The Surprised Entrepreneur turns Rebel Entrepreneur

What makes a rebel.

What makes a rebel.

“Judy,” a sweet tech project manager said to me recently after I discussed some of the gaps in the social marketing ecosystem “You are on a crusade.”

I didn’t see that one coming so it stopped me dead in my tracks. What crusade was that I wondered? I probed but she dodged answering me. The word crusade is laden with meaning so it stuck with me – what had I said to give her that impression?

In hindsight it seems obvious but in the moment, I was oblivious to the shift in my thinking from simply being a Surprised Entrepreneur (as I posted here) to becoming a Rebel Entrepreneur.

My cause was simple – to put the human element back into the business of marketing that has been platform’d to a near digital death. I am driven to re-infuse marketing with the sense of wonder, joy and creativity that I had the good fortune to revel in during my earlier career days.

In those ancient days (one generation after Mad Men but before the Internet revolution had really hit) we could put hearts into our work because there were few tools or platforms or technologies to guide the work. It was pure creativity and smarts. It was hard to measure the effectiveness of the much of the work but you knew your work made a difference when the company did better – jobs were created and bonuses were happily doled out.

Over the years, technology improved how we deployed marketing but we continued to be driven by our nobler motivations to create great marketing that improved people’s lives. We knew we could make a difference.

But there’s been a shift in the industry over the past 3 years. Marketing, especially social marketing has become a tech-heavy exercise of manipulating retargeting platforms, or reward systems or algorithmically based big data platforms. Social marketing is reduced to a conversation about content syndication or sentiment analysis.

So it’s no surprise that over that period of time, inextricably, I have seen tech and platforms taking the joy and the nobility out of the system. I have become overwhelmed by the supremacy of marketing platforms over serving people and algorithms over inspiration.

My sense of alarm was quite publicly aired in the digital pages of Ad Age and Huffington Post. I ranted at Facebook when I felt defeated at using Facebook productively. I admitted frustration at the black-box techno-jargon wave that swept over us marketers drowning us in confusion. I’ve even had the chutzpah to question the funding strategies of VCs who are basing their investments on marketing principles that simply don’t apply anymore. But mostly I challenged the 20 something CEOs who created marketing platforms that are long on cool but short on practical application for real marketers.

In the process, I have been:

  • Flamed by Macboys and called a hack (look up “Judy Shapiro” and “mac security”)
  • Accused of being techno-phobic and capable of only kitchen related work, ideally pregnant at the same time thus preventing me from ever writing offending articles ever again
  • Tarred and feathered as an “old line” marketer unable to keep up with the iteration savvy tech guys
  • Harangued for questioning if the “Content as king” model was sustainable
  • And very nearly digitally lynched when I first suggested in 2010 that perhaps Facebook had jumped the shark.

And so against all odds – here I am, founder and CEO of a social tech company, readying the BETA launch of our new network called Eden for Q1.

Against all odds, this little venture that started a year ago will be introducing a different type of social marketing framework that is a based on an “opt-in” paradigm. We are going up against the big “push based” social marketing platforms and networks. It is an uphill but noble fight. In our vision, Eden is a place where users control the action – how they see content or which brands they interact with. It is a reversal of the; “It is our platform so you have to play by our ever-changing rules” social network that dominates social marketing today.

Against all odds, we managed to secure funding including from an early stage VC for which we are eternally grateful. We’ve created relationships with agencies ready to sell Eden to their clients and we’ve sealed meaningful partnerships that help us gain access to the highest levels within publishing and brands.

Against all odds, as one woman in her 50’s, I am privileged to be joined by a community of seasoned marketers to help in this crusade. Our collective goal is to right the marketing ship listing dangerously to one side from the weight of platforms and big data. I can’t express my gratitude to this brave league of fellow crusaders other than to give them full credit for their invaluable role in our noble adventure. I give them a place of honor in our company’s history:

  • Peter Hubbell, CEO of BoomAgers and former Saatchi Board member. www.boomagers.com
  • Griffin Stenger, a founding partner of Concept Farm, a leading social marketing agency [Crain’s]. www.conceptfarm.com
  • Robyn Streisand, Founder and CEO of The Mixx Group – a branding agency and an early investor in engageSimply. www.themixxnyc.com.
  • David Hoffman whose career spans four decades as a film producer and corporate strategic communicator. Wikipedia’s simply calls David: “One of America’s veteran documentary filmmakers.” http://en.wikipedia.org/wiki/David_Hoffman;
  • John Bowman, was Exec VP Strategy at Saatchi working on their premier brands and is now authoring a book about his great Grandfather, Archibald Stark Van Orden http://theassassinsassassin.com/about/
  • George Collins, a long time database expert and CEO of Research & Response – a database management consultancy. http://www.rresp.com/
  • Mark Bonchek, Founder of Orbit + Co whose strategic consultancy is “creating a new direction in business by shifting the relationship of individuals and institutions from PUSH to PULL.” http://www.thinkorbit.com/

Against the odds, I have been able to attract a seasoned management team of  marketing practitioners who had to “build it” after the consultants talked about loving it but conveniently left when the real work began. They were the ones who built those first generation eCommerce sites and created the principles that good UE designers use today. Our journalists understand SEO and our artists are offering their images for free all in an effort to be a part in the creation of an alternate social marketing reality – a fresh start called Eden.

So against all odds, I find I have become a Rebel Entrepreneur – so strange especially given my training, temperament and age. The potential high rewards of being a rebel all too often comes at a high price and we’ve seen our share of deals gone bad, betrayal by trusted colleagues and funding plans gone awry (Sandy was devastating to the startup community).

And yet, despite the odds, we are close to the launch of our network.

So I invite you all over to Bit Rebel to experience this journey with us as we sprint to Eden’s launch in Q1. Celebrate our highs and feel the unnatural lows that are endemic to startups. Share our anxiety as our burn rate increases but our funding outlook seems further out (we are doing a second round of seed funding now). Take a peek behind the startup curtain, see what’s really going on and help shape what happens. The success of Eden will be a triumph of us marketing practitioners like web designers, SEO geeks and developers over algorithmic feats of IP muscle.

Our mission is noble and our cause true.  Come join us.

I guess like any good crusade, we need a flag and a manifesto. Stay tuned – I am just learning how to be a rebel. Kinda of exhilarating actually. But

Judy Shapiro

P.S. My rebellion gets its own website: http://judyshapiro.wix.com/rebel-entreprenuer. Viva Le Rebellion.    

The “turning point” moment that harkens a new beginning.

The life of an entrepreneur is an emotionally volatile one. The ups and downs are extreme because often so much is at risk.

As a newbie entrepreneur, I was especially battered recently by the wild swings of bad news and good news so as to make me ill with startup sea sickness.  Yet, as I began to get my sea legs; slowly the nausea was replaced with a serene inevitability that this little venture might, against all odds, make it.

It’s not arrogance that colors my thinking. Nor is it an irrational faith in my brilliant thinking.

But it is the realization that if I make it will be because of the community around me. The vision for Eden was to create a way for consumer’s to create a trusted web space starting with Eden Network – a social network of topic based communities that serve high search but badly served topics (e.g. karaoke).

The sheer audacity of my attempting a tech startup, in retrospective, was stunning. As a marketer, the notion of being a tech CEO was about as likely as me going bungee jumping any time soon. Sure – perhaps the opportunity may come up but it’s unlikely I would ACTUALLY do it.

Yet this venture was born of pure passion – actually passionate frustration at how there so much brilliant marketing tech innovation going on and a total lack of operational practicality in being able to use much of it.

But while frustration goes a long way towards driving me forward – it doesn’t make me a seasoned entrepreneur. I’ve made many rookie mistakes but I am encouraged to continue mainly because of the support of the community around me.

And because of the encouragement of my community, despite all the pitfalls and pratfalls, within the last week, I sense a fundamental shift.

I turned a corner.

Different key pieces are coming together in a way I could have never expected; brands are excited to participate in Eden Network; agencies are anxious to offer new social marketing options that’s easy for them to buy and monetize. Key management holes are being filled with ease and partners are approaching me with increasing volume making me dizzy with potential.

My community of friends and colleagues are the foundation upon which this venture rests. It is an honor to have such loyal and supportive friends. It is also humbling and inspiring to be sure I don’t let them down. Just a few weeks ago, I felt like I was in a free fall dive and now I am buoyed by a sense of “knowing” that we have a shot at making it.

The Jewish New Year is about to commence and for thoughtful souls, it is a time of acknowledgement and gratitude to all that we have been given.

In that spirit, it’s up to me to be sure that the community knows the depth of my gratitude.   May we be privileged to share a year of peace and awareness at how precious each one of us is within the community of humanity.

Judy Shapiro

The real effect of The Facebook Effect.

The last few days were eventful for Facebook and its ever so precocious young founder.

First, Facebook went public to much fanfare. Here is how the Mercury News summed it all up:

“After opening at a price of $42.05, shares of Facebook’s wildly anticipated initial public offering closed a mere 23 cents above its pre-set price of $38. The failure of Facebook’s shares to rise well past $38 was seen as a disappointment by some observers. Nonetheless, it remained the most successful technology IPO in history and set a record for the number of shares sold — more than 567 million — in a company’s stock market debut.”

Then before we could absorb that news we learn, in stark contrast to the hullabaloo of the IPO, our young CEO-HERO gets married before a humble gathering of 100 people ostensibly there to celebrate the bride’s graduation.

With two such momentous events surrounding our CEO-HERO, we saw endless stories about Mark Zuckerberg as the driving force of Facebook. Even more stories were written about whether Facebook was a good investment for individuals.

But what interested me more was really understanding what was Facebook’s secret sauce that made it worth a $100 B (“B” stands for breathless also – ya’ know). Why did this stock seem to defy all rational evaluation?

No one seemed to really answer that question well.

I knew early on (by about 2010) that social marketing and Facebook were going to be powerful when I observed: “social media was not just a tactic to be tacked onto the backside of a traditional campaign”. Yet everyone, me included, was surprised at the speed of Facebook adoption. It was breathtaking.

Many ascribed that stellar growth to the brilliance of Mark. Yet, it just did not feel right to me to assign Facebook’s unprecedented growth to his vision or drive alone. I give the kid credit – but giving him so much credit just left me unsatisfied.

And because everyone ascribed Facebook’s stellar growth to some alchemy borne of CEO-HERO brilliance, people are willing to suspend critical thought to its value and its future.

For me, the Facebook mystery deepened. At a most fundamental level, why was Facebook worth so much?

The answer came to me in a blinding flash from a recent Harvard Business Review article (“Your brain on Facebook” ) that describes the neuroscience behind Facebook’s meteoric rise. In fact, “a decade’s worth of work reveals some unexpected quirks of the brain that all link to one big idea” – we are social creatures with a “social brain” and that drives a lot of behavior in a lot of unexpected ways.

“Here’s how the social brain works. There is a “default” brain network that is always “on” and it is involved in thinking about yourself and other people.  When not doing anything else, the brain’s favorite pastime is to think about people. We actually have to suppress the activity in this region when we want to do any active processing, such as doing math.” But in the absence of any other cognitive activity – our social brain kicks in!

This explains why Facebook can capture so much of our attention because, neurologically speaking, we are wired to be addicted to being social and “connecting” and “liking”. And like any other addiction, the reward centers in our brain seek ever more satisfaction just to stay “normal.” If you spend a lot of time on Facebook, you are basically “high” all the time. That makes it really hard to focus, think deeply, or perhaps learn something new.

Now that gives a new spin to the term The Facebook Effect because we are, in effect, wired to become Facebook junkies.

That explains, for example, the irrational exuberance the market places in Facebook’s future. It also puts a new spin on Mark Zuckerberg’s success. No doubt he is clever but maybe his real luck was that he became the first efficient digital distributor of social addiction.

Gives one pause – doesn’t it? As well it should and you would not be alone. More and more “resisters”, people to who shun Facebook, are coming forward as an emerging trend. More and more, people are getting ready to kick the Facebook habit:

Over 82.2% of people would not pay for Facebook according to a HuffingtonPost poll – April 25, 2012

-  As Facebook grows, millions say, ‘no, thanks’ – USAToday May 16, 2012

-    “Facebook Loses $10mm From General Motors – HuffingtonPost May 17, 2012

-  Silicon Valley Can Do Better Than Facebook – TechCrunch May 20, 2012

What’s next for Facebook as it starts business Monday morning as a public company? I have no idea but while many of us may be hooked on Facebook now – it only takes one disruptor to knock the addiction from our system.

The only question is who or what will that be.

Judy Shapiro

The surprised entrepreneur – The last moment I can allocate GRATITUDE Grants

I am surprised how fast shares go in a startup company that people are excited about. Our plan is mostly done and the investors have begun to make overtures. My total ownership has been happily whittled away to include the wonderful talent this company will need.

I gratefully allocated shares to our president who is deeply experienced as both an entrepreneur and a VC. I was deeply honored when our CTO, who gets hundreds of business ideas in a year but only considers “one or two,” signed up.

Ever so carefully, I identified the key talent we would need and one by one each person on this amazing team is coming onboard with their allocation. Yet until we officially close our first round (scheduled for February), I’ve still got ability to allocate shares pretty much as I want.

But not for long.  

Now, much to my surprise, I realized how very quickly my ability to make unequivocal awards of shares will be gone. Now is the last moment I have to express my gratitude to people who have believed in my ability to create a new way forward in marketing.

So with the urgency imposed on me by our first formal funding round, I have barely a few weeks to share these gratitude grants.

I get to tell my dear gentle creative storyteller, a giant in the business of video, how valuable his lesson was in the meaning of video to create a powerful experience.

I finally get to ‘give-back’ to my “hard core” (hehe) entrepreneur, investor and civil liberties activist friend. She taught me perhaps one of the most important lessons in this space – the focus needs to be about creating shared experiences using content rather than solely focusing on the content. It is a powerful mind-bending insight that has deeply shaped how engageSimply develops its concept.

I can go back and reconnect with some of my ex-colleagues and CEOs who, over the years, inspired me, instructed me when I just didn’t get it and generally invested in me by teaching me ever so patiently. I can’t imagine how I would be doing this without their support and faith.

In the end, each gratitude grant is my way to repay the gift of confidence that each person so unselfishly gave me. It helped me turn a blind eye to the limitations imposed by stereotypes about what a tech CEO looks like (age or gender) or should do.

Over the next few weeks, I will have the distinct privilege and (one time only) opportunity to award these gratitude grants – without justification or encumbrance. To those of you on the list – stay tuned.

Lots of people track “firsts” (e.g. first investor, first alpha) – I want to note the “lasts.” I want to acknowledge these last few precious moments when I have full control of my company and I can still allocate equity as I want. This privilege is fleeting likely not to be ever repeated.

I best be sure I don’t leave anyone out. What a happy chore.

Judy Shapiro

If you think social is not affecting you – think again.

Just saw this very funny image. Look carefully - but if this doesn’t speak to how social media is changing us – think again.


 

The Surprised Entrepreneur – Why Me?

These posts about my journey with this new venture are often characterized as a surprise. In fact, it’s a surprise on so many levels that the unlikeliness of this enterprise is, in itself, a pretty big surprise.

So in this sea of surprises – the biggest surprise rests in the unlikeliness of me as the one to coalesce this vision; only useful to ponder so that we know what makes us different from many other marketing tech companies out there today.

Clearly I am an outlier given my age, gender, training and temperament causing even the casual observer to wonder: “Why me?”

On the surface, one could point to my diversity of experience spanning B2B and B2C marketing. I’ve been fortunate to have worked in a diversity of industries spanning advertising (NWAyer), technology (Bell Labs, CloudLinux), software (CA, Comodo) and telecommunications (AT&T, Lucent, and Paltalk). The combination means I have a quirky understanding of how to look at a marketing situation from the brand point of view as well as the end-user perspective at the same time.

O.K. – That begins to answer the question but doesn’t wholly get at it since many of my colleagues are tech savvy too. While they express curiosity about the new marketing technology, they aren’t going off and creating new businesses.  Instead, most of my friends leading marketing agencies or marketing departments (like I was) are banging their heads against the marketing brick wall trying to figure out how to incorporate the “new” technologies into the “old” system profitably. In the chaos of “creative destruction” (a term coined by economist Joseph Schumpeter), my peers can’t see the marketing forest for the financial trees.

So again I ask; Why me?

In digging deeper, I then realize that my experience with communications networks gave me a unique understanding about social networks. Both types of networks serve a similar purpose – the efficient transport of a call or a marketing message from the network edge (the initiation point) through the switching stations along its way to its ultimate destination.

Side by Side Comparison: Telecom vs Social Media Network

It also became clear to me that as social networks evolved into a powerful marketing network – it urgently needed system architects. But I saw no hint of any serious understanding of the issue or how to address it – not at the agencies or the social network companies or even the armies of consultants who offer insights but few tactical road maps.

When at first I noted this architecture gap back in 2010, I wondered out loud in Ad Age about the impracticality of integrating new technologies into existing marketing systems in posts like “Five Trends That Marked TechCrunch Disrupt Conference 2010.”  Then, my wonderment continued unabated at the lack of system attention when I wrote: “Has Facebook jumped the Shark”. Actually, I was writing mostly in the hopes of uncovering the technology companies that were focused on solving this system gap. I knew someone had to it…

But all I heard was deafening silence. I seemed rather alone in recognizing the utter futility of trying to retro-fit the older marketing system with the newer technologies. The sheer tonnage of all these new marketing “platforms;” so defined because they incorporated some combination of the mighty  local, social, mobile triad; were built by technologists (usually under 30) and not marketers. This meant they were long on cool but pathetically short on practicality. Yet as slim as many of these businesses seemed, they were getting valuations disproportionate to their real world usefulness (think Groupon), further highlighting the underlying weakening of the business of marketing.  It was an ominous echo from a decade ago.

This explains “Why me.” It takes depth of experience to see beyond the buzz to the potent marketing model evolving. I wanted a role in that evolution largely because it seemed few of us with any real world marketing experience were doing the heavy lifting of operationalizing the brilliance of all this new technology.

The journey to understand “Why me” is useful in that it defines the business we are in – creating the system upon which the rich marketing innovation engine can flourish.  It’s a surprise that it is me – but perhaps, this is the sweetest surprise of all.

Judy Shapiro

The surprised entrepreneur – I’m having the time of my life.

I am not sure what I expected to be doing at this point in my career. I have been blessed to have been at the center of the changing, blossoming technology landscape of the last 20+ years.  My earliest days were at an advertising agency called NW Ayer which gave me a broad perspective on Corporate America’s practices, problems and possibilities for triumph. I then gracefully made my way into the tech stars of Corporate America itself with stints at AT&T, Bell Labs, Lucent Technologies and Computer Associates. I also had the great good fortune of working at small innovative technology companies led by visionary innovative leaders. Two prime examples include Melih Abdulhayoglu, CEO of Comodo and Jason Katz, CEO of Paltalk.

This unusual combination of corporate marketing experience coupled with the feet on the streets training born of working at tech startups, gave me a balanced perspective of how the marketing business is evolving in this technology driven world.

So here we are.

The marketing business is going through a fundamental shift that throws into question almost every tactical practice built over the last 20 years. And, amazingly, it seems that just as marketing becomes this new discipline that weaves creativity into an interactive user experience that is tech heavy – it’s a perfect fit for my peculiar type of networking meets technology marketer experience.  

This seems nothing short of extraordinary. Which is why I am all the more stunned at the work I am doing today. I had not planned on any such seismic move in marketing, so I certainly did not plan on launching a marketing tech venture.

But here I am.

My journey has been one of surprising excitement at the possibilities in marketing excellence that was simply not possible before. The vision of this venture, therefore, is to take advantage of these new trends to deliver a sustainable and productive “marketing machine” (a phrase I attribute to Melih) that can turn the tables on how marketing gets done.

In our vision, we don’t approach monetization like Google or Facebook’s who are about pushing more accurate marketing messages to consumers. We are looking to deliver a marketing platform that lets consumers decide what content they see, what ads they see, how their social networks are managed, how they conduct commerce, even how they communicate within the social networks. The organizing principle for this platform is not ad-driven monetization but oriented around Judy Consumer. Our vision is to create the kind of system that we want to live with for the next 10 years . In effect, we want to give Judy Consumer the tech power to create her own personal “Trust Web.”

To the few friends we have shared our vision with – all have come to a similar conclusion – it is an ambitious (maybe too ambitious) vision. They are correct. But as I entered marketing in the 1980s most of marketing at first was human powered with marketing systems emerging later on.  

And here we are – again.

This next generation collection of marketing technologies is rich in creativity but is not organized for sustainable marketing programs for brands. This is work that I, among others, are focused on – creating v1.0 systems to operationalize the business of social marketing.  

We are all at just at the beginning of this journey and it’s a journey I didn’t expect to be taking at this point.

But here I am – and much to my surprise – I am having the time of my life.

Judy Shapiro

The Twitter Secret for business. The simple, definitive “why” of Twitter – Rant #2.

Back in July, I wrote this first rant called: The Twitter Secret – why & how to use Twitter for B2B and technology businesses. Rant #1, where I give a detailed explanation of how to use Twitter properly in business applications. By now I would have thought most people would have figured out the “why” of Twitter.

But no.

Back in July, when I wrote this post, The Pew Institute reported that for 2009, Twitter awareness was at a remarkable 80%+ but usage was relatively low at around 7 – 8%. People tied themselves in knots to explain it. Many suggested that Twitter’s relative youth accounted for its low usage numbers and that surely over time, its influence would only grow.

Guess what. A year later and the latest Pew Institute usage numbers for 2010 say Twitter is still at 8%.  This time around, it’s harder for people to explain it away in the same way. So now a new crop of answers try to explain the awareness/ usage gap.

Therefore, in the interest of efficiency, I will explain the secret of Twitter in 140 words or less (yeah I know I am cheating – so sue me).

Twitter is important to you if:

  • You need to distribute a lot of content, e.g. media people, reporters, PR/ publicity folks,  agency folks, marketers, analysts, bloggers AND online commerce site
  • You need to consume a lot of content, , e.g. media people, reporters, PR/ publicity folks,  agency folks, marketers, analysts and bloggers
  • You want to outreach to specific media/ people in your industry
  • You want to outreach to specific customers or customer groups
  • You hope to develop a better way to hear customer input
  • You hope to figure out what Twitter is REALLY good at, write a book and get rich :)

So unless you fall into one of the categories on this list, don’t worry about Twitter for right now. It’s probably not that crucial to your business. Go ahead – you can definitively cross this question off your list. Now you know.

Happy new year!

Judy Shapiro

 

The Surprised Entrepreneur – Diary of new venture – Entry #3:

“Mama never told me there’d be weeks like this…”

It has been a while since my last entry and I am relieved to say it is mostly for good reasons. Over the last few months, this little venture has begun to take hold – to wit:

  • I have been on the speaking tour about The Interaction Engine capping it off with a spiel at ad:tech this month.
  • We have closed two new clients – one in the consumer electronics space and one in the mobile app space.
  • I am getting better at presenting our system in meetings – now I can kinda explain it in about 30 minutes. It still falls far short of the 2 minute elevator pitch – but hey – we are getting better.
  • A number of marketing and technology companies have contacted us to “partner” – not sure what that means though
  • We have done a few presentations to media buying agencies as they are challenged to “buy” social media. They are interested in working with us (again – no idea what that means)
  • Most important – revenue is beginning to accrue

Yet, despite the clear progress and momentum – I recognize the utter fragility of this venture. Of the dozen or so folks that are part of this company – most (but not all) are getting paid some compensation. No one is getting what they deserve – yet.

But my biggest challenge is that as we get more noticed, there are far more opportunities that need to be assessed and prioritized. Fundamentally, these opportunities run along three basic lines:

  • Technology Partnerships – there are 4 companies that we are talking to now in the marketing technology space. These companies are anxious to partner with someone like us because often these tech companies have no easy distribution channel. A cool recommendation engine is nice – but it’s hard selling a “stand-alone” technology to a big brand or agency. As a quasi “system integrator” of social media technologies – they see our Interaction Engine as solving this major channel issue for them.  thsi is not a pr 
  • Funding Options – my initial plan was to sell the Engine we have now (does not require any development) to generate about $500K in revenue. While that plan is still in play – I realize that getting to that sales threshold might take longer than I can wait to begin the second phase of this company – to develop/ sell “self-serve” integrated social media programs to SMB via web hosts. I am encouraged by experienced colleagues who tell me I can go get funding now with what we have. TBH, I am still unclear whether any VC would consider this investable. My colleagues are so confident that this can get funded that they are willing to spend their own time over the next few months to work on this. On the one hand, that’s a funding gift that I would be crazy to reject. But on the other hand, it will still require my time for an exercise that I’m not convinced will have a successful outcome. Getting VC funding is a huge time hog – not matter who helps you. I keep wanting to put it off or get a traditional loan to ease the short term cash crunch. this is since this is not any way understand how to make this spaceing this work. it is frustating to say the least but this need
  • Media Alliances – Unlike most other marketing technology companies, I focused on the technology platform but I built it within a holistic system that includes an organized set of content assets from a diversity of publishers. To me, content is not king – but rather the juicy bait to start the engagement process which is why I had to collect relevant content assets. So while I spend a considerable amount of time building these alliances – there are many more people looking to partner with us because so many content producers and writers have been caught in the tumult of “freep” (free and/ or cheap) digital content distribution. In our system, these folks have a voice and a stake, so we solve a problem for them too. The problem is deciding who we can take on.

Most interestingly (and yes – it is a surprise), it seems that our Interaction Engine System (a coordinated, tech mashup of a monetizable “community of interest”) is an approach that can integrate disparate marketing activities into an operational program. In essence, instead of pitching an individual program to a client where I have to plug into their operations – we are being seen as our own ecosystem and other marketing programs and/ or technologies have to plug into us. I won’t say I planned it that way – but I am loving how this is playing out.

Now on to my biggest “what’s keeping me up list?” for this entry:

  • Knowing which contacts are worth pursuing on the tech front, on the funding front and on the editorial front. The response to my presentations has been great – but overwhelming actually.
  • Keeping the pressure up on the sales front –  our issue now is too many great leads and not enough time to follow them all up.
  • Keeping the team motivated and monetized – always a struggle whether you are a new company or an old one

The next four weeks tend to be intense because marketing budgets are being finalized so we need to keep the pressure up – yet people’s mind are on the holidays. This requires an elegant and thoughtful approach to sales (I hope we are up to it).

Day after day, it seems the ride I am on gets more thrilling, more scary and more substantial. As the stakes keep going up, Mama never told me there would be weeks like this where too much is happening too fast. But I guess that beats the other option: too little happening too slow; by a mile.

“So dear Mama – I am grateful you taught me to appreciate a good ride when I see one which is exactly what I am doing  - even though it feels like I caught a tiger by the tail.”

I don’t intend to let go now.

Judy Shapiro

The Surprised entrepreneur – Diary of a new tech venture – Entry #2

The roller coaster ride feels thrilling and yet …

Last week I had some ups and downs. I was happily surprised to be asked to speak at ad:Tech NY this November and I got my press credentials approved for the Clinton Global Initiative. The Social Media Technology Resource Guide is coming along and the team is working hard on creating the Sports Community of Interest for a few properties. On the sales front, we closed a small client that is doing interesting things with their mobile site. On the product front, our CTO – Louis Libin ideated for a way to provide an “overlay” to existing sites using a combination of social media technologies that we put together. It’s a great way to capture our “systems” approach to social media within a marketing environment. This is all good :)

On the down side – I have to cancel a Sept 28 Meetup event we scheduled to launch the Social Media Technology Resource Guide site. We are delayed by about two – three weeks :(. I developed this free guide as a directory of social media technologies since I could not find one anywhere (and my apologies if one exists – I could not find it). I am more bummed about this than I should be. After all, the delay was because we are pitching some really excellent clients. That is always good. But I am disappointed that I am delayed nonetheless.

At a more philosophical level, though, this set-back triggered one of my bigger challenges — managing the extreme highs and lows. Good things taste almost too wonderful – disproportionate to their “real” good news-ness. And inevitable bumps that occur feel more extreme than they should. I know not all CEOs suffer from this – they are more even-keeled. Some compartmentalize to keep things in check. I see why that might work – but it’s not me. Still groping around on that one.

But on the positive side,  more than anything, this time of year is special to me. Yom Kippur is just over and with it comes a potential for a new start. It is a time for refocused purpose, re-organized thinking and re-energized gratitude for all the people that are helping/ rooting for me. It is incumbent on me to hang onto to the intense feeling of positive potential that characterizes this time of year for as long as possible. I hope to rise to the occasion but I credit myself with a fair amount of talent in that department.

Now – onto the “what keeps me up” list:

  1. Creating a simple way to communicate what we do -this is a carry over from last week and it remains a top priority. Some good progress on one hand but nothing substantive yet.
  2. We have quite a few follow up conversations coming up soon. This is good news but they want to see “under the hood” which leads me back to point #1.
  3. I see an undercurrent of “downsizing” already going on in the social media space. Bigger companies are buying up smaller companies if they are in any way related to social media, especially on the technology side. On the one hand – these roll ups don’t worry me at the moment because they lack a cogent system for integrating the technologies (programmatically if not literally), but I worry that there will be too much consolidation too fast leaving just really big guys and then lots of tiny fish. Hmm.

Now, how am I doing against the milestone list I posted last week:

  • 3 page executive summary of engageSimply with financial outlook – some progress but not as much as I would like.
  • 1 signed client using the entire new Interaction Engine platform – new “sports” channel may be first one to launch or Trust Web – but tantalizingly just out of reach (a note of frustration intended here).
  • Initiate discussions with at least 2 possible funding partners – no progress
  • Get website up to date – no progress
  • Expand sales funnel to having 20 active leads in pipe – added 2 more
  • to write in this diary a minimum of once a week or 8 entries (hey – I need some wiggle room J) – so far so good.

OK – all. I am off for now. As always your comments are welcome.

Judy Shapiro

This is post #2 in a series on the life of a new tech venture (and its CEO). Wish us luck. .

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