From fad to phenomenon

Personally, I am no big believer in all the talk about the ‘metaverse’; the idea that AR, VR, crypto, NFTs and other good stuff is going to be woven together and present a whole new kind of digital layer to our physical existence.

But I am reasonable enough to agree that when enough big players with big, big muscles are talking about the same thing – or at the very least the same ballpark of a thing – the likelihood of it coming to fruition grows significantly.

Simply by applying brute force, so to say.

The way I see trends, I don’t see them as a force of nature. I see them as entirely man made. They are what happens when enough powerful people agree to move into the same general direction and drag all the rest of us along.

Thus a powerful tool for spotting trends is listening in on what people talk about and what the powerful people with ability and money actually does. What they do doesn’t necessarily have to make a lot of logical sense from a qualitative point-of-view – it’s all about the quantity here.

Does that mean that big trends will work for the better for all of us? Not necessarily. It just means that when there is money to be made from something happening and arguing its a positive thing for the greater good, it will happen. No matter if it is, indeed, good or bad.

That’s basically how you can turn a potential fad into a phenomenon.

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The right experiments

When you’re experimenting with new technologies and new ways of doing things, make sure that you get the order of sequence right.

Don’t fall into the trap of experimenting based on what is easiest from a technology point-of-view. While it may seem like a great idea and a good way to get started and move ahead with speed, the big risk is that you’ll be working with solutions looking for a problem rather than the other way around.

Instead look at the problem, you need to fix. And then start to consider what needs to be true from a technology point-of-view before you can start fixing the problem and bringing an actual solution to market for customers to give feedback on. That will dramatically increase your chances of getting out there with a real solution.

Will it take longer time? Yes. Will it me more cumbersome? Probably. But it’s the best way to go in order for you to ensure that you get real value and not just fun out of your experiments.

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Cash value of communication

Often times I meet people who question the value of a focused, operational communications strategy. The argument is that there are plenty of other more important jobs to get done before looking coherently at communications.

Allow me as a former communications professional to take a step back and look at the kind of value, great communication can unlock for a startup. I will do so over a couple of posts here, and today I will be looking at one of the really easy ones to measure:

Sales.

Normally, when we think of sales, we think it of it as an effort to get our offer in front of the right people in order for them to make a decision on whether they want to buy our solution or not. The more we work diligently with sales, the better we will be at getting it in front of the right people, the more hot leads will be created, the better conversation rates will be and – ultimately – the more we will sell.

Ok.

So what role does communications play in that? Let’s look at it from a structured operational perspective:

Let’s assume you have your OKRs in place. You know what your objectives for the upcoming quarter(s) are, and you have identified the measurable key results that will support you in understanding what kind of progress you’re making towards reaching those goals.

If we look at sales, the objective could be to launch a new product successfully, and a key result could easily be to get 200 new hot leads and book 50 first sales meetings.

Ok. Where does communication come into play here?

Easy.

When you look at the job of getting 200 new leads, you need to figure out where to find them but – more importantly – WHAT to tell them in order to get them interested, so they become a hot new lead, you can work with.

In order to know what to tell them, you need to have a clearly crafted value proposition and a wording of it that resonates with the intended target audience, so you can optimize your conversion.

That’s all about communication and getting the actual words right.

Furthermore, in order to be on the radar of your future customers, when you try to convert them into hot leads, you need to have created awareness and a presence about your startup, your brand and, most importantly, your product(s). And you need to have done so in a way that is available and convincing in a way that sits well with your future customers.

That’s all about communication, too.

Finally, when you have the sales meetings, you need to ensure that the people you meet get hooked enough to buy. They need to be convinced by those final killer arguments for why your product is the solution to their problem, and doing so in a scalable way requires not only a solid structure but also – again – the most effective words.

Surprise, that’s communication too.

All in all a focus on great end effective communications is a powerful an extremely valuable driver for driving sales. It’s not just a marketing job – and yes, marketing is communications too. And communications is not only about PR and looking good on SoMe.

So do yourself a favor and prioritize your communications efforts in your startup. Doing it right can – almost – be translated to money in the bank.

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The power of disagreement

Being in disagreement sucks. Not only is it a sure way of ensuring you defocus from what you should ideally be working on. It also can be completely draining of energy. And depending on how the disagreement plays out, it can be downright nasty and make you want to head for the exit.

But there is actually real power in disagreement. If you are able to unleash it.

When we violently disagree on something, it is an opportunity to broaden our own horizons and get creative about new ways of looking at the world and new solutions to existing problems.

Looked at it that way being in disagreement can be the biggest catalyst of positive change in your team and your business. It can provide that ‘Heu-re-ka’ moment you all need to move on in a better direction.

But it requires something. It requires removing your ego from the equation and not be tempted to view disagreement as a personal matter that has more to do with you as a person and your relationship(s) with the one(s) critiquing you. If you fall in that trap, you’re immediately on the slide towards the dark side.

Instead you should be asking yourself: “What can I learn from this?” and “Where’s the bigger and important point in what the other one is arguing?” and then work onwards from that.

Now, in fairness, it’s super hard to do. Especially if you have great pride and integrity, and you’re passionate about what you work with. That sets you up pretty well for taking a slap to the face very personal.

But try to steer clear of it and focus on the opportunity. It will most likely be way better for your business, your team, your relationships with team members. And yourself, of course.

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3 tips for setting OKRs

Today marks the beginning of the last quarter of the calendar year 2021. For many that’s an opportunity to assess previous objectives and set up new ones for the new quarter using the OKR method made famous by Google.

That’s all great. But what many find is that OKRs can actually be quite tricky to set up in a truly meaningful way. So let me offer 3 tips for how you can get more our of OKRs.

First of all, think of OKRs as essentially a Christmas tree that cascades down through your organization. You start by identifying one big hairy goal (=objective) for the entire company and 3-4 key results that supports the goal in the sense that you will know that when you achieve these results, you will most likely have achieved or at the very least moved a lot closer to achieving your objective.

Second, take those key results and turn them into new objectives further down the organization. And let them create their own key results that supports reaching those objectives. And so on and so on until finally everybody through the org will have objectives and key results against them that cascades back to the very top. That will ensure that everybody is working towards the same hairy goal.

Finally, when defining your objectives start with a problem. No matter where you sit in the organization, you will have a clear idea about which problems you need to tackle in order to achieve your overall objective. Take those problems and turn them into objectives.

Doing that will simply help to ensure that you’re working on something that not only drives the company in the right direction but also works to overcome some of the problems you need to solve.

And remember: Objectives are qualitative and by definition not measurable. Key results are quantitative and ALWAYS measurable.

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It takes a full team

One of the great misconceptions in working to build a startup from scratch is that you need only be great at one thing – typically product development – and then you can wing and learn the rest.

Why do I think it’s a wrong approach?

First of all, you’re essentially working on a wrong assumption about what’s needed to become really successful. Because just as innovation, product development and delivery takes skill and experience, so do the ‘boring’ business parts.

In essence it may actually be more difficult to build a business than develop a product; when you’re developing a product you can get very far with your own skills (provided they’re good enough), but when you move out into the market, the whole world goes into flux, the interdependencies are huge and the risk as well. And it just takes a pretty steady set of hands to work that infinite space.

Second, you risk spending your time, energy and ressources on the wrong things. If you’re a stellar developer, you should be focusing on development. Full stop. You should now water down and defocus your unfair advantage by taking on tasks, you don’t feel confident in and – lets face it – basically care very little about.

You should leave all those things to people who have the same qualities as yourself – but within the business/market facing aspects of your startup.

In summary, the key message here is that it ALWAYS takes a full team to succeed. And since you cannot by everywhere and bring your A game to every aspect of getting a successful business up and running, make sure that you get A players in all positions and show them faith and trust that they’re capable people who knows what’s needed to be successful.

That’s the best way for you to maximize your chances of success.

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See you at TechBBQ

This Thursday and Friday I am going to the TechBBQ tech conference in Copenhagen.

Am I looking forward to it? You bet, I am. I can’t remember when the last time was I had the opportunity to go to a conference, meet new people and learn interesting things. But it feels like it has been ages.

I think a lot of us are really looking forward to going out among others again in a professional setting after the long Covid-19 isolation. And maybe – just maybe – the lockdown has been a blessing in disguise in the sense that we’re now not taking opportunities to meet in person for granted but are instead looking to get the absolute most out of them.

I certainly intend to. I have a bunch of 1:1 meetings lined up with interesting people, but if you see me there, please feel free to come and say ‘Hi!’.

If you’re unsure of whether it’s me, I will be wearing ‘People’ clothing, so I should be recognizable.

I hope to see you there!

(Photo by Adam Jang on Unsplash)

The crisis plan

One of the worst things you can do is to try and make important decisions when you’re under great stress. While it can sometimes be necessary, the chances that you get it right are rather slim.

The best way to mitigate the risk of ending in that situation is to always have a contingency plan; a pretty straightforward plan that says what you are going to do if the shit hits the fan, and you need to get into full crisis mode.

Will the contingency plan always fit the crisis situation spot on? Of course not. But it will give you a much better vantage point to deal with the crisis from than – worst case – sheer panic.

A good contingency plan should focus on how you plan to deal with the really tough questions, if you need to:

How do you minimize your burn to the essentials without risking killing your company in the process? How do you deal with your team and let them in on what is happening in the best way possible? And following on from that: How do you scale your organization to the new reality in the best possible way?

These are all super hard decisions that no one are comfortable making. But by at least having given it some thought well in advance, when things are still looking good and going in the right direction, you’re able to address them with much more clear eyes and a sharp mind.

You can always hope and work towards ensuring that you will never get to use the plan. But at least you will have one. And that’s a huge difference.

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