Categories
community building

Between expertise and ignorance – be a generalist

Richard Lucas January 2016
What I don’t know, why it matters, and the importance of knowing the right questions to ask
I spent a serious amount of time looking for answers to questions that are relevant to the businesses I am involved in, or researching business projects. If I find what I am looking for, I forward it on with a few comments to the person to whom it is relevant. Other times, I can’t find what I am looking for, which means an unsolved problem.
My search for answers is also inefficient because along the way I find out facts,  issues, problems and ideas that are new to me,  meaning that I distract myself with my own curiosity, and often have new business ideas.
My process involves Google (and learning how to search Google well is a skill – that – like others – can be improved), Googling people I hear on the radio,  all kinds of social media,  Linkedin, Youtube, Slideshares, Investor  information sections of listed companies, Trade Associations, Event speaker, attendee and exhibitor lists, this list is long.
When I cannot find what I am looking for I sense an opportunity. If what I want to know is valuable, the value of knowing it may be high (or perhaps worthless:-))
Years ago, a startup magazine called Proseed published a column where I acted as a kind of “Agony Aunt” to entrepreneurs.   I am not so arrogant – I hope-  as to share my “wisdom” about everything I read.  If I don’t have something to say it is better to stay quiet.   Derek Sivers shares his notes about the books he has read and recommends on his excellent blog – but he is successful with some excellent and hugely popular TED talks behind him, not to mention his business success with CD Baby which he sold for US$20 million.

I am however going to flip it round. I am planning to start posting questions I don’t know the answer to, and to explain why these are important.

If some contacts me and can help, then maybe they can be a business partner, or potentially work for me finding the solution.

Why bother? why does this matter?
The gap between being ignorant, a generalist and a specialist is important to understand.
To be a successful entrepreneur – I recommend the advice of my father J. R. Lucas – who said to me when I was a teenager – “don’t be a specialist – if you need a specialist you can always find one” and that once you have a specialist skill you may well end up working using the skill in which you specialise for the rest of your life, because that will be the best rewarded in the short run.  This is not a bad outcome if this is what you want to do, but is not for anyone who doesn’t love their job.
My father’s advice is not great for anyone who has not worked out a way of generating income for themselves. Anyone who has never held down a professional salary should read  So Good They Can’t Ignore You  which sets out the opposing case for getting really good at something rather than following just your passion. The book is well summarised by Derek Sivers here .  If you are able to bring in more than enough money, without having a specific skill – this means you may never need to get one.  You may have the “what it takes” to be an entrepreneur. The ability to persuade people to buy things from you when you don’t know what you are talking about is worth having.
(thought the wherewithal to sell things you are not a specialist in, while showing an impressive ability to be convincing,  may involve taking risks of major problems).
While there are reasons not to be a specialist, I am not arguing for, or celebrating ignorance.  You should aim to be a generalist, to know enough to ask the right questions, to tell if someone is BS-ing  you, and to be able to tell a specialist what you want and why.  A version of the 80/20 Pareto rule applies –  that you can learn 80% of what matters quickly, the remain 20% may be for the specialist. Read the Wikipedia entry, watch a TED talk or two, read The Economist. listen to a podcast, watch the most popular slideshares, skim the top ten entries on Google, and within an hour you will know much more than most, and maybe enough to find a specialist.  Maybe then you can hire or find the specialist.
I regularly listen to the Digital Marketing Podcast from Target Internet for its clear language, sensible advice, easy to understand and recently I heard this episode about Programmatic Advertising.  (Once when I wrote to Daniel Rowles – the CEO and founder – and he wrote back immediately with helpful advice, a great way to make him a potential partner in the future. I am researching B2B marketing using Adsense type marketing. This podcast enabled me to search intelligently, finding list like this  with specialist firms, and making me confident to post here on Facebook.
European B2B Startup Group on FacebookThe post shows that as well as needing a specialist I know enough not to be ripped off and to deter digital marketing agencies that don’t know what they are talking about. I’d heard of Real Time Bidding RTB before, but not SSP,  DSP and various another acronyms.
The conclusion – > Don’t be afraid to admit you don’t know ad hoy are not a specialist but not before you have spent an hour or two turning yourself into a generalist.  And here is another great podcast from Daniel about how to keep your digital skills up in the world of specialists. Effectively he is advising listeners to be generalists.
And if you know how to help organise our RTB on line research, get in touch.
Categories
Entrepreneurship

Which are the best Polish Startups – 2019

Richard Lucas’s January 2019 update

Introduction

I definitely want to add Callpage, led by Ross Knap from Krakow to the list.  Vivid-Q (based in Cambridge and London), has Aleksandra Pedraszewska is a co founder and squeaks in.   Archdesk.co.uk led by Michal Mojzesz already had a mention, but they are now funded, and they continue to be a very high potential Polish Startup.  Reality Games led by Zbigniew Woźnowski has rapidly growing revenue and has been pouring money into products that could be make 2019 a year of incredible success.

Other new arrivals include  Autenti  electronic signatures, Contellio – Infographics on demand  Myrest.io – early stage, restaurant e-commerce and social marketing, and Posbistro (funded and doing well).  Sinterit SLS 3D printing. Dr Omnibus Applied Behavior Analysis tool, BEIT Quantum Computing startup, headed by ex Googlers and brainy academics and Eventory Event management

A great year for Krakow 🙂

For detailed and informed commentary about the Krakow eco system check  Bartosz Józefowski’s (KTP) annual review  here . For Krakow Startups check out the much improved OMGKRK database . OMGKRK Foundation is functioning very well under Paul Kulon’s leadership. I’m pleased to support it and be an Ambassador.

If you feel you should be on this list, please fill in the form here 

Nomination form 

To be considered you must have clients who can be verified, unless there is something very unusual about your startup (like for example BEIT where the founders are have great reputations and I know them personally) 

This blog post started when my friend Ralph Talmont of TEDxWarsaw asked me for suggestions in preparing a speech-  in answering his e-mail I ended up creating this blog post. This is  both an aggregation of other lists –  (disclaimer – where I have done this  I am neither taking the credit for the work done, nor claiming that the startups listed are good companies –  in the sense of providing clients with something fun or  useful, creating good jobs, paying taxes and proving a return to investors).

If you want to keep up to date with the startup community  there are a few places to check regularly. My passive aggressive streak will take you here  though this approach can lead you to strange EU funded lists like this.  The best list of startups is here on Quora  (note the total lack of government money). Hat tip to Borys at Reaktor Warsaw for this, it’s copy pasted below.. Ramon’s Tancinco gave this memorable TEDxKraków talk and build this free site   which has a very good list including many startups.

There are places where local communities find out what is going on, For example OMGKRK’s Facebook page, and the #OMGKRK hashtag for the community.  Proseed magazine in Polish  and Bitspiration and Mam Startup Goal Europe has regional news. Probably Techcrunch is a great place to look. Mike Butcher and John Biggs know more about our eco-system than most, and regularly visit.

Categories
Entrepreneurship Featured

Letter to a new potential business partner

This my most popular blog post –  I have slightly updated it for the beginning of 2020.

This article appeared in Proseed Start up Magazine in December 2012 here

I am aware that I don’t always live up to the standards I expect, but this are goals I aim for. By making them public, I pressure myself. Some of the points are written as if to a new key staff member, as part of their “on-boarding” process. I’m assuming that they have either invested in or have an key role in the organisation.

“Dear new potential business partner,

It was great to meet you, I really like your business idea, organization and approach and would like to express my strong interest in taking this co-operation forward. I believe that under your leadership we can offer great value to clients while making a lot of money.

People have very varied expectations of their business partners. To avoid a discovery process that could be painful and expensive for us both, I’d like to set out my expectations and standards. It would be great if you could also let me know which points you like and hate, and tell me the things that are important for you.

I am going to be direct. This is part of all healthy relationships, business or otherwise.

Our goals
We are aiming to build a first class business with great people, happy clients, and making lots of money. We will be clear to staff that it is not OK to behave like a cool company while living on borrowed money or shareholder funds. The only money we really deserve is that which comes from our clients, over and above our costs of operations. Our profit proves that what we do is valuable. We always want to be proud of what we do.

Setting an example You have been successful in your life to date. That’s impressive, and one of the reasons I want to work with you. Even if I do not understand why, success may be part of a pattern. This means that the bar is raised. I expect more from you than the average co-worker. What does this mean?

I do not want to be your boss and I don’t want to have to police your standards. We are partners. These expectations are what should happen when I am not around. The way you conduct yourself will impact greatly on the company you are going to build.

Bad moods and sulks
You will behave better than a dream employee. You are setting an example the company will follow, and which will define the culture. Even if your girl/boyfriend has been yelling at you, your parents are moaning, your kids are sick, you are sick, and you are “having a bad day”, you will leave your problems behind when communicating with staff. You will be positive, polite, responsible and punctual.

Communication and respect
Failing to respond is not OK – I connect this character trait with “irresponsibility”. You will read and respond to e-mails and phone calls within a time frame that you publicise. If you are too busy to respond in detail, you will tell the person who wrote to you that you are too busy, or that you are not going to reply. Ignoring incoming messages on the basis that you are “too busy” while happily updating your Facebook profile is dishonest as well as being rude. It sends a twin message that you believe you are too important to behave well and that you do not expect high standards of yourself. When you complete tasks you will let me know and expect the same of your team(s). A task is not done until you have communicated that it is done.

Hypocrisy You will communicate clearly your expectations of others and you will live to those expectations you set. If you want your staff to travel on Sunday evenings so that work on client sites starts Monday morning you will set an example and do the same.

Feedback If you have issues with the way people work you will give them clear feedback directly and in private so that they know what they have to do to make you happy. You are responsible for the organisation as a whole and as the leader you will get much of the credit, praise and rewards. To the maximum extent possible you will recognise the team that is doing much of the work, making it all possible, and allow them to feel important.

Behaviour in meetings
You will not take phone calls in meetings without checking if it is ok for the people you are with. You will not do your correspondence or Facebook/Skype chats during meetings. If you are using your computer for purposes related to the meeting, you will tell people why so they know you are not checking your e-mail, for example “I’m making notes about this meeting”. But it is better to take notes on paper, or with a digital pen.

Supporting your team
Your job as a leader is to understand the problems and concerns of people who report to you and give them support as well as constructive criticism. The reporting should be planned and predictable. All your direct reports should have some regular one on one time every week or two where they know that you expect them to discuss problems and agree solutions.

Being Tough
You will be tough on low standards. If people do not behave decently you will give them clear and immediate feedback about what they should be doing, giving them a chance to explain themselves. You will make clear from day one that people can be fired for backstabbing, dishonesty and intolerance.

Problem seeking and solving
You will encourage staff to look for problems, large and small, from spelling mistakes on the web site, untidiness in the reception areas, or horrible problems that might happen but no one has thought about (like who has “the passwords” if “the IT guy” quits), or who has the back up keys if the person who opens the building and their backup are both missing and unreachable . People who find problems will be expected to propose solutions when they report them. This can benefit the business in multiple ways..

CSR
Our corporate social responsibility policy is first and foremost be offer great services and products to our clients and to be a good employer that pays its staff, suppliers and taxes on time, Staff will be allowed to take time off for volunteering provided they are doing their jobs well, and will be consulted and have a chance to vote on the things we give donations to.

Processes and organisation are the DNA of the business.
The A of MBA is administration. We do not want bureaucracy but efficiency. Your management and planning process must enable all staff to know how things are done, how decisions are made and where to get the information and support necessary to do their jobs. External interactions (phone calls, emails and meetings) with suppliers, clients and partners must be recorded in a system staff have access to. As the boss you will set an example. Important information/contacts needs to go into a corporate memory so that we can survive and prosper even if someone dies, or quits (out of people’s heads and into our shared IT system). I suggest using project management/time management tools and a CRM like Salesforce.  A top manager once lost his job in a company I was an investor in when during a review it turned out his the main entry in his calendar was “not available”.

Planning and forecasts
We plan to make a profit, so our yearly budget forecast will tell us what level of sales we need to make our target profit, and our sales people need to work to hit or beat those targets. We will update our targets at least once a month based on current sales and the sales pipeline.

Time management
Yearly, monthly and daily “to do” lists, scrum, or another tried and tested planning process, via on line platforms so that everyone can see what everyone is doing are essential. Timecamp.pl is a good example.

Self Improvement Is for everyone including you (and me). It doesn’t require money but it does require effort and time. Anyone with access to Google has almost unlimited access to knowledge.

Meetings
Should be quick, useful and fun if possible.
Objectives should be clear. Tell staff that if they don’t know why a meeting is taking place they should clarify or refuse to go.
Weekly stand up progress and planning meetings with agreed objectives are important – what’s happened, what’s going on, what are we doing, what was good and bad (and problems, challenges, difficulties) Meetings should be followed by a written who does what by when. Basecamp is ideal for this.

Democracy and consultation
The company is not a democracy but team members should be consulted. The leadership decides what is best for the company as a whole taking account of the facts and the views of those whom it concerns.

Reporting and Transparency
All shareholders have the right to information in a startup business like ours. Benefits for owners like cars, computers, private travel on the company must be approved by the majority shareholders. Shareholders should get a monthly summary of working capital, sales, profits, new hires, firings, clients, strategic developments, and major successes or problems.

People
We will treat our staff well, fairly, and aim to be one of the best companies for the best people to work for. We will not hire people who are unpleasant or unreliable, We will have high expectations of people. We will aim to pay people attractive market wages. The CEO, bosses and managers should justify their wages. If they want increases in budget for their department and salary for themselves they should be able to offer more and raised productivity in return. Pay rises are not automatic.
All staff will get regularly appraised with clear feedback about what is good and bad, what we expect from them, and will have the chance to fix things we are not happy with. Manager-Tools.com has fabulous and largely free resources on how to manage people properly. Staff need regular one on ones, even if only 15-30 minutes every week.

Non competition and conflicts of interest We address our business opportunity through this company. No shareholder is allowed to engage in competitive activities to what we do without giving the company first refusal. If you sense a conflict of interest- you want to give a contract to a company run by a friend of relative, let the other shareholders know. Transparency is important.

New business areas
If a shareholder has a new business idea then he may discuss it with the other shareholders. If knowledge of the opportunity has arisen out of the business we do together he should discuss it. If there is a flow of money and/or know how from our business together to the new business, then we must discuss it. The closer it is to what we do already the more we can expect existing shareholders to have the right to be involved.

Problems
We talk about problems and propose solutions.

My contribution
I will do all I can to contribute my best ideas, advice, strategy but not take responsibility for operational stuff for managing projects, relationships or clients

Making things right
This is a long list – and everyone can get things wrong. If you do, you face it, fix it, say sorry and resolve to try not to do it again.

As I said at the beginning, this is my list. I’d like to know your reaction, and to know what matters to you.

Let’s get down to work!!