google

Too big to fail? Too small to win?

by Travis Ketchum · 0 comments

When talking with other entrepreneurs, far too many say something along the lines of “we are too small to compete with the big guys”. The general mentality is that the competition is just so large and so strong that there is no logical way for them to fall 2nd place to a hungry and innovative start-up. As evidenced by the banking crisis and others, being “too big to fail” is certainly far from the truth as the banking system in the United States is on welfare as far as I am concerned.

Think Google just got lucky? When they originally launched there were at least 5 established search engines available on across the web who had saturated market share, and the appearance of being unstoppable. Remember Altavista? The reason that Google is dominating the market right now wasn’t because of some mysterious series of windfalls, but rather BECAUSE they were small.

How can being small be an advantage?

Being a small and “hungry” company gives you the advantage of compounding innovation. Think about how long it takes these giant companies to roll out any meaningful changes, shifts in policy or new products. By being a small company you are able to test your product in a more meaningful way, produce useful changes at a speed that very few companies have the opportunity to do. This pace of innovation over time can show a drastic difference between the quality of a product (especially in software) over even 6 months time.

So as Steve Jobs says “stay hungry, stay foolish” but most importantly use your unique ability to compound innovation against the big guys and stop thinking that being small is a downfall. The process of building something is what should be getting you excited to get up in the morning, and what will ultimately lead you to the success you are after.

It’s Always the Story

by Travis Ketchum · 0 comments

I am sure many of you have seen the Google commercial that aired during the super bowl, and was actually part of their “Search Stories” that they had created back in the fall of 2009. If you haven’t seen the video, here it is:

The particularly interesting thing about this commercial is that Google was able to evoke a sense of emotion simply from search queries and Google maps. They understand that when you take data like that you can tell a lot about someones life, but more importantly it took what was simply a service and brought out emotion towards their brands and products that most people had never felt before. This type of story telling is exactly what will help Google remain as a top of mind company and allude to the “Don’t be evil” mantra that Steve Jobs calls bullshit.

So what does this have to do with your business or start-up? If you have ever listened to a venture capitalist talk about why they invest in some companies but not others, no one has made it as clear as Y-Combinator has that they don’t invest in businesses but they actually just invest in people.

Why invest in people?

I have always said that “When you invest in people, you will always have a positive ROI”. This is not only because of the positive social effects that stem from investing in one another but also because when there is an exceptional story there will be exceptional success. The best founders and co-founders make a team that has an ability to tell a story through their product or service. The notorious PayPal founders have been absolute rock-stars within the tech start-ups and will continue to do so because they have cultivated their purple cow.

Once you understand how to tell your story in a way that not only adds value to your user base, but that actually connects with them in a meaningful way you are going to be able to build a loyal user group that will carry you to your end goal. We as consumers purchase content, use products and connect with people because it genuinely makes our lives better. Our life is the story, just make sure that you are at least a chapter or two in order to achieve your goals.

Coincidentally Google launched a “Search Stories Creator” that is pretty slick and easy to use. I gave it a go with creating my own search story for MyBigGive which is currently up for a grant from Pepsi Refresh Everything.

If you want more things like this, I am going to start sending out special posts through my newsletter which also comes with a free 7 week business builder course that will hopefully help you create more meaningful connections with your customers and reach the goals that I know every ambitious entrepreneur has. So go ahead and sign up in the sidebar!