The Top 10 Changes In My Business Thinking

Five years ago, my views on business were very very different than they are today. So I thought for an appropriate last post, I would examine the top 10 things about business that I view differently than I did 5 years ago. I am not saying these are gospel, or even that they are correct. I think absolutism is a sign of closed mindedness and that any intelligent person should always be adjusting their views slightly in light of new evidence and changing times. Five years from now, I will probably read this post and think that I was wrong about some of these. Nonetheless, this is where my mind stands today.

10. Luck Matters
Five years ago, I would have said success was mostly skill and effort, but in the past five years I have met countless bright hard working entrepreneurs who didn’t get the right break. I have also met a few no talent hacks who got lucky. In general, I think a small percentage of highly successful people are just lucky and not talented. Most are both talented and lucky, and a few were just so super talented they didn’t need luck. Call it a bell curve. Talent and hard work will put you in a good position, but to get to the upper echelons of success, I think most of us need some good luck and timing.

9. Touchy Feely vs. Analytical
I used to be very “Fast Company” in my approach to business. I believed it was all about the soft stuff. The key to success was making employees happy and having some crazy Google-like workspace. There is still some truth to that, but now I lean heavily on the economics of an industry for success. It is soooo much easier to be successful in a business with good economics, even if you make some mistakes, than in an industry with lousy economics but a hip fun workplace. For entrepreneurs, I think the key approach should be to look for opportunities in markets where the economics are changing.

8. Beware of the Hype
I used to be in awe of people who got a lot of publicity. My first smack in the face came when a PR company called me for a business launch and had written a quote for me. They wanted me to approve the quote. So that’s how the game works eh? Since then, I have a love-hate relationship with PR. I realize it is important to stay “top of mind,” but at the same time, it is so contrived and artificial most of the time that I hate to be a part of it. The lesson here is that when you see someone sitting on a panel at a conference, when you see them get an article published in a magazine or newspaper, when you see them cited as an industry leader, that doesn’t really mean you should listen to them or that they have any idea what they are talking about. Do your own research and ask them tough questions. Don’t base your awe of them on their aphorisms.

7. It is Always Easy to See What You Want to See
It took me almost 2 years to find a financial partner for my first business. Then a few months into it, I realized the margins would never be what I wanted them to be. Dozens of people told me why it wouldn’t work (lousy industry economics, primarily) but I didn’t listen. It was sexy and cool, and I wanted to be sexy and cool to. I saw what I wanted to see. I didn’t listen.

The problem is that when you are doing new things, people are almost always critical. So how do you know when to listen to them and when to ignore them? I don’t have a good answer to that, but I know that every day I ask myself if there is evidence that my views are wrong on this or that.

For instance, I am convinced that top level aggregation of local information is the wrong approach to local web media, yet that is what almost everybody is doing. Instead, I believe you need to take the mass customization approach - a backend that aggregates, but a bunch of front-ends that are unique to each city. I don’t see any evidence that this is wrong, but it keeps me up some nights wondering why I am only aware of 2 companies that are taking my approach, and 200 that are taking the opposite approach.

6. Do Stuff
I used to plan and talk, plan and talk, plan and talk. I’m not criticizing planning or talking… they can be beneficial, but now I prefer to do something instead of talking. Your plans will probably be wrong on anything that is new, so you may as well just start doing. Doing stuff gives you a better “feel” for a business than all the planning in the world. Plus, once you get labeled as a doer, everybody wants to work with you because they have all been burned by planners and talkers. Of course, doing takes a lot more time. It’s also much harder. And once you adopt the doing mentality, you risk doing stuff just for the sake of doing stuff, but action for action’s sake is sometimes the wrong approach.

5. Failure Doesn’t Really Matter
It is embarrassing to fail. We all wish we could string together a bunch of wins. I used to be concerned about looking stupid, or dealing with the criticism that can come with failure, and while I won’t say I like it and embrace it, I will say that it doesn’t bother me nearly as much as it used to. One reason for that is many “failures” are only temporary setbacks, and if you don’t let them scare you and demoralize you, they can be turned into wins. The second reason is that failure is almost always a great learning experience, and you can charge valuable consulting fees by finding companies who want to get into a space and selling them the more efficient learning curve they can get by avoiding the mistakes you have already made.

4. Find Your People
Search is the key process you need to master. I used to think that I needed to be more persuasive. I thought the key to raising money, hiring good people, or selling a lot of whatever it is I was selling was to learn how to convince skeptics. No. Spend your time finding investors who are looking for ideas like yours instead of convincing investors who don’t care that they should listen to you. Spend time finding employees who believe in what you are doing instead of convincing potential hires that they should want to come work for you. Spend time searching for a customer who needs and wants what you have, instead of trying to convince someone who doesn’t that they should want it.

Don’t try to change other people. Try to find the people who are like you in the ways that are most important. Work on meeting and connecting with the people who matter.

3. Revenge is a Waste of Time and Energy
Business can lead to situations that make you angry and make you want to go crush an ex-employee, ex-customer, competitor, or whoever. While spite may be a good motivator, revenge is typically a lousy use of resources. Blow it off. Take the high road. If you get ripped off, don’t spend all your time trying to get back at the guy, just suck it up and move on. If your focus on revenge distracts you from the real focus of your business, then your nemesis has just won a second time by making you less successful.

2. Help Others Reach Their Goals
Five years ago, I would have said you should monopolize talent, force people to do what you wanted, not what they wanted, lock people in, and in general do whatever it takes to keep everything tilted in your favor (maybe that is why I favored the trimmings of a happy workplace mentioned above… because I didn’t believe work itself could be happy). Now I believe that everyone has dreams and if you can help them reach those dreams, most of them will go to the ends of the earth to help you out down the road. When skilled employees are ready to move on, don’t be mad, be happy for them. When customers have outgrown you and need a different type of provider, help them find what they need, don’t be angry at them. Don’t be one of those people who only takes and takes in a relationship. Be a giver, even if other people call you a sucker. In the long run, you will be better off.

1. Relationships, relationships, relationships
The single biggest thing that I have learned is that relationships matter. People like to work with people they trust. Five years ago, I thought I would be a successful entrepreneur some day because I would hole up in my house and read all kinds of technology and business books and play with lots of software and then have some breakthrough insight that would shake up the world on its own. Now I think if I am ever highly successful, it will be because a bunch of people helped me get there. My biggest regret at this point in my life is that I wasted my MBA years by not networking. I skipped almost every networking event we ever had because I thought it was a waste of time and I was better off studying or reading. I should have spent that time networking and getting to know my classmates.

In December, we decided to give up our search for funding and turn to services work to bring in revenue and keep our product development hopes alive. We went from $0 in revenue in November to an expected $40K in March, and we have enough potential business in the pipeline that if we close just part of it we will be over $100K in revenue a month by the fall. Almost all of that business came from relationships. Some of the relationships are relatively new, but still, my point is that no one contacted us through a web site and we haven’t done any advertising. We just started talking to friends about the stuff we are doing and our network of relationships started sending us business. It saved us from having to shut down our own hopes and dreams. If we end up successful, it will be because of other people. It will be because of the relationships we have.

I hope you can take something away from what I have learned. I also hope you will keep reading as this blog enters new ownership. I will still pop in on occasion to say hello and contribute some insight, and you can always follow me at my new blog. Thank you for helping me think through so many issues over the past 5 years, and as always, thanks for reading.

我的商业思想的十大变化

五年前，我对商业的看法与今天相比可是大为不同。所以这最后一篇文章我得深思熟虑，我将整理一下这五年间个人商业思想的十大变化。我并不是说它们就是福音书，或者说它们就一定是对的。我认为绝对论通常意味着封闭思维；任何有识之士都应当根据新现象与新时势，不断微调自己的观点。今后这五年，我可能会反复阅读这篇文章，并想想哪些地方我有犯错。虽然如此，本文正代表着我今天的全新思想。

10、运气问题

五年前，我可能会说，成功主要得靠技能与努力；然而，过去五年里我接触过无数聪慧且勤奋的创业者，他们均未能突出重围。我也见过一些泛泛之辈行了大运。在我看来，一般而言，有小部分的成功人士不过是些幸运的庸人，大多数成功者既有才能又足够幸运，还有少许出类拔萃的天才无需借助机遇。这三者从数量上讲呈钟形曲线分布。才干与勤奋能让你快人一步，但要想脱颖而出，我想我们中的大多数人还是需要运气和时机。

9、敏感vs理性

在商业上，我曾执着于“快公司”理念。我相信这一切均与弹性有关。成功的关键是让雇员快乐起来，并创造像Google那般奇妙的工作空间。这种想法还是有些道理的，但现在我更加注重产业经济分析。与糟糕的经营和花哨的工作间相比，卓越的经济思维能使你更接近成功，即便你会犯些错误。对创业者而言，在变化万千的市场中寻找机遇正是我眼中的不二法门。

8、提防炒作

我过去总对那些曝光率很高的人望而生畏。当一家公关公司因商业推广之需为我宣传造势时，我总算体会到了个中滋味；他们为我写了条标语，希望能得到我的批准。难道这就是游戏规则？从此以后，我对公关爱恨交加。我知道成为“思维领袖”对我很重要；但与此同时，大多数时候，公关都在矫揉造作甚至弄虚作假，我讨厌成为骗局的一部分。这让我懂得，当你看到有些人坐在专家席，或有文章发表在某报刊，抑或看到他们被吹嘘为行业引领者时，这并不意味着你应当洗耳恭听，或他们所讲的会有些什么真知灼见。做好你自己的研究，问他们一些刁钻的问题。不要将你的敬畏建立在他们的幌子之上。

7、自省：看到你想看到的，总是轻而易举

我花了两年时间才为我的第一宗生意找到财务伙伴。接下来的几个月过后，我意识到利润不可能有我想像的高。许多人告诉我为什么它不可行（大多是糟糕的产业经济分析），然而我并未听从。它显得很酷很性感，我想的也是很酷很性感。我看到的是自己想看到的一切。我没听进去。

问题是，当你在做一件新事情时，人们大都持批评态度。那么，你怎样知道何时应该听从何时又该置之不理呢？对此我并没有一个很好的答案，但我很清楚，每天我都得扪心自问，是否有迹象表明我的某些观点确实有误。例如，我确信对地方网络媒体而言，当地信息的高度聚合是错误的手段，然而这正是每个人都在做的。相反，我相信你需要采取大规模的用户化定制策略——一种末端（backend）聚合，但针对特定城市却是独一无二的前端（front-ends）集群。我并未发现任何证伪的证据，这却让我苦思数夜，为什么只有两家公司采纳了我的建议，而其它200家却反其道而行之。

6、实干

我曾沉浸于没完没了的计划和谈话。我并非批评计划或谈话——它们很可能是有益的；但如今我更喜欢身体力行而不是空口说说而已。对于任何新近事物，你的计划很可能会出错，所以你可能还是得从头再来。比起所有形式的计划，实干能带给你更加敏锐的商业“感觉”。此外，一旦你被公认为实干家，每个人都会愿意与你共事，因为他们都被计划狂与空谈者忽悠过。当然，实干可能会更花时间，也更艰难。一旦你下定决心脚踏实地大干一场，你要小心，切不可为工作而工作（你需要目标）；可是，有时实用至上也并非良策。

5、其实失败没什么大不了的

失败总让人难堪。我们都希望自己能够屡获成功。我过去常因为他人的耻笑，或随失败接踵而至的批评而惴惴不安；这并不是说我喜欢并欢迎它，而是说它再也不像以前那样乱我心神。原因之一是很多“失败”只不过是暂时性的挫折，并且如果你没有被它们吓到，没有心灰意冷，你极有可能力挽狂澜。第二个原因是，失败几乎都是一段很难得的学习经历，你可以将自己的经验心得卖给某些企业，使其避免你曾犯过的错误，这样你还可获得一笔咨询费呢。

4、找到你的人

找人是你需要掌握的关键技能。我过去常认为，我应该更具说服力。我的经历告诉我，赚钱、招人或销售的关键诀窍是征服那些怀疑你的人。不。花时间寻找那些所见略同的投资者，而不是那些对你的意见不闻不问的家伙。花时间寻找具备共同理念的员工，而不是那些只想跟你上班的人。花时间寻找切实需要你的产品的顾客，而不是那些根本就不想要的人。

不要试着去改变其他人。寻找志趣相投者才是最重要的。将时间花在真正相关的人员身上。

3、报复纯属浪费生命

在你的商业生涯中，总会碰到令你不爽的事情，甚至你连杀人的心都有。置之不理实乃明智之举，报复是典型的糟蹋资源。让那些不快随风飘逝吧。走你自己的阳光大道。如果你被人出卖了，切莫将所有时间用在报复之上，忘掉它，继续前进吧。如果你整日处心积虑图谋报复，这将使你无法专注于那些本该用心的事务，这么一来，你将离成功更远，你再一次给了对手以可趁之机。

2、助人成功

五年前，我可能会说，你最好独善其身，迫使其他人做你想要做的事情，而非他们之所想；将你的员工关起来，做对你有利的事情（或许这正是我在上面提到的，为何要有一个快乐的工作环境，因为我不相信工作本身即可带来快乐。）现在，我深信人人皆有梦想，如果你能帮助他们实现梦想，他们也将为你的事业全力以赴。当熟练员工准备跳槽时，别抓狂，为他们祝福吧。当你无法满足顾客所需，并且他们需要其它类型的供应商时，帮助他们找到他们需要的，没必要为此懊恼。多为自己创造出路。做一个贡献者，即使其他人笑你是个傻瓜。从长远来看，你必将受益匪浅。

1、关系，关系，关系

在我看来，最重大的事情莫过于关系问题。人们希望为那些他们所相信的人工作。五年前，我曾想，可能有一天我会成为一名成功的创业者，因为我深居简出，我日夜钻研各种各样的技术和商业书籍，我玩过大量软件，接下来我将获得足以影响世界的思想。我现在却认为，如果我非常成功的话，那是因为有一大群人在帮助我达成目标。从这一点来看，我这辈子最大的遗憾是，在我修读MBA期间，没能好好经营我的关系网。我忽略了绝大多数的社交活动，当时我觉得那纯粹是在浪费时间，还不如多花点时间用来研究和阅读。现在想来，我真应该将时间花在社交之上，我应该好好结识我的同学。

在12月，我们决定放弃寻求融资的努力，致力于服务工作以赚取收入，从而使我们的产品得以维系生机。在11月我们一无所获，3月份我们预期将赚到4万美元；我们有足够多的生意仍在进行中，一旦我们咔掉其中的某个环节，等到秋季，我们每月将失去10万美元的收益。我们所有的生意几乎都来自关系。有些关系相对较新，但我要说的是，没有任何人是通过网站联系我们的，我们也没有做任何广告。我们只是向朋友们谈论我们正在做的事情，接着我们关系网中的人们开始找我们做生意。这将我们从希望与梦想的崩溃边缘拉了回来。如果我们最终成功了，那一定是因为其他人，因为我们所建立的关系。

我希望你能从我的思考中收获一些心得。我也希望你能一如既往地阅读这个已经易主的博客。我仍会时不时来这里向大家问好，并与诸位分享我的一些见解；你可以通过我的新博客继续关注我。谢谢你在过去五年里助我解决了如此多的问题，我也始终感谢你的阅读。