Friday, June 28, 2013

What fishing taught me about business.


Despite the fact that I live in NYC I am to be able to fish quiet often. We pull largemouth bass out of the lakes in Central Park, Striped Bass from the East River and I get to go off shore fishing south of Long Island for really big Tuna and Mahi Mahi.
Some time-tested approaches to fishing turn out to work really well in business, and here are some tips:
1.    Always have lines in the water:
 
Last summer I was lucky enough to get on a friend’s boat at 3:00 AM to go 100 miles out to the Hudson Canyon for tuna fishing. After the 3 hour trip to the appointed spot we discussed at length the underwater topography using GPS, the surface temperature of the water looking for “breaks” that hold bait fish and discussed at length what kind of rig to use – all trying to increase the chances of our success.
One astute member of the party said “Hey guys – if don’t get some lines in the water I guarantee you that we will have 0% chance of catching fish.”
My take-away for business is to always be engaged in activities that can lead directly to revenue generation, or have “lines in the water”.  Do not get overly distracted with strategy, planning and lots of internal meetings at the expense of actually conducting your business. 
2.    Learn to read the water:
Fish of all sizes, from small trout in Colorado streams to trophy stripped bass off Montuak share on trait – they’re predictable when it comes to feeding. Fish like to sit in still water next to moving water or on a “rip line” when looking for food. It limits their need to expend energy while seeking their next meal. Also makes for an excellent place to fish.
So I’ve learned to “read the water” in business – to know where concentrations of business opportunities might be. Like going to industry events and “meet-ups” where smart people are talking about innovative ideas. People feed there on these ideas, and it’s a good place to start business conversations.
3.    Try everything in the tackle box:
From my dry flies / nymphs for trout to “spreader bars” that target giant blue fin tuna I have tons of different tackle. People ask me all the time “What’s going to catch the fish?” I can honestly say I have caught fish on every lure / live bait rig I own – but I can never tell what is going to work or when.
So like in fishing – I change up my sales and marketing approach / offer often when it is not producing the desired result. Some entrepreneurs call it “pivoting” your business model. I like to try different approaches until I “hook up” as we say on the boat.
4.    Be patient and enjoy the process:
I have a really short attention span, and get frustrated when I don’t succeed. But getting upset about not catching fish has an inverse effect on actually catching fish. Somehow they just know! So I now I like sit back and enjoy the view and solitude when fishing. Once in a while I actually catch some nice fish. That why it is called “fishing” not “catching.”
So in business I try to enjoy the process of meeting and talking to lots and lots of people. Once in a while they turn into clients and profitable business relationships. Then I can yell “Fish on!” – oh wait, I have to save that for this weekend on the boat.

Wednesday, June 5, 2013

Last year when the Dollar Shave Club came out with its streamed ad I wasn't sure if it was some clever spoof, a parody or a legitimate way to address a real marketing opportunity in a really fun way.

The original spot "Our blades are f***ing great" is clever and memorable. It has garnered over 10 million views on You Tube to date, and created a legitimate business. It won the "Best-Out-of-Nowhere Video Campaign" at the 2012 Ad Age Viral Video Awards.

The company is based in Santa Monica, CA and delivers personal grooming products, such as discounted razor blades by by mail. The company operates on a member subscription for home delivery model rather than selling through traditional retail channels. It was founded by Mark Levine and Michael Dubin in July of 2011.

But enough about their business - they guys just jumped into the shock-and-awe school of marketing with their brand new video “Let’s Talk About # 2” promoting their new product “One Wipe Charlies” – a butt wipe made for men. No kidding.
While they kept the same irreverent approach that won them so much attention the first time around – they really stepped over the line of acceptable taste with both this product and the promotional video. A better way to wipe your bottom – did anyone wake up this morning with this “need state?”

I think they could have addressed lots of other more pressing HBA needs of men – like a cheap version of Minoxidil for hair loss or body wash for guys over age 25. We all know there are plenty of laughs waiting at the expense of bald guys with BO, delivered in a really nice and tasteful way of course.

But what do I know? The new spot has over 442,000 views in its first 24 hours.