A Venture Idol Experience

I recently competed in a very interesting, educational and fun contest called Venture Idol. I wrote a article about the experience which was published recently in Inside Indiana Business, a daily newsletter on events of interest.

The following is the full version of the article.

Until next time - all the best!

RolandB

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A Venture Idol experience
By Roland Bydlon - Director of Marketing, ParaPRO LLC

Many of us have heard the term “elevator pitch”. You get on an elevator with Bill Gates and you proceed to explain your company’s big idea or reason for existence before he gets off in 60 seconds or less. Think you can do it? I had the opportunity recently to make that pitch in a public forum. The event was the Indiana Venture Idol competition and the audience was over 200 investors and business owners tasked with evaluating and voting for a winner.

I survived the first round and made it to the finals but unfortunately ParaPRO did not win the $10,000 grand prize. What I did “win” was renewed confidence in our message, invaluable exposure for our company and, most importantly, renewed faith in the ability of teamwork to create a result that is greater than the sum of its parts.

Life teaches us that successful businesses are built by people that are passionate about what they do. Research has found that in the best companies the owners, and individuals in sales and marketing, customer service, even the back office are able to distinctly communicate what their company does and how their job fits in with investors, customers, vendors and other employees.

Venture Idol was hosted by the Venture Club of Indiana and the Indiana Economic Development Corporation (IEDC). It was advertised as a unique, exciting competition that enables young entrepreneurial companies to compete for a $10,000 grand prize – plus the chance to showcase their innovation, market opportunity, and passion before a live audience of leading Angels, venture capitalists and entrepreneurs. Venture Idol was designed to allow Indiana companies to shine in front of a national audience.

The risk was you could also fail in front of a national audience.

As part of process for getting participants ready for the competition Bruce Kidd and the IEDC paired each entrant with a coach to initially critique the presentation on a one on one basis and then provided a forum where individuals could “dry run” their presentations in a friendly, controlled environment.

When I found out ParaPRO had been selected to compete. I wrote my 60 second and 5 minute presentations. Participants would present an expanded 5 minute presentation if they made it past the initial round. I practiced it numerous times, on my own. Even gave it to my dog, Sadie as we walked around the neighborhood. She was very appreciative. I was confident and ready.

My coach stopped by for our initial meeting. I gave my pitch. He told me I had a great speech. Too bad it was 3 minutes long. My 5 minute talk came in at about 10. My slides were confusing. My talk was missing the mark.

I went back to the drawing board simplified, rewrote, and practiced – now it was on to present to a group of 6 observers most from different backgrounds than health care.

ParaPRO is developing a product to treat head lice. A key benefit we hope to prove is that the product will kill lice and eggs. Parents will no longer have to comb out nits. I went into my story about nits and combing and time and frustration.

One of my coaches commented, after telling me I was way over the time limit, why don’t you just say that ParaPRO will eliminate nitpicking! BINGO! Here was an interesting way to summarize a benefit and get audience participation in a very short period of time. I was comfortable, had a tested message and had weathered the storm. Now I was ready.

The actual event was fun. I enjoyed having the opportunity to spread the word about our product, our company and how we were creating value in Indiana. It was a great day.

It never would have happened without a few individuals (you know who you are) that had the time and the patience to coach a passionate and nervous individual (me) to concisely tell a story that I knew very well but did not have the experience “performing”.

The event was a win for ParaPRO, a win for the attendees and a win for Indiana.

Here are my take aways from the experience:

• Develop a message
• Practice it in front of smart people
• Listen to their feedback
• Take risks, spread the word about what you do
• Have fun & enjoy the ride

The following are some selected lines from a poem I copied many years ago and have carried with me (author unknown)
To laugh is to risk appearing the fool.
To reach out is to risk involvement.
To expose feelings is to risk exposing your true self.
To try is to risk failure.
But the greatest hazard in life is to risk nothing.
The one who risks nothing, does nothing and has nothing.
Only the one who risks is free.

Roland J. Bydlon is Director of Marketing at ParaPRO LLC. ParaPRO is a privately held, specialty pharmaceutical company. Their first product, a promising new medicine for the treatment of head lice, is currently under review by the FDA. More information can be found at ParaPRO website

What We Can Learn From The Election Campaigns

I read an excellent post this morning that was written by Uriah Av-Ron on critical things to do in digital marketing - for that matter marketing in general. Whoever you supported in the presidential election I think you will agree that Senator, now President-Elect Obama ran a very good campaign, connected with his key supporters and raised a record amount of money for his campaign

Mr. Av-Ron offers 5 suggestions.

1. Maintain a consistent brand message
2. Use Social Networking and other means to talk to your customers and allow them to talk to you
3. Address customer pains - keep in short, relevant and consistent
4. Seek out new market opportunities
5. Implement strategy with tactics - all tactics must tie back to an overall strategy
   

Have a plan. Change it slightly if and when you need to but maintain an overall plan, measure the results and stick to it.

I copied the entire article below.

Until next time - All the best!

RolandB

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What We Can Learn From The Election Campaigns
by Uriah Av-Ron, Thursday, Nov 13, 2008 7:32 AM ET

As a U.S. citizen, I am inspired by this election process which culminated in President-elect Barack Obama's historic victory. And as a publicist working in digital marketing, I found a lot of valuable learning experiences from his campaign that are extremely relevant to online marketers.

1. Maintain a consistent brand message
In this election year, when a campaign could edit and upload a video to YouTube in less than an hour, Obama showed a level of consistency of message that is unprecedented. Though the Obama team did respond to challenges and opportunities from Sen. John McCain's campaign, the overlying message of change was consistent throughout.
This consistency was accentuated in the final month of the campaign by McCain's inconsistency following the financial crisis on Wall Street. First McCain stopped his campaign to take care of the crisis, and then flip-flopped by participating in the first debate a week before Congressional bailout plan was passed. Even Obama's even-tempered disposition during the three presidential debates stood in stark contrast to McCain's tempo, facial expressions and pacing.
In reviewing some of Obama's initial online videos uploaded onto YouTube from early 2007 and 2008. The messaging theme of "change" was already evident in these early videos.
By maintaining a consistent message, Obama also managed to deflect some of the challenges to his campaign, including his lack of executive experience and his association with William Ayres.
As marketers, we all too often have the urge to change something -- a tagline, ad creative, a messaging point -- with something newer. But as we can learn from the Obama's campaign, in this case, change isn't necessarily a good thing.

2. Use of Social Networking
We keep hearing that social networking websites are only good for branding campaigns, yet Obama raised much of his $600 million war chest using social networking. That's quite a result for an ad vehicle that's not supposed to generate results.
I suspect the secret here is in inspiring passion. The challenge for most marketers is that the products or services we are marketing don't inspire passion among the masses. But even if our products or services don't inspire passion, we can all find a way to tie our products or services to ideas that do inspire passion. For example, for a client in online publishing, I'm pitching a charity drive where monies are raised and donated to support literacy. A component of this effort should involve having my client's employees become personally involved in a literacy outreach. There is nothing like the inspiration derived from helping a little boy or girl learn to read.
But a charity campaign is only one way. There are many ways to inspire passion in our customers and communities. And as good marketers, it's up to us to figure out ways to inspire passion.

3. Address customer pains
I watched Obama's response to President George W. Bush's State of the Union Address from January of this year on YouTube where he referred to a sagging economy and problems in the banking system. Though Obama didn't make the economy the main issue of his campaign before September, he clearly understood the importance of economy in the election. And of course, Americans were ripe for change.
In contrast, McCain focused on a range of issues including Iraq and earmarks, which did not resonate with enough Americans.
So when was the last time you spoke with one of your customers? I have learned some of my best marketing lessons from conversations with customers. Marketers should speak at least once per week (if not more) with customers.

4. Seek out new market opportunities
The two main ways to increase sales are to (a) increase your share of the market, and (b) to look for new markets where you can increase your sales. But how many of us expected to see Indiana in the list of markets Obama would pursue?
One of the reasons cited for the Obama campaign's primary victory over Senator Hillary Clinton is the presence of an Obama organization in almost every state. Obama used this organizational advantage to win most of the primaries held immediately after Super Tuesday. He then took the lead in the delegate race and never looked back.
Again in the national election, Obama had strong organizational networks in place in a number of states that had voted for President George W. Bush in 2004, including Virginia, Indiana, Florida and North Carolina. These efforts enabled registering millions of voters and encouraging them to get out and vote.
So how can marketers tap into new markets? There are no easy answers here, but it takes an open mind that's willing to look in unconventional places and through partnerships that enable opening new market opportunities.

5. Implement strategy with tactics
In difficult economic times, there is a tendency to forgo strategy and focus on tactics. But the best tactics are an extension and implementation of a properly defined strategy.
Obama focused on a consistent message centered on a strategy of change and utilized defensive tactics to marginalize McCain's challenges in the face of his own messaging.
In the final month and a half of the campaign, McCain focused exclusively on a range of changing tactics in attempt to improve his poll numbers.
Specifically in the current economic climate, digital marketers need to define strategies that will carry them through the next couple of years and develop tactical plans that will enable them to deliver according to the strategy.
In his concession speech, McCain showed his dignity and humility which have characterized the bipartisan spirit of his tenure in the U.S. Senate. Just maybe, that tone, tempo and messaging, minus a Wall Street crisis, could have brought about a different result.
Av-Ron is the founder/partner of www.oasis-pr.com, an Internet & technology-focused PR agency.

Are you LinkedIN?

I was reminded several times over the past few weeks of the value of LinkedIN or other social networking sites. I reconnected with several good friends from my past. They "found" me over LinkedIN. I had dinner with a old friend last week in San Diego that I had not seen in years. I had breakfast with a fellow submarine officer that is here in Indianapolis.

I'm up to 194 contacts and I am not really trying.

It is a great way to stay in touch with business collegues. You never know when you may need one.

Until next time - all the best!

RolandB

A visit to the license bureau

This is a note I sent to Matthew Tully, the political reporter at the Indianapolis Star today.

I went to renew my driver’s license today. Not a big thing but something I don’t look forward to. The last time, 4 years ago, I stood in one line to check in, waited for 45 minutes, stood in another line to take my eye exam, stood in another line for my picture and another line to pay the bill. The entire visit was over 2 hours of frustration.

I visited the Nora branch today over my lunch hour. There were only about 10-15 people in the office. I was helped immediately. I was out in 15 minutes. The thing that hit me was the mood in the office. Everyone was smiling!! “Tell your friends we have the best branch in Marion County”. The staffer told me.

Wow – things have changed at the license branch.

My profession is marketing. One of the first lessons one learns is if you want your customers to return listen to them and treat them well. I never thought a bureaucratic organization like the license branch would make me smile. I don’t know how the governor and his staff did it but they have created a great organization at the license branch and deserve to be congratulated.

Now how do we get the same spirit into the Post Office?

Roland Bydlon
Indianapolis

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Politicians always seem to promise something and then come up with reasons/excuses why it never happened. The license bureau has been the whipping boy of inefficient government for the 20 years that I have lived in Indiana. I find it energizing that things are improving.

Yes Virginia, there is a Santa Claus. You just have to look and appreciate the many small things that are improving our lives on a daily basis.

Until next time,

RolandB

Proactive Word of Mouth

I read a very good article over the weekend on Word of Mouth marketing. It was published in the April 15 edition of Marketing News (American Marketing Association). The article titled “Spread the Word” by Michael Krauss discusses Paul Rand the CEO of the Zocalo Group. Zocalo Group has put in place a series of proprietary templates and frameworks for clients to establish a strategic and tactical approach to word of mouth marketing.

The key principles are: (taken from the article)

1. Own a position: Articulate an ownable position for your company.
2. Map the story: Create a sharable story that puts your case forward
3. Identify influencers: Define and connect with the advocates, including customer evangelists, industry thought leaders, recommenders and determined detractors.
4. Engage: Engage with influencers online and offline.
5. Measure: Evaluate the program impacts.
6. Sustain: Invest only in sustainable word-of-mouth programs.

A key part of this is to make WOM measurable and methodical. Implement regional campaigns some with WOM and others without then measure your results. How much response are you getting and at what cost? There are a number of ways to perform the measurement. The key thing is to measure.

Also interesting that influencers include determined detractors. As the saying goes keep your friends close and your enemies closer.

Good advice.

Until next time- all the best!

RolandB

Should Marketing Executives Blog?

I have been asked by a number of individuals, "why do you blog?" and "how do you find the time to blog?" Probably the best reason is that I blog because I find it interesting. It gives me a chance to experiment with a channel that is growing exponentially. It allows me to participate in a dialog with other interested persons I may not see or touch by other means. I am learning a lot and I think in the long term it will help me professionally by helping me explore ideas for promoting my business and also personally by helping me meet and establish relationships with some very interesting people. Social networking via Linkedin is helping there as well.

I came across the following article by Dan Schawbel titled "Should Marketing Executives Blog? Dan provides good rationale why executives in small and large companies should consider blogging.

If you want to know what people are saying about you (and/or your company/product) you need to be part of the conversation.

Until next time - all the best!

RolandB

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Should Marketing Executives Blog?
By Dan Schawbel

From the board room to the cubicle, there have been very few discussions about the role marketing executives should have when it comes to social media and blogging. At its core, social media breaks down communication barriers within an organization and allows a company to talk directly to stakeholders like never before. It provides an opportunity for businesses to change the way they interact with customers and receive feedback. Social media’s effect on the world of business was once a threat and is now inescapable.

As the size of companies increase, corporate governance over blogs becomes more convoluted. There are a few reasons why this happens. First, enterprises have the largest and most complex legacy processes. Second, they have sustained business growth without ever implementing a social media program, which makes them less likely to switch over. Finally, their labor force is of great mass and spread globally, which makes the message harder to control and blogs impossible to monitor.

Smaller companies, especially startups, have an advantage because they are starting to emerge and develop their businesses and can readily include social media components in order to achieve their growth goals. In each situation, the face of the corporation is directly tied to that of each employee, with an even greater impact at the executive level.

The Truth Comes Out
There is a lot of speculation in the blogosphere about whether marketing executives should blog. One train of thought is that if they were to blog it wouldn’t be authentic or transparent. Some assume the message would read as spin, typically included in press material. People automatically label marketers as people who are just spitting back corporate messages that may or may not be true. Are all marketers liars? Well, one thing is for sure, when you are actively involved and participating in social media, the truth does come out. If you aren’t true to your subject matter, then you and your company will endure bad publicity.

If you think there are no marketing executive bloggers out there in cyberspace, think again. Some are under your radar, while others are out in the open. Randy Baseler, VP of Marketing for Boeing, was one of the first marketing executives to actively blog. He posts about twice a week, with an average of 20 comments per post and about 460 blog reactions on Technorati.com (trackbacks). Then there’s Rohit Bhargava, who is a SVP at Ogilvy and Mather, and owner of the Influential Marketing Blog, which has over 5,000 subscribers and has given him the opportunity to speak at almost every high profile industry event. Both bloggers promote research, thought leadership and advice before even mentioning where they work.

Like Rohit, many marketing executives choose not to dwell on their own corporate template websites. Gary Bembridge, VP at Johnson & Johnson and C. Edward Brice, VP at SAP, choose to keep their personal identity, but also contribute knowledge from their fields. Social media is most prominent in the technology industry, with companies such as EMC, HP, and IBM, who all have formal blogging programs. Marketing executives, such as Chuck Hollis (EMC), Eric Kintz (HP) and Surjit Chana (IBM) have been highly regarded and received by partners, customers, journalists and even competitors. In this way, they have humanized their businesses and their roles.

The Benefits of Blogging
Blogging has been a great decision for marketing executives who don’t understand the basic fundamentals and want to get a feel for how the medium works. Ted Demopoulos, co–author of Blogging for Business, says, “All Marketing Executives should consider blogging. They need to understand social media marketing techniques, and there is no better way than first hand experience. If they don’t want to blog on something related to their profession, they can start a ‘throw away blog’ on an unrelated topic in order to gain familiarity with the medium.“ Aside from an unrelated blog, they can do a private blog or an internal blog, behind the corporate firewall. If the marketing executive isn’t aware of social media, then their organization will suffer.

There are even more benefits for marketing executives. Some of these benefits include positioning power and recognition in both traditional and new media sources. In a recent Brodeur study, over three quarters of reporters see blogs as being helpful in giving them story ideas, story angles and insight into the tone of an issue. Also, involvement within an organization can help a marketing executive gain visibility or a sales force deliver its message. Social media is a channel where the reader does more than respond to products or new and innovative ideas, they also observe and listen.

I think Jackie Huba, co–author of Citizen Marketers and the blog, The Church of the Customer, said it best, “I see no reason for a company not to blog, unless they’re sleazy. Companies have a unique opportunity in time to speak to consumers in a human voice. Provide understanding, clarity and void of corporate bunk. It’s an amazing time to be in Marketing, Communications and Advertising. There is no reason for a company not to leverage this channel to build credibility, loyalty and add humanity. I write this from an airport while dealing with flight delays, so trust me – a corporate blog and humanity does (and could) go a long way.”

So, the answer is yes. Marketing executives should absolutely blog.

Dan Schawbel is the leading personal branding expert for gen–y. Dan publishes Personal Branding Magazine and Personal Branding Blog. He is also the first social media specialist at EMC2 and has seven years of experience in marketing.

Common Sense

This news story came out this afternoon. The air passenger rights law was drafted and approved after hundreds of passengers were stranded at New York City airports a few years ago due to bad weather. Passengers were on planes, stranded within site of the gate, for hours without access to food or fresh water after the plane ran out. The airplanes would not go back to the gate because they were afraid they would lose their place in line. People were so mad they slammed the airlines and politicians got involved by passing a state law. It was a public relations and word of mouth disaster.

Now it seems the airline industry got the law overturned. Are these companies more fearful of lawsuits or angry consumers? Seems the fear of lawsuits won.

I’d like to see a gutsy airline guarantee that they will operate as if this law was in effect. Tell consumers that they matter. Then use the pledge as a way to differentiate their service from everyone else.

Which airline would you rather fly on??

It just may work.

Until next time – all the best!

RolandB


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Court Overturns Air Passenger Rights Law
By LARRY NEUMEISTER (Associated Press Writer)
From Associated Press
March 25, 2008 1:11 PM EDT

NEW YORK - A federal appeals court has rejected a law requiring airlines to provide food, water, clean toilets and fresh air to passengers trapped in a plane delayed on the ground.
The 2nd U.S. Circuit Court of Appeals ruled Tuesday that New York's new state law interferes with federal law governing the price, route or service of an air carrier. It was the first law in the nation of its kind.

The appeals court said the new law was laudable but only the federal government has the authority to enact such a regulation.

The law was challenged before the appeals court by the Air Transport Association of America, the industry trade group representing leading U.S. airlines.

A true hero

I had the honor of attending a party celebrating Don Moreau’s 20th birthday this past Friday. Don is a “leaper.” It was his 20th February 29. If you count the years since the day he was born on February 29, 1928 he was turning 80.

I did not know Don before the event. His daughter-in-law is one of my son’s (Kyle) teachers. My other son (Tim) did his Eagle project in support of HVAF, one of Don’s favorite charities, so there are a couple of degrees of separation between us.

Sue and I went to the event to show support for HVAF and Don. What I came away with was appreciation for a man that will stay with me for a long time.

Don volunteered for the Navy on this 17th birthday in 1945 then spent over 27 years in the Navy then the Army retiring as a full Colonel. Over the course of his military career he participated in World War II, the Korean War and the conflict in Vietnam. After his retirement he settled in Indiana and worked for and with five Indiana governors (both Republican and Democrat). He was in charge of the Indiana Toll Road and the Indiana State Fair for a time. He was the project director to build a monument to honor the Indiana natives that died in Korea and Vietnam. He was the president of HVAF, an organization supporting homeless Hoosier veterans during a critical time in the organization's existence.

The master of ceremonies was Joe Kernan, a former Indiana governor. One of Don's men from Vietnam, Governor Bob Orr’s widow, Don's cardiologist, the current director of the Indiana State Fair, one of Don's granddaughters, a state senator, a representative of the current Indiana governor, a representative of the mayor of Indianapolis and finally Don's son Bill all gave short speeches about Don and what he meant to them.

The common theme was Don stood for integrity, love of family and friends and hard work. Don saw good in everything (every room full of manure had a pony somewhere). Everyone mentioned that Don’s energy and “can do” attitude was contagious. People around him performed better because of him and they were there to thank him.

Finally all the tributes were done. Bill (his son) announced that food was being served and thanked everyone for coming.

They were not going to let Don say anything …………… (I guess they were worried that the crowd would die of hunger – Don was not short on words)

Don stood up; he had been sitting on a chair on the stage, and began to address the crowd. “I don’t need a microphone,” he said, “Can you all hear me.” Of course everyone laughed. Don is at least 6 foot 6 inches and has a booming voice. I want to thank God for getting me here he said. Then this gentleman of numerous talents paused, looked over all of us and said I just want to thank you. I could never have accomplished anything if it hadn’t been for you. (I don’t know if those were his exact words but that was the intent). I don’t think there was a dry eye in the place.

Special mentors of mine throughout my life have told me to study people you admire, find out what makes them tick and copy them.

In this age when the news is filled with politicians trying to destroy each other, businessmen treating colleagues like Donald Trump treats interns and many people feeling teamwork is more about being a survivor than finding a win/win solution I find it nice to know that Don Moreau and people like him still exist.

Happy Birthday Don. I hope I am invited to your 25th birthday.

Until next time – All the best!

RolandB

Its share of voice

I heard a news story recently that Toshiba might discontinue the HD-DVD format. It seems a number of movie studios have decided to put all of their future movies on Blu-ray which is developed by Sony. Best Buy, Netflix and other retailers are going exclusively Blu-ray. Looks like Sony may be on the winning side of this “war”. A few of us may remember the VHS / Sony Betamax battle in the 1970’s that Sony lost.

So what happened?

Is the HD-DVD flawed in some way? Why did Blu-ray (if this news story is correct) win?

A scattering from some recent blogs
Wal-Mart Stores Inc. has decided to exclusively sell high-definition DVDs in the Blu-ray format, dealing what could be a crippling blow to the rival HD-DVD technology backed by Toshiba Corp. The move by the world's largest retailer, announced Friday, caps a disappointing week for HD-DVD supporters, who also saw consumer electronics chain Best Buy Co. and online video rental company Netflix Inc. defect to the Blu-ray camp. http://www.computerworld.com/action/article.do?command=viewArticleBasic&articleId=9063061&intsrc=it_blogwatch


Blu-ray has won. That’s what everybody is saying ... I find it interesting how this all unfolded. Toshiba backed HD-DVD. Sony backed Blu-ray and put it in the PlayStation 3. The movie studios were split. But Blockbuster moved first and said that Blu-ray was outselling HD-DVD movies, most likely thanks to PS 3 sales growth. Then Warner Bros. announced in January that it would stop making HD-DVD movies and focus exclusively on Blu-ray ... if Toshiba pulls out, a lot of consumers may finally get off the fence and go with Blu-ray. http://www.mercextra.com/blogs/takahashi/2008/02/16/hd-dvd-vs-blu-ray-its-over/


So it looks like Sony put Blu-Ray on the PlayStation 3 and demand for products with the technology went up. The tipping point may have been when Warner Brothers decided to go with Blu-ray


The interesting thing is that Blu-ray may not be the best technology

Unfortunately, Blu-Ray is far from ready for general consumer adoption. Profile 2.0 players, the players that actually do everything they are supposed to (and everything that even low-end HD DVD players did), are few and far between ... [and] pretty much universally suck ... Pirates of the Caribbean and Ratatouille take a full 2 minutes just to load on most standalone players ... Sure, I may buy into Blu-Ray eventually. But it looks like it's gonna be a while before it's capable of doing what it should... http://games.slashdot.org/comments.pl?sid=455592&cid=22439048


So why is Blu-ray winning??

It appears the marketing team has implanted a strategy that resulted in more positive share of voice for their technology. This resulted in positive public relations which led to exclusivity deals and more positive PR. Blu-ray now has momentum and is viewed as the technology of the future. People want to go with a winner and not get stuck with last year’s technology. The market may have already and decided quickly. As a result Toshiba can’t catch up and may cut its losses. Several financial analysts have said that Toshiba stock went up when word leaked they may discontinue HD-DVD technology they have invested hundreds of millions of dollars in.

The market is littered with superior technology that got trounced. Think Apple vs. Windows.

Depending on your political leanings Rudy Giuliani and John Edwards were both credible candidates for President. Both lost the share of voice battle and had to drop out of the race.

Going forward
As you look at your marketing strategy some good questions to ask may be;
Who is my target customer? How much share of voice do I need to break through the clutter and achieve my marketing objectives? What are the possible tactics and how much will I need to invest to achieve that share of voice? What are the repercussions if my competitor wins the share of voice battle?

Now I have to decide when to replace my one year old HD-DVD player.

Until next time – all the best!

RolandB

An experiment

The more I learn about various facets of Web 2.0 and search engine optimization (SEO) the more I am impressed with the power of the Internet to begin and facilitate a conversation with interested customers and also with the ability of search engines to find pieces of data from anywhere on the web.

This is a small experiment to test a theory. The following is a bit of information about a product that we are currently developing to control head lice. More information about ParaPRO and our new product can be found on our website at www.parapro.com.

I am interested how widely and how quickly this page is distributed over the various search engines: Google, Yahoo, Cha Cha etc.

If you have questions about what we are doing please let me know. As always, thanks for reading this blog.

Until next time – all the best!

RolandB


Description

ParaPRO is developing a crème rinse containing a family friendly formulation that is lethal to head lice. The active ingredient is derived from a naturally occurring soil organism and was awarded the Presidential Green Chemistry Challenge award to recognize its innovation in cleaner and smarter chemistry. The product, tentatively branded NatrOVA™, is currently being tested in FDA approved clinical trials.

-30-

Be specific, concise & memorable

While skimming the electronic media today I came across an article on visionary leadership. The slightly edited article is included below.

Many people have told me that you need a 30 second “elevator speech” for your company, each product, and even for yourself. The idea is if you get on an elevator with a key customer can you tell him/her what you do and why they should buy your product/service before the elevator stops.

Carmine Gallo takes it one step further. Do it in 10 words or less and he provides some good examples of how a specific, concise and memorable vision has captured hearts, minds and success.

Until next time – all the best!

RolandB

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Be a Visionary Leader
By Carmine Gallo

Extraordinary leaders, managers, entrepreneurs, educators, and professionals create an emotional connection with their listeners by articulating a vision so bright, so magnificent, the rest of us cannot help but come along for the ride.

Build a Vision Not a Statement.

Don’t confuse vision with a mission statement. A mission statement is a long, convoluted paragraph. A vision, on the other hand, must be memorable and must have impact. Therefore, it has to be simple and profound. The challenge is, of course, attaining both. So how do you do it? By keeping your vision to ten words or less.

Sell It – Fast!

The folks at Sequoia Capital, the prominent venture firm behind such companies as Cisco, Google, and Apple, call it “the one–liner”: a concise statement that tells people what you do. Condensing your vision into ten words or less reflects your command of the business and your market. As one venture capitalist told me, “If you can’t say it in ten words or less, I’m not investing, I’m not buying, I’m not coming on board, I’m not leasing you space. Period.”
It might sound harsh, but this venture capitalist makes a good point. We all have audiences that we need to influence. Whether they are customers, employees, landlords, bankers, or investors, they want to understand you and your message – fast! They need to “get it” so they can decide whether your company, product, or service is worth exploring.

Articulate Your Pitch – a couple of good examples.

Google - “We deliver the world’s information in one click.”
Cisco Systems - “We network networks.”

It’s the power of your words that will ultimately feed your audience’s imagination and encourage them to back your vision and values. If you can articulate a compelling vision of the world that is specific, concise, and memorable, you will not only have grabbed their attention, but you will have captured their hearts. And where their hearts lead, their minds are sure to follow.

Carmine Gallo is a communications coach for the world’s most admired brands. His book, Fire Them Up! contains insights from top business leaders who inspire through the language of motivation.

Six degrees of separation

Six degrees of separation is the theory that anyone on the planet can be connected to any other person on the planet through a chain of acquaintances that has no more than five intermediaries. The theory was first proposed in 1929 by the Hungarian writer Frigyes Karinthy in a short story called "Chains." Playwright John Guare popularized the phrase when he chose it as the title for his 1990 play of the same name.

You may be able to jump start your search by knowing people that know high powered people and so on. In theory you can get a message to George W. Bush by knowing someone who knows Governor Mitch Daniels (Indiana) who then will deliver it to Bush. You probably can get a message to any politician in Washington if you know or know someone who knows James Carville and/or Mary Matalin (the political consultants). If you want to reach Peyton Manning you may be able to reach him through Tony Dungy, his coach, or Eli, his brother, or Kyle DeFur the president of the Peyton Manning Children’s Hospital.

I bring these examples up because I have recently been experimenting with the social networking site LinkedIn. My son is having fun with Facebook and I have been reading a lot about the value of social networking so I signed up on LinkedIn, a site for professionals, a couple of weeks ago. About a week later I got two messages from individuals I had not heard of for a while asking me to “connect” with them. It was fairly easy, click a link and it’s done. This weekend while exploring the site I came across a tool that would identify names in my Outlook mailbox that are LinkedIn members. The tool provided an easy way to “connect” with any or all of them. I sent out a few messages and in a very short time had over 50 responses!

What makes the site really interesting is the way it helps you potentially contact individuals. You type in the name of someone you would like to meet. If he/she is a member of LinkedIn the site will identify the easiest path to contact them. For example one of your contacts may also be a contact of the person you want to meet. It will also tell you how many “degrees” you are apart.

This should be a great way to start a conversation or at least find out some background information on people you are interested in conducting business with.

Click here for my LinkedIn information and let’s get connected.

Until next time – all the best!

RolandB

Understand your customer

Rick Bailey and Sam Waterson gave a presentation at the American Marketing Association (Indianapolis chapter) today on best practices in marketing for not-for-profit corporations. Before I get into some of the detail I was intrigued by Sam’s title. He is the “corporate ethnographer” at Richard Harrison Bailey – the agency. I was impressed and needed to look up what an ethnographer did.

eth·nog·ra·phy (ěth-nŏg'rə-fē) Pronunciation Key n. The branch of anthropology that deals with the scientific description of specific human cultures.

It seems Sam studies various sub populations particularly the generation X (32-43 year olds), generation Y (21-31) and millennials (under 21) and observes how they receive and perceive information.

He discussed ‘how do you speak to a millennial?” My ears perked up – I need a few lessons on how to speak to my 17 and 13 year old sons. The typical dinner conversation is
(Dad) “What did you do today in school? “
(Son – either one) “Stuff”
(Dad) “What do you know now that you didn’t know this morning?”
(Son) “Nothing”

It seems, according to Sam, that millennials are much more “cause” driven than their parents or generation X and generation Y that preceded them. He suggested that marketers are selling products (such as jeans in Gap stores) by wrapping their products in a cause. Millennials will feel they are helping starving people in (name a country here) by buying specific products from that area of the world. He said that companies with products helping a distinct cause and a popular spokesperson (i.e. Bono) can do well with this group.

Now how can I turn cleaning the bathroom into a cause? I don’t think this will help much with my teenagers.

A major nugget I did take away is that marketers must really understand their target audience. A private college trying to recruit students actually has several different audiences with many different concerns. Therefore messages need to be targeted and segmented to each group. Students (time rich and money poor) may be looking for a place to spread their wings and try new things. Parents (time poor and money richer) are looking for a safe place for their children that they can afford.

Know your market, segment the message and make it easy for your key customers to communicate with you.

If this were easy everyone would do it. Ask your ethnographer.

Until next time – all the best!

RolandB

Indiana - good for business!

I had the opportunity to hear Bruce Kidd (Director of Entrepreneurship at Indiana Economic Development Council) and Nate Feldman (Indiana Sec of Commerce) speak at the Life Science lunch in downtown Indianapolis yesterday on business development in Indiana and particularly the Indiana 21st Century Fund.

ParaPRO was awarded a 21 fund grant of $2.1 Million last fall.

Some Highlights for 2007
1) 51 companies have been given 21 fund awards for a total of $65.4 Million since 1/1/06
2) Awards are given to companies with “market changing technologies”
3) 47 are entrepreneurial companies
4) 26 awards were given to life science companies for a total of $33.7 Million
5) The 21 fund is providing leverage to help companies raise additional capital. Companies awarded 21 grants since 2006 have raised an additional $150 Million
6) 44 Life Science companies have been approved for the VCI tax credit and have raised or are raising $80 Million (investors get 20% of investment back as credit on state taxes)

2008 Goals
1) Invest in 20-25 high potential new deals from the 21 fund = $25-30 Million
2) Support 40-50 SBIR Phase One companies and 6-10 Phase Two companies = $5 – 6 Million
3) Approve 60-70 companies for VCI Tax Credit and provide $7-10 Million of credits to investors
4) Create hundreds of new high wage jobs
5) Have a positive impact on our economy and in people’s lives.

More information on the IEDC and 21st Century Fund

The overall theme of the meeting was optimism. A few years ago a variety of speakers both in government and private industry were talking about what we should be doing. Now they are talking about what we are doing, why it is working and how we are going to make it better.

We may not have many natural lakes or mountains or oceans in Indiana. I am proud to say we have an improving business climate and a rapidly growing base of entrepreneurial companies. It is fun to be part of it.

Until next time – all the best!

RolandB

Appreciate the moment

I was driving into work this morning and heard the following poem “The High Water Mark” on The Writer’s Almanac narrated by Garrison Keillor.

The poem touched me. How many times have we lived through something and did not really appreciate the significance of the event until years later. Only then did we say gosh I’d like to do that again and this is what I would do differently.

I had an opportunity a few years ago to launch a couple of prenatal vitamins using a national sales force. My team at Integrity Pharmaceutical Corporation did a fantastic job and the products were very successful. A key new ingredient DHA is now a staple in both OTC and Rx prenatal vitamins. We learned a lot and as time passed many of us have ended up in different places and looked back at that unique time in our careers.

I have been blessed and now have the opportunity to launch another product in a different area using new techniques. I need to remind myself to appreciate the moment. I wonder what would happen if I just let go and drifted downstream …..

An interesting thought.

Until next time – all the best!

RolandB

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Reprinted from website.

Poem: "High Water Mark" by David Shumate, from High Water Mark (buy now) © University of Pittsburgh Press, 2004.

High Water Mark

It's hard to believe, but at one point the water rose to this level. No one had seen anything like it. People on rooftops. Cows and coffins floating through the streets. Prisoners carrying invalids from their rooms. The barkeeper consoling the preacher. A coon hound who showed up a month later forty miles downstream. And all that mud it left behind. You never forget times like those. They become part of who you are. You describe them to your grandchildren. But they think it's just another tale in which animals talk and people live forever. I know it's not the kind of thing you ought to say... But I wouldn't mind seeing another good flood before I die. It's been dry for decades. Next time I think I'll just let go and drift downstream and see where I end up.

Goals for 2008

Thanks to all who have been reading my blog. Sorry it hasn’t been updated as often as I would like. Something to work on in 2008.

At the end of Mass this past weekend the server offered the blessing “May all of you achieve your goals during 2008.” My wife whispered to me, “may all of us set some goals in 2008.” She was thinking of our two teenage sons but it got me thinking, what are my goals, both professional and personal, for 2008? I'm thinking of something much more than a new year’s resolution. What do I want to accomplish this year, how am I going to do it, and how am I going to know that I've done it?

I’ve mentioned Kevin Eikenberry several times over the past few months. A few weeks ago he posted a very informative tool on his website. “Make your 2008 Great: 26 Remarkable Questions to Unleash Your Potential. A copy can be downloaded here.

The tool is a list of 26 questions each on its own page. Kevin offers some helpful tips on how to answer each.

This week I am working on the first 13 questions which are reflection questions from the past year. The rest of the month I plan on working on the next 13, projection questions for 2008 that hopefully will help me draft goals and action plans that are challenging and achievable.

My feeling is successful individuals go through this process in some way to build from their past experiences to achieve results in the future. This tool is helping me organize my thoughts much better than if I would start with a blank sheet of paper. It also is a tool I can use throughout the year to gage how I am doing. Try it out and let me (and Kevin) know if you find it useful.

Happy New Year!

Until next time – all the best!

RolandB