Living on a shoestring
I’ve set myself a new challenge. A $25 per week budget.
Seems low, and it is, but there’s a lot you can do with $25, so Jil (my partner) and I decided to test it out. We’ve set aside $25 each per week for ‘entertainment’ and non essential costs. Of course we’ll still buy the essentials, like food, housing, fuel, etc, our $25 a week is simply ‘good time’ money – which doesn’t cover much of a ‘good time’ if you’re used to drinking wine and eaten out a lot.
There is an upside… thankfully. We’re utilizing what’s free and beautiful about Auckland, and that’s the outdoors. Our new outdoors plan is broken down into one activity a weekend, be it Kayaking, Surfing, Hiking or Mountain biking. And seeing as we have all the gear anyway, it doesn’t cost us anything… other than petrol.
It’s not glamourous, but it has a purpose. We want a 6 month expenses retainer. Basically, what that means is If for some reason I can’t work (for up to 6 months), we don’t need to worry about outgoing expenses. We have a retainer safely tucked away. This also means we can start targeting more aggressive investments without being as worried about ‘throwing the baby out with the bath water.’
Two Hours Is All It Takes
To completely clear your mind.
As of lately, I’ve been experimenting in the forest… hiking that is. Having had a lot on my mind, going for a Hike seemed like the perfect escape from my day-to-day life.
If you know Auckland, you’ll know that the Waitakere ranges are only a short drive from the CBD – and only 20 minutes from my house, taking a few short cuts when able.
The forest has an amazing ability to wash away the stress from your life. The green of the leaves, the smell of the air and the sound of nothing just works. Clarity is key, but it isn’t easy to find, or quick to achieve. It took me a good two hours last week (with my son, pictured below) and another two hours the Sunday before, by myself, in the mud (which wasn’t planned!)
I can’t recommend hiking enough. It’s free, refreshing and brings you back to reality quicker than a movie or a visit to the mall.
Just Do It
Stop moaning. It doesn’t help. Everyday I remind myself to ‘Just do it’.
One Thing About Marketing Strategy
I wanted to learn more about marketing strategies, so it was recommended I listen to John Jantsch’s Podcast (Duct tape Marketing) on Marketing Strategy. Below are some points that really stuck out for me.
John defines marketing as getting someone who has a need to know, like and trust you. He continues by explaining that the essence of a marketing strategy is about why a business does something, rather than what or how the business does something.
The most effective marketing strategies are really about who you’re being, who the companies being, who the people at the company are being, the unique things they’re doing and their unique story.
Businesses inspire by telling stories, by communicating the WHY.
When looking at the marketing strategy for your business, spend some time really minding this idea of why you do what you do, or why the business exists.
In his Podcast, John uses Zappos as a good example. Zappos is about creating customer happiness, who just happen to sell apparel. I thought I’d share a video I found about their company culture and values.
Zappos ‘gets this’ and for that reason, enjoy the highest level of customer & staff loyalty. Simple because they focus on why they do what they do.
Good luck, and remember:
- Marketing strategy is about why a business does something
- Clearly define your single minded purpose
- Create the marketing strategy before creating the tactics
How To Sell An Idea
So, you’ve got an idea you want to sell? Fantastic! Now comes the tough part.
It’s all about the framework. Selling ideas is no more difficult than selling a product. The key to selling an idea is articulating it well, communicating the thinking behind the idea and how it can help the people you sell it to.
The following 7 steps should help guide you in selling your idea, to anyone, from anywhere.
Step one: Research
Before you can sell your idea you need to develop a strong understanding of how your idea will benefit the company you are pitching to.
Step two: Problems
What problem does your idea solve? How does this fit with the company you are
selling to?
The goal here is to sympathise with your audience. You know they have a problem and
you are passionate about helping them solve it
Step three: Show you’re thinking
Generally, great ideas don’t just happen, they surface as a result of applied thinking. Before you unleash your idea on your audience you need to show them the thinking behind it.
A good way to communicate this is provide an OIIC for the idea- Objective, Issue, Insight, Challenge.
Step four: Your idea in less than 10 words
If people only remember one thing from your presentation, this is what you want it to be.
Step five: The details
Prove how the idea works by stepping your audience through the detail. If you’re idea is complex, show some reference or examples of a similar idea (but not the same) being done previously.
Step six: Making it happen
An idea is only an idea if it can be executed. Show your thinking around what is required for your idea to be brought to life. Consider resource and support required and time to produce it.
The do not’s:
Don’t talk about money in your first meeting. Don’t take any more than 20 minutes to present your idea.
Unfortunately, I can’t claim this post as my own. I can, however, pay tribute to Daniel Phillips who is our resident idea executer. Thanks for letting me share a snippet of your ‘How to Sell An Idea’ PDF – which will be available soon.
What’s Your Digital Strategy?
It’s a question I never really asked myself, that was until I started working with the team at Young & Shand a couple of weeks ago.
Having always (for the last several years) enjoyed the online space, it seemed like the natural next step for me to work with a Digital Agency. But, like any good move forward, I’ve been thrown into a fast and steep learning curve – Only bringing to my attention how little I actually knew about online marketing – which was a harsh reality check! But oh well, like the old saying goes ‘You know what you know, but you don’t know what you don’t know.’ More to come on this quote in a later post.
For those that don’t know, Young and Shand is a Digital Marketing Agency based out of Auckland, NZ – serving clients NZ wide and Internationally. In it’s most simple form a Digital Marketing Agency is a lot like a regular advertising agency, except we only do digital – think Facebook, Google, viral videos, banners and websites too. But unlike traditional agency’s, we can track and measure your marketing success. Yay!
In less than 9 words, this is how we roll at Young and Shand:
Over the coming months, I’m preparing myself for what can only be called ‘A digital wave of Armishaw destruction’ for my unsuspecting clients and future prospects (in a good way, of course!)
And You Thought It Was Easy? Hah!
Money for nothing (and your ‘Chile’ for free)
I can’t imagine any entrepreneur who doesn’t want a whack of cash to kick-start their business. Ideally you’d want ‘money for nothing’ (without giving away any equity) – but this rarely happens. Well, that’s not the case anymore…
Introducing Startup Chile. Their goal: to become the entrepreneurial and innovation hub of Latin America by 2020.
Start-Up Chile is a groundbreaking initiative of the Chilean Government, that seeks to attract foreign, high-potential entrepreneurs to come to Chile to bootstrap their businesses with the intention of developing Chile into the innovative business hub of Latin America.
In 2010, the program brought 23 teams from 14 different countries, providing them with a $40,000 subsidy to last for six months, and a temporary visa to develop their projects along with access to the most potent social and capital networks in the country.
These selected entrepreneurs must pass through a rigorous examination process conducted by Silicon Valley experts and a Chilean Innovation board that focuses ardently on global mindsets and worldwide potential. The projects vary widely with teams specializing in energy, e-commerce, social endeavors, design, etc. Of all required criteria, it is essential that the entrepreneurs’ projects are conceived with a global mindset, believing that the route to success is via expansion not isolation.
The second application round will open July 5th, 2011. If you make the cut, you’ll receive:
- $40,000 – No Equity taken
- One year working visa for you and your family
- Access to the most potent social and capital networks in the country
- Access to a local mentor network
- Bootstrapping abroad experience
- Working in a collaborative and multicultural work space
- Office space with Internet access
- Relocation assistance
All of the Start-Up Chile participants are measured during their time in the program by various indicators including participation in local events, presenting workshops on their particular expertise, raising local or international capital, and hiring local talent. Unlike any other initiative in the world, Start-Up Chile has garnered impressive international recognition ranging from Forbes to Bloomberg to TechCrunch and has inspired spinoffs in such nations as the United States (Startup America) and the United Kingdom (Startup Britain).
If you’ve got an idea – any idea – and you don’t mind spending a year abroad doing something you’ll probably be doing anyway (at home broke!) I suggest you contact Brenna Loury, head of communications for a full break down on whats to come. Good luck!
My excuse…. Jacob
Who’s Jacob? He’s my son, born just over 3 weeks ago. He’s amazing! I’m completely smitten (and ridiculously tired!)
If you’ve wondered why my blogging has dropped off, here’s your reason. It’s Jacob. He’s been keeping me crazy busy. I haven’t had time for much else – other than eating and the occasionally shower. But enough is enough, I’ve had my 4 weeks off, it’s time to get back into it. From now on I’ll be blogging fortnightly – starting this week.
Here’s a pic of me and my boy. Amazing huh?
Love It or Hate It; The Gym Doesn’t Lie
Exercise is one of those things. You either love it, or you hate it. It’s either easy, or it isn’t.
The more and more I think about it, the more I believe it’s true. That is: How you perform during physical activity is a reflection of how you perform during mental activity.
During a Bikram Yoga 30 Day Challenge, I realised my own limitations. Everyday I went along to Bikram, and everyday was a struggle – not physically (as I was probably in the best shape of my life), but mentally. About 15 days into my 30 day challenge I had (what I’m stoked to say was) my first epiphany! How I performed during Bikram Yoga was a direct reflection of my work life outside of Yoga. At that moment in time I was a quitter! When the going got tough, I’d quit – completely justified in my own mind. I was physically strong, but mentally weak.
As it turned out, I wasn’t alone. I started to see this same problem everywhere.
You can tell a lot about a person by the way they exercise. I’ve seen overweight people smash through intense exercises that ‘Joe fitness’ just couldn’t keep up with. I’ve witnessed (mentally) hard working mates ‘try’ out fitness and clean up because they were mentally strong.
Love it or hate it, the gym doesn’t lie. You are as physically fit as you are mentally fit.
“Energy and persistence conquer all things”. -Benjamin Franklin
