Friday, December 28, 2007

New Year, New Hope- Testing the Market

The approaching turn of the calendar year brings me relief and excitement when it relates to this business venture. While things have slowly limped along over the holiday season, I am anticipating a sense of reinvigoration and excitement that will come with a fresh 365 days to turn nothing into something.

The research and development of our first product is progressing nicely. I have personally collected and organized a database of information that should be both valuable and well-received by Internet users. While there are a few areas of concern, I see the testing phase as a welcomed next step to smoothing the wrinkles out of our idea.

Realizing that any product or service launch should be sampled in a test market builds my confidence that we'll get this concept right when we release it to the masses. Anyone that rushes past this step is foolish to believe that a good idea poorly executed won't be cast aside at the first sign of shoddy design. It's something to remember if you're in a hurry to get on the market. I worked in the healthcare industry long enough to see that even medical device companies make that mistake. If it fails, be happy your product doesn't end lives, but fear that it might end yours as an entrepreneur.

Sunday, December 16, 2007

Wise Word Blurbs

Browsing the net for blogs on entrepreneurship, I came across www.cheaprevolution.com, a site focused on Internet entrepreneurship. Their latest post lists twenty quotes on the topic, a few of which I found extremely inspiring.

"Entrepreneurship is living a few years of your life like most people won't, so that you can spend the rest of your life like most people can't"
Anonymous

"Some people dream of great accomplishments, while others stay awake and do them" Anonymous

As I progress in the day-to-day development of the company and our introductory services, I am finding it easy to forget how unique of an opportunity I've been granted. These quotes are statements I plan to reference as a reminder that successful entrepreneurs are those that sacrifice early and often for their business. Extra hours, extra effort and fearlessness are aspects to commit to if you expect to achieve relevance in an established marketplace.

Checkout the Cheap Revolution blog for other posts covering a variety of Internet topics and find a few quotes out there that motivate you to push harder when the comforts of life pull.

Friday, December 7, 2007

Checks to Stay Balanced

Creating a usable, flawless and relevant service from nothing more than the power of imagination is both taxing and exhilirating. The rewarding emotions that come from such a process are second to none. Yet, no matter how exciting it is to develop something brand new, it is equally stressful realizing that the success of any fresh idea is in the hands of everyone but the creator.

Our services are slowly but surely coming along, but each time a step forward is made I must remind myself to pause and conduct checks against what we are doing to be sure that it's worthwhile. Examples of these checks include conducting online surveys, reading professional advice on blogs and studying the competitive landscape to exhaustion. No new idea is entirely original. There are variations or similarities and as soon as a new product or service is on the market, someone else will find it's flaws and do it better...potentially putting you out of business in the process.

That is why it is important to be thorough and not settle for anything but what you truly desire your product to be in the development phase. You'll waste dollars fixing it in the future if you don't, and by then it might be too late to fix. For online services, such as ours, consider developing multiple sites with similar themes and create a network of relevant sites that compliment one another. This will expand your reach, drive traffic numbers up and broaden the scope of information you can directly offer to users, while ultimately offering more to potential advertisers in the process. It's a simple formula, but not always easy to execute. This wild ride continues...

Tuesday, December 4, 2007

Week's Worth

It’s been a crazy week of transition for the company. Moving into the new office has put standard process and organization to the test, as we’ve been forced to stop working for phone companies, locksmiths, Internet connections and more. Luckily, things seem to be smoothing out now and I’ve been able to concentrate more on work.

Each day I continue to grow as an entrepreneur. I’m learning more about establishing my network of resources and tapping into the infinite amount of free information. Whether I am receiving advice from former colleagues, tapping into my circle of friends and family or scouring publications and websites for leads, I am seeing more and more that the business world can be understood and played to your advantage if you are willing to do the grunt work and dig-in; it’s a matter of always believing that what you seek is out there somewhere and at a price lower than the competition is paying, but only if you’re willing to work for it.

So where does the business stand today? The design and content for our website have been finalized. Our designer is busy putting together the site and our goal is to have it launched within 10-14 days (just in time for a happy holiday!). Product development continues, with site maps being sketched out and our information for our databases being compiled. We’re also in the process of screening other web developers for the more complex programming we’ll need to accomplish. Client research is also being done, as lists of potential leads has been established. We’re setting the stage so that once our site is up and our business cards are printed we’ll be ready to run. I can’t wait…

Monday, November 26, 2007

Move-in Day

The building is ready and this afternoon I settled in for the first time. My spacious new office area currently holds a desk, a chair and a fake plant, but the symbolism of this day is much more. This is the place that I have the opportunity to build my future from. While this entrepreneurial effort has been underway for over a month, putting a location to the business finally makes it a reality. Now with an internet connection, a skype account and a parking spot I am set to attack this challenge head on. If I was motivated before, I am twice as passionate now.

Speaking of Skype; is there any reason why I shouldn't be using this service to make my calls? I understand that it's not the ideal service because of restrictions with receiving calls and recording voice mail, but strictly from a dialing-out standpoint, Skype offers roughly 360 minutes of calling for $10. It's a steal compared to cell phone providers. Using my newly purchased Logitech wireless communication package ($40, regularly $130, Office Max on Black Friday) I plan to take advantage of this beneficial service.

Wednesday, November 21, 2007

One Last Day Relaxed

Tomorrow is Thanksgiving Day and our new office is officially ready for use. Internet and phone lines will be installed and ready and upon my return from celebrating the holiday with family, I will be spending my work days within the walls of a formal business setting.

It’s a bittersweet realization that my practices of working from home are coming to a close. Traditionally, no one would have such a luxury, unless they are self-employed. While I do consider myself an entrepreneur, I am still obligated to a business and the co-founder. This means that while I’d love to continue working from home, I must accept the fact that a 9-5 office is a more intuitive environment for our collaboration.

This does spark a debate on whether working from home is better or worse for efficiency and productivity. I must say, the flexibility it allows helped me maintain motivation and energy throughout the day. It made work a part of a more balanced routine, which ultimately contributed to a more relaxed and exciting atmosphere for creative thought and organization.

There are downfalls to working from home however; primarily the inaccessibility to your co-workers, a lack of a central location to have clients visit or hold meetings and non-related distractions that can interfere with accomplishing business tasks. If I were to recommend a perfect working scenario, I would choose a balance between home and office. These past few weeks have shown me that you can truly accomplish great things when given the flexibility to work from the environment of your choice.

An example: I am currently typing this post from a diner with a hot cup of coffee in front of me and a warm breakfast on its way. The majority of my friends and former colleagues are in cubicles right now. I’m going to miss this…

I need to start promoting this blog and recruit an audience. Happy Thanksgiving to anyone reading!

Tuesday, November 20, 2007

Kindling Ideas

You never know where you’ll be when an idea sparks. In a moment the right elements can come together to form your next ingenious thought. My first occurrence of this as an entrepreneur was years ago, in the lecture hall of my college public relations course. Maybe it was the day’s lesson or maybe just my daydreaming, but on that day I had the idea for a campus event that would bring free food and products to students while putting money in my pocket and promoting local business. Within six months I had secured the venue, the vendors and the marketing tactics to get “U Fest” off the ground. It was my first success as a self-creator, but certainly not my last.

Several weeks ago more kindling was ignited by a spark when I was looking up the hours of area coffee shops for my girlfriend. Since she is in her last year of school and needs quiet places to study, I decided to be nice and provide her with the information that she was always looking up or calling for. I won’t disclose what idea this situation gave birth to, but it is my favorite yet and our business is currently in the process of developing the service. I spent today writing a snapshot marketing plan, researching the competitive landscape and discovering potential clients.

The excitement that comes from a new idea gives me an adrenaline rush that I only imagine extreme atheletes feel. It's this thrill that keeps me driven to never rely on others for my success. To quote a favorite song lyric, "choose not the life of limitation". Your next idea just might lie in your surroundings or daily actions. Don't stop looking around.

Thursday, November 15, 2007

Speed of Success

Over and over my generation is told that we grew-up in an era of entitlement. After our parents and grandparents struggled and labored to ensure that we were comfortable, more and more of us had everything we needed at an early age. We were setup to succeed and expected to. Yet, we were not always taught that before you can achieve success you must endure the pain of long hours, no social life, taxes, unfair wages and under appreciation. A lot of us just assumed we were going to climb the ladder quickly and collect our big check, so we could return to having fun and living the good life.

I'm guilty of this to some extent. I do expect success and have a hard time waiting for it. I want to be respected and wealthy now. It's not that I'm not willing to work for it, because I am, but it is knowing that it may take decades to achieve the same lifestyle I lived under my parents roof that I wasn't prepared for.

Now, as an entrepreneur, I am in a position to drive my own success at my pace, or so I thought. Having a business partner with a majority share means that most major decisions and all involving company funds must be approved. This leaves me at the will of my partner's approval process, which currently is moving very slowly. He has other businesses to run, has other employees and a family. I don't have a family to go home to or another job to focus on. This is my passion. I want to move this company to the top immediately and get frustrated with the stop and start nature of business.

I need to slow down. This is an opportunity that few ever have. I have fallen into a perfect scenario and need to appreciate that fact. While I want to move things along as quickly as possible, I also need to pause and check the quality of my work. It's important that I find ways to be more understanding of my partner's schedule and find ways to stay positive and occupied when waiting on next steps from him. Maybe it's the era of entitlement that has me in such a hurry. Maybe it's my confidence that this will work.

Wednesday, November 14, 2007

Early Riser

In high school, I was the kid that came to first hour and fell asleep in the back row. Then I would nap during my off hour. At night it was lights out around 1:30 AM, then being dragged out of bed by my parents at 6:30. Weekends meant I was up until 4:00 AM and out of bed by noon. It was the cycle I grew used to; I was a night owl.

This morning I was up at 6:00 AM and working from a local Dunn Brothers Coffee by 7:00. My previous job required me to be in the office by 8:45. You can imagine why 7:00 AM is a shock to the system for someone that isn't used to such insanity. Still, I just watched the sun illuminate the day and am wide awake. I have more done by 9:00 AM than ever before. It's a good feeling.

Without question, succeeding as an entrepreneur requires longer hours and dedication. Carpe diem rings more true for small businesses than anyone else. If your competition is working at 8:00 AM, then you'll need to be working at 7:00 to stay ahead. If they continue working until 8:00 PM, then you better be prepared to work until 9:00.

Monday, November 12, 2007

Tour de Cafe

I write this from the third cafe I've visited today...
Working from home has truly run it's course. It's just impossible to be productive while in your domain of comfort. So, I've spent the day alternating between different java retailers to stay productive. It helps that all of these locations must offer free Wi-Fi to stay competitive in the market. Now here I sit watching the sun fade and working away at an updated outline of our company website.

If I can offer advice (even rookies have some), it would be to frequently change your environment when exercising your entrepreneurial spirit. Different surroundings mean extra inspiration, a feeling of being amongst people that you don't get in small business and the caffeine to keep you motivated during the course of the long days that you're sure to work. Just be careful not to spend your company budget at these places. I'm up to $15 today.

As for our venture, things are moving along nicely. The focus has narrowed to getting our website up and running as soon as possible. The site overview I'm piecing together will serve as a blueprint for a hired programmer to build from. Hopefully working with a programmer that is a friend of my business partner doesn't hurt the quality of the site or timeline for getting it online.

At this point such a relationship offers us a discounted rate we can't refuse and reminds me that in entrepreneurship you need your network more than ever to survive. In fact, you can't expand that network quick enough. Maybe the person drinking a medium latte across from me is our next client? I'd never have the opportunity to find out if I were working from home.

Thursday, November 8, 2007

World Wide Resource

The Internet is playing a crucial role in our business model for success. While the products and services Cities Media Group is developing are not entirely web based, they do rely heavily on the medium to generate clients. Today I reflected on just how incredible the Internet is and what is has the power to do for my career.

While writing the contents of a media kit related to one of our service offerings, I found myself using the Internet frequently to fact check, conduct research and inspire creativity. At some point during this process I caught myself pausing and remembering what it was like to sit and watch a page load for 2o minutes as an 8-year old kid with dial-up and Prodigy as a web browser. In my fifth grade class we wrote the first research paper of our academic careers using hard copies of books for references. Now it seems like that was the Stoneage. It was only 15 years ago.

Today the Internet is a crucial part in the fabric of our lives. It's created realms for new businesses and careers, unleashed creativity and free expression, connected us globally and entertained us thoroughly. Here we stand in 2007 with our company launching and the web serving as the backbone of our livelihood. It's scary to think that we are investing so much in a virtual world, but the real world is taking notice that the future is even more digital. We're looking to be at the forefront of that transition now that the dot.com bust taught us how to do it right.

Tuesday, November 6, 2007

It's Official

Today was officially signing day for my employment with Cities Media Group. It's crazy to say that I am now the Executive Director of a company in which I have a vested interest. Even cooler is the fact that I have grounds to call myself an entrepreneur. This marks the start of a career built around self motivation and hard work. No one is going to make this a success for me; it's all on my shoulders.

Surprisingly, I feel no pressure in my current situation. Only excitement, determination and confidence. Times will certainly get harder and there will be moments in which I question why I got into this in the first place, but 9-5 corporate life isn't me and I want to control my own destiny. There is no way to tell how this will end, but I know that it's beginning with a smile on my face.

Monday, November 5, 2007

Enjoying This While I Can

Today was another fun day in my early career as an entrepreneur. I awoke and hammered out another product overview document and sent it off to my co-worker for review. Then I really took advantage of the flexibility of this new style of life by meeting my girlfriend for a cup of coffee. It was during that time that I paused to reflect on the fact that I have one hell of a gig right now. After the break, I was right back at researching the competitive environment and generating several new ideas for a brand identity for one of new services and enjoying every minute of it.

It's important that I point out why this blog lacks detail in regards to what my actual business venture is all about. My primary reason is rookie paranoia--- a fear that strikes in newbies who covet and protect their ideas like the CIA hides secrets. You'll have to excuse me if it's ridiculous that I chose to disclose so little...I'll find my comfort zone once we start making our products & services public.

In the meantime, I'm going to continue to enjoy the flexibility and low-key nature of this developmental phase. As soon as we launch these services things will never be the same. This may be the last week of normal breathing I have left.

Sunday, November 4, 2007

Always on the Clock

Despite my hopes to update this blog at least once a day, I slipped in my first week. Thursday and Friday were extremely busy days for my work efforts. As our new office continues to be renovated, I worked from home both days. My focus on these days was to write detailed product overviews for the two primary services that the business will offer. Part of this time was used to conduct related research as well.

The documents I generated were extremely in-depth and comprehensive. I was very excited to share them with my business partner/employer. Upon completing a document I would quickly email them off to him and await his response. Hours went by before I finally heard back, but the 90 minute conference-call to discuss the work I've been sweating-out was productive and encouraging.

Timely Lesson

If I took a lesson from today, it was that in entrepreneurship there are abnormal follow-up times and expectations with time all-together. The work day isn't 8 hours, it has to be 24 (as I discovered when I found myself working Saturday afternoon) if you want your business to compete. Co-workers and clients will be as busy or busier than you are, and response times will vary. It's become evident that to survive in this role I will have to be flexible and willing to fit work in anytime, anywhere.

Wednesday, October 31, 2007

I could get used to this...

Day 2:

I woke up at 9am and started up my laptop in bed. Right away I began to do research related to our first product concept as well as work on an outline for our company website...from bed. I could get used to this. Around 11:30 I checked-in with my business partner to confirm a lunch meeting. A quick break for a shower and I was on my way.

We met to prioritize our product ideas and the leg work we'd have to do internally to organize the company. These items came up:

1) Research the competitive landscape further
2) Have business cards and letterhead printed
3) Develop the internal website
4) Define the brand identity of the company
5) Draft a formal marketing plan
6) Create product descriptions and development steps

The next few weeks will be spent concentrating on these areas. Discussing our new services no doubt left both of us excited and ready to put in the long hours to get this off the ground. During our meeting I was able to choose my job title for this role. The choice: Executive Director. Now it's time to establish the reputation to match such an impressive name. After all, I could call myself king of kings, but if my efforts don't add up to profits I'll end up a peasant.

Tuesday, October 30, 2007

Foundation

This starts with a simple passion for ideas...

More specifically, my obsessive belief that there is no correct way to live and navigate through your professional life. In marketing we are taught to recognize the differences in our audiences; to identify what seperates one niche from another and then develop the tactics to reach them. Yet, in our own careers we have been convinced of the fact that a 9-5 job from an employer that provides an office, a benefits package and a series of tasks to complete each day is the standard...and it is, but only because we let it be.

Thus, I have decided to become a 23-year old entrepreneur and leave my cozy desk job at a full-service advertising and marketing agency to help found a start-up. This blog will serve as my canvas to archive my experiences as I strive to evolve from an unproven & enthusiastic idea man to a successful & respected entrepreneur.

Timeline of events that brought me here:

March 2004- Answered an ad in a college newspaper for a marketing/event planning internship with a restaurant management group
May 2004- Coordinated an event through same internship & met a local entrepreneur who has run successful businesses in the mobile communications, technology and transportation industries
Summer 2005- Partnered with new acquaintance to sell new ad-wrap concept on luxury vehicles & successfully planned and held a marketing expo targeted at college students. Clients and exhibitors included a professional sports team & major radio station
Fall 2005- Part ways to finish my communications/advertising studies
April 2006- Parlay a 2-week internship at an advertising/marketing agency into my first professional job as an assistant account manager for several major healthcare accounts. Experience also included a 4-month stint coordinating media placements for clients
December 2006- Finished degree in 4.5 years
September 2007- Reconnected with entrepreneurial friend and business partner to share ideas and discussed the founding of a new venture in which I would have an executive position + vested interest
October 2007- Made the decision to leave my positon with the advertising agency and take the offer to become a partner in a new start-up venture geared around creating new online & mobile platforms for selling ads

That's where things stand today...

The business agreement is being finalized with a lawyer and I am already working through my first list of tasks as our new office space is being finished. I will be working from home in the days to come and then moving to the permanent location shortly. Each day I will post a new thought or comment on how this process is working and promise to disclose much more detail and limit each post to more specific topics and less words.

I hope this blog serves as a tool for anyone considering the jump to self-employment or at least a reference point for others that have. It's a high risk/high reward style of life, but at least I'm in the driver's seat. Wish me luck.