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Posts by Steve Sue

Steve is the story guy® at Storymanager, Inc. Steve is seriously obsessed with helping you make a great business story and promises to blog until it hurts... ouch, OK it hurts now...

Which B-Schools Practice What They Preach?

Here’s a concept: pick up a business magazine and cut out all the B-school ads, then compare them to see which practices what they preach: i.e., who excels or fails at positioning, audience segmentation, competitive analysis, product definition, sales and other Business 101 cornerstones.

Better yet, add the 3-Second Advertising Rule in your evaluation process to determine how effective their positions are conveyed.

I did just that with the Harvard Business Review (March 2010) while waiting for a flight at Denver Airport. Here’s what I found:

PAGE 7, MICHIGAN UNIVERSITY

In 3 seconds, I was able to decipher that Michigan had a clever headline, but their message went right by me as I didn’t care to read the fineprint. In fact, the only reason I knew it was a B-school ad was because I re-skimmed the magazine specifically looking for B-school ads.

Now I was taught that selling a solution to a negative circumstance is much more compelling than selling to a positive benefit. In this case, their position simply doesn’t hit any angsts or sweet spots for me. That, in combination with some pretty poor graphic design sinks the ad.

On the point of graphic design, their’s simply doesn’t help as the headline could have been reinforced with a picture. Like may be a tree top with juicy fruits. Or a good-looking biz student/professional person reaching up to pick a sweet fruit. Further, the fineprint could have been made more readable by cutting the copy and providing higher text contrast, especially the yellow “Ross School of Business.”

The Grade? Hmmm... I don’t want to be a butt, but my butt tells me theirs is in the bottom half. Butt read on…

PAGE 13, WHARTON

Wharton crosses their t’s and dots their i’s in this ad. They do a pretty decent job in defining their product. And they successfully target and talk to executive program candidates. Even better, they only bought 3/4 of the page so did their message more cost-effectively that Michigan.

But their headline is like a yard teacher’s scolding. It’s b-o-r-i-n-g. This ad is actually the antithesis of Michigan’s. Michigan starts with a nice emotional statement but doesn’t deliver the left-brain intellectual goods. This ad on the other hand is all left-brain without much emotional appeal.

Now Wharton might argue that many business people are left-brainers, but the fact is that the best candidates are well-balanced people and almost all of us are really more right-brainers. If you like the movies, you have a strong taste for right-brain emotional stuff.

And what’s up with the “best leaders” fading away so apologetically? Heck, it oughta jump out at you like a President trying to pass a healthcare initiative.

The Grade: S for “Stiff” Try a few drinks or ‘shrooms and try it again.

PAGE 17, STANFORD

This, and the next ad, are what precipitated this post. Now I’ve never been a Stanford fan (I’m a UC Berkeley grad) but I gotta hand it to the Tree Guys: their ad rocks. They know their audience, they get the product description right, they even do it cheap with a 3/4 page ad.

But what’s really great about this ad is that they get the angst of the time, define a solution and give hope for the future. Read it and you’ll find your head wagging like a piece of ceramic on a spring in the back dashboard of your car.

But wait! There’s more! Stanford really raises the stakes by placing a pic of a young-ish blond hot chick with fake glasses and still perky boobs smiling at you. As if Stanford… we know your rep… but it works.

The Grade: A+

PAGE 37, ST. LOUIS (WASHINGTON UNIVERSITY)

We all know it’s hard to follow a great act, but the placement of this ad in combination with the similar headlines makes this a big “whoops.”

B-schools teach the theory of 4 P’s: Product, Place, Promotion and Price… and well, St. Louis pretty much failed on the third P which results in a rather embarrassing, “me too” headline.

On top of that, their terms aren’t as good as Stanford’s… and they have no hot babe in their ad. May be a younger, hotter, blonder, bigger boobed chick with bigger glasses would have save it…

The Grade: In this context, a big goose egg… but check out HBR in future editions to see if St Louis evolves their position or winds up with more egg on their face.

PAGE 51, HARVARD

Harvard had the home court advantage as HBR is their own magazine. Which means that they were uniquely positioned to study all of the competitor ads and placements before finalizing their own. It should have been an easy score… But it looks like they either punted or fumbled.

This as is like a bad Rorshach Test. I first saw a big question mark because I was like, “huh?” Then I thought, “oh may be it’s supposed to be a dollar sign – but it’s backwards – so does that mean negative money?” And finally I thought that may be Harvard is mixed up like a maze and if you go there, you’ll like a big bug crawling all over a question mark… I must not be Harvard material ’cause I don’t get it.

The Grade: Most definitively a resounding, “huh?”

PAGE 109, AMERICAN COLLEGE

I dunno much about this school, but apparently you get to sail a lot... now that’s a good way to become a leader in financial services!

The Grade: I don’t sail, so I’m not qualified to rate this ad.

PAGE 125, CASE WESTERN RESERVE UNIVERSITY

Correct me if I’m wrong, but this small ad, in all it’s generic glory, stuck in the back of a $16.95/issue magazine, doesn’t seem to be very well positioned to capture the kind of folks that read the Harvard Business Review.

The Grade: It’s in the back for a reason… Retool. Rethink. Rebound.

BOTTOM LINE: As far as using HBR ads to determine who knows business, the overwhelming vote goes to Stanford… but if you want to go there, know that it ain’t easy to get in… and that you gotta pay crazy high tuition… and most importantly, you’d never be able to live down The Play…  just kidding… NOT!

Go Bears! :)

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How to Pitch Your Biz: The Accelerator at SXSW 2010

So we’re here at SXSW, the big interactive conference in Austin Texas where the cool kids congregate every year. It’s a happenin’ environment with big people and big ideas. And there’s this thing here called The Accelerator, which is a chance to pitch your Big Idea to a bunch of in-the-know investment guys.

If you take the mic, you get 2 minutes to introduce your play, then 10 minutes of Q & A follow. Believe you me, if you don’t have your ducks in order, your’ll be on the spit, charbroiled and plated before the end of your 12 minutes.

So sitting here in the cheap seats, I’ve come up with a list of tips to help your waddle toward success.

10 Tip to Pitching Your Big Idea

1. K.I.S.S – Keep It Simple Smartguy! 2 Minutes Isn’t Much Time. Stick to the basics in that first two minutes which means presenting: a. the Need or Problem, b. Your Solution (demo if possible), c. Biz Model, d. Sales Strategy and, e. Management Team. Keep it simple and leave the rest for the question period.

2. Define a Significant Problem or Issue. Don’t be a techno-nerd. You may be fascinated with theory, nuts and/or bolts, but you gotta get real in explaining why the real world will want your stuff. Tip: if you’re a left-brain intellectual, seek out the furthest right-brain person and see if they can’t help you find the market-side coolness of your play.

3. Talk About What You Have, not about what you hope to have. You gotta have the goods. Anyone can have a big idea, but you need to establish that you’re the person to do the deal. Creating a product that Google could slap you upside the head on isn’t a very fundable play.

4. Do a Demo. Especially for plays that are highly technical, demos work better than technical dissertations. Make it tangible.

5. Define a Ramp Strategy. Nobody’s going to give you a blank check. And in fact, you’ll likely have to boot-strap or go to Aunty So-And-So for your first round. So define a strategy that gets you off the ground.

6. Define How You’ll Make Money. Know how your cash register will fill and how much you can reasonably expect to garner (at least research and projections) to back up your ideas.

7. Define a Clear Marketing & Sales Strategy. They gotta know how you’ll get the word out and what will keep patrons coming back. This year, one of the big themes is how you’ll use online social networking to push your message. Be clear. Be clever.

8. Don’t Get Argumentative. VC guys know what’s up and they’ll call you to the mat on stuff you haven’t defined yet. Consider it a blessing that someone reveals a weakness to you because it’s what you don’t know that’ll slam you in the future. In this world, it’s OK to not know something, that’s what being a startup is about. But it’s definitely not cool to be in denial.

9. Use Pictures. Slides are great to present and should be dominated by pics, not bullet points.

10. Be Real. Don’t puff, don’t be elusive, don’t be showy. When it comes to startups, everyone in these rooms has x-ray vision, which means that they can see right through your underwear and into your core. So just be honest, humble and let your idea show through.

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Do You Have Passion Blindness?

while passion motivates, it can also be blinding and lead to ultimate failure
IcarusPassion is an essential ingredient in business, but it also has it’s down-side risks. So beware of its mesmerizing effects. The danger: while passion motivates, it can also be blinding and lead to ultimate failure.

CURES for 5 common forms of Passion Blindness:

1. Entitlement Blind: You have a Big Idea. But are you the best competitor to make it a business? One sure bet is that if you’re successful, others will want to horn-in. And they might have superior resources and connections to overcome your early lead. Don’t waste your time proving markets for others. And define how you’ll keep others out of your grill. For more, see Stickypitch Wizard Tip, Dig in Early.

2. Business Model Blind: Launching a business can be exciting. But the real measure of success is long-term profitability. Don’t be an Icarus: sure he got off the ground, he even soared for a bit, but as he got closer to the sun, the wax on his wings melted and he failed in the end. Look beyond the fun of the present and make sure you can sustain your flight path. For more, see Stickypitch Wizard Tip, Seek Tried & True.

3. Competitor Blind: Passion has a nasty tendency to blur the distinction between objectivity and marketing propaganda. Acknowledge your competitors’ strengths. Your goal should be to learn from them. Watch them. Stalk them. Don’t get blind-sided. For more, see Stickypitch Wizard Tip, Don’t Be Hat’in.

4. Audience Blind: Ever heard a mission statement that sounds like, “We will be the preeminent… $1billion dollar a year… blah, blah, blah…”? That’s passion blindness at work. Sure you can have lofty goals, but it’s more effective to focus on the needs and wants of your audience. Don’t make it about you, make it about them. For more, see Stickypitch Wizard Tip, Deliver Their Dreams.

5. Profit Blind: You’re all into your product. Cool. But profitability is often less about signature products and more about the “other” stuff. Fancy folks call this “merchandising” and it drives your bottom line. So look beyond the obvious and get smart with your product mix. For more, see Stickypitch Wizard Tip, Find “Extra” Profits.

GOT PERSPECTIVE? Share your thoughts or stories on Passion Blindness.

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2010! How to Make This Your Decade

open your sails and trust the winds of God to take you on the adventure of your life
sailA new decade looms. And the horizon clouds with the possibilities of 2012 Armageddon and recessionary storm. But whenever things shake big, there’s big money to be made.

Add to this the wisdom of my Uncle Ed who once told me, “The more money that goes through your hands, the more chance that some of it will stick” and you might agree that success is imminent. Heck, Uncle must know what he’s talking about because he had a pretty good run as a Baptist minister. So recession or not, have faith that God will provide a tomorrow and that your plate will be full. In fact, you might consider it a good time to go all in. Bet the farm that this is the time to make something BIG.

2010 is an opportunity to create YOUR DECADE. How do you make it so? Start your journey. Board. Cast off. Chart a new course, open your sails and trust the winds of God to take you on the adventure of your life. And if you still have one foot on the dock when it sets sail, remind yourself that life doesn’t happen in cubicles and that you’ll have all of eternity to rot in a box. Start living NOW. Take the Red Pill. 2010 is your time.

Still a land-lubber? Here’s a few sound bites to inspire you to pull anchor and cast off to success:

  • Light tomorrow with today ~ Elizabeth Barrett Browning
  • Don’t stay in bed, unless you can make money in bed. ~ George Burns
  • Get Busy livin’ or get busy dyin’. ~ Tim Robbins as Andy Dufresne in The Shawshank Redemption

Make something of your life. 2010 is the perfect time to start your legacy. There’s a world in need out there. So make things happen and be a player in change. How to make success and happiness in the decade of 2010?

JUST DO IT!

Happy 2010!

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Jerry McGuire Writes a Mission Statement

OPENING SCENE: Jerry’s hands dance over a keyboard as he writes a new and improved mission statement for his company – that only gets him fired.

CUT TO: Jerry’s departure scene in which he pitches others to leave with him to start a new agency. Of course his pitch turns out full-on sappy and not a bit sticky, but at least the goldfish and Renee follow him.

In the movies, drama good: In real life, immediate success better. Try our FREE mission and pitch builder at stickypitch.com

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The Storymanager® System is now Stickypitch.com

STOP RIGHT THERE: it’s time to bust a move on the Storymanager brand! Yep, you heard it right. After many nights of midnight oil, we’re finally semi-ready to unveil a few big things here at Storymanager, Inc…

Stickypitch_logo1. Storymanager has been rebranded as Stickypitch.com. The name is more to the point, easier to remember and shorter. For those of you using our now old-skool Storymanager System, you can still logon at legacy.storymanager.com to access your projects. In a few days we’ll transition your projects over to the stickypitch.com and you’ll be able to rock your project stories there. Or you can open a new account at stickypitch.com and just start using the new system.

2. Stickypitch.com is new and improved with a gaggle of new features, a totally new user interface and yes, a totally new brand image.

3. Storymanager, Inc. will continue as the holding company for the stickypitch.com service and other business building tools.

Stay tuned for more details in the days ahead… and be sure to comment your ideas and feedback.

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“Obama-care”: A Bad Story Waiting to Happen

One of the reasons the term "Obama-care" has become a journalistic convention is that there is no bill. You can't talk about Obama's actual healthcare plan because there isn't one
This post is not intended to detract or support the President or the notion of health care reform, but it is here to observe that the label “Obama-care” poses a long-term story liability for the President. Why? Because Americans will ultimately blame any healthcare system for their ills, whether or not it proves successful for the masses. From a political POV, it’s a no win proposition and the President’s name is literally on it.

The fact is, people get sick. They die. And crap happens in complex systems. But rather than blame failing health on old age or bad luck, they’ll blame the “Obama-care” system. When they do get sick, the anecdotes about the system will fly. They’ll hang in the air. And ultimately blemish the President’s legacy. Prediction: decades from now, President Obama will go down in history as the bozo who botched healthcare. Why? Because the White House isn’t spinning the media away from the “Obama-care” label.

Frankly, allowing the label is just poor story management. LA Times opinion writer Johan Goldberg observed on August 18, 2009, “One of the reasons the term “Obama-care” has become a journalistic convention is that there is no bill. You can’t talk about Obama’s actual healthcare plan because there isn’t one.” So the media, particularly conservatives, latch onto the term, “Obama-care.” It’s not a right-wing conspiracy, it’s just a convenient and catchy label. But now it’s developing into an open wound that conservatives are discovering convenient to rub salt into.

The cure is really simple: renamed it. Pronto. Let it go too long, and it’ll be like the “Swine Flu” battle… seriously, who the heck really calls it the “H1N1 Virus”? Right. Even now, changing the “Obama-care” label will be an uphill battle at best. So for the President’s sake, the sooner “Obama-care,” can be converted to “H.R. 000XX,” the better.

LEARNINGS:

Be wary of potentially negative associations. Manage away from them. And when discovered, take decisive steps to get your story back on track.

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Why Customers Demand Authenticity

Authenticity sells and your "story" needs to be truly authentic. Be true to your heritage. Be what you say you are. Don't be a phony. Be for real
Joseph Pine, author of The Experience Economy, makes the case that success will increasingly be based upon whether or not a company is perceived as authentic. In a nutshell, he theorizes that our economy has evolved from agrarian-age commodities, to industrial-age goods, to information-age services and now to preference for authentic experiences.

Says Pine, “Everyone now has the desire for the authentic. And authenticity is therefore becoming the new consumer sensitivity. The buying criteria by which consumers are choosing who they are going to buy from and what they are going to buy…” For more, checkout his full TED presentation below:

From a business POV, it’s just smart to start from what’s authentic. Your past, especially the seemingly un-matched chapters in your life, or those skeletons in your closet, are often great fodder for a Unique Selling Proposition. For example, Frank Lloyd Wright, one of the most influential architects of all time, started as a civil engineer and combined strong interests in sociology to remake architecture. In retrospect, this unique combination makes total sense, but it didn’t at the time and despite Wright’s success, isn’t taught as the obvious path to architectural greatness today.

As for that closet of bones, your angst just might provide the motivation to cure your’s and others’ ills. Just ask Oprah Winfrey who set out to explore her own early torments and now cures millions around the world. Necessity is indeed the mother of invention and it often results in meaningful business.

Also consider that in this age of Internet stalking, there’s a much higher chance that your bone stack will be revealed. So it only makes sense to turn a negative into a positive by integrating weaknesses into your story to create an asset. Besides, acknowledging weakness shows you’re human, and we all respond to that.

LEARNINGS: Authenticity sells and your “story” needs to be truly authentic. Be true to your heritage. Be what you say you are. Don’t be a phony. Be for real.

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3 Steps to Entrepreneurial “Passion”

Sure we want it. But the issue is, how do you get it? It just doesn't magically appear even if you decide you want it
The term “Passion” is often perceived as a trite and over-used cliché. Sure we want it. But the issue is, how do you get it? It just doesn’t magically appear even if you decide you want it.

Epiphany: Passion is an end-state. It’s not a process and it doesn’t tell you how to get to your goal. Telling a person to get passionate is about as helpful as telling her to strive to be happy… it’s a, “like, duh” statement without a solution. What’s really needed is a process to achieve passion… here’s some thoughts:

THE ROAD TO PASSION

1. Pinpoint Your Legacy. Define what you want to be known and remembered for. Identify what you have to give. It should be uniquely you and something that people really want or need. Try this exercise: Visualize what will be your brick in the pyramid of human ascension. Be as specific as possible. Identify that brick and you’ll have the cornerstones to passion, success, happiness and ultimately your legacy.

2. Map Toward Your Goal. If you know your destination, it’s easy to plan your journey. Of course, along the way, don’t be afraid to change your route as you learn about yourself and arrive at new crossroads. Also keep in mind that making wrong turns are part of the learning process, so don’t fret about whether you’re backing up or not–regard every move as a step toward your goal–you wouldn’t have known it wasn’t it until you were there so go with the flow and explore a little.

3. Get on the Road. Having a roadmap in hand breeds interest, commitment, dedication and a sense of purpose… All you have to do is put one foot in front of the other and start moving–before you know it, you’ll be running with your hair on fire and realize one day that OMG… “I’m passionate!”… and successful… and fulfilled… and happy…

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What You Need & Don’t Need to Succeed

Whatever you can do, or dream, begin it. Boldness has genius, magic, and power in it. Begin it now
OK, so we’ve beat this Big Moo thing to death, but with 33 insightful authors, it’s worth savoring. Here’s yet another smart snippet to whet your entrepreneurial appetite:

“Are you ready to do an original, life-affirming, remarkable thing? The German philosopher-poet Goethe gave us the only bit of wisdom you need: ‘Whatever you can do, or dream, begin it. Boldness has genius, magic, and power in it. Begin it now.’

FOR ENTREPRENEURIAL SUCCESS

1. You Don’t Need…

  • A life of quiet desperation. Not now, not ever.
  • Permission—it’s highly overrated. Imagine Steve Jobs seeking permission.
  • A lot of fancy moves—Duke Ellington only had four.
  • More experience. Beginning it is the experience.
  • To forgive yourself for the things you’ve screwed up. It’s history.
  • To be computer literate. The best decisions and the best ideas come from people, not machines.
  • A degree. M.B.A.s and other three-letter words are also overrated. Ask Tom Peters, who has three, and still got fired by McKinsey only to go on to become the big “!”
  • Praise for your idea. Constructive criticism is a much more helpful filter.
  • An invitation. Waiting to be asked to the table, the dance, the game, the party, the big meeting is a waste of important energy that keeps you from beginning.
  • A baseline or benchmark. By the time you’ve baselined and benchmarked, it’s already too late.
  • Consensus—even if you buy the notion that consensus means 50 percent approval.
  • Money. Bootstrapping is simply a design constraint.
  • Gratitude. As I learned from both my father (who said this often when people whined in his business), and from my dear dog Topper, “If you want gratitude, get a dog.”

2. You Do Need…

  • Passion, to get you over the hurdles.
  • Trust. Tiny threads of passion always lead to bigger threads.
  • Attention. Watch out for the threads and they become tapestries.
  • Guts to ask the question, “What’s missing?”
  • An attitude that suggests, “I’m prototyping, playing, and palling around.”
  • To arm yourself against perfectionists when you choose to use this attitude. They don’t like it.
  • The realization that learning is a paradox. It is life affirming and often painful, because you care, and without it you’re literally dead.”

The Big Moo: Stop Trying to Be Perfect and Start Being Remarkable is a book by Seth Godin and The Group of 33. It’s seriously right on. Check it out.

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