Thoughtpick: A unique perspective of the Web and social media...
A unique perspective of the Web and social media...

March 9, 2010

Failure is Critical

Whether you’re aware of it or not, you, the humble reader, are quite accustomed to failure. Think back to the start of your day, from the moment you woke up until now. What’s the first failure you can think of? How about a less obvious and even smaller failure?

My answers to those questions: after waking up I habitually pull on a cord to open the blinds to get a look at the weather. This morning I didn’t have a firm grasp on the cord and as I pulled on it my hand slipped off the plastic knob which then went about whipping me in the face. That was a surprising failure. A more subtle failure was that I let my green tea steep too long, making it taste a bit like fish.

I reacted to both failures in a certain way. Whipping myself in the face made me feel stupid for a moment, but then I had an idea for an alarm clock that would open the blinds for me. Steeping my green tea too long inspired me to see if anyone made a timer that would lift the tea bag out when ready.

Rather than simply say to myself “iIll remember that for next time.”, I said “there’s a solution to that problem that I can either buy already or I could sell.”

These are trivial failures used mainly to help illustrate a point. Oversteeping tea is a lot different than overestimating the demand for your product.

Which leads me to core of what I’ve been wanting to suggest all along: good entrepreneurs know not only how turn failure into success, but how to increase their opportunities to learn from failure.

Let me pitch a business idea:

We’re going to head over to Germany and see if the record stores there will either give or sell their unsold stock for cheap, then we’ll load them up in the trunk of my car and try to sell them to people walking past.

That sounds like a very simple idea that is also destined for failure. But that’s exactly how Virgin Records started. While it’s hard to find a diary of everything that’s wrong with the idea, two things are clear: every failure Branson experienced was overcome, and even if he hadn’t been able to gain from his failures the initial financial costs to Branson were incredibly low. By design, he made it easy to fail.

The phrase “fail fast” is practically a cliche now, but the principles behind the phrase are what allowed Branson to iteratively fail, learn from mistakes made, grow as a result, and become one of the world’s richest men.

Speaking about his decision to start an airline, Branson said:

My interest in life comes from setting myself huge, apparently unachievable challenges and trying to rise above them…

I’d bet that the cost for Branson to travel from the UK to Germany to start Virgin Records is more than what it costs to incorporate, get basic accounting in place, and setup the services to start accepting payments from customers costs today.

Here are just a few services that can help you get started down a path of failing, succeeding, and repeating. Go rise above the unachievable!

Design
CrowdSpring
Sortfolio
99designs

Collaboration/Communication
Basecamp
Campfire
Skype
Grasshopper (disclaimer – I work for Grasshopper as Director of Grasshopper Labs)

Accounting/Billing
Freshbooks
LessAccounting
Chargify (disclaimer – Chargify started as a Grasshopper Labs project)

Filed under: Tips and How To’s — Tags: , , , , , , , , , — Michael Buffington – Director of Grasshopper Labs @ 4:22 pm

October 22, 2009

“Gone Google – Global Campaign Preview” [video]

Social media campaigns are rapidly becoming the latest global trend in marketing and advertising tactics. Whether or not a campaign succeeds or fails depends on a group of elements and factors, most importantly identifying the target audience and finding the best means to reach them!

In their latest campaign, Google took a rather uncomplicated road in handling their campaign in terms of their target audience as well as in their ability to add a unique touch in the presentation of their campaign.

A very simple, uncluttered, “happy” and fresh approach to marketing Google and all its success using the “Going Google” slogan which, to many of us, sounds familiar. They were able to smoothly slip in the names of those you have “Gone Google” in efforts to attract and seduce more highly reputed companies, universities and organizations to do the same!

The only thing that I don’t really like much about this campaign is the following: To those who are not really familiar with Google, this campaign would be worthless! Listing names and numbers alone would not entice me, personally, to use a services or application over another!

What do you think?

Filed under: Web News — Tags: , , , , , , — Beirut @ 7:35 pm

June 23, 2009

Top 10 Web Startup Business Screwups!

Why do many new web startups, with great ideas, valuable assets and deep motivation, fail? What are the major mistakes startups commit leading them to failure? What can be done to prolong the life of a startup rather than bring its business life to a guaranteed end?

It’s sad: the percentage of failed startups. It’s almost depressing! Even years ago, going back to the 90’s, it seems that startups have been failing continuously yet more discretely since social media channels and Web 2.0 were not in play!

A Table of Web Companies that Vanished!

A Table of Web Companies that Vanished!

Now many of you out there will think: why should I consider opening my own startup when there’s a 50-50% chance that it’s going to fail? Why not just apply for a stable company and settle for being an employee with a steady income? I beg to differ, the remaining successful 50% could be perceived positively! What failing startups lacked is the ability to learn from the mistakes of the many others! Yet now, with the abundant availability of failure stories, both online and offline, it has become easier to learn from the mistakes of others and try hard to avoid them.

So here’s what I’m going to do for this particular post: I’m going to choose a list of startups that failed and point out their mistakes clearly, explaining how they could be avoided in future ventures.

  1. Simplicity Does Not Substitute for Functionality!
    • AlmondRocks (as we were able to conclude from the little resources we found) created blogs that were too simple that they were actually useless!
  2. Don’t Underestimate Competition:
    • TinFinger Took their competition, Wikipedia – one of the top ten websites worldwide- lightly. They also concentrated on the technical side of the interface (RDF triples and semantic web) rather than the friendliness of the user experience.
    • Feedster, a search engine which seems to have been resurrected then killed again, is yet another example of underestimating competition, in this case: Google! [read full article >>]

April 17, 2009

Did social media fail the Egyptians?

Earlier last week I attended a journalists’ panel discussion in Alexandria Library. The panel meant to discuss social media effect in mobilizing people. To be more specific, it focused on giving answers to the question of why social media failed to mobilize people in Egypt on the ‘Day of Anger’.

According to Arab Media Blog, ‘The Day of Anger’ in Egypt was called by the April 6th Movement, a group of young activists formed last year after workers protests culminated in clashes between security forces and workers in the Nile Delta town of Mahalla, killing three people, including a child, and injuring more than 150.

Egyptian activists focused on Facebook and SMS text messages to gain support for their protests. One of the Facebook groups ‘April 6 Youth’ – not affiliated with any particular political movement – boasts more than 75,000 online members with a motto “It’s our right, and we’ll take it”. Many news outlets reported their two main demands: “setting the national minimum monthly wage at 1,200 Egyptian pounds (213 dollars) and electing a body to draft a new constitution – The current minimum wage in Egypt is 167 Egyptian pounds (29 dollars) -”.

With all the hype of social media one would expect huge demonstrations. Unfortunately, there wasn’t much anger in Egypt on the ‘Day of Anger’. Why?

Egyptian journalists attending the discussion panel rationalized it for two main reasons:

  1. The heavy security measurements applied by the Egyptian government security forces. Dozens of people were arrested in the run-up of the planned day. “Police have been given the order to arrest anyone taking part in demonstrations. Extra security forces are deployed around sensitive sites in Cairo and around the country” said a security official.
  2. The virtual aspect of the movement which lacked any real organization or set of demands, couldn’t build the trust needed to create a coalition among desperate groups to demand real change.

Markmedia, a social media expert and one of the main speakers at the panel, corrected the notion of the failure of social media and highlighted a very important point: “Social media is a tool, it doesn’t mobilize people. People are the ones to mobilize each other”.

Throughout history few people have always managed to influence the masses. Think Jesus Christ, Carl Marx and Mahatma Gandhi – just to mention few. In today’s world, such influencers have even more powerful tools to pass on their messages and reach the masses.

Social Media broke the monopoly of mainstream media over reflecting people’s voices. Markmedia put it eloquently “Mainstream media used to say we are the voice of the people. Now people are saying: “F*** off we have our own voices”.

Social media wasn’t used effectively enough to help mobilizing people in Egypt. I looked for other examples over the web where social media failed to mobilize people but didn’t find any -please feel free to point out any other examples -. Although there are many cases where social media failed in business marketing: research firm Gartner claims that many social media campaigns are doomed to fail! Facebook Beacon is an example. There are many successful stories where social media was used successfully. I will leave that for another post.

Now, answer me: Should dictatorships fear the power of the Web today? Or can they manage to suppress the emergence of social media the way they have managed to do with other communication medium?

Filed under: Controversial Picks, Web News — Tags: , , — Fadi @ 11:55 am