Archive for April, 2008

Jumbo Shrimp Marketing

Friday, April 25th, 2008

Several months ago I stumbled across some YouTube marketing presentations by John Moore of Brand Autopsy.

Here’s an interesting presentation called “Jumbo Marketing: Get Bigger by Acting Smaller”.

In this clip, John, formerly a National Director of Marketing for Whole Foods Market, outlines some of his thoughts on “Getting Bigger by Acting Smaller”:

1. Be the best, not the biggest

2. Be passionate about your business

3. Passion attracts passion

4. Treat employees as family

5. Re-define success–measure the impact

Check out these great blogs for more information about this topic:

Small is the new big

How Business Can Get Bigger by Acting Smaller

Bigger Isn’t Always Better

Small Giants

Alltop.com: Highly Organized Content

Wednesday, April 23rd, 2008

Spending time searching for relevant content online is something I am very familiar with.

How many hours have I wasted fumbling around search engines, targeted sites, and the whole confused mess of content that’s “out there”? I would estimate that I’ve wasted hundreds of hours sorting through this maze…

Apparently Guy Kawasaki and his team over at Nononina, Inc. were having the same problem.

So, like all great entrepreneurs do, Guy and his team went out and created a solution; Alltop.com.

www.alltop.com is a very well organized site that aggregates relevant websites within targeted categories. Naturally, I gravitate to the business section: Alltop Small Business

“Alltop is deceptively simple. The site gathers up the best suggestions from the most active social web users and compiles links into a simple, clean discovery space. For many, Alltop will replace their RSS readers.” Chris Shipley, the chairman of Guidewire Group.

Go take a look and see if you can’t find some areas of interest…you’ll find that the site’s organization, navigation and relevance are as good as it gets online.

Check out these great post for more information about this topic:

New Alltop Blog “Dashboard”

Catch Some Buzz from Alltop

Announcing (Formally) Alltop

Alltop is a One Stop Blog Shop

Entrepreneurial Instincts: Part 2

Wednesday, April 16th, 2008

Instinct: “An inborn pattern of behavior that is characteristic of a specific species…”

Entrepreneurs are a unique species. I wrote last month about some of the basic instincts of entrepreneurs when I introduced The Due Diligence Instinct and The Solution Instinct.

Here are two more to consider…

Youthful Genius Instinct: Most business owners have a story about how they started their first enterprise as a kid; selling lemonade, washing cars, or mowing lawns. My first business was in elementary school when I used to actually “trick-out” standard number two pencils. That’s right, first I would sand off the original yellow paint and then I’d use colored pencils and draw polka-dot, pin striped or Tye-dyed custom designs on the pencils. I’d pawn them off for $1 to my fellow 5th graders. Later, when I was a surf-obsessed teenager, and to my mom’s dismay, I decided to make surfboards in our garage. With my power-sander I would shape foam blanks leaving up to 10 inches of toxic foam layered throughout the garage…then, to make matters worse, I would spray paint designs on the boards and apply a fiberglass coat to the foam blanks. The marine resin coated our garage floor. She shut down my empire after selling only 3 boards. To this day; 20 years later, we still have surfboard paint and resin remnants in that garage.

Entrepreneurial Heritage: Entrepreneurial instincts definitely run in the family. The Trumps, Marriott’s, Romney’s, Murdoch’s and many other great entrepreneurial families pass-along the instincts of entrepreneurship to the next generation. Even among the unknown small business owners of America, the truth of entrepreneurial heritage is evident. My great, great grandfather started the business tradition by rounding-up wild horses and selling them to the US Government. My father operated a small company called Redi-Spuds, a produce company where my brother Greg and I would work together delivering french-fries, salad, and potatoes to restaurants in California. (Greg liked to toughen me up by locking me in the walk-in freezer and see if I could survive for an hour or so. Fun times.)

Your Next Business Is Right Under Your Nose

Saturday, April 12th, 2008

In 1997 my good friend Anton Visser and I were sales reps for Pyxis, a $500 million division of Cardinal Health. We sold point-of-use pharmaceutical and medical supply systems to small hospitals throughout the US.

While traveling on business trips we would spend nights in hotel rooms brainstorming new business ideas. It wasn’t long before we realized that we had a great idea right under our nose. Why not take what we were already selling, something we were already experts in and find a new, untapped market to expand into?

Within one year we had obtained a worldwide license to market automated point-of-use systems to the industrial supply and manufacturing industry, markets that Pyxis was not interested in approaching. We established DispenseSource (now Nexiant www.nexiant.com ) in 1999 and quickly raised over $10 million from venture capitalists.

Now, 8 years later, Anton is using the entrepreneurial model that has worked well for him once before. He’s finding yet another market for the technology that he knows so well. In 2008 Anton launched v-Supply (www.vsupply.com ) which brings the proven point-of use inventory systems of  Pyxis and Nexiant to the Dental industry.

Look around–What are you doing today in your current job or in your current business that can be introduced to a new market? Is there a software or service that you’ve been impressed with that might be applicable in another market or introduced to a new clientele?

Be aware that most of the great new businesses are not really that new at all–they’re usually spin-offs of something already proven.

Keep that in mind. You’re next great entrepreneurial idea might be closer than you think.

The 7-Sentence Marketing Plan

Sunday, April 6th, 2008

I read an article this morning on Entrepreneur.com that reminded me that I’ve strayed from some important basics within my own company.

At Northstar we launch a lot of new marketing initiatives. Sometimes we forget to outline a clear, concise plan before we move forward. That’s marketing 101, but even experienced marketers fall into the trap of overlooking fundamentals.

When I look back, I can see that failing to follow some basic rules of planning has cost us an awful lot.

I thought this was a nice reminder of how you can utilize a simple exercise to make sure that your marketing plan is headed in the right direction.

As Al Lautenslager explains, “Here’s a simple process to creating a marketing plan using just seven sentences”:

Sentence 1: What is the purpose of your marketing?

Sentence 2: Who is your target market?

Sentence 3: What is your niche?

Sentence 4: What are the benefits and competitive advantage?

Sentence 5: What is your identity?

Sentence 6: What tactics, strategies and weapons will you use to carry out your marketing?

Sentence 7: How much money will you spend on your marketing; what’s your marketing budget?

I’d suggest you go and read Al’s entire article, and most importantly, make sure you implement this simple strategy before your next market launch.

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