With the massive growth in Internet Start-ups of all shapes and sizes, some experts are likening the current web climate to that of the Dot Com Bubble back in 1999, that as you know experienced a catastrophic burst, sending Tech Stocks into a swirling down spin.

Now, I personally started in the Dot Com biz shortly after the crash, so I can’t really do justice in comparing the current state of the Internet Industry now with that of the first dot com bubble. But, what is readily apparent is that we are certainly experiencing somewhat of a Internet Gold Rush right now with many cool, Innovative and down right strange start-ups surfacing everywhere to make their mark on the web.

I read a great article in the Wall Street Journal today that weighs in on the question of a "New Dot Com Bubble". It has a interesting commentary on some of the indicators that may infer that we are in or heading towards a new bubble, such as an increase in  the number of Goofy Start-ups Names as well company perks (ie Free Food and Gym Memberships)

This WSJ article is an interesting read - check it out! I would be curious to hear your feedback as to whether you think we are experiencing a similar Dot Com Bubble to what happened a few years back - please share your comments!

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As some of you know, I occassionally feature new innovative Start-ups in my blog, but I thought it was due time to do some "shameless self promotion" (for a brief moment) of our own exciting new Start-up, ESalesGuru.com! I will try to be as objective as possible in my analysis of this company.

The recent launch of our Outsourcing and Consulting Marketplace for the Internet Marketing Industry was the 2nd most exciting and emotionally charged event in our household last week, next to my oldest daughter starting Kindergarten!

To give you a quick snapshot of our business, we have created an Outsourcing Solution that brings together businesses with skilled and pre-screened Internet Marketing Specialists and Firms across a whole variety of niche skill areas such as: Business Blogging, Affiliate Marketing, Web Copywriting, Podcasting, Social media and much more. Our management team is actually comprised of Internet Marketers who had been outsourcing for a while and and saw the great demand for creating a one-stop platform focussed purely on the evolving Internet Marketing landscape. Many Internet businesses today are experiencing in-house skill and service shortages, ongoing fast growth situations and are in desperate need of highly skilled Internet Marketing and ebusiness professionals to accomplish their important projects when they need them done!

In our Outsourcing Marketplace, Employers and businesses can search skill specific profiles, access set service packages as well as post an unlimited number of projects across 13 skill categories and over 60 sub categories. This industry is moving at such a crazy pace, that we have plans to add three new categories in the next month, including one focussed on Web Analytics.

For Professionals and Firms, ESalesGuru offers an excellent channel for accessing new project and contract opportunities, building up the client base and growing new income streams. The freelancing market will continue to grow at rapid rates, so this is an ideal time for skilled Professionals to set-up their own Internet consulting and contracting businesses.

Ultimately the end goal of  our start-up is to provide an easy avenue for building effective Virtual Internet Marketing teams and healthy outsourcing relationships that will contribute to the successful long-term growth of web businesses! How’s that for a compelling vision!

Okay, so enough shameless self promotion. I promise I won’t start a 10 part blog series on "the Virtues, Values and Power of the ESalesGuru Marketplace".   But, I do recommend checking us out when you have a sec!

Here is a copy of our Press Release and podcast through PRweb that went out today.

http://www.prweb.com/releases/outsourcing/internet-marketing/prweb552241.htm

 

 

 

 

 

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Continuing with our series on Internet Start-ups, I recently came across an awesome resource of podcast interviews and stories by successful Internet Entrepreneurs such as the Founders of WordPress, Feedburner.com, Meebo.com and many others. Startupstudio.com provides a comprehensive base of "ranked" interviews from both online and offline entrepreneurs. Their blog feature bi-weekly podcasts.

If you are currently in the trenches of a new Internet Start-up, then I would highly recommend listening to some of the success strategies and stories from these well-known Internet Entrepreneurs!

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In my last couple posts, I have been talking about some of the key elements that make up successful Internet Start-ups. While you will probably get varying perspectives on what is most important to building great Internet companies, my experience has revealed that feedback from colleagues, industry friends and of course the almighty end user is an absolute pre-requisite to continued success for any Internet Start-up.

There are essentially two types of Feedback that we accumulate for our own business: Peer Feedback and End User Feedback.

Peer Feedback involves enlisting a focus group of industry friends and colleagues to review your product and solution and provide specific feedback based on what ever parameters you have laid out. Peer Feedback can be a worthwhile AND humbling experience…. There are times when you think you have made your solution or site the best it possibly can be until you bring in some 3rd party evaluators that burst your bubble and point out some of the flaws and issues that you may have overlooked.  I recently ran a focus group with 10-15 of my close industry friends and it was immensely helpful and humbling.  I received many fabulous new ideas as well some changes we can make to improve our solution’s usability and functionality

A Peer Feedback process is simple to set-up. I just used a free onine survey solution (Freeonlinesurveys.com) and provided some specific questions on what I was wanting my focus group to evaluate. Now, you may not implement all the feedback you receive, but it is important that you have outside viewpoints so that you don’t fall into the "Start-up Vacuum" and miss some key changes that could enhance the future success of your business.

In my recent survey, I wanted to  know four things..

 - Is my site usable and navigation friendly?

- Is my Call to Action clear and compelling? (In other words, can you quickly identify the benefits for this solution and actions to take for registration)

- Are their issues or flaws in the functionality of the solution?

- Any other improvements to consider?

Again, the feedback was immensely useful!

End-user Feedback is an equally important element you need to factor into your game plan. For us, we ran a pre-launch campaign and built up an opt-in list that we will use as an end-user focus group. For many sites, End-user feedback is becoming an integral part of their Web Analytics Plan. We need to find out what is motivating our users to stay or leave our site. This can be done with java-based survey pops or follow-up emails, or even phone calls. Whatever method you use, The important thing is that you have a system in place for gathering qualitative feedback for your site. You are likely using Google Analytics or some other web analytics program and have all sorts of stats on visitor return and exit rates, conversion rates etc…., but it still doesn’t give you the clear motivations behind the behavior you are tracking.

If you are currently involved in an Internet Start-up, then I believe you must become a "Feedback Junkie" and find ways to gather both Peer Feedback and End-User Feedback. This, combined with other analytics tools you are using, will go a long way to implementing successful change for your company.

Feedback is truly the "Breakfast of Start-up Champions"!

 

 

 

 

 

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Continuing with our own series on "Internet Start-ups", I want to look at some of the intrinsic qualities or elements that are commonly held by successful Internet Start-up entrepreneurs. (Again, there are ALWAYS exceptions to the rules, but this is what I have seen based on my own observations and experiences).

A month or so ago, Netscape founder,  Marc Andreessen wrote a great blog series on Internet Start-ups. In his Pmarca Guide to Start-ups, Part 4, he dialogued about the three primary core elements of Internet start-ups he had observed and experienced: Team, Product and Market. He discussed which of these three elements would be most vitally connected to successful Internet Start-ups. His Conclusion: Market Fit.  You can have the best product with the most sophisticated technology in the world, but if there is no real strong market for it, then it will inevitably fail. You can have a sharp, highly experienced team, but again with no compelling market to promote the product to, it will flop. I agree with him wholeheartedly - Product/Market Fit is the quintessential factor to Start-up Success.

Now in this post, I want to look at some of the intrinsic elements that embody the successful Internet Entrpreneur. (this is by no means an exhaustive list, just a few that came to mind)

1.  A Signficant Purpose

For those embarking on the volatie journey of an Internet Start-up, I believe there has be a highly significant purpose, motivation or expected outcome for starting this new business. Without a clear purpose or motivation driving the Internet Entrepreneur, I believe that when the "storms hit", they will be more likely to crumble, then the entrepreneur that has a clear purpose that defines what they are doing. 

For example; your purpose might be tied to new found freedoms and opportunities for you and and family. You might see this Internet opportunity as providing a great financial future your spouse and kids - that could be a significant purpose. Another purpose or motivation might be linked to a particular philanthropic endeavor that is near and dear to your heart. Maybe, you are broken over the epidemic of Aids orphans in Africa and desire that resources from your business be funnelled to support the medical efforts in that part of the world. Maybe you are burdened by the poverty that is rampant in your own country and you want to do something about. You want to make your life count! Those are some examples of a significant purpose that may give you what you need to successfully navigate the stormy waters that often come with Internet Start-ups. Again, with no significant purpose, I think the endeavor is more likely to falter. (IMHO!)

Now, here’s an interesting debate…..Is the desire to be filthy rich and famous a significant purpose that drives the succesful Internet Entepreneur? While I am sure that some Internet Entrpreneurs have driven to success solely by their ambition for wealth and fame, no doubt…. I personally don’t classify the ambition for wealth as a significant purpose. Furthermore, I think that many Internet Entrepreneurs with that sole focus of making money may not effectively handle the stormy waters when they come, as they won’t have any significant purpose that propels them to rise above their adversity. Again, people might disagree with me on this, but that is my perspective and experience.

2.  An Extraordinary Portion of "Sticktuitiveness".

Now, this certainly can be tied to #1, but from my own experiences, I believe the successful Internet Entrepreneur has an extra measure of perseverence (sticktuitiveness) to overcome the obstacles that can often come with a new start-up business. "I give up" is not really apart of their vocabulary and they seem to actually have the ability to increase their focus and intensity when the going gets tough.

I am an avid sport fan and love watching athletes that have the rare ability to elevate their game to new heights when faced with adversity. If you have ever watched Tiger Woods go into the 4th round behind at a major PGA event, you will see a mental toughness and focus like very few people have as he single handedly propels himself to the winner circle. Similarly, I believe that successful Internet Entrepreneurs have an extra measure of mental toughness and focus to effectively manage the set-backs, disappointments and everyday adversity they experience in their business.

3.  Clear Recognition that Pitfalls are a part of the Start-up Journey.

A successful web entrepreneur does not have a "pie in the sky" mentality, but is realistic about the inevitable pitfalls that will come during their start-up journey. For many, their ability to overcome some of the big pitfalls or setbacks served as a springboard, catipulting them towards great success. I know from my own experience, the set-backs we have overcome in the first year of our Internet Start-up were real milestones and "defining moments" in our journey.

It is important to keep clear mental notes of the little and big victories you experience in the early months and years of your Internet Start-up as they will help to sustain you during future set-backs and disappointments.

4.  Ability to Adapt on the fly.

A successful web entrepreneur needs to be pliable like clay and easily adapt to new challenges, changes and opportunites in a rapidly evolving Internet Landscape. I think back to the last year of our own journey and the many times we needed to switch gears, change focus and refine our priorties on short notice. Without an ability to adapt on the fly, we would have likely been left in the dust!

5.  Adopting a Start-up Champion

So, what do I mean by that? Well, from my own perspective, I believe that an Internet Start-up Entrepreneur needs at least one person that champions their business endeavor. This person will be their #1 encourager, supporter and regular supplier of "reality checks." For myself, this person is  my wife. I certainly have a share of family and friends that  have been hugely supportive, but my wife has been the stabilizing force and champion for our business especially during a few of the dark days.  While some entrepreneurs maybe so independent, they don’t require a "Champion", I think the average person requires a sounding board or individual they trust that will give the encouragement and support they need to endure some of the difficult times.  I can honestly say that without my "Internet Start-up Champion",  I am not sure I would have been able to overcome a few of the obstacle we experienced!

So, those are just a few of the Intrinsic elements that make up a successful Internet Entrepreneur. I am sure there are many more and I would love to hear from you as to some of the other qualities and characteristics that should be added to this list. 

Until next time… 

 

  

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Well, I don’t know about you, but while I subscribe to MANY RSS feeds, I keep an "A List" of blogs that I regularly follow on a consistent basis. Over the last month or so, it has been a no-brainer to add Marc Andreessen’s pmarca blog to that "coveted" list as his extensive success and "tin the e-trench" experiences in founding, funding and advising Internet Start-ups (ie. Netscape) easily makes his blog one of  the most informative reads of my day!

Marc has recently started a new blog series, the Pmarca Guide to Start-ups, which is a valuable read for any new and existing Internet Start-up seeking funding or merely trying to staying afloat in this competitive Internet Landscape! I am a little behind on the series, so today I read Part 2: When VCs Say No.  Marc offers a really good Onion metaphor for identifying the layers of risk that you must be assess when seeking funding or just evaluating your business feasibility as a whole.

I would recommend reading his start-up posts first thing in the morning after a good cup of java as they will require you some thoughtful reflection for sure!

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When I was reading TechCrunch the other day and they were featuring this new innovative solution, Mizpee,  I knew I couldn’t pass the opportunity to share my own thoughts on this new "Bathroom Radar".  To copy verbatim from the Mizpee site, this service finds the closest, cleanest toilet and gives you entertaining reading material once you get there. This is a mobile service, which enables you to have quick access to the most accessible bathrooms.

You simply fire up your mobile browser and click on "Find Toilet" and you can input the specific street address and city where you find yourself. Mizpee will then provide listings of the closest and cleanest bathrooms in the area and some interesting reading material to boot!

Now, I first of all must give Mizpee a ton of credit for coming up with a very innovative concept and one that I certainly have never thought of! But let’s have a reality check for moment shall we? I don’t know about you, but when "Nature Calls" and I need to go in a hurry, I think I probably have enough common sense to quickly scan my surroundings and jump into the closest coffee shop, gas station, restaurant, office building etc… to take care of business.  While I can appreciate Mizpee finding the cleanest bathroom in the area, when I have to go, the last thing I want to do is review bathroom feedback and assess the overall aesthetics to ensure I have a most enjoyable washroom experience. Just get me to the porceline (or the nearest bush in emergency situations.:)

Now, I wonder what Neil Postman would say about this??? In his famous book, Technopoly, he emphasizes "the growing condition in which human judgement and subjective thought fall inferior to the advancement of tecnology and it’s mandate for efficiency and accuracy."  I would have to concur with "Mr Postman" on this one as it relates to tools like Mizpee. I applaud their creativity and innovation, but at the end of the day, I just don’t need a computer solution guiding my bathroom decision-making abilities!

Although, I do look forward to Mizpee 2.0 - The Quick Solution to Constipation - Sorry, couldn’t leave that one alone:)

 

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