Abby June Richards
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People Don't Buy What You Do, They Buy Why You Do It

11/30/2014

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It's fascinating to learn about why we make the decisions that we do (hint: they aren't as rational as you might think), but even more pertinent to the business person hoping to entice a potential customer to buy a product. Simon Senek came up with the idea of the golden circle, and it applies to your company, according to the guys over at Human Design, John Weiss and Matt Null. They did us the favor of presenting on the subject of design at the Startup Bootcamp at SXSW Eco back in October.

The golden circle is this idea that most companies start with the what "we have widgets", move to the how "we make our widgets with superior features", then skim over the why "you should buy them". According to Simon, starting with the "why" and moving to "what" will deliver superior results every time. Appealing to your customers' beliefs then explaining the product benefits encourages them to rationalize the purchase for themselves.

John and Matt emphasized storytelling, and the idea that design is a conversation. What is the story of your organization, and how should you tell it? You should communicate in terms of identity and who your customers want to be.


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Evan Loomis Talks Raising Capital

11/23/2014

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The Austin Lean Startup Circle and Capital Factory hosted Evan Loomis (LinkedIn) this past week to teach entrepreneurs about pitching to venture capitalists and other investors. He shared with us some lessons and ideas for growth as business owners as well as people. Here is what I took away.

In your pitch deck, it is important to communicate your ideas clearly and concisely. No one should have to sit and read a slide for a full minute just to understand what it is trying to communicate. Share your work with friends who aren't in the biz, and make sure they get it within just a few seconds.

It's also important to know who your target is. Different groups may require different information. It will be different pitching to your uncle as opposed to a venture capitalist. With one, you are already friends, and with the other, you're trying to make friends. Evan stressed that it is not difficult to access people; what is difficult is starting a real relationship with them. In a meeting, don't get so caught up in what you have to say and communicate. Realize that the one sitting across from you is a person, too.

Evan gave "luck" another name - surface area. When someone is hoping to meet the "right" people, it goes a long way to make more friends, outside your typical circle. Each new person you meet has the potential to connect you with the people you really need. 

He had some other (my words) quick and dirty tips:
  • Investors aren't interested in your ideas. They are interested in scalable models.
  • Take improv classes to improve your read on other people and your ability to think on your feet.
  • Order nice business note cards to send as thank you's, with a gift, or to follow up.
  • When you're on the road, increase your quantity of contacts, as well as diversity (this goes back to surface area).
  • Try taking a sip of water after the "ask" - it keeps you from babbling and gives them time to think and respond.

For my clients, I was curious about financial statements and what an investor would be expecting. According to Evan, the investor may not need to see those statements, but they need to exist, and the entrepreneur should be familiar enough with the numbers to be able to have a conversation about them. As far which one is most important - Statement of Cash Flows wins.

For me, Evan's biggest challenge to us was to be authentic and put our hearts into the process, treating people like we'd want to be treated. Mistakes are inevitable; it's how you recover from them that matters.
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Jeffrey Biles on Freelancing

11/17/2014

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Jeffrey Biles is a freelance programmer and author of Math Monsters, a game-changing new math curriculum. He chatted with me about his project; now here is a little on his freelance career. This interview has been edited for length and clarity.

Me: Let's talk about you. What is your background? How did you land here?

Jeffrey: Growing up, I chose my own curriculum, and I always had an interest in making games. When I got the idea for the math game four and a half years ago, I started gathering resources to make it possible.

Me: What's your typical day?

Jeffrey: Yesterday, I went to a meeting with some business coaches, and realized that people want curriculum, not games. I spent a few hours trying to work through that. I went to yoga, then spent the rest of the night programming. It seems like the more customer-facing tasks I have, the more programming I do at night.

Me: I want to talk about freelancing. Have you ever had a traditional job?

Jeffrey: I've been with two consultancies and one startup. The closest would be when I was with a startup for 13 months and they were paying me the entire time.

Me: How did you manage to avoid that?

Jeffrey: I had a little bit of money left over from scholarships when I graduated, and I was able to hold out and built my skills. It's been a huge privilege for me to be able to work the way I do, and I know not everyone is in that position. I'm going to take advantage of that, and not settle for something where I'm less effective. There are definitely situations where people need to work in a more traditional job, or work better that way. I don't want to knock them.

Me: I am hoping to show people how to do what you're doing.

Jeffrey: First, if you have any privileges, that's great; take advantage of them. Obviously, society isn't fair - any unfairness you have stacked your way, take advantage of it, and use it to help other people. Live frugally. For a while, my rent was $200. I went a year without a paycheck after graduating. I ate a lot of rice and beans. 

Then, I moved to a country that had a low cost of living when I had my first job, in Medellin, Columbia. I could live the high life for not a lot of money. I was working about 25 billable hours, plus educating myself, plus learning Spanish, plus administrative. It was about 55 hours a week to get paid for 25. But I came back from Columbia with more money than I left. 

I would say, learn a valuable skill. When I had the idea for making a game, I didn't say, "Let me go find venture capitalists, an artist, and programmers who will make my idea for me." No one will listen to someone with just an idea, and they won't give that person cash or their valuable work time-- especially if that person is 21! Learn a valuable skill, preferably one that will help you follow your dreams and help support you while you create something. For me, it's programming.

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    I am an aspiring CPA who cares about income equality, sustainability, and chasing dreams, living in Austin, Texas.

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