Facts matter

Thoughts

Yesterday I got wrapped up in a Twitter-fight. I know, you should never allow yourself to be in that position, but in this case ‘the arsonist tweet’ was so profoundly…don’t know what to call it…I couldn’t help myself.

Basically, the discussion was around what or who killed Danish the Danish chain of bookstores, Arnold Busck, which has gone belly up. The argument – without any supporting data, analysis and/or argument – was that it was…wait for it…the public libraries.

Because people have access to public libraries and can borrow books for free, Arnold Busck died an unfair death.

WTF?!

Never mind that liberalisation of the Danish market for books years ago allowed supermarkets to sell books at a discount with predictable results. Never mind online book stores discounting books and providing free shipping, if you’re a paying member. Never mind the huge positive socioeconomic effects of libraries on education among other things. Never mind that fewer people actually use libraries to borrow books – because they buy them instead (!!)

The cause of death of Arnold Busck can most likely be found in the mix of cheap crime litterature (that Danes read A LOT) in super markets and a better and cheaper inventory online. And then I haven’t even mentioned A-M-A-Z-O-N…

Etcetera ad nauseam.

But let us close down the libraries so a super challenged chain of bookstores with premium book prices, limited stock of titles, expensive prime real estate, a f***** IT system with an inept implementation gone haywire and what have you can be put on life support for a few more months.

(*SIGH*)

The point here is not to show how misguided the original ‘argument’ is – although it is and it took me roughly 3 minutes of basic online research and insertion of relevant links above to make a far more nuanced analysis of the real problem.

No, the point here is to show for all what kind of problems we create for ourselves when we can’t be bothered getting our facts straight before we come out with totally unsubstantiated conclusions.

It can be ok when it only happens on Twitter (except it gets you all worked up and leads to wasted time arguing and posts like this). But when business decisions are based on the same kind of deeply flawed logic and approach – and trust me: it happens multiple times every second all over the place – we’re not making ourselves better off. We’re making ourselves worse off.

We can and should do better.

(Photo: Pixabay.com)

We have the first winner

News

Yesterday marked the climax of our iQnite case competition on climate change at inQvation. 5 teams pitched their ideas for solutions in front of a very experienced and competetent panel.

All the teams did a great job, and in the end Kleen Hub ran away with it. I will now get the opportunity to help them grow their circular concept within fast food packaging over the coming months. It is a really great team with an equally great idea, and I can’t wait to get started.

It has been an amazing experience to start from scratch with no more than a vague idea and then finish off with being able to crown a winner. We have learned a lot from it – the good and the not so good – and we will spend the coming weeks reflecting and documenting our learnings, so we can hopefully return with a new edition of the iQnite case competition at some later point.

(Photo: Personal)

The competition is on!

Work

Last Friday and Saturday we hosted the first bootcamp of the iQnite case competition on climate change at our inQvation-hub in Taastrup. 35 participants turned up to spend two days exploring and sharpening their idea in the hope of making it into the main competition.

For me as an organizer it was an amazing event. When you do something like this for the first time, you are always a bit nervous how things are going to turn out. How many people will sign up? What will their profiles be? What are their ideas about? And how many will actually show up and do the work?

We had set ourselves a goal of getting 8-10 great teams or projects into the main competition. We ended up with 9, which is super. They are very diverse both in focus, industry, background, experience and so on, and it is truly a great experience to get to work with such a great bunch of people looking to drive change.

Lead by experience

Thoughts

Yesterday, the company I chose to deliver fiber to my home made their best effort to loose me as a customer. Due to unfortunate circumstances I narrowly missed a visit by a technician, and when I called them to figure out what went wrong, the customer support was rude and hung up on me.

Companies behaving that way may have a good or even great product. But they have a shitty customer experience. And in a day and age where basically everybody can do anything, the true differentiator between winning and losing as a business with the customer is precisely what happened to me: A shitty customer experience.

Whether you are in a corporate or getting your own startup off the ground you should aim to lead by experience; be the most open, accommodating, empathetic and what have you. Because even if I as a customer come to you with a problem, I will remember you cared – and I will our relationship an extra shot.

(Photo: Pixabay.com)

Get value from values

Thoughts

What does it mean to have something of real economic value that customers want? Is it to have the best product within a category worth an extra charge, or is it to have a product that sits so well with the belief system of the customer that they are willing to pay a premium price for?

Luckily, it seems to be the latter. And it is great for a couple of reasons.

First of all, it vindicates those who strive for domination within a niche by building run-of-the-mill products that are just cheaper for customers to buy. Personally, I have never been a big fan of competiting on price because I don’t fance the end game; essentially free offerings. Second, I find it reassuring that despite everything else that is going on, customers are still looking to pay decent money for offerings that fits well with their personal belief system(s). This should be a welcome call-to-arms for everybody working on making customers better off.

(Photo: Pixabay.com)