Why use Facebook?

Many of you know I have a new business called Karmaback.  We build tools and technology to make Facebook and Twitter more engaging.  The question is, why use Facebook at all?  What does it do for your business?

The answer is nothing.  It does nothing for your business.

You CAN however, USE Facebook to help your business.

Here are a few tips:
1.) Post at least 2-3 times per week, but not more than 1/day.
2.) Make your posts informative about Your products or Your industry.
3.) Encourage your Fans to discuss the topic.
4.) Encourage your Fans to "spread" the topic when it is relevant.
5.) Reward your Fans for following you.

3-5 are what Karmaback can do for you.

1-2, you have to do for yourself.

The search for the perfect solution.

Got a problem?  Got something you really want?  Have you ever gone on a hunt for the "perfect" solution to your problem?  Why can't you find it?  Why can't anyone just make the PERFECT solution?

The reason it is hard to find perfection is that companies are working with 2 conflicting variables... supply and demand.  Usually, there is limited supply of something (for example, it costs money to get a supply of Titanium to make Titanium watches)... versus demand... (for example, the price of the Titanium watch HAS to be higher because of the cost of the supply of Titanium).  So, the never-ending challenge: Price vs. Features ensues, and most companies FLOCK to the place where the MOST people are willing to pay the given price.

FEW companies have the guts to make a product at either extreme: price so low, everyone could afford it... but who would want it... it's just crap?   Price so high, no-one can afford it, but WOW it has all the features and is darn near perfect.

The perfect solution is very rare.  Price low enough that there is high demand AND features high enough that it solves the problem nearly perfectly.

Software can change that.  It is possible to have the perfect software solution.

This company: Line2, is VERY VERY Close:
http://finance.yahoo.com/family-home/article/109173/iphone-app-to-sidestep-att
http://www.line2.com/

Live extreme.  Search for perfection.

How to Manage Outside Offsite Contractors

The contractors have finally dialed in, 15-minutes late, for the status meeting.  They act as if nothing is wrong, "Hello everyone, how is it going?"  Your team looks frustrated, back in college they only waited 10-min for full PhD's!  "Fine, fine," you say calmly, "how are things there?"  "Fine, going good," they reply.  "Uhh, can you be more specific, this is the update meeting after all...".  Twenty minutes later they hang up, and you have NO IDEA the status, quality, or needs of the contractor.  What went wrong?  This is not going well!


As CEO, I spend a lot of my energy making sure that my management team is WELL ARMED to manage effectively.  By manage, I mean: ensure that tasks and objectives are met on schedule and that all tools and materials are available when needed.  


The problem is, when a contractor is NOT in the same office, you rarely know when they are lacking tools or needed materials.  It is equally difficult to get exposure to the progress vs. schedule, and damn near impossible to make sure the objectives are met.  MANY MANAGERS struggle with this with employees, let alone offiste contractors.


Here are some of the tips I train my managers (and employees who often do manager jobs) in dealing with contractors:
1. MOST IMPORTANTLY: don't pay hourly.
* Hourly is the wrong incentive for your contractors!  Pay based on objectives and milestones.
* If you must pay hourly, be sure to specify how many hours per week/etc. that the contractor may work on the project.
* If you must pay hourly, be sure to get an estimate first.. and provide a penalty if they go over the estimate (makes it almost not hourly).


2. Have a GOOD CONTRACT that includes both a carrot and a stick.  
*  Include in the contract a "Bonus" for early delivery, but also include a "Penalty" if quality problems exist post-delivery.
*  My penalty is usually they have to fix the problem in 2 days or we will deduct 5% from the total.
*  A good bonus would be 10%.  (contractors aren't use to this, so it can be quite motivating!)


3. Whenever possible only contract out something that is a "complete job".
* The Job MUST have a finite end-point and delivery metric.
* It must be FULLY specified IN THE CONTRACT.
* It cannot rely on multiple inputs or outside team members.


4. Build in "DELIVERED" milestones to the Contract.
* At least 1 per month or so... a nice stopping point with delivery of the 'unfinished' product. (ideally in a testable state).
* Along the way, you will see progress when a delivered milestone is given to you.


5. Make certain all tools and needed materials are given at the start.


6. DON'T MAKE CHANGES!
* If there is a change you HAVE to make... don't.  Just let the contractor finish, then do a change as a separate contract.


If you can follow the above, you don't need the weekly meeting, just a quick call or email if they miss a milestone!
Best of all, they are MOTIVATED to do it on-time and high quality.
AND you can track their progress via the milestones.

Delegate or become your company's bottleneck.

"Okay everyone", he says in that snide nasal tone you know SO well. "just a reminder, your revised proposals are due by Monday morning."  You look on bemused that you have to do this.  You're not nervous, just annoyed.  You would have been done by now if you didn't have to make a proposal first.  "James, your idea needs some refinement, you need to include more widgets and less dongles like this," the nasal tone interrupts your reverie.  Its a good thing you didn't start yet, your idea just got mangled beyond recognition... its now 100% more safe, and 1000% less interesting.

We've all known the manager that refuses to delegate.  They want to be involved in EVERY decision.  They want to be "presented to" and (if your lucky) given a recommendation.  It's usually either a VERY capable person (who is super-duper smart and works super hard), or a VERY nervous/worried person who is constantly thinking about CYA (Cover Your Ass).  In the first case, they are doing it because they probably DO have great ideas and maybe could do it better/make it better.  In the latter, they are doing it because they are worried that if it gets screwed up, they will lose their job.  In either case, they are doing it wrong.  Refusal to delegate means you ARE the bottleneck in your system.

There are two principles that are being ignored here.  First, the principle of trust.  In both cases, they are not trusting their co-workers (or subordinates) to do the work right (well).  The second is efficiency.  In both cases, the manager has sacrificed "efficiency" by putting themselves in the work-flow.

I can't change your manager over night...but here is how you can change him (and/or yourself)!

1. introduce the concept of "guidelines".. pre-approved guides within which one can operate without approval.  Budgets, schedules, milestones, and boundaries.  (e.g. $500 per month spending maximum for needed stuff)

2. introduce the concept of "good enough".. a standard that is admittedly below your BEST's best, but that is good enough to get the job done without taking your Best's time away.  (note: works well when the BEST is the manager in question, or he thinks he is).  [not that I know from personal experience] :)

3. introduce the concept of "front man".. a front man not only has ownership of the project, but gets exposure as the leader to higher-ups.  This concept is a win-win-win... the CYA guys, get to CYA.  The subordinates get higher-up exposure, and the higher-ups, get to see new faces!

Now, start delegating, and work on the stuff that really matters.