Aren’t We All Startups?

Maybe you should stop introducing yourself as a Startup and simply say what you’re business is successful at delivering.
John Kobel

Background

In my last post – Start Hanging Out With People Who May Have Your Solutions, I reiterated the value of Steve Blank’s “Get Out Of The Building” and Mark Suster’s post “Why You Need to Take 50 Coffee Meetings”. Here’s an example of the my Return On Investment (ROI).

Aren’t We All Startups?

After watching me pitch over the last few Westmount Networking Breakfasts, John Kobel offered me some friendly advice. He suggested that people may avoid doing business with a Startup because it sounds risky. People want to do business with successful people with a proven track record.  So when it came to my turn to pitch, I shared John’s advice & dropped the “Startup” from my opening 🙂

But as I listened to everyone else’s pitches, I couldn’t help but notice that we’re all Startups – in one form, or, another. Yes, some have established businesses behind him and some have been at this longer than I have. But in the end, we’re all pitching. We’re all searching for the right words to connect with someone listening & open the door to building a relationship.

The problem with networking meetings in general – not just our’s, is that we’re usually pitching to the same crowd with a few visitors.  Now I understand these meetings are more about developing long-term relationships that typically pay off over the years.  But there are lessons to be learned from all these Coffee Meetings (and other events) and no reason they can’t deliver an earlier Return On Investment. That’s when I had my Light Bulb! “Ah Ha Moment”. All I had to do was start listening to the customer & find early adopters who, not just want the service, but truly need it.

One-Liner

Nearly All Consumers (97%) Now Use Online Media to Shop Locally, According to BIA/Kelsey and ConStat, March 2010. How many are finding you? Give us your sales pitch and we’ll connect them with you, right from your Inbox. Forget about managing search engine marketing campaigns, web sites and even qualifying the leads. Our metrics prove we can do it all for a fraction of what it would typically cost you. We are ReverseTheSearch.co.

I need to work on our true customer – the supplier, landing page but that’s the big idea. From a Pivot point-of-view, there’s really no change to the core principle. In fact, we’re actually trimming away a lot of the Waste and starting over with the Minimum Viable Product.

Next Up

I’ll fill in some blanks with the Elevator Pitch version coming soon. But in the meantime, feel free to contact me with any thoughts.

Start Hanging Out With People Who May Have Your Solutions

Stop staying around people who have your problems and start staying around ones who have your solutions.
Jeffrey G. Allen, Instant Interviews

Background

About a month ago, I was at local Startup Drink night and met Mohd Shahnawaz. Crying in my beer about my inability to get traction for my startup, Mohd recounted Jeffrey G. Allens’ quote & suggested I try finding events where people may actually have the skill-sets I looking for.  Oddly enough, my favorite Startup Lessons Learned is Steve Blank’s “Get Out Of The Building”. Unfortunately, my myopia equated it with Customer Development & not recruiting. But as luck would have it, I had just received an email inviting me to the weekly Westmount Networking Breakfast & figured that’d be the perfect place to start.

Westmount Networking Breakfast

With about a dozen people in attendance, we went around the room giving our respective 60-second “info-mercials” (or, “Elevator Pitch” in geek-speak) and concluded by describing the perfect new contact we’d like to meet.  Being the week after the International Startup Festival, I figured my pitch was in fine form. I figured wrong! It was met with confusion. However, it did validate that I definitely needed someone in Marketing.

During the meeting & over the next week, I met with some & gathered more & more feedback.  As each week went by, I tweaked my Pitch & tried my best to come up with something that not only resonated with the audience but had potential to even help some.

Going For Coffee is Not a Waste

This morning, I was reading Mark Suster’s post “Why You Need to Take 50 Coffee Meetings” & posted the following Comment:

As a techie startup, not every challenge can be resolved writing code – like Customer Development (Steve Blank).  Instinctively, going out for coffee seems to align more with Lean’s definition of Waste (“Any human activity that absorbs resources but creates no value”, Taiichi Ohno, Toyota Production System.) But nothing can be further from the truth. Providing you’re not going out for coffee to listen to yourself pitch, or, drink your own Kool-aid, getting out offers  huge opportunities to save precious time & resources.

 

Recently, I started attending a weekly business networking breakfast of 10-15 regulars where we all take turns presenting what we do (Elevator Pitch) & the ideal contact we’d like to make. And while I’m the only Techie Startup, everyone else in the room is pretty much a Startup, whether they’re a Small Medium sized Business (SMB), or, an agent for a larger organization.  Personally, I love presenting/pitching, so I look forward to every meeting where I could tweak & tune my Pitch, hoping it aligns better with the audience’s needs. It’s a lot cheaper to change a 60-second Pitch than to keep cranking out scalable code that customers will may never execute.

 

For those who shy away from presenting, there’s no better place & forgiving audience to practice in front of, week after week.  (Steve Jobs doesn’t wing it.) Going for coffee is not a Waste – it’s a opportunity. Blowing a face-to-face potential stakeholder (employee, business partner, customer) meeting, now that’s a Waste.
Thanks Mark for drawing those thoughts out of me. I feel a blog post coming on 🙂

Lessons To Learn

Read Mark’s post, join a local business networking group, go beyond “Getting out of the building” and “Coffee Meetings” and “Stop staying around people who have your problems and start staying around ones who have your solutions.”

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