Thoughts on Business, Marketing and Social Media

The easiest, most straightforward way to create a great product or service is to make something you want to use. That lets you design what you know—and you’ll figure out immediately whether or not what you’re making is any good. – Jason Fried & DHH in Rework

(Image courtesy: topnews.in)

“Scratching your own itch(SYOI)” is a popular phrase amongst many startup circles. What it essentially means is to build something that solves a problem you face. The case in point cited by many is the fact that when you are solving your own problem you know what exactly the problem is and how it can be addressed while on the other hand if you are scratching someone else’s itch you are sort of taking blind shots at both the problem and the possible solution(s).

Apart from the obvious fact of knowing the problem a bit better what works for SYOI is

1. Immediate & Direct Feedback: You can directly feel the impact that your solution creates. If for example one builds a product to manage his food expenses, the utility/futility of the product can be judged directly and immediately. One doesn’t need to do a long trial run/demo to see if the product works.
2. Extra Incentive: You + Customers > Customers. Working on a problem that benefits oneself directly has additional incentive because of the direct personal impact. Not just this, the beauty of this scenario is that one doesn’t need to think about the customers all the time i.e one can be content by just solving his/her problem. Other customers become secondary and this is a good thing because you don’t have to worry about what they might/might not like and just focus on what works for you, simple.
3. Passion: SYOI also makes one more passionate about the problem they are working on because they can relate a lot more to the problem and the issues that arise because of it. The direct impact of the solution on you also adds to the passion.

However having said all that, Is ‘Scratching your own itch’ the only way out? or Is ‘Scratching your own itch’ better than ‘Scratching someone else’s itch’?

While SYOI might have it’s own benefits, it certainly isn’t the only way out for entrepreneurs and not every invention/business is born out of it. For ex: A closed social networking platform for Chief Executives (CEO’s, CXO’s etc) of Fortune 500 companies built by 24-25 year olds can still work or a dating platform built by a married man is no less likely to work because he’s not scratching his own itch {assuming he’s not interested in finding himself a date through this platform }

Also, not all’s good with SYOI and it also has its fair share of negatives

1. Small Market: What bothers you which might not be bothering others. Thus some SYOI businesses also stand a risk of solving problems for a very small market segment. For ex: A friend of mine hates to wait in queues for getting CNG for his car and is ready to pay someone extra amount to take his car and get CNG filled in it. So if he were to start a service based just on this then it’s quite likely that there might not be a lot of people willing to pay extra money to get CNG/Petrol.
2. Financial Feasibility/Business Model: SYOI might work great for Open source where all developers are constantly writing/modifying code to meet their needs and in the process helping scores of other fellow developers it might not work that well when it comes to doing a business. Not all personal itches and their solutions can have business models. This is not to be confused with the previous point on Small Market as having a solution for small market can still be monetized but monetizing something that appears to be a problem to you but no one else might see it as a problem can be an issue.
3. Domain Knowledge or lack thereof: Needless to say, while starting a business it makes a lot of difference if you have enough domain expertise in your team and it might hurt if you are trying to solve your problem without having enough domain knowledge. For ex: I probably won’t land anywhere if I were to try to solve my itch of building a car that flies instead of crawling on Delhi roads. It’s worth noting that lack of domain knowledge is also likely(a bit more?) to hurt when you are trying to scratch someone else’s itch.

S0 are you scratching your itch or someone else’s? How’s it going?

Links:

1. http://archipreneur.blogspot.com/2010/03/scratch-your-own-itch-rework-by-37.html
2. http://gettingreal.37signals.com/ch02_Whats_Your_Problem.php
3. http://www.instigatorblog.com/scratching-your-own-itch/2010/08/12/

Though I’ve been dying to, but it has been quite a while since I blogged. Blogging for me amongst other things is an art, a way to express how I feel about a particular living/non-living thing and It’s the mere fact that I can express myself freely is just  too good.

The first half of the month went by way too quickly. While most of the first week  was spent traveling, the second was spent on bed(down with viral). A lot has been going on both in the mind and off it and I hope to be able to speak here more often. If you happen to read this and there’s something you’d like me to write about (Startups, Business, Product Management, Social Media or anything else) just drop a comment and I’ll try to cover it.

BTW what’s up with you?

Off late I’ve been thinking and reading(a bit) on how to be more productive and efficient while working. Information/Web Workers that we are, run a great risk of diverging from the tasks in hand to doing something completely random(and useless mostly).

It often happens with me that I start working on something(say a presentation) and get a notification on my Tweetdeck or BlackBerry and before I realize I am going through somebody’s twitter profile or reading a blog post somebody shared.

Here are some of the things that I’ve tried and have managed to save some time/productivity loss. To ensure that the post doesn’t stretch long enough I’ve divided into two parts and this is the first part.

1) Not Logging on IM’s: It’s been a few months since I logged into any of the Instant Messengers while working and it’s definitely a time saver. Though I have accounts on almost all the popular IMs I use them sparingly that too only when I need to have a predecided conversation with someone. If you find it tough being offline on IM’s, being invisible is the next best thing

2)  Not Checking Emails Every 2/5 Minutes: Certain professions, job roles and situations expect that you read and reply all incoming mail as soon as possible but for most of us that’s not the case. Therefore clicking refresh button or clicking on that open gmail tab is neither needed nor useful.  I am also practicing this habit of not checking mails every 5 minutes and trying to do it at least after an hour.

3)  Disabling Notifications: Whether you realize it or not, if you are active on Facebook and use a desktop too for Twitter among other things, your chances of getting a comment/invite/tagging/update notification are really high and you’ll end up loosing focus and time quite often. Therefore it’s a good idea to disable email notifications for your Facebook and other tools/services.
Got a productivity tip to share? Post it as a comment and I’ll try to include it in the next post on this topic.

Check out this excellent compilation of 10 Inspiring Ted Talks for Startups http://www.readwriteweb.com/start/2010/07/ten-inspiring-ted-talks-for-st.php

I particularly like the talks # 6,7 and 9

Which ones to do you find most useful?

At any given point of time the number of browser windows and browser tabs open on my laptop is not less than 15. Yes, never less than 15, in fact its about 25-30 on an average. Apart from the fact that it sucks a lot of memory from my Win 7 loaded laptop it also is weird pressure of sorts. The pressure to read every open link and extract most out of it in the least amount of time.Not only this, this situation is like quicksand, the more you try to get out of it, the more you get stuck. The more tabs I want to close, the more I find myself opening.

Web pages have this really good/bad attribute of cross-linking, so one page links to another and that links to another, ad infinitum and a significant part of my working time goes in closing tabs one after the other. I am quite sick of this never ending game and shall try to start afresh tomorrow by closing everything done(almost) and starting afresh and hope to limit myself to a 10 tab window and get more done.

Another post to keep me attuned on blogging and sharing some useful information in the process.

1) Speed of eating “key to obesity” – http://news.bbc.co.uk/2/hi/7681458.stm

2) How to build one of a kind Facebook Fan Page: http://techcrunch.com/2010/03/28/how-to-build-engaging-one-of-kind-facebook-fan-pages/

3) Stephen Fry: What I Wish I’d Known When I was 18: http://vimeo.com/11414505

and just for the laughs, this Vicks Action 500 AD(by Anurag Kashyap apparently)

It’s been like really long since I blogged and despite trying to get myself to write I haven’t been able to. This quick post is a no brainer warm-up post to get me re-started on wordpress.

1) A super interesting read: Why Did So Many Successful Entrepreneurs and Startups Come Out of Paypal: Answered by Insiders

2) Soup Metrics: http://www.horsepigcow.com/2009/04/soup-metrics/

3) Hugh Macleod’s Random Thoughts on Being an Entrepreneur: http://gapingvoid.com/2010/02/28/random-thoughts-on-being-an-entrepreneur-2/

At the starting of this month I noticed a new option while creating a Facebook Fan Page and I wasn’t quite sure what was going on and what to expect next. It was yesterday when I stumbled upon this

that things started to fall into place. The info of this page (Electronics and Communication Engg. IIT Guwahati) reads

Our goal is to make this Community Page the best collection of shared knowledge on this topic. If you have a passion for Electronics and Communiation Engg. (Indian Institute of Technology Guwahati), sign up and we’ll let you know when we’re ready for your help. You can also get us started by suggesting a relevant Wikipedia article or the Official Site.

Guess that says it all

1. Make this Community Page the best collection of shared knowledge on this topic (Regularly updated/active Content? )
   Think of it, if there were to be a decently popular fan page(community page) on anything, say Yoga or Soccer then it would get updated regularly and would have tons of discussions going on it. This page on Soccer would have far more content than any other page on the same topic and it shouldn’t be difficult to guess the SEO juice it will derive and how advertiser friendly that page is going to be.
2. If you have a passion for Electronics and Communiation Engg. (Indian Institute of Technology Guwahati), sign up and we’ll let you know when we’re ready for your help. (Wikipedia?)
   Yes, another community driven page which could have a few administrators or content curators that’ll ensure that the activity on the community page is sustained.

So while everyone happily takes care of the content and discussions, facebook sells the ad space at a premium to advertisers and earns $$. That’s not it, to facilitate the creation of numerous community pages like the one on E &C IIT Guwahati, Facebook has started to automatically create community pages that are up for grabs and might be promoted via ads or news feeds in future.

So what do you think about this move by Facebook? Should Wikipedia be scared?

Update 1:  There’s something more to the move by Facebook around Community Pages. Apparently they’ve started re-categorizing the generic pages(non brands/company pages) as Community Pages. Here’s an email I received about one of the pages I had created a while back

Clicking on the link(for mis-categorizing) leads here

Does this move worry all those who created pages around various social objects/activities? I think so.

Update 2 (1/5/2010):

While logging on to Facebook for the first time yesterday, I saw this notification

As expected Facebook is indeed on a big mission to turn all the information into community pages. So now all the interests, favorite shows, books etc in my profile are linked to their respective community pages.

Another social wiki in the making

Update 3 (23/8/2010):

Just saw this.

The community pages now also have a Wikipedia tab which pulls in all the information about the subject from Wiki. Let’s see how things shape up from here.

Facebook Ads are something despite trying my best I find myself unable to ignore. In fact I think  my eyes are now always on a look out for conspicuous ads while I am on Facebook, and that’s how I noticed this ad

It’s not often that you get too see an ad like this one “Ashutosh Gowarikar is searching for an actor to play Siddhartha/Buddha. If you are male 20 to 30 years of age then audition now!”. This sure looks interesting. On clicking the ad you are taken to http://www.buddha-movie.com/

where you can find out some basic information about the film and fill up a form to apply for auditions.

This is a really simple and innovative use of using the online medium (mostly Social) to solve a problem(finding new talent) and generating a good buzz long before the movie gets on the floor

Buddha the movie is also on Facebook and Twitter

That new technology, trends etc take their own sweet(not so) time to reach and permeate the Indian market is a well known and accepted fact, and Social Media is no different. While marketing and advertising companies/teams from other countries(especially from the west) might have already dipped deep in the Social Media waters, their counterparts in India are no where close.

When Pepsi ditched Superbowl and chose to spend their budget ($20 million) on a Social Media campaign there were celebrations amongst the Social Media folks world over and everyone(Including we in India) felt that Social Media has finally arrived and the game has changed from being Traditional Media centric to Social Media being equally if not more important. If you think that’s the same with India (transition from Tradition Media to Social  Media at a considerable level), think again.

In the course of last year or so I’ve met numerous Social Media enthusiasts/marketers/analysts and quite a few advertising/media agencies and some guys who are in-charge of marketing campaigns for the brands they represent. Little has changed since last year if we talk about how people who offer Social Media solutions feel and how those who should be using those Social Media solutions feel. Despite all the jazz around Social Media, in India particularly brands are spending a bare minimum percentage of their marketing/advertising budget on Social Media. Not just this, what’s particularly interesting is the fact that in India some brands have started spending more(and not less) on Traditional Media. If these figures are anything to go by

you can get an idea of how things seem to be moving in the Indian market. We are increasingly spending more money on Traditional Media and it’s not just TV ads, the print media is also on a roll with Realtors and FMCG companies booking full page ads like anything.  It’s not just a co-incidence that there aren’t any remarkable Social Media campaigns around IPL despite all the hype and hoopla.

Keeping in mind all this and the response that these Traditional Media campaigns manage to get I would like to believe
that the days of TV-Industrial Complex are not yet over in India and it will be another few years before significant changes start to happen.