bwagy, the blog of Ben Young

If you’re a blogger it works by interviewing people & sharing the content on your blog.  You then grow your authority, networks & credibility.  Often then they will link to your blog & help you grow.

The other way is to integrate your website into lots of existing platforms (same metaphor) and let them promote your offering to their network.  I.e. integrating your project management software into Xero, or eCommerce plugins for PayPal etc.

Same frameworks just different scenarios.

Infamous VC Fred Wilson has this to say.

“The Easy Answers Usually Don’t Work….when things go wrong in startup companies, the VCs often reach for the easy answers”

Read the full post here.  Thanks for the nudge Fred!

It’s easy for someone to say you should be doing blogging, or tweeting or vlogging…

You can’t.

You see you ought to zoom in on what you’re good at.

If you’re not good at writing – don’t write.

If you’re not good in front of the camera – don’t do it.

No time for tweeting – don’t do it.

There is ZERO value in using a tool if you don’t do it well.  Let me repeat that – zero value.  If you’re in the space you need to own it.

It’s the same old business principle, 80/20 analysis of what you’re good at, then push that button and keep pressing it.  That’s the smartest form of leverage.

Think Long Term.

I like business people that think for the long term, there is more responsibility, focus on sustainability, mutual benefit, desire for meaningful business relationships.

It just makes sense.

Short term scares people, it’s also where impatient people can get swindled, not always the best option.

Just a thought, do you approach your customers with the view of a long relationship? How about your competitors? Would you say Microsoft and Apple do?…..

I saw a tweet from a fellow business owner a few months back, they had stopped having coffees and networking as they weren’t building any immediate business out of it……. hmmm

Bit stupid to stop networking if you ask me.  Why? Well…

My theory basically is, no matter what you do, every person you meet at some stage in the next 5 years will either have a need for your service or will hold a conversation with someone who needs your service.  So no meeting is wasted! (as long as you impress them enough).

Yes this is a long term view – but successful business is built over the long term.  So don’t fret that every meeting has to turn over dollars; build relationships, think for the long term and it will pay off.

Don’t stop networking because money doesn’t come in straight away, keep at it, it pays off.

You never know you may just get it.

I am the eldest of five kids, so in our household it was very much first in first served, if you wanted something you had to ask for it.

The analogy draws true for business, you are one of many, first in first served, if you don’t ask someone else will.

You’d be surprised at what happens just by asking, hey can I buy you a coffee? I have some neat ideas I’d like to run past you? or blatant I’d like your business what can I do to get it? Worst case you get a ‘no’.  Best case you get what you want.

So remember sometimes all you have to do is ask.

There is some huge stat that 7/10 successful entrepreneurs are university drop outs.

But the key is they WENT to university.

Some of the handy stuff I learned from university that kept me in good stead…

1) Actually Listening

As an entrepreneur I realised the real value of university, so unlike my colleagues I actually paid attention in class, which has stood me in good stead since university.  Case studies, lessons learned, models all very helpful.  The application of these has helped me learn / grow my business / avoid pitfalls my peers make in an outstanding manner.

2) Forcing you to do stuff that’s painful

In business often you want to shy away from anything that is painful (*cough tax returns).  However Uni teaches you to persevere through this by forcing you to do papers and assignments you don’t like.  (Note: this is hugely valuable).

3) The people you meet

The absolute biggest value is the people I met and the relationships I forged.  University has introduced me to my best friends and extensive networks of interesting people.

4) Time to goof around

Sure starting a business at 18 is cool, but it is nice to goof around for a bit, realise the world isn’t on your shoulders, gives you time to experiment.  At university I started and sold three small businesses without a *need* for them to be massive successes.  A sandbox persay. (Case in point Facebook started whilst the founder was at uni.)

5) A train ticket

Gaining a degree allowed me to take on much higher paying jobs in order to finance some of my ventures.  It also provides a fallback should you ever need it.

6) Freebies!

Being a student allows you many freebies, business advice, legal advice, entrance to events, business speakers, networks, alumni.  Hey I even leveraged my role as a student to get into a conference (for free by helping out with registrations) where I met Sir Bob Geldof amongst others.

If you attend university with the right attitude it will accelerate your learning and avoidance of mistakes others have already made.  Thus (I believe) cancelling out the time you have invested in uni.

(Update: By the above statement ‘but the key is they WENT to university’ I wanted to more quash the common defence I hear ‘but yeah the good entrepreneurs drop out’, unfortunately it has been understood by a few as causation, moreso hey they went to uni maybe they got the same stuff I did out of it, thanks guys -Ben).

Twitter has in my mind reached a tipping point.

Reason being? at a family function last night someone asked me about twitter, something happened this week and suddenly everyone knows about it.

I will check in a few months and see if indeed this week has been it.  It definitely is in conversations it wasn’t last week.

Radio mentions, Skittles, Tv, all these things have combined.

People all over the world are asking the ‘internet guy’ in their frame of reference, what is this twitter?

If you are  a brand who has exposed yourself to this internet guy you are ahead.  For me I highlighted Twitter with Vodafone & Telecom, brands they know.  If you haven’t made the leap you are already behind.

Now twitter has reached this, what is the next step? Monetisation.

Tip of everyones tongues.

And from my readings, observations and looking forward several steps, contextual advertising is the way to go.

Twitter bridges the gap between, locality, motivation, mood that Google doesn’t.

Live, response driven ads, are going to not only help the twitter experience, they will drive a lot of value to users.

Imagine an event being cancelled, a competitor can immediately place an ad saying hey we are still on, for all those that search for the event.  This is timely, relevant and reaches a motivated audience.

That is just one application, same can be for brand monitoring ie search for coca cola, coca cola has a special deal or competition running.

I would certainly pay for an advertisement to pop up everytime someone searched bwagy or ben young.

That’s friday thoughts, have a think, how would you leverage advertising on real time search?

(Note: by definition Google is post-search, it searches events that have already happened, certainly within the frame of reference of someone who wants information from within 15 mins ago).