Categories
Business

Meeting Strangers: How to Prepare for an Effective Cold Meeting

Meeting Strangers

Ever been nervous meeting a stranger? Nerve no more!

Impressing a stranger on first encounter can literally change your life. Interviews are a good example. Others include sales pitches, freelance consultations, partnerships, supplier agreements and even dates.

They’re a necessity in life. So why not get good?

Here are some tips to get you started.

Research:

If you know who you’re meeting, take 10-20 min to Google, Facebook, LinkedIn & Twitter them. Ideally you’re looking for information related to the topic of your meeting. But you’re also looking for personal information such as achievements and common interests.

Look for media interviews & charity support. Do you both rock climb?  Have they recently been promoted? Have they achieved one of your goals?

Also do company searches on the web, Google News, Twitter and in your CRM if you have one.

Agenda

To Agenda or not to agenda?

An agenda is contextual. You wouldn’t do it in an interview, but you’ll never have a consultant from McKinsey or KPMG book a meeting without sending you one. My general method is for every meeting ask these questions:

  • If I set an agenda, what would be in it?
  • Will I remember to do all of the above without writing it down?
  • Will it benefit my prospect if I send them a copy? – If it will, send one. Consider adding a photo so they know who you are.

Basically the agenda should add value to your stranger. Usually, more complex meetings have agendas. This gives your stranger time to prepare.

On Arrival

Once you arrive at the meeting location – 10 minutes early – wait around the corner for 5 min then head to reception or the cafe to be seated. Arriving more than 5 minutes early can look disrespectful as opposed to eager.

But most importantly DON’T BE LATE! If you think there is a 50%+ chance you’ll be late by even a few minutes, call and notify someone. It looks way better to call and say you may be 5 min late, and arrive on time, then if you arrive 5 min late without calling.

The Lobby

After reception calls my stranger, I will stay standing until they arrive. Warning – if you take this road, be prepared for some long stands. But I feel it looks better than kicking your feet up on lobby couches.

Sweaty palms? I hold my folder with my left hand and keep my right hand in my pocket –dodges the slimy handshake. Remember eye contact and a smile on greeting. Stand tall, chest out, firm handshake.

If you’re in a busy lobby and you don’t know your strangers face, finding them can be awkward at times. Try and make the first approach, (it may take you a couple of times to get it right). Your stranger will be thankful for the awkwardness removal. Look for people looking for people.

Exchange some short pleasantries then ask where they would like to go (unless there is already a plan).

The walk

During the walk from the point of meeting to room or cafe, aim to walk side by side, and ask a few standard open ended questions like:

“Thanks for taking the time to see me. How has your day been?”

Don’t worry what they say – you’re just trying to keep them engaged until you arrive at the sitting location.

Try to find an anecdote (maybe something that happened on the way in or earlier that day) or common topic (the offices, building, location, current event or last resort – the weather) to keep them chatting until the sitting location.

Just try and avoid a long walk of silence.

Also, avoid discussing any important topics during the walk, interruptions are common and will kill your flow.

Personal Note: I like to treat all my strangers like a first date. I open doors, hold elevators and offer them the first seat. Don’t take this to the extreme but if the opportunity is there, unleash the chivalry (that goes for you too ladies!). This shows you’re attentive and will put in the extra effort if they partner with you.

Sitting Down

Once you arrive at the meeting table, wait for the person you’re meeting to sit down first (unless they offer you a seat – then just take it). If you’re already in a cafe waiting for them, stand and shake their hand when they arrive. Again, watch the sweaty palms, smile, eye contact etc. I usually like to sit at a 90 degree angle avoiding the formal face to face arrangement. This is not always possible but it makes it easier to look over documents together or to describe while writing on paper or using your laptop.

Once seated, give a business card to each person so they know who you are, how to spell your name (useful if you have a weird name like mine) and how to contact you after.

Then you’re off.

Do you do things differently?

Categories
Business Technology

Start-up idea: Marketplace for mechanics to help buyers purchase used cars

car question

I am thinking about a marketplace that would help buyers who know nothing about cars evaluate if a second hand car is a good buy or not.

You could create a profile and post the 3-4 cars you are considering.

Post details of their make, model, price and pictures or a video of the car and the engine.

You could then post a bounty for a mechanic to help you out, with a reward of say $50 (or whatever you choose).

Then similar to 99 designs, mechanics from all around the world could submit their reviews and advice on the cars.

Giving you questions to ask, feedback on your pictures and prices, links to other cars or whatever you may need to help you make a decision.

At the end of the process, you reward the most helpful mechanic the $50 prize.

I imagine this would be a great way for mechanics from all around the world to earn some extra cash and an easy way for buyers to protect themselves from getting ripped off on a shitty car that could potentially cost them thousands.

If you know of anything like this or are interested in building it let me know in the comments 🙂

Check out my real startup here.

You can see a few of my other startup ideas here, here and here, learn about why my first startup failed here.

Categories
Business Technology

Vitoto Officially Shutting Down

startup failure

2012 – San Francisco…

Vitoto was a failure.

It feels good to say that. There has been an air of uncertainty around the state of the company for the last few weeks, its nice to make a decision.

Firstly, I am proud of myself for taking the shot.

“You miss 100% of the shots you don’t take.”
— Wayne Gretzky

Categories
Business

Abstract Job Hunting – Using Google Adwords to land your Dream Job


thinkoutsidethebox

As an ex recruiter I know a thing or two about how to get a job. I’ve seen a whole bunch of crazy techniques people have used to land themselves their dream job. Some pretty cool, like creative web-pages, some completly idiotic like calling everyday saying “I have job”. I came across this video the other day of a SUPER-EPICLY-AWESOME way to get your next job.

The guy was looking to get senior  job at one of 4 or 5 firms, working for one of the executives. What he did was create a Google Adwords campaign, with the keywords targeted to the names of the Executives he wanted to work for.

If you dont already know, Google Adwords are the sponsored advertisments you see on the top and side of a Google search result. Its basically how they make all their cash. Take a look at the example below:

Google Adwords

The areas in the red are the areas you can “rent” from Google for a price per click. Usually in the 10c – $2 range. Oh and sorry about the funky language, I’m in Budapest at the moment and Google tracks your location to display advertisments close to you.

This guy bought the space for the executives names, so when they Google themself, his advertisment popped up on the top of the search and took them into his website of some sort, which I am guessing was a sales page / resume of him asking for a job.

Check the video he made of the experiement: (click here if you cant see the video)

For all his efforts (probably 1 days work) and money invested ($6) he ended up with two job offers! Genius!

Think of all the cool stuff you could use this for. Tim Ferriss used it for choosing the title of his book. Next time your struggelling to get past that gatekeeper consider the option of putting up a Google ad and see what happens. Now thats abstract living!

Categories
Business

Mexican Story – Four Hour Work Week

Girl-on-Beach-Hammock

This story kicks ass. Its from the Four Hour Work Week by Tim Ferriss.

I don’t think the lifestyle is for me I’d probably get bored, but the story has stuck with me.

The perspective is the complete opposite to my capitalist mindset so I like to think it brings me closer to the middle somewhere.

Enjoy!

American consultant was at a pier in a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellow-fin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.

The Mexican replied only a little while.

The consultant then asked why didn’t he stay out longer and catch more fish?

The fisherman said he had enough to support his family’s immediate needs.

The American then asked the Mexican how he spent the rest of his time.

The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos. I have a full and busy life, senor.”

The American consultant scoffed, “I am business consultant and could help you. You should spend more time fishing and, with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing and distribution.

“You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually NYC where you will run your expanding enterprise.”

The Mexican fisherman asked, “But senor, how long will this all take?”

To which the American consultant replied, “15-20 years.”

“But what then, senor?” asked the fisherman.

The consultant laughed, and said, “That’s the best part! When the time is right, you would announce an IPO and sell your company stock to the public. You’ll become very rich, you would make millions!”

“Millions, senor?” replied the Mexican. “Then what?”

The American said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

Categories
Business Technology

Start-Up Idea: TailSearch – Search for Retail Stores

One liner: 
TailSearch: Search for retail stores.

User experience:

  • iPad / Touchscreen TV positioned at front and around the store with a search bar / filters to filter down all items in the store.
  • There is a real-time map of the store with all the items in the store, and as you filter down, they break down and show you the location in the store of the item so you can easily find what you are looking for.
  • You can filter down men/women, colors, style, type, size etc… select tags, type in search etc…
  • User can easily search for any item in the store and be guided straight to it.
  • User can also download an app to their own phone and use that as a map around stores.
  • User can also search for all stores in area using the tech to see if items are available in other stores, can search from any device.

Store experience: 

  • Store purchases “security tags” similar to the ones that beep now. Tags are smart tags with geo locators.
  • Store sets up a geo fence so no need for expensive alarm beepers. Tags beep when taken out of geo fence, also alert is sent to store / security.
  • Store set up iPads around the store so people can search, store also entered into wider search network.
  • Store scans barcodes of items and then attaches tag. Users can access that data through search.

Monetization: 
1. Selling security tags
2. Selling monthly recurring to store for software / support
3. Making advertising / affiliate commissions from wider search network
4. Transition into POS and merchanting, take a commission on all sales.

Opportunities:
– Could crowd fund the product since its hardware (maybe? as its b2b)
– Clear acquisition targets (Google/Amazon/eBay)

Costs:
Lots of hardware bullshit to deal with
Selling won’t be easy
Medium-High switching barriers exist

Categories
Business Technology

Long SaaS Ramp of Death

Posting this here to remind me to watch it again. Amazing story from the CEO of Constant Contact.

Categories
Business Business Process Management

The Most Important Rule in Business

Everything you do in your business is a process. From customer service to sales and marketing. Being successful in business is all about optimizing these processes as much as possible.

Optimization is such an important area of business, but this critical area is often overlooked by business owners and CEOs amidst cries of “I’m too busy!” or “I don’t have the time right now—I’ll get to it eventually…”

See more at: http://theproductivitypro.com/blog/2014/04/guest-post-forget-perfection-strive-for-optimization/

Categories
Business

4 Reasons Why you Must Document your Business

This was originally a guest post I wrote on The Productivity Blog

Bad process documentation can kill your business dead. Here’s how:

1. Quality of Work

Documenting your processes is proven to improve quality of work. Dr. Atul Gawande in his bestseller, the Checklist Manifesto, presents facts that show using checklists in surgery has significantly increased success rates, resulting in tens of thousands of lives saved. He also shows how a wide range of industries from construction to venture capital have improved quality through documentation.

Poor quality work can destroy your reputation sending your customers running. No customers, no business.

2. Employee Turnover

We all know staff come and go. Keeping on to the good ones is important, but sometimes there is nothing you can do. When a key employee unexpectedly ups and leaves it can have a crippling effect, especially on small businesses.

This pain can further be accelerated if you, the business owner, has non-work related issues to deal with.

If this unfortunate circumstance is ever to happen to you, make sure you have your documentation in order and you just might get through it.

3. Rapid Growth

Growth is the most exciting phase of business. It’s the reward for all the blood, sweat and tears. But growth is a double edged sword. With big ups come big downs, and if you are not prepared to manage the growth, your business can implode on itself. Hiring and training new staff, processing larger order quantities, supporting more customers and opening new offices are highly complex processes that if done incorrectly can cost you lots of money or even collapse your business.

Ensuring you have processes in place to manage these growing pains is of the utmost importance.

4. Acquisition

If you ever want to sell your business, having proper documentation is of the utmost importance.

A prospective buyer wants to know the business they are buying is going to run effectively on its own, without you, the former owner having to be there.

Having your standard operating procedures documented can help you close the deal and even get you a sale price. While poor documentation could cause the deal to fall through.
If you still need more proof on the importance of process documentation, check out this book by Michael Gerber – The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It.

So what are you waiting for? Document or die.

Categories
Business Technology

Product Idea: Hairdresser Poncho with a Clear Window for Phone/Magazines

Hair Dresser Poncho

So I went to the hairdresser today and… you can probably guess the rest from the post title. I wanted to use my phone while getting a haircut and started to think why there was no clear window in the poncho so I could use my phone without getting hair all over it.

This kind of product would be perfect for a “Muse” (with appropriate testing first of course).

If you don’t know what a Muse is, its a concept from the book The 4 Hour Work Week, the book that inspired me to start my first internet business when I left to go travelling. It refers to a small business, usually internet based that requires very little energy to run once set up as you systemize all parts of the business (one of the things my startup Process Street is designed to help with).

I like the idea of this product because you could sell it wholesale to companies who supply hairdressers, creating a business with decently high revenue but only a few clients, 80/20 that shit (another concept from the book).

See Through Hair Dresser Poncho

I found the above image, its kinda what im talking about except for getting  a haircut.