The business plan

As we might have mentioned we are currently developing 2 web applications and for the last few weeks we have been mastering the business plan. It was always there but now it is as close to perfect as it is going to get. It can be really frustrating writing a business plan; basically you sit in front of your computer for days brainstorming clever ways to make your idea look brilliant. But an idea is only a fraction of the process of making a company a successful one, the execution is 99% of the whole process.

Last night I started reading a book that a fellow entrepreneur lent to me called “Founders at work” it is about founders of startups such as 37 signals, Hotmail and many more. The first chapter is about how PayPal became successful and eventually was acquired by eBay for 1.5 billion dollars. The initial idea was making a Palm Pilot payments and cryptography company (whatever that is). But soon after they got investment from Nokia Ventures, they changed their business model completely. Max Levchin PayPal’s co-founder claims that the main reason the investor didn’t freak out was because they belived in the team and saw that it was obvious that they were able to adapt to different circumstances.

What I take from the PayPal story is that innovation isn’t only one idea that you develop and hope that will become a success. It is series of innovative ideas that might sculpt your idea into a successful business. So even if our business looks solid according to the plan, I am keeping the option open that in the near future we might change it completely.

Branding and politics

Tomorrow is the deadline for applying for the job of “brand communication manager” – a position in the UK Conservative Party’s General Election campaign team.

Regardless of what one thinks of politics, the Conservatives have been running a very successful rebranding campaign since David Cameron took the helm in late 2005. He even changed the logo to a tree when going green was still ahead of the curve.

It will be interesting to follow the general election here in the UK from a “branding” perspective and to see how Labour will react to the tree hugging conservatives.

Of course, in politics, an overzealous emphasis on branding has a name: Spin.

Let’s hope no party’s position of “brand communication manager” will evolve into the position of “spin manager”.

Ikea parody video

I happen to love www.youtube.com and I can get lost in there for hours looking at various videos. The other day I was listening to Owl City songs and then I saw this video with some guy who made his own version and video of the song. Check it out:

If you watched the whole thing you might have noticed a question in the end: “What’s your fave store to get lost in?”.

I immediately thought that this could be a great slogan for an Ikea commercial. The song fits perfectly. I visualize a couple or roommates picking up everything they need to furnish their apartment and getting lost in the process and discovering the wonders of Ikea!

Judging by the reaction from the Ikea employees however, this campaign will probably never be made.

Google Goggles

Google Goggles is a new application from Google for android phones. I took a look at their promo and it looks good. Hartmut sounds a little bit like a German character in South Park, but the video is brilliant. The next step would be to get an android phone for Christmas!

Trump, the brand

Last night I started reading a book I got for Christmas in 2007 from my good friend K-dog. I think this might be the greatest book ever written. This is no ordinary book, it teaches you how to think big and kick ass! That is what I want to do with my life, I want to kick ass! The author is Donald Trump and Bill Zanker. I have only read around 30 pages. Bill seems to be doing most of the writing because so far he has only been complementing Trump on how awesome he is.

It says in the book that Bill hires Donald to do a tour with him and pays him 1.5 million dollars for a lecture that takes one hour of his time. That is not too shabby, even for a billionaire. I think it is safe to say we have found the most valuable trademark in the world! And it is Trump.

Personally I find Donald Trump very entertaining. And I have watched a few of his apprentice shows. In my opinion 1.5 million for one hour with him, is a bargain. So I am definitely going to read the book because when I am done reading it, I will think bigger and kick more asses!

Donald is a born entertainer, this is what I call nurturing your investment.

Lady Gaga the branding genius

Lately I have been listening to Lady Gaga. I might not be the target audience but I must admit that I like to listen to music that has a good beat, so a mix of pop and rock, works for me. At first I didn’t think too much of her musical skills, and I thought she was the creation of some marketing genius. “Let’s dress her up like a prostitute, market the hell out of her and reap the rewards.”  But after hearing her tracks like Just Dance and Poker Face a few times I decided to give her a chance. And I did a little research.

Apparently she has been playing the piano since she was 4 years old and she has studied music. She writes her own material and writes for others. She has written songs for Fergie, Britney Spears and even Michael Bolton, which I find weird. Listen to the Michael Bolton song here, like Perez Hilton says, he murdered it.

This video changed my perception of Lady gaga:
http://www.youtube.com/watch?v=oP8SrlbpJ5A

Being talented is one thing but being successful is another. Using her background as a burlesque dancer, her passion for music and her provocative attitude, she has created a persona that is unique. You might say her personal branding is impeccable. I’m even starting to appreciate the way she dresses – not that I ever disliked it.

Please, sir, I want some more

In John De Bello’s classic movie “Attack of the Killer Tomatoes” from 1978 a voice on the radio is advertising beer: “Schmidt – Because you’re never too drunk to ask for more!”

In a sense this joke captures the essence of why companies care about brands.

When you have a strong brand, your customers can

• Discover you
• Recommend you to others
• Ask for more

In fact, as we mentioned in an earlier post, the first ever registered trademark in Britain was for a beer brand: The Bass Ale Red Triangle. Registering the Red Triangle provided the brand with legal protection. Bass knew that if customers would see the Bass Red Triangle on any pub sign or bottle of beer, that triangle was in effect the company’s promise of a certain experience for the customer.

These days it’s not just signs on pubs and labels on beer bottles. And it’s not just the logo. To apply a brand today a company needs a way to consistently apply any part of their identity wherever their audience is. This could be a logo on a coffee mug, a template for a PowerPoint presentation or animations for digital banners. Or even a radio commercial in a remake of a classic B-movie.