So what skill are important as a startup CEO?
Defining the skills a startup CEO requires is addressed here by Stephen Millard of Norton Capital.
Fred Wilson, the VC, says “A CEO [only does] three things
Nurturing your black book network
Years ago, I became aware of an individual – a mid-level executive – who joined or was recruited (dependent on your angle) because of their Black Book contacts. Somehow, someone believed them. The situation that resulted is somewhat obvious. It all fell apart and turned nasty. And for everyone involved.
I, since, have never advised any business to recruit anyone, under any circumstances, based on industry contacts. It simply never works out – for the candidate for the employer in the long run. Maybe it does in the interim – but that is the issue – somebody is being taken advantage of, and to me, that is not acceptable.
Growth hacking doesn’t exist
An article I read answers one of the questions I am asked frequently: “what is growth hacking?”.
Well it exists. In my view. But not as we know it.
Bright future for agencies, just not as we know them today
I’m always interesting in (and share relevant) articles on the nature and make-up of the agency of the future. Cited in this article is what marketers seek from agencies and in summary:
Integrating client success into business development in a subscription economy
Planning for future success will pay dividends
A dynamic I see around my work has changed. New start-ups are facing an indeterminable future unless they plan within business development (and then client account management) to address the new market space – one where the barriers to exit have never been lower, the scope and spread (and power) of both Procurement and eProcurement and where the rise in ‘self-service’ on-boarding could see the decrease in brand/product loyalty all combining to create a more detached client/business relationship.
If the business, read billing, relationship is becoming more client-centric, in terms of power, then the focus should be ensuring that the client achieved their achieving goals/success – and should be the ‘why’ for the start-up.
Using social media, data backed answer
It is interesting to look how startups use social media. Whilst not an in-depth study – nor is the research data validated, there are some interesting take outs. Of the fifty startups across industries analysed, some interesting data was revealed.
The startups averaged USD$4.4m funding, split evenly between B2B and B2C.
Half of brands increase marketing spend, challenge of ROI measurement
A new research report out is showing that “52% of companies worldwide will increase marketing spend this year, an 11% drop from last year’s high”. 52% of companies globally will increase overall marketing spend this year, compared to 63% last year.
The Ad Agency of the future is coming, are you ready?
The ad agency of the future must “[meet] clients’ needs [which] have changed. They must manage marketing across devices and serve customized ads to specific audiences based on real-time analysis of constantly changing data. That data must inform creative, CRM and media buying strategies tied to new commerce and brand experiences. At the nexus of this confusing and continually evolving mashup of business operations and marketing are clients, who need a partner”
Expanding your LinkedIn influence
I’m an advocate of LinkedIn – it is the business network of choice. Expanding your network sometimes requires hints.
Pricing, or not talking about it
I’ve been working on price points – researching, testing, communicating, trialing, changing, communicating, and restarting the loop. I caught this interesting read on creating price points – and move to MRR and ARR for a startup.
5 Ways Brands Can Connect With Social Media Messaging
Interesting and worthwhile article I read lists these five points on brands being and staying social:
Participation is ‘the currency of the modern (consumer advertising) campaign’
Brian is unimpressed. Very. Why he asks …
Stop managing your pipeline and start managing your people
Andrew Adams talks about “… most companies spend[ing] too much time, money and energy on measuring and managing the pipeline rather than managing and improving the quality of leads that go into – and ultimately come out of – the pipeline” – a really valid point.
Having also making the point that “… the pipeline is a vital part of the sales process, it is also where the most fundamental mistake is made” it is always interesting to understand where a business places focus.
House of Genius