Kinetic Cam

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I cannot tell you how excited I am to hear that Cam Lanier is joining Kinetic Ventures. 

Cam was the guy that funded MindSpring.  Alan Taetle and I would make the trek to West Point every six months or so to explain to Cam how we were going to achieve 20% quarter to quarter revenue growth that was in MindSpring's plan over the next six months or so.  Not sure if we always knew the full answer.  But we knew enough to sell it.   And then go and make it happen.

As I have said from time to time, I respect Cam a great deal.  In some ways he is just like Charlie Croker in A Man in Full.  But more then anything else, Cam is a man of values.  Those values are not just written on a Web page.  Cam lives them.

It's been awhile since I have spoken with Cam.  With Kinetic's
Atlanta office one floor above mine it will sure be good to see him around
again.

January 14, 2009  |  Comments  |  Tweet  |  Posted in Venture Capital

Your Brand Promise

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The concept of branding is both very wide and deep in the realm of marketing.  Some people have made entire careers writing about the subject.  Some people try to explain branding in a manner that borders on mysticism.  I don’t want to make a career out of branding, and I advise you to flee those that approach branding in a way your mama would not understand.  But I  want to share some simple thoughts and concepts that will help your startup company develop a strong brand.

The key word in the last sentence is simple.  I want to keep this discussion relatively simple. In the process of making this simple I am going to leave out a lot of details.  Details that are well worth discussing for later stage companies with lots of money to spend.  For startup and early expansion stage companies none of the depth or details matter.  If you are in a startup I want to give you
something that you can act on to start building your brand.  Today I want to discuss how to create a brand promise.

What got me thinking about branding was an article (paywalled) by Al Ries in Ad Age last week.  Ries is another one of those folks that make a career writing about branding.  Along with Jack
Trout he wrote Positioning: The Battle for Your Mind. Ries and Trout are so good they own the positioning of the term positioning. But I disagree with Ries basic premise in his  article that you can’t build a brand and a business at the same time.  I have done this myself and seen others do it as well. However, I agree 100% with his statement:

“Almost every successful brand in the world
started as a narrowly focused brand that stood for a single idea.”

Telling someone to focus is pretty easy to do.  And though laser like focus is something that marketers and VCs both preach, in practice it seems to be very hard for entrepreneurs and managers to do.

How do you do it?

A while back I wrote an article on positioning.  Use the positioning statement exercise I outlined at the end of that post to create a narrowly focused brand.  To define the single idea that your company stands for in the mind of the market.  This focus created by you and your company can also be considered a brand promise.  A brand promise is just a fancy name for the value that you are delivering to the market.  Your unique value proposition.  Why someone is going to buy your stuff.

Creating a brand promise is step one. You have this and you have a great start to building a brand that stands for something.

Next week I intend to talk about step two.  Creating a brand identity.

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Great Choice!

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I was breezing through the headlines in The Wall Street Journal this morning when I came across this: "Obama to Tap Tech Adviser as FCC Chief".  As in Internet this got my attention and the more I read the more excited I got about the selection.  Julius Genachowski is an excellent choice to lead the Federal Communications Commission.

First of all he has FCC and beltway experience.  During the Clinton administration he served as General Counsel to the Chairman of the Federal Communications Commission.  A little bit of a so what, but the guy knows his way around Washington.

Second of all when he left the FCC he went to work for Barry Diller at IAC/InterActiveCorp.  He has been on the board of directors at Expedia, Hotels.com, The Motley Fool, Tickermaster, and Website Pros.  My bet is Mr. Genachowski understands the Internet and the challenges facing Internet companies.

Third of all he is a Venture Capitalist at Rock Creek Ventures. A firm he co-founded.

Fourth of all his email address is in his profile on the Rock Creek Ventures site. There's some openness for you.

Fifth of all he gets early stage technology.  In addition to Rock Creek Julius founded LaunchBox Digital, an seed stage investment firm based in Washington D.C. LaunchBox follows the Y-Combinator model.

Time will tell, but I think this guy understands technology and understands telecommunications.  I can't think of a time when I have been more excited about a government appointment.  Happy New Year!

January 13, 2009  |  Comments  |  Tweet  |  Posted in Current Affairs, Internet

Let The Games Begin

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2009 is in full swing with a slate of events and competition that any startup entrepreneur in the Southeast should consider. 

CapitalLounge

The next rev of the StartupLounge's entrepreneur/investor mixer takes place on February 25.  CapitalLounge's primary goals are to provide an environment where early stage entrepreneurs can make connections with other like-minded entrepreneurs and provide the opportunity for early-stage investors to meet and mingle with early-stage entrepreneurs.  Bring and expect a lot of energy.

GRA/TAG Business Launch Competition

The kickoff meeting for the GRA/TAG Business Launch competition took place last week.  You can read a bit about that and pick up some tips over on PeachSeedz.  This is big. 

The Georgia Research Alliance (GRA) and the Technology Association of Georgia
(TAG) joined forces to support the creation and growth of new startups
in Georgia via a competition.  The contest winner will receive a
$100,000 cash award courtesy of the GRA and a diverse array of services
valued at an additional $200,000. This comprehensive $300,000+ prize is
one of the largest in the country. 

Once again the competition is focused on Internet technologies. This includes companies that are developing
products, online services, or backend technologies that are using or
extending the reach, flexibility and ease of the internet; with a
particular interest in companies within the fields of digital
media/technology, cleantech, mobility and information security.

I have the honor of coordinating the effort to pick the semi-finalists.  Preliminary applications must be received electronically by February 10.  Final entries are due April 7.

Georgia Tech Business Plan Competition

Great business plan competition for entrepreneurs that are students or alumni of Georgia Tech.  Real companies have emerged.  Lots of learning via workshops.  Some cash awarded.  Indications of interest were due Friday.  I would reach out to Alan Flury pronto to make your case.  

TAG Top 40 Innovative Technology Awards

Every year in conjunction with the Georgia Technology Summit,
TAG showcases Georgia’s Top 40 innovative technology companies. The
first slot in the 2009 TAG Top 40 was captured by Simatra, an ATDC member and VentureLab graduate, that won the special Startup
Gauntlet competition in December.  TAG is now looking for 39 more
companies to honor on March 3rd.

The competitive selection process
will focus on the companies' products, services and technologies.  The
Top 40 companies will participate in a showcase at the Summit, expected
to draw over 1,000 leaders from the state's technology community. Ten
particularly outstanding companies from the Top 40 will also make short
presentations to the Summit attendees, including venture capitalists,
angel investors, potential customers and partners.  The application deadline is February 1.

SEVC

TechJournal South is bringing the 2009 Southeast Venture Conference to Atlanta on March 11 and 12.  This is a venture capital conference and it caters to that audience.  The startup company focus is decidedly later stage.  Growth stage.  The deadline for presenting companies applications has come and gone.  But if you got it going on and are looking for venture captial I suggest you reach out to Eric Gregg or me.

Startup Riot

After its winning inaugural last year Startup Riot is back for more.  It takes place on February 18.  Price to attend
ranges from free to $50 for this bash featuring 3 minute presentations
from more than 50 early stage companies.  Presenting is free and the application is pretty straightforward.  Read the rules.  Sanjay Parekh may reject you for not following them.

January 12, 2009  |  Comments  |  Tweet  |  Posted in atdc, Entrepreneurship, Internet, Startups, Venture Capital

Quote of the Week

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“The art of good business is being a good middle man.  Putting people together.  It’s all about honor and respect.”

XXXX

In the film Layer Cake which I watched on Sunday night.  Great flick.  Highly recommended.

And it seems for the past couple of weeks I have witnessed this in many ways.

Below is one of my favorite scenes and where the movie gets its title.

January 9, 2009  |  Comments  |  Tweet  |  Posted in Quotes

CES Is Not Coming To Atlanta And I Am Not Going To CES

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Some time ago Wei Yang of Easy Auto Sales suggested on Skribit that I write about bringing CES to Atlanta.  With that annual consumer electronic bacanal opening today it seems an appropriate time to address the topic. As Greg Foster mentioned last night, the odds of CES coming to Atlanta are zero.  Here are a few reasons why.  And why I don't care.

Size Matters

CES is too big for Atlanta.  Back when the Super Show moved from Atlanta to Las Vegas in 2001 Show Management (the company that ran Super Show) said they had outgrown Atlanta.  At the time the Super Show had about 80,000 attendees. This year, even with an 8% forecasted drop in attendance, CES is
expecting 130,000 people.

A few facts are in order.

Atlanta has 92,000 hotel rooms. Las Vegas has 155,000.

The Georgia World Congress Center has 1.5 million square feet under roof.  The Las Vegas Convention Center has 3.2 million.  There is over 9 million square feet in the Las Vegas MSA.

Atlanta can't handle a show the scale of CES.  Few cities in the
world can.

So what.  It is what it is.  And even if Atlanta could it would not matter.  Because…

Location Matters

The people that go to CES don't want to come to Atlanta in the dead of winter. 

Let's start with the most obvious.  Las Vegas is a closer to the majority of people that are attending and exhibiting at CES.  People from LA can drive.  It is a short flight from SF.  Vegas knocks hours off the trip from Japan and Korea.  It is merely more convenient. 

I remember when E3 was in Atlanta in 1997 and 1998.  My West Coast partners complaining about the trip.  Basically wanting to know why over half of the participants got on a plane to fly four hours.  Yeah I remember that.  And the latex clad E3 booth babes.  Nell McAndrew as Lara Croft was mesmerizing.  Forget CES.  I want E3. But I digress.

Vegas has better weather.  It is going to be sunny and mid 50's this week in Las Vegas.  Atlanta is mid 50s with a bit of rain. But it could be a lot worse.  Ask the NFL.

On top of all this, whatever entertainment Atlanta is known for that attracts conventioneers Las Vegas has more of.

But it really does not matter.  Because…

Trade Shows Don't Matter

I don't like trade shows.  They are a waste of precious dollars and time.  Too many people.  Crammed in one place. Over a short period of time.  Follow up does not happen.  The ROI is not there. 

Back when I was in the InfoSec space the sales team insisted on going
to RSS. I insisted on knowing what deal was initiated and closed as a
result of us being there.  Yes deals were moved along. But the answer to my question.  Zero.  I'd rather pay for a
plane and spend a day to get in front of the people that I need to talk
to.  Quality time.  If you feel you need to be at a trade show for presence or relationships or
whatever, fine.  Call it what it is, sales or promotion.  Either way exhibiting at trade shows has a negative ROI.

And not to be a total Grinch, but oh the noise, noise, noise, noise! The PR noise is just impossible to rise above. Even if you bring a bunch of presents. 

For all these reasons back in the day I vowed to never attend Comdex. And I never did.  Comdex is gone.  The Super Show is shutting down.  I have no desire to attend CES.  Let's see if I can keep my string alive.  Maybe it will out last me.  I doubt it.

Big trade shows are dying.  They just are. I attend MacWorld and CES online and like it that way.  More efficient and effective.

On this point I agree with Scoble.  And I suppose I will close with that.

January 8, 2009  |  Comments  |  Tweet  |  Posted in Uncategorized

Office Hours

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I got a problem.  Two really.

Problem one.  A lot of people that I don't know want to meet with me for various reasons.  And with the economy in recession and people looking for new things to do the various reasons are increasing.  I want to be helpful.  Networking with the startup community is actually part of my job.  I am always looking for good companies to join ATDC.  I seldom say no to a cold or networking intro.  But it takes time.  Lots of time.  The meeting time aside it takes me a good 20 minutes a day to just coordinate via email whom I am meeting when and where.

Problem two.  I need to spend more time working with the companies in ATDC.  I am supposed to be spending the same amount of time working with these companies as I am with applicants.  That ain't working at the moment.  I tend to get assigned a lot of project and program work because according to my leader "you are so good at getting it done."  May be true.  But it's not really what they hired me to do.

So I am going to try something new this year and see how it works.  Officially Georgia Tech classifies me as a "professional with faculty status."  Georgia Tech requires that all faculty have office hours.  So I am going to set some up.  They are:

  • Tuesday from 3 – 5 pm for ATDC member companies.
  • Thursday from 2 – 4 pm for ATDC member companies and applicants in suite 202 of the Centergy Building.
  • Friday from 9 – 11 am open office hours for anyone at the Tech Square Starbucks.

Let's see how this works.  Hopefully it will foster more efficient and effective dialog.  All I ask of you if you show up is to have a very specific purpose, be prepared to discuss it, and be considerate of others who may be waiting to chat. 

And if no one shows up I can just work on those pesky programs and projects.

Update: Received a lot of comments online and offline about this being very difficult to manage the people that just show up.  You can now schedule a 20 minute appointment via Genbook.


January 7, 2009  |  Comments  |  Tweet  |  Posted in atdc, Business, Personal

Well Hello

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It's been a while.  Went offline. Spent lots of time with family and friends that have no idea what things like blogging and twitter are. 

So Happy 2009.

It is going to get off to a great start for me.  I am getting a new co-worker.  You see we have been a little short staffed at ATDC for about a year now.  But that problem is going to start to go away today.

David Sung is joining ATDC as a Venture Catalyst.  And we are all pretty excited about it. Among other things David will be managing the ATDC Seed Fund.

David is best known in these parts as being a Managing Director of H.I.G. Ventures for about five years.  What most people don't know is David is also a serial entrepreneur with four startups under his belt.  A few of them were pretty darn successful.

It's great to have David as a teammate.  A promising start to 2009.

January 5, 2009  |  Comments  |  Tweet  |  Posted in Uncategorized