Monday, August 20, 2007

Thought of the day

These last few days I am having a lot of discussions with one of my customers who is transitioning from the early stages of business growth, where growth is highly correlated with the ability of a business to seize opportunities rather than with that of executing a strategy. His company is now of a size that makes it tricky to be changing directions too often, while as a business owner he still prizes his freedom to tinker with the business too much to make a credible commitment to a growth strategy. He is still ready to jump on opportunities and particularly on the opportunity to sell his business even though that is probably not the best way for him to derive long term value out of the business he helped launch. Interestingly in this case, the sale of the business may even destroy value for the company...
Several lessons to be taken there:



  1. strategy without commitment to it is worthless crap


  2. the confusion of roles (owner, director, manager, employee) is not conducive to value creation


  3. early stage entrepreneurs are not necessarily the best people to drive value creation at later stages because what makes them strong in the early stages becomes a performance killer later on


  4. focus on personal wealth may not be the best way to make a business prosper (that's what one of my friends would call the "greed distortion", which is tricky to control)


  5. execution gives meaning to great thinking (one of my frustrations insofar as my influence on a couple of my projects may be quite limited)


Saturday, August 11, 2007

Quote of the day

"Your children are not your children.

They are the sons and daughters of Life's longing for itself.

They come through you but not from you,

And though they are with you they belong not to you.




You may give them your love but not your thoughts,

For they have their own thoughts.

You may house their bodies but not their souls

For their souls dwell in the house of tomorrow, which you  cannot visit,

Not even in your dreams.




You may strive to be like them, but seek not to make them like you,

For life goes not backwards, nor tarries with yesterday.

You are the bows from which your children, like living arrows, are sent forth.




The Archer sees the mark upon the path of the infinite,

And He bends you with His might that His arrows may go swift and far.




Let your bending in the Archer's hands be for gladness;

For even as He loves the arrow that flies, so He loves also the bow that is stable."



The Prophet, Kahlil Gibran



Wednesday, August 1, 2007

Meet Sophia!

Img_3700_2



A special day

Expecting the birth of a child is quite an experience. Since this is the first time I find myself in such a situation I guess it adds a bit of spice to the whole thing... What analogies can be drawn from the way humans come to life in order to be applied to bold quests in business? I wonder. I don't think I'll explore that just now :-)
Anyway, while I am taking part in my most fascinating "project" ever and with a key milestone just hours away, allow me to offer a quote for today, which I hope will also be good food for your thoughts and mediation:

"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
The Little Prince, Antoine de Saint-Exupéry

More in a few days...



Tuesday, July 24, 2007

Wikis and RSS explained in plain English

These are excellent pieces explaining wikis and RSS. Worth viewing even if you know what it's all about because it's a great example of how to communicate in a simple and concrete way the benefits brought about by a piece of technology or a by given solution. I have recently been involved in analyzing the reporting requirements for the marketing communications team of a customer and these videos provide great inspiration on how to explain issues and recommended courses of action... I did not say I'd make a neat video like this one though. Enjoy.



Wikis in plain English (The Commoncraft Show)








RSS in plain English (The Commoncraft Show)








Thursday, July 19, 2007

What's the real impact of your online marketing?

Snowflake
The issue of measuring the real impact of marketing campaigns has always been thorny. With the adoption of web technologies it becomes more acute because of the theoretical capability to measure consumer behavior more accurately that is paradoxically coupled with considerable uncertainty as to the actual engagement of people when exposed to a commercial message. So how do we measure human engagement? Should we use time spent on a page as Nielsen seems to suggest?



When a teenager is in front of a TV set with their cell phone connected on a WiFi network allowing them to access their favorite instant messaging platform, how much of an impact do commercials actually make? When somebody surfs the web looking for something specific, are they really open to the ads and sponsored links that are being pushed their way? Given the considerable increase in the amount of content available, the competition grows fiercer for human attention, let alone for human attention that is coupled with an intention to buy. Things are made even more interesting by the fact that the debate is now open and not solely confined to the guild of advertisers and media owners. Indeed, while, for the past half century, everyone accepted established metrics as accurate proxies of the impact of marketing campaigns, the dirty little secret of marketing was that everybody knew that 50% of budgets were wasted although nobody could tell which 50% it was.
Today the debate is heated and many players, widely considered as authorities in the field of marketing metrics, are trying to push their latest theory about measuring the actual impact of ad campaigns. Such is the case of Nielsen who now seem to support the idea that the time spent in front of a page is actually a better proxy for the consumer's engagement (see Forbes's article and the interview of a Nielsen exec posted on AlwaysOn) than other indicators like page views or click through rates. This is surprising to say the least since the time during which a browser is connected to a page does not necessarily reflect the actual time a user spends considering the commercial messages on that page. Just as an example as I am writing this post, my Firefox browser has 11 tabs open which are connected on different web sites and blogs. Does that mean that while I am painstakingly trying to write proper English to express my views I am also engaged in all the ads shown in all the pages which are open in Firefox? Even if I were to assume that what is being measured is the active tab, I am not sure that when I am on my favorite online publication reading an article I am paying much attention to the banners and ads on display. While I do understand the rationale of Nielsen especially for video content (one page view for several minutes of attention on the video content, plus strong coupling between the content and the commercial messages "embedded" into the video stream), I fail to see why time spent on a page should be accepted as a general metric for user engagement online, let alone user engagement in commercial material published on that page. Perhaps there is a need to develop metrics for each type of format (text, audio, video, images...) accessed by people and to use systems like the Attention Recorder of Attention Trust to measure the amount of attention they devote to a specific piece of content? Perhaps people should be compensated based on data recorded by the attention recorder? Perhaps new forms of marketing are a necessity more than fancy innovation today...



Tuesday, July 17, 2007

Great news for Jamendo

There we go. Unlike a couple of days ago, I can now say how happy I am for Jamendo, who published an interesting press release.



Post published on 7-JUL:



Today I got some pretty good news for Jamendo, the leading entrepreneurial initiative in Creative Commons licensed music. I won't disclose any details: this is just to tease you and to congratulate Sylvain, Laurent and Pierre, the founders and their team on the achievement of a beautiful success and a major milestone.