Sunday Posts

As the crisis in jobs becomes apparent, many think that the way to maintain the Middle Class society is to be found in entrepreneurship. In their mind, it is a straightforward transition: People not finding jobs would start businesses. In some quarters, those look for jobs are already maligned - 'Job Takers' they are called - as opposed to those committing themselves to entrepreneurial journey, the 'Job Creators'. As always, the reality is harsher than the theory. But my point is not to challenge the idea that there should be more entrepreneurs. It is how to get there I have questions about. More specifically, my doubts are about the new trend of creating university-based incubators, US style, in the universities in developing countries. The incubators are taking the place of 'Placement Offices' or what was euphemistically called the 'Industry Collaboration Office', becoming the last mile of the students' life cycle in an university or a busine...

Here is a conversation in preparation: What have I learnt about Product Development through my years of hustle in my quest to build Education-to-Employment and Education-to-Enterprise pathways? Three things, essentially. 1. Most Start-Ups fail because they over-engineer the product.  It is the quest of perfect product that kills most start-ups. Of course, this is what Steven Gary Blank and the conversation around Lean Start-up is all about.  However, I think this problem is not just about the cost, but about the culture it implicitly builds. One can argue that if the monies are available, costs of product development should not be a huge problem.  But, even if product development is well resourced, too much focus on it creates a number of other fatal problems:  First, it makes product introductions really slow, and makes the company fall behind in fast-moving markets.  Second, and more crucially, this creates an inward-looking cultu...

Martin Reeves' TED talk, below, makes an important point: That there are other ways of thinking about strategy, business strategy, than the usual, mechanical, pursuit of efficiency. Whether or not you agree with Mr Reeves' point about building a business around the principles of the human immune system, you would perhaps agree that there is not much point in a strategy that crash and burn all too quickly. As for me, I would want to see this conversation, though this is NOT the point of the talk, as a part of a broader conversation about making businesses 'More Human', the title of a book by Steve Hilton (his arguments summarised in the video below). This is not what Martin Reeves is talking about - he is indeed arguing about a cleverer way of making strategy and rightly pointing out that the current methods of optimising is getting us nowhere - but one should remember that Corporate Strategy is built and executed within an environment of ideas, which is mechanica...

I have been through quite a bit - big companies, small companies, failed start-ups and successful ones, big companies pretending to be start-ups and start-ups pretending to be big companies - and despite my sincere efforts, I am yet to discover how to market a start-up. One could indeed say that about Marketing itself: John Wanamaker's " Half the money I spend on advertising is wasted; the trouble is I don't know which half " has been embraced as the justification of the marketing practise. However, while this may sound playful or funny in a big company, such an approach is plain fatal. The company could easily die, and mostly die, before ever reaching the useful part of marketing. But, then, this is perhaps a starting point to talk about marketing a start-up. That there is no money to waste, and therefore, no money to spend on marketing without knowing what works. Which is basically to say that start-ups must market itself differently from the big companies...

Lean has come to Education too, but it needs some special consideration. Education Start-Up is no longer an oxymoron, but a real thing. Venture Capitalists do invest in education, and some indeed treat this as the next big thing, a sector with abundant growth potential in an otherwise growth-less world. However, this is one sector in search of a business model: Most VCs would try to use models they use for technology or media businesses on education propositions - and they mostly do not work. I have tried and failed with an Education Start-up. Since then, my approach has been one of caution - quite antithetical to my usual excitable nature: Whenever I have been invited to join Founding Teams, I have shied away, and stated that the education start-ups need much more capital than one could possibly project using a technology or media investment model. This, because the Customer Discovery process, central in the Lean Start-up worldview, has special challenges when it comes to Ed...

As a trained marketer, my default position is - we must start with the customer! I have taken this as an article of faith, a common sense position that underlie all businesses, that businesses exist to solve the problems of the customers. That lasted till I started putting it into practice. The customers I met either did not care to talk to me or wanted me to give a solution. The entrepreneurs I met told me that the customers do not know what they want (quoting Steve Jobs, I figured out). And, the marketers, I realised, were all telling me that it is about telling the customer they are getting what they want, while giving them what we want to give them. I know this is cynical, but this is exactly what it feels like. True, we get to hear about companies which love their customers. But, once you have been inside the marketing box, it is hard to know what is for real. And, besides, even if some companies do and we get to hear about them, we get to hear about them simply as they are ...