Tuesday, March 20, 2012

How to Get Past Voicemail & Email

1. Create interest fast. You have seven words in the subject line of your email to get it opened, one sentence to get it scanned and two sentences to get it read. You have to jump into the middle of the issue from the start.  A way to think about this technique is like a TV or film editor: Let's say you can start the scene with the character getting out of the car, or on the sidewalk, or at the front door ... or with the moment the front door opens. Most modern shows start the scene at the door opening–because that is when the action starts. Leave out the preamble in an email or voicemail and go straight to the issue so that the person doesn’t “save you for later.”

2. Create urgency for response. A number of things can create a reason for speed: the author, an expiration moment on a decision, or even a “negative option” that lets the recipient know that if you do not receive a response by a certain time you will be moving forward with a course of action. Too often people send out communication without a sense of timeliness of when a response is needed. The receiver puts the communication into “things to do later” and later never comes.

3. Make bite-size decision or action requests. Voicemail and email are good for an action request, but not for laying out detailed plans. When you reach a digital demon, don’t tell a story; make a clear ask for a clear reason in a specific time frame.  This has a much greater chance of being understood and acted upon than a string of requests and actions left in a message.

4. Leave context for later. In the same vein, do not leave long stories to provide context for your request. We have all received the three-minute story voicemail explaining all of the issues around the point being made. It is better to state what you need and offer to explain the particulars and details when you connect.

Taking this approach gives you one added benefit: a reputation among your contacts for fast, action-0riented messages. This increases the likelihood that your message gets first attention.

* Originally written by Tom Searcy
*I will add, don’t become pressure sellers unless that's what you want. Plus, don’t abuse it - me

Monday, March 12, 2012

Raising Money? Don't Get Ripped Off


These five tips can help you keep more of the investors' dollars in the company's coffers—and out of the lawyers' pockets.

Work with a True Venture Lawyer
Naturally, I am a little biased on this one! But in all seriousness, working with an attorney who specializes in start-up financing can go a very long way in reducing legal fees and deal friction.

Understand How the Investment Works
Any experienced entrepreneur will tell you that having a strong grasp on the deal mechanics will help facilitate a faster pitch process, term sheet signing, and closing. Take the time to understand exactly how the deal works. Lean on your lawyer to educate you on the critical investment terms, current market conditions, and closing logistics, so that you can become a well-equipped negotiator.

Find a Lead Investor
 With the wide variety of crowdfunding options available, it is true that you can mass-syndicate financing rounds a lot easier these days. However, having a strong lead investor helps create a natural momentum in the deal. You not only generate more excitement around the investment (the "social proof" that everyone talks about)—you also create a more efficient process. With a lead investor in place, you are more likely to avoid last-minute changes to the financing documents—and can more effectively goad the smaller investors into dropping minor negotiating points and simply going along with the proposed deal terms.

Stay Organized on Your Side—From Day One
 The biggest driver of legal fees in a financing is generally not the back and forth over the deal documents—it is the review and associated clean-up of the company's legal due-diligence materials. Your investors (and their lawyers) will have an extremely limited tolerance for untied loose ends, particularly with respect to your company's capitalization, corporate governance, and intellectual property ownership. There is often an urge to put off the legal housekeeping until funding. Bad idea.  Complete everything associated with formation at the time of formation. Keep your signed contracts in one place. Keep your counsel in the loop.

Over-Communicate with Your Lawyer
I cannot over-emphasize that last sentence. Your lawyer or lawyers need to stay well informed throughout the entire fundraising process. Failing to communicate with your lawyers will slow things down and allow potential problems to snowball. Keep your lawyer in the loop as you are pitching investors and debrief them on your progress. Bring up potential legal issues quickly so that your counsel can resolve them. An experienced venture lawyer has "seen it all"—they can help you identify and overcome potential deal hurdles.

* Originally written by another author
Tuesday, March 6, 2012

Should You Book Team Meetings to Brainstorm?


You see it in college, workplace the idea that you have to book a time to brainstorm as a group.  

"Any time people come together in a meeting, we’re not necessarily getting the best ideas; we’re just getting the ideas of the best talkers. If you’re a company that cares about getting the best suggestions from your employees, you need to think a lot more creatively about how to generate those ideas than just throwing people together in meetings."

"Both solitude and exchanging ideas are crucial catalysts to creativity and productivity. However, today’s emphasis on group work is so lopsided there’s little room for solitude. Plus we’re getting the way we do our group work wrong. Instead, we should be having casual café-style interactions, where people can bump into each other--the way Steve Jobs set up Pixar with its flexible open plan that encourages people to chat without interrupting the workflow. I think that’s great; I’m all for it. I’m not for work settings where people must sit in an office all day, never able to go off by themselves and where they come together in forced brainstorming meetings. That’s my issue."

"Gregory Berns, an Emory University neuroscientist, found that when people take a stand that’s different from that of the group, they have heightened activity in their amygdala, the part of the brain that’s sensitive to rejection. Berns calls this the “pain of independence.” So yes, encouraging conflict and debate moves people away from a herd-like mentality, but there’s a price as well, which is why I advocate having the most casual interactions possible, as opposed to formal meetings." Susan Cain

* Originally written by another author
Saturday, March 3, 2012

CRM is for Relationships Not Random Blast of Your Ads.


Everyday I receive so many email from companies pitching their products, or offering discount or sending me info they also sent one million others. All this technology, information and digital interactions is eventually leading to a world of just noise. 

Everyone trying to scream louder than the other. 'Hey look at me. My product will make you attractive to girls. My product makes you look 20 years younger.'    Everyone seems to abuse it because it's so cheap and low to no consequences. 

I believe we will one day yearn desperately for simpler times.  The future rarest talent will be human relationship builders, I believe within 5 years we will have a 2nd Internet (only selective people and groups will be allowed to use it. Plus, more secured.  Which I call "SUIT", Selective User Information Technology. A way to keep out spammers or nasty stuff.

It's time to put down iPhones, Blackberries, Samsungs  and take the time to work on a relationship without relying on technology to do it.  People sitting around expecting others to initiate interaction, or not following up to encounters could miss out.  Invest in your relationships. Pick up a phone and invite someone out for just drinks. Do something human.

"CRM is more than milking a mailing list, it’s managing a relationship—and managing a relationship requires communicating the appropriate things in the appropriate way to the appropriate people, not hectoring your most loyal fans. A good CRM program should be based on consideration, not exploitation."

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