which can’t hurt.

People Buy From People

So why am I making a big deal about good ‘ole Billy?

Well, it’s a prime example of the critical importance of having a spokesman or person associated with your company (not just brand).

See, the reality is that people buy from people. No matter what the good or service, you’re always buying from someone. What’s important is that the person possess perceived credibility, be likeable / like you, and/or be associated with a group you aspire to. Let’s look at some examples:

Toyota – The dealership salesperson (likable, credible)

Nike – Michael Jordan, Tiger Woods, etc. (credible, aspire to be a baller/golfer)

Amazon.com – “Katie G. from Ohio”, “Tom Z. from Idaho”, etc. (like you, credible)

Geico – The friendly gecko (likable)

Apple – The “Mac” guy (likable, aspire to be cool)

South Beach Diet – Dr. Arthur Agatston (credible, he’s a doctor right?)

Why This Is Critical

In general, we have a negative or ambivalent attitude toward institutions / companies / buearacracy. Why? Because institutions appear to be cold and inhuman by nature.

Just think of the way you think about the cable company. I bet you don’t feel warm and fuzzy inside. These guys don’t need to have any “human” face because they have a near monopoly (*although I should note that Comcast has made AMAZING strides repairing customer complaints via Twitter. Kudos to them).

Or how about the IRS. If I were the government, I would work on a serious PR campaign to associate a friendly face with that agency. I’d be willing to bet you that A LOT more people would pay their taxes if they felt accountable to someone real and tangible.

Look at the success the government had with using Uncle Sam as a recruitment tool. God, the guy is almost synonymous with patriotism and obligation to your country.

So Whose Your Billy Mays?

I seriously recommend that you take a moment to think about who your “Billy Mays” is. No matter the industry, B2B or B2C, online/offline, your company needs a face. If you have one already, that’s great!

If you don’t have one, you need to take some time to think about your customers needs, wants, desires, and how they buy. Armed with that information, you should be able to easily come up with a strategy to fit your business model.

Stay Focused,

J

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A lot of people dream of building the next Google (my favorite example), Apple, Facebook, or any other “revolutionary” company / product / service. All of the media and press surrounding these juggernauts reinforces this zeitgeist.

As a result, many entrepreneurs believe that the only way to create and build a success company is to create an entirely new product or service category. So they bang their heads against the wall trying to dream up the Hoverboard or space travel company.

Unfortunately, the reality is that these aforementioned examples, and probably 98% of HUGE business successes, aren’t revolutionary at all. In fact, they are all evolutionary.

If you think of any “revolutionary” product or service – Excite.com (search engine), Diamond Rio (MP3 player), SixDegrees.com (social network), Diners Club (credit card) – you find a common theme among all of them: they are a footnote in the history of the product they created. Let’s look at each one:

Search Engines – Dominated by Google

MP3 Players - Dominted by the iPod (Apple)

Social Networking - Dominated by Facebook (or MySpace depending on your opinion)

Credit Cards - Dominated by Visa and Mastercard (Diners Club was acquired by MC)

None of these market leaders created the category that they dominate. All that they did was identify a growing market and make the existing product incrementally better by identifying a critical flaw in the existing product. It’s pretty rare that you will find a market innovator that’s still dominating the market.

So, what’s the moral of the story for the beginning entrepreneur?

Stop focusing on trying to create some kind of “evolutionary” product or service. Don’t waste you time trying to dream up the next superstar. Plus, just imagine how many “evolutionary” products or services are total flops in the marketplace? Way too much risk for the bootstrapping entrepreneur.

Think incremental improvements. This is where the money is. Think about the products and services in your everyday life. What sucks about them? Is there a way to make it a little better? Why is it made this way? Can you create a better product? Cheaper? Faster? Better? Easier? This approach is much less risky because you already know the product or service sells. Now it’s just a matter of making it a little better. The iPod made music transfer easy.

Now get out there and put this into action.

J

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It’s always the same ‘ole story – “I work too much for what I get paid. I’d rather be working for myself. I’ve got a couple of business ideas I’ve been thinking abut.” (If you’re self-employed you’ll know what I’m talkin about)

99% of the time (God Bless ‘em) these people have an idea based around a hobby or passion that they have, or an idea “they just know” will be the next Google.

The Conversation

As an entrepreneur who has fallen on his face countless (maybe hundreds of) times, I always try to be polite and say something along the lines of:

“Cool, sounds like a marketable idea. Have you tested it out yet?”

Then I get the deer-in-the-headlights look and the conversation progresses as follows:

“Uh… No…. What do mean?” they’ll say.

“Do you have any customers or made any sales yet?”

“No man, it’s just an idea right now.”

“Ok, well, when you’ve got at least one customer or sale, get back to me. Would love to help.”

Usually they will walk away pissed, confused, or defeated. But they get over it.

The Harsh Reality

What most non-entrepreneurial people don’t “get” is that the entrepreneurship process is all about TESTING. You keep “testing” ideas until you hit on something that works.

People who’ve built successful businesses didn’t have one “magical” idea that just happened to work out. Usually they’ve gotten their nose bloody trying idea after idea, until they stumble upon the homerun, or in Google’s case, the grand slam.

Just like anything in life – investing, getting laid, getting a job - it’s a numbers game. Would you ever invest in only one stock? Would you only try to pick up one girl? Apply to one job?

You Can’t Fail If You Don’t Give Up

After you encounter and learn from your failures enough times, you WILL eventually stumble on a success It’s unrealistic to set goals like becoming the next Bill Gates, Larry Page, or <Insert-Your-Young-And-Super-Successful-And-Slightly-Lucky-Entrepreneur-Here>.

You can never fail if you don’t give up. That is the key to keep shooting until you hit your target and find the idea that works.

This is why former professional athletes, military personnel, and other highly-disciplined people go on to become wildly successful in the business world. They’ve been taught to persevere and never give up.

People say Tiger Woods was born with genetic advantages. That may be true but it’s just an excuse. He also works his ass off 10x HARDER than other golfer on tour. Look at what he did at the Open. Unbelievable.

Moral of The Story

Before you get too obsessed or caught up in an idea you have, test it out first. You can test most ideas without quitting your day job.

Oh yeah, if it’s an idea that you’d have to quit your day job to test out, or get venture funding just to setup the infrastructure, then scrap it for now and work on ideas that feasible to your current position in life. We all had to start “small” to learn how to manage “big”.

You’ve got plenty of time to chase the big fish.

-j

PS – In my next installment, I’ll talk about why you are more fortunate than you think and the mental game you have to master.

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