Do More Faster a Book Recommendation

Business and Entrepreneurship Books
I do not recommend many business books on my site. Like everyone else I have limited time and I like to know that I am going to learn something from the book. I have business and entrepreneurship books that fill a bookcase and were collected over time. I would not call it a “collection” as no one would ever want my copies which have been read, lent to others, dog eared, written in, highlighted and otherwise been read and re-read.

Learn from Others
My point is that I believe if you ever get a chance to work with someone that has years of experience and insight you should take it. The second best alternative is to read what those individuals right. Blogs are great to follow what they are doing and obtain advice, however a book written by one of these individuals is gold as they have taken the time to put a book together which is no easy task. There are books published constantly, I always like to know who the author is. The author has to be someone with experience and has “been there, done that” otherwise you are wasting your time.

The last book I recommended was Getting to Plan B: Breaking Through to a Better Business Model by Randy Komisar of Kleiner Perkins. As to my earlier comment, when I was part of a startup in Silicon Valley I presented monthly to the board, all of those individuals had “been there done that” and are some of the most, if not the most experienced venture capital, start-up and accomplished individuals in their respective industries. That was half the reason I joined a startup pre-funding and moved to Silicon Valley for a number of years, knowing I could learn from the best. One of the individuals there was Randy Komisar and through my monthly limited interaction I learned an amazing amount from Mr. Komisar and the others. I highly recommend his book above. Now on to this recommendation.

Brad Feld and David Cohen
do more fasterI suggested you work with those you can learn from, and if you cannot work with them (either on your board or as a mentor) you read what they right. One of my favorite blogs is Feld Thoughts by Brad Feld. He is a venture capitalist and managing director at Foundry Group. However what I find most interesting, and the focus of this book, is his work with TechStars that he and David Cohen founded in 2006. TechStars is a three month mentorship driven seed program. They fund Ten companies every year. Mr. Feld has four years of experience running this program as does Mr. Cohen. So here is a book written by them, having both venture capital experience (on-going) and seed company experience (10 new ones every year, over four years is 40 companies). This is an individual you want to hear from. I just ordered the book, here is some information about it. This video is taken from their site Do More Faster where you can learn more about the book, or just go to Amazon, Barnes & Noble etc. to order a copy.

Video From the Authors









Venture Capital in October

VC in October
Of all the months this year, 2010, I was surprised by the fundings in October. There were quite a bit of interesting fundings. Interesting to me because there were a good number of fundings in the online and new media space. Here are a few and some of these are the typical online models that have been raising capital for years. Others are similar to other current and seem to be profitable business models.

October Startups
Travel Ad Networks : An advertising network that aggregates travel sites as publishers and allows advertisers to reach them.

SkillSlate : Find individuals to do your work in New York, think Angies List for New York.

Buddy Media : a social media platform and software to manage your social world.

Venture Capital
Find more vc fundings at Venture Capital Update.

SSL Certificates

SSL Certificates
What is an SSL certificate you ask? First of all SSL stands for Secure Socket Layer, which is part of the technical explanation. To the end user of a website it means the information they provide to the site is secure. There is the technical side and the business related site.

GoDaddy SSL Certificate Coupon

FANSSL – 75% off SSL Certificates

Technicals of SSL Certificates
Secure transactions between a client and server across public lines is possible with SSL certificates. A third party authenticates the owner. The information passed between the browser and the web server is now encrypted.

Business Aspects of Certificates
To the end user, the visitor or customer, they want to know their information is secure. When a user goes to a website with a browser and a secure encrypted transmission has been established a security lock appears in the browser bar. This padlock icon lets the user know that their information is secure.

Learn more about the ssl certificate here.

Bad People Kill Your Company Good Ones Help It

Talented People
An article by Om Malik in Business Week entitled Silicon Valley and the Talent Crunch was forwarded to me by a friend and caught my eye. It is an interesting read about Silicon Valley and talent in the area. He points out that early stage investing made up 11% of the deals in Q3 of 2010 vs. only 1% in Q1 of 2010. There is also the mention of other larger companies scooping up talent and possibly paying more than market rate to obtain them. He also mentions a good team, in other words good talented people, make a business succeed. This is true , but they can also make you fail. I do not disagree with his points or conclusions but let me dive deeper based on my experiences.

Attract Good People and Keep Them
This is the key, attracting and keeping good people. Here are a couple things I have noticed.

Attracting Good People
When a start up looks for talent they typically reach out to everyone they know in the area, they also look to their investors for referrals and may try head hunters as well. Getting someone you know into the office for an interview is typically an easy sell as they already have a relationship with you. However getting someone into the office who you do not know, is a talented individual and probably already has a job is an entirely different proposition. You have to sell them, or the investors do, or the head hunter you are working with does.

Convert Good People for Your Team
I have seen too many good individuals be turned off by a lack of follow through or a well thought out interview process. If you are bringing in a potential COO or VP or this/that and the other thing, you should do more than simply sit them in an office and have them meet with the office manager or front desk personnel. Also be sure that whoever does interview them can actually interview someone. Interviewing someone does not mean the interviewer tells them about themself and then leaves. There are many resources on interviewing and do not allow it to be handed off to someone who cannot interview properly.

A small startup has no excuse for not having everyone interviewed by the CEO or another individual of the executive management team. Until the startup reaches a certain size the CEO should meet everyone. This is part of the sales process when attempting to recruit good talent. Everyone wants to hear the startups story and vision from the CEO, as well as who has invested and why.

If the CEO has done a good job of outlining their vision for the company the deal is not closed, assuming the business and CEO’s vision is a good one, and next the issue is the compensation package.

Compensation Package and Obtaining Talent
Many call it a compensation package because it is much more than a salary. An individual that has a high salary at a large company is probably going to be interested in a startup for many reasons. They want the excitement, more day to day responsibility, and the to be able to have a greater overall effect on the company. This means that items such as stock options or other equity vehicles will be more interesting as they can profit from their hard work. Therefore the additional responsibilities, equity, and feeling of making a difference make up the reasons why good talent will join a start-up.

Keep Good Talent
There are many ways to retain good talent. I will only point out one as I believe it is overlooked too often. That is that you must fire those that are not pulling their weight or doing their job. Please do follow the proper HR procedure and be sure to do it legally (that is my disclaimer). The issue is that if you release someone is not doing their job you probably realized it after their co-workers did. You need to address it immediately. Correct the problem, demote them, fire them, whatever is necessary to have them do their job and let others know that it is not acceptable. I have seen great people leave a company because they were upset after putting in their blood sweat and tears into the company they have to watch someone slack off, knowing that individual will profit eventually (hopefully) from their hard work. If you do not remove the bad apples the good talent will leave.

CEO is Responsible to Close the Good Talent
The term “close” is meant to mean the convincing of good talent to join the team and want to make the business succeed. This is ultimately the responsibility of the CEO who is to paint the vision, show their leadership and convince the good talent to join.

Reach 28 Percent of the Market with Yahoo and Microsoft

28% Market Reach
You can now reach 28% of the online searches through search engine marketing using the newly combined Yahoo and Microsoft. The stat comes from the recent search engine market share report by Comscore. They still split up the statistics between Yahoo and Microsoft even though the advertising platforms are merging. The reach is Yahoo at 16.7% and Microsoft at 11.2% making the combined total 27.9%. Assuming you can advertise to that audience through the platform that reaches both and you can get to 28% of the market through search engine marketing.

Facebook Patent for Locating You, Patent # 7,809,805

Facebook Patent
A patent was just issued to Facebook on October 5, 2010 entitled “Systems and methods for automatically locating web-based social network members“. My disclaimer is that I used to practice law and I was also a patent attorney, that being said none of my comments here are to be construed as legal rants or anything you would rely on, as a matter of fact do not ever rely on anything I ever say. Now here are my totally un-rely-able comments. In a nutshell the patent covers the ability for them, Facebook, to obtain your location via the GPS in your telephone and update their database with your location.

What Exactly Does this Patent Cover – How Narrow or Broad is It?
This is always the question most people ask, particularly other companies that fear they may be infringing on the patent. Every patent has multiple sections, such as a description. What matters are the Claims. Think of the claims as a verbal fence and each word has particular meaning. If what you are doing fits inside that verbal fence then you could be deemed as infringing. Of course Facebook would need to sue you or at least request you stop, whether they will enforce the patent and with whom remains to be seen.

Claim 1:

1. A method of sharing locations of users participating in a social networking service at a geographic location, the method executed by a computer system and comprising: receiving location information and status information from a mobile device of a first user of the social networking service, the location information representing a geographic location of the first user, the status information manually provided by the first user on an input module of the mobile device; associating the location information with the status information of the first user in a database; and sending the status information and the location information of the first user to a second user for display.

This is what is known as an Independent claim. In other words it stands alone. You can see that claim 2 has the words “the method of claim 1″ which narrows claim 1 and is more specific. Claim 1, 8 and 21 are the independent claims. Here is how claim 1 breaks down.

    A method of sharing locations of users participating in a social networking service at a geographic location, the method executed by a computer system and comprising:

  • receiving location information and status information from a mobile device of a first user of the social networking service, the location information representing a geographic location of the first user, the status information manually provided by the first user on an input module of the mobile device;
  • associating the location information with the status information of the first user in a database; and
  • sending the status information and the location information of the first user to a second user for display.

Notice the three bolded words, that is what is happening here: Receiving, Associating, Sending. Also note this is a Method claim, in other words it is the method or process that is covered. So you can loosely say this covers Receiving Location, Associating Location with a User and Sending to a Second User. Since it is a method the particular hardware does not matter.

Notice claim 8 covers the location being entered manually and not derived from the mobile device but from the input of a user.

They also cover issues such as privacy (in claim 3), the ability for a social network member to disallow certain people from viewing their location. It does not mean they will offer that, it just means they claim coverage to that aspect as well. They probably just added it to make people feel better knowing that would be a public relations issue, pretty smart on their part.

Claim 16 is my favorite, it is a dependent claim from 1. It states that one person can determine the location of another and also be told how close they are. Now if only person 1 knew that person 2 was querying their location and whether or not they had a fire arm or other pain and/or death inducing apparatus. That would really be helpful. Or let me know if any of the people are nearing my home address after querying my location, I would really like to know if they are going to rob me. As my business partner Chris Breshears has pointed out, location based services are going to be one of the best tools for criminals.

What Will Facebook Do?
This is the most interesting part, do they enforce it or not? That is an interesting question. Right now the validity of the patent can be protested. We do not know if anyone will take the time to protest it, however rest assured they will as their first defense if sued by Facebook. This may just be a an arrow in their quiver to ward off competitors.

Clickable Discusses Microsoft and Yahoo Search Alliance

Search Alliance
Clickable provides a PPC (pay per click) tool for online advertising. They announced a webcast to discuss the alliance between Microsoft and Yahoo search. This is a free webcast.

Date: October 13
Time: 2:00pm-3:00pm EST (11:00am-12:00pm) PST
Register Here

From Clickable:
What You’ll Learn:

* Overview of the Yahoo! and Microsoft Search Alliance and what it means
* Implications and benefits of the search alliance for advertisers
* Updates on feature differences between platforms

Expert Presenters:

Opening Remarks:

* Erik Suhonen, Director, Americas BD & Partnerships, Yahoo!

Presenters:

* Jon Mette, Senior Strategist, Search Optimization & Strategy, Yahoo!
* Lauren Hufnal, Account Executive, Search Agency Sales, Microsoft
* Chris Sanger, Director, Product Management, Yahoo!
* Shamit Patel, Product Manager, Microsoft

Clickable Host/Moderator:

* Max Kalehoff, VP Marketing, Clickable (moderator)

Top Video Sites with Highest Ad Revenue Will Surprise You

Who is Making the Video Advertising Money?
ComScore released their August 2010 U.S. Online Video Rankings and at first glance it is exactly what you would guess. Google had the most unique viewers and viewing sessions (due to YouTube), Facebook was second, then Yahoo! and all the usual suspects. However on the second chart they listed top properties by Video Ads Viewed.

Now this is more like it, personally I would prefer to be top on the Video Ads Viewed and bottom on the Content Views. Why? Because content views means overhead and high operational costs. Not necessarily, but more than likely, obviously you could put 10 ads per video and charge next to nothing for them and obtain the same result but for the most part there is a correlation between the most views and the highest operational costs. The most ads viewed are at Hulu, more below.

Top Ads in Video
Hulu topped the list with the most video ads. I have to say that I am assuming all things equal, meaning to make the leap that the site with the most ads viewed is making the most revenue means you have to believe they are all selling the same percentage of inventory and all selling at the same price point. Also note that Comscore states this list only includes streaming-video advertising and not overlays, branded players, matching banner ads around the player etc.

Top was Hulu, second was the BrightRoll Video Network which is not a site but a network as is number three Tremor Media Video Network, therefore the second was Microsoft (sites), then Google (sites) Break Media Network and others. It is interesting that Hulu was not on the first list, probably because they have longer form video such as shows or movies, but they do have short clips. Also interesting to see the Break Media Network which owns it’s sites was so high on the ads viewed list compared to others. They obviously sell their inventory well. Also interesting that Facebook was on the most viewed list but not the most ads viewed, so you could infer they are showing clips but not monetizing well.

This list goes to show that it is not always the largest sites or those with the most users that generate the most revenue.