19 Year Old To Buy Out Digg
January 27, 2008
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Ok, so Big Brother contestant Liam Young, 19, may not have gone so far as to say he was going to buy out Digg. But some of his entrepreneurial claims have sparked a witchhunt among members of Digital Point Forums. You can check out the thread here.
Liam claims that he started Oxy-Uk, his web design and hosting company when he was 8. By the age of 16, he employed 12 people and now has a turnover of £250,000. But, Digital Point members suggest that Liam has exaggerated his success and they point out many holes in his story.
So what if he exaggerated? He hasn’t done anything to harm anyone - he is simply promoting his business in the best light possible. Lets face it, people go into the Big Brother House in hope of publicity and fame; and a modest wallflower just isn’t going to make it.
Have you ever exaggerated in business? I’ll be the first to admit that I have, and I know many others who have too. And if you want to market your business effectively and get a heap of free PR, you need to tell a story that will stand out.
Which Of The Following Claims Would Be More Likely To Get Your Attention?
A) Coffee House Sells Out Of Special Ingredient Coffee on First Day Of Trading; And Sets Up Waiting List For Addicted Customers.
B) Coffee House Sells 40 Cups Of Coffee on First Day Of Trading.
A) Our Cakes Are Made Using A Secret 200 Year Old Recipe - Known Only To Our Chef.
B) Our Cakes Are Made With A Delia Smith Recipe - We Just Add Extra Nutmeg.
A) Local Entrepreneur Launches Business After Overcoming Severe Alcohol and Gambling Addiction.
B) Local Man Launches New Business After Cutting Down on Bingo and Trips To The Pub.
A) Hordes of Customers Travel 200 Miles To Eat The Best Curry They Ever Tasted.
B) Yorkshire Businessman Always Visits This Curry House When He’s In Plymouth on Business. It’s The Best He’s Ever Tasted.
A) Aftershave Company Issues Press Release After Man Threatens To Sue. They Deny Using Addictive Ingredient Which Caused The Man To Be Mobbed By Women.
B) Aftershave Company Claims That Men Get More Dates, After Using Their New Product.
So what would you rather do? Hang out in Digital Point forum complaining because you feel that someone has exaggerated their success. Or create your own success story, and exaggerate a little to make sure it’s something the world wants to hear?
10 Things You Should Never Say To An Entrepreneur
January 26, 2008
People who want to start a business often seek the advice of an experienced entrepreneur. But make sure you think before you speak. There are some things you should never say to an entrepreneur. And here are 10 of the dumbest ones I ever heard:
1) I wish I was as lucky as you.
2) I want to start a business - when I get time.
3) So, what would you have done instead, if you’d worked hard at school?
4) Just think how much better your business would be if you had an MBA.
5) It’s easy for you - you can do it full-time; I still have my day job.
6) I thought about doing that. But, I decided to do something more mentally challenging instead.
7) It’s ok for you - it was easier when you started out.
So, what’s the quickest way to get rich? I’m aiming at 3 to 4 months.
9) I’d like to own a business but I’m not ruthless enough.
10) I want to do what you did. Lend me a million to get me started.
Has anyone said any of these to you? Can you think of any more dumb things you should never say to an entrepreneur?
3 Business Ideas To Die For
January 25, 2008
Death is big business. It’s never going to go out of fashion. And demand isn’t affected by recession. So, if you can stomach it, death is a profitable business to be in. And there are quite a few opportunities out there, including these ones:
Crime Scene Clean Ups: If there’s a lot of murders in your area, you’ve got it made. But, you don’t need to rely on killers to bring you a fair bit of trade. This Atlanta based business provides many additional services including suicide clean up, urine and faeces clean up and unattended death clean up.
Pros: Fairly low set up costs which would include specialist chemicals, protective clothing and a van. Little competition - plus in many cases, the costs of the clean up would be covered by insurers; so no need to worry about the customer not being around to cough up.
Cons: You may have trouble retaining staff. I wanted to add this service in my last business, but my staff were dead against the idea.
After Funeral Gatherings: In some places funeral parties seem to be getting as big as weddings. This company here arranges extravagent after funeral parties, providing catering, limos, bagpipes and even chocolate fountains.
Pros: Low start up costs - you just co-ordinate everything and outsource the catering, limos etc. You could even provide additional services such as weddings. Just make sure you keep things dignified and have a seperate landing page on your website for the funerals, unlike the company above.
Cons: You will be relying on other businesses to be available at short notice. This may be difficult, as such events aren’t planned too far in advance.
Funeral Keepsakes: These are a bit like wedding favours, only you give them out to funeral goers.
Pros: You could tie this business in with one of the others - for example the after funeral parties. And you should have no problem finding suppliers, as most wedding favour wholesalers are likely to have something that could be used for funerals too.
Cons: Again, you will be relying on suppliers. And because these orders will need to be sent out quickly, you’ll need to find a reputable supplier who can dropship; unless you are able to invest in quite a bit of stock yourself.
Do any of these businesses appeal to you. Can you think of other potential services that would cater to the dead?
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Are You A Zoner Who Speaks To Aardvaark’s?
January 24, 2008
Effective communication is important in business. Get it wrong and you could have a disaster on your hands.
Here’s a few common communication mistakes you must avoid; and a few tips on how to deal with some of the worst communicators on the planet.
Do You Think Aardvaark’s Speak? Do you speak as though you chowed a thesaurus? If so, you might as well be having a conversation with an Aardvaark, because they can’t talk back either.
And you’d have to be pretty dumb not to want the other person to understand you right? So, in conversation, or letters, avoid the use of long unnecessary words. And always watch for signs that the other person understands what you have said. If not repeat the question so it’s easier to understand; and don’t be condescending.
How To Deal With Aardvaark Speakers:
a) Stop them at the regular intervals and ask them to explain what they’ve just said in simple terms.
b) Apologise for not being bilingual.
c) Try this: One anonymous man was tired of a group of Aardvaark speakers who littered conversations with “big words” and quoted huge paragraphs from obscure books; so he came up with a plan.
At their next meeting - he spoke to the Aardvaark Speakers in a secret language. He simply made up words himself, and they nodded in agreement and delighted at his every word. Then he quoted a book, which he’d made up too, and asked them if they’d read it. And the Aardvaark speakers loved this book. Best thing they’d read all year.
I don’t know how he kept a straight face. Aren’t Aardvaark speakers the dumbest people you ever met?
Are You A Spamalot? Do you send people emails, when you really don’t have anything to say? If you’re a lover of the send key; consider whether you’d bother typing the same letter and mailing it. If not, resist the temptation. Nobody wants to turn email reading into their full-time job.
How to Deal With Spamalots:
a) Just don’t reply at all.
b) Send them a blank email in response.
c) Go to the Guttenberg Project and copy and paste a huge chunk of “On Nothing and Kindred Subjects”; in your response and hit send.
Are You The Fat Controller? Do you put PLEASE RESPOND BY RETURN at the end of all your letters? If so, do you ever stop to consider how insulted the recipient might feel? After all, if it was important, you would have called them wouldn’t you?
The fact is, most people prioritise, so they can work out how urgent your letter is for themselves. And if you do this often enough - you might wind up at the bottom of the pile, or worse still, in the trash.
Dealing With Fat Controllers:
a) Put the letter in the trash.
b) Call them straight away and ask why they need your response so urgently.
c) Respond with a letter asking 10 questions related to their original letter and ask them to respond by return.
Are You A Zoner: Remember, listening is just important as speaking. Otherwise, it wouldn’t be called a conversation - it would be called a speech. Always pay attention to what the other person is saying. And show them you understand by paraphrasing (repeating back in your own words) what they just said.
And don’t, whatever you do fall asleep. Believe it or not, I know a guy who regularly falls asleep in meetings, then wakes up just in time to give his own pre-prepared speech. How useful is that?
How To Deal With Zoners:
a) End the conversation abruptly - there’s no point speaking to someone who isn’t listening.
b) Make them speak instead. Keep asking if they understand. And ask them question after question on the topic you’re discussing. This should force them to concentrate.
c) If they’re falling asleep in a meeting, in an extra loud voice, tell them you hope the meeting isn’t disturbing their nap.
Do you know any Aardvaark Speakers, Spamalots, Fat Controllers, or Zoners. How do you deal with them?
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