Posts Tagged ‘business’

My first startup

laelene Posted in general blog，Tags: , , , ,
12 December 2009
0

I’m working on a project now that is something I’ve thought of before, but never considered doing seriously until now.  After speaking to some tried and true entrepreneurs, the one piece of advice that stood out was: just do it.   Yup, Nike was right – you just gotta go out and get started!   So that’s exactly what I’m doing on now, first producing some content to put up on the site that I’ll be launching within the first week of January.   I spent the majority of today working on the more technical issues of getting the site up and with the help of a friend, I’ve got a decent framework to work with.   It’ll start off simple, but I do hope the content is valuable to my target audience.

I’m excited for this fun distraction that I’m going to build into a great resource and fun reference.  I don’t want to give too much away while I’m still working on it, so just keep your eyes open in the new year, especially if you’re a Bruin!  In the mean time, if you or anyone you know is willing to help with writing content, doing some graphic design, or helping with the website, please do let me know!  I’ll need all the help I can get.  This will be my first “startup” (not in the sense of a company, but in the sense that I’m the one running the show based off of one of my ideas), so I’m sure there will be a lot to learn.  I’ll try to document what I can as I grow from the experience.  🙂

Best Buy(ing) experience

laelene Posted in general blog，Tags: , , , ,
16 November 2009
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For some Best Buy’s Reward Zone members, an invitation came to a private event from 7:30 to 9:30 last night.  The rechargeable USB batteries were an incentive, to be given to the first 50 people to arrive.  My mom and I decided to make the trip, invitation card and member ID in tow.  We weren’t in much of a rush, arriving just 15-20 minutes prior to the start of the event.  It’s a good thing we showed up when we did – a line of 40 had already formed!  Thankfully, batteries were given per member card, so we were well within the first 50 to show up and get a slip to exchange for the free gift.

After waiting in the cold for anywhere from 20-30 minutes, the line began to move.  We heard some hootin’ and hollerin’ in the distance, which confused us until we reached the entrance.  Inside, all the employees of the store were standing facing us, clapping and cheering and ushering us in.  A lot of thank yous were thrown out and one of the guys standing on the checkout counter was holding a big sign that thanked us for being their loyal customers (or something to that effect).  I felt at once silly and appreciated, which was a great way to start their two-hour event.  Now that’s what I call a great way to shop!  It’s a pity I didn’t have my camera on hand to document the moment!

A raffle was held every fifteen minutes, with $50 gift cards given out.  Employees swarmed the place, offering help to those with questions.  Games of Rock Band and DJ Hero were set up for people to try and a special offer on Wiis was front and center by the checkout stations.  All in all it was a festive time and a truly great way for Best Buy to make their members feel special while priming them to be in a spending and jolly mood.  Now that’s the kind of service and experience more companies should go for!  After all, happy customers make loyal customers.

Ultimately (in professional terms)

laelene Posted in general blog，Tags: , , , , , ,
01 November 2009
0

In the struggle to find a job to even begin a career with, I’ve had quite a lot of time to think of where I want to go in my professional life.  I’ve known for a long time that I want to start my own company (or maybe even many).  In fact, I’m going to say I will start my own company.  I just haven’t quite settled on what it will be yet, though I’ve been thinking eco-consulting for awhile now.  But I’ve realized that that is not what I want to do ultimately.  It’s a milestone that I will cross at some point, however well or poorly it goes.  But ultimately?  I’d like to be an angel investor, making sure the solutions I see in life are executed.

Of course that means that I will need to somehow become super rich first.  When I told Ninja that what I really want is to be really rich, he was like, “Duh, don’t we all?”  When I went on to explain why, however, he understood that I wasn’t making just a shallow comment.  I want to make a difference in this world and there are so many places I can see myself doing that, if only I had the money!  I would really just love to spend my time thinking of solutions to problems I see and then finding the best people to execute them.  I’d set them up with the resources they need and give them whatever guidance necessary to get them on their way.  From there, I’d hope they’d be able to take over and run a profitable and socially-conscious enterprise.  If I could do this, then I’d start a company like Mary Qin, Inc., to be a holding company for all those little niche companies I could create.

I’d go about getting a sensible public transportation system, sharing riding system, or something set up for the Los Angeles area to ease the traffic and pollution problems.  I’d get an electronic receipt system going so we stop wasting paper on receipts that most people are unlikely to look at and most will just lose anyway.  I’d also get that system linked to our credit cards so that whenever we check our bills, we can see the receipt associated with each charge.  No more hunting through piles of paper!  I could finally get a vocational school for athletes going both here and in the UK, so we could cultivate athletes who are ready for all stages of life.  Then I could set up a research think tank where people can submit ideas for researchers to carry out.  I guess Google’s kind of already doing this, but it would be free for people to send in ideas and no guarantee on if their submission is chosen (whereas Google’s is contracted).  Really I’d love to tackle my “hopelist” and parts of my “ideaslist.”

So here’s to getting a job, being extremely profitable, then setting up a foundation or something to implement the solutions I so dearly want to see.

Business sense

laelene Posted in general blog，Tags: , , , ,
03 October 2009
0

Just a quick thought for today.

As I mentioned before, I’m waiting for my invitation to Google Wave (yeah, apparently it takes way more than one day to process).  Now I wrote about it naught but two days ago because it’s putting together some great features, but over the past 24 hours, that excitement and interest has dwindled to disappointment.

Here’s the thing: you make a great product, you make it exclusive to up the value and hype, then you need to make it actually useful for people!  The success of Google Wave depends solely on people’s desire and ability to collaborate creatively in many ways in a virtually live sense.  There’s plenty of that out there, but then when you put on the restraints like invite-only access, you’ve got to be careful with how that works.  In this particular case, the very thing creating the hubbub over who has it and who doesn’t is also turning around to hurt Google.

Don’t get me wrong, I completely understand why the invite-only way of spreading access is a great idea.  It worked well with Gmail, but only because you can use that account to e-mail any other e-mail address.  That way, people who don’t have it could see that you have it (a bit of a status thing at first) and you can still use the functionality on your end to organize messages and whatnot while not getting a disruption in your service.  But imagine if you got a Gmail account back when it was fresh and new and you were only allowed to e-mail other people with Gmail accounts.  It kind of kills the buzz, doesn’t it?  Well, that’s kind of what’s happening with Google Wave right now.

Early adopters were looking forward to trying out all the functions of this new application (or whatever you want to call it).  However, they’re stuck waiting around for days, maybe even weeks, just to be able to share it with their friends.  With all that Google can do, they can’t even create a system of approving invitations within the hour (or at least the day)?  I’m sure they have their reasons, but I don’t know if they can outweigh the loss of momentum between the initial burst of excitement surrounding getting invited and the follow-up burst of excitement when the invitation arrives and an account can be set up.  I imagine it would be like showing up to an exclusive event that you managed to get invited to only to be forced to wait in the lobby for hours.  Once I do get the full access I was looking forward to getting, I’ll be less enthusiastic about it from the impatience that built up during my wait.

To me it’s ironic that they’re handicapping the system by not giving it its lifeblood: connectivity.  I definitely think things are working against them in terms of the viral spread that is possible.  Wave’s growth is stunted by the fact that great, 100,000 people have it to test out now, but a good portion of them don’t really have anyone to use it with!  I know I’ve got some friends who have had it for a few days and don’t really get to use it creatively because all the people they invited still haven’t received the activation link.  Instead they’re sitting around waiting with us as well.  It’s a pity, really.

And though I’ve resolved myself to waiting probably another week before I can really try it out, I still hope that I get my code soon and keep checking my inbox, despite knowing deep down that I more than likely won’t get it in time to test it out before things pick up again and I have less time to spare.  I hope it’ll actually be impressive enough to reignite my interest once I do get started with it.  Otherwise, this whole delayed invitation process really was a bad business move on Google’s part.

The experience

laelene Posted in general blog，Tags: , , , , , ,
25 July 2009
0
photo credit: Ocha-Neko on flickr

photo credit: Ocha-Neko on flickr

I wrote earlier how things are transitioning from a service market to an experience market.  Consumers aren’t just looking for great service anymore, but want the entire experience from the first point of contact to the last to feel authentic to whatever it is supposed to be.  I found this wonderfully true at the spa I chose in Phuket, where the website, building interior and exterior, and all their services combined for a wonderful sense of tranquility.  That’s exactly how it should be and I’ll definitely go to them when I return someday.

As I was searching for a dim sum place to eat at in Hong Kong, I read about one place that apparently is one of the few restaurants that still served dim sum on carts that are pushed around.  Of course that was the very one I chose, since dim sum just isn’t as fun when you order it off a menu.  It was surprising to me that they’d be phasing this out, since it’s a great part of the experience and that’s what truly makes it unique.  Without that, where is the fun?  Restaurants would do well to keep that tradition alive, or else the dishes become nothing more than some appetizers on their menu.

DSC06412Sadly, when I got to City Hall to locate the restaurant, I found it is under renovation, so I was redirected to a place called Jasmine in the La Jardine building nearby.  It turned out to be one of those fancy places that I hardly frequent, offering bird’s nest and albacore or something like that.  I don’t really care for high class food, but I was desperately hungry and wanted dim sum, so I went anyway.  The food itself was tasty and they still served them in the bamboo containers, but it was so unceremonious it made me sad.  No lady pushing a cart, touting her choices.  No cutting the food in front of me or adding soy sauce and other last-minute touches.  No sheet filling up with stamps to indicate the dishes I’d eaten.  Just a waitress placing my orders on the table.

I can’t wait to go back to the dim sum place I eat at in Alhambra and have a nice hearty brunch with some friends.  That’s another thing – eating dim sum alone is extremely boring!  You can only order so many dishes before you don’t know what to do with yourself.  It’s far better to have more people sharing the dishes so everyone can get a little taste of each yummy item.  So I guess my craving for the dim sum experience will have to wait at least another week.

Consumerism’s path

laelene Posted in general blog，Tags: , , , , ,
27 June 2009
2

Businesses should always be looking forward, spending time innovating and working to stay ahead of the curve (or create it!).  So it naturally follows that they should know what their customers, aka consumers, will want (this is more focused towards actual people rather than organizations).  And where are things headed?  Well, wouldn’t you like to know?  😛

tedSeriously though, I was actually inspired to write this by a TED video I watched where Joseph Pine that explains just that, so let me share its message (or you can just go watch it).  What companies should realize is that the newest frontier in what is valued economically is authentic experiences. Not sure what I mean?  Here, let me break it down for you:

  1. First there were commodities.  They were extracted from the planet and traded.  The key was to supply availability.
  2. Second there were goods.  They took commodities and made something from them.  The key was to control cost.
  3. Third there were services.  They concentrated on how they delivered the goods (and included plenty of customization).  The key was to improve quality.
  4. Now there are experiences.  They take services and stage them in such a way that you go for the entire package (customization of the service).  The key is to render authenticity.
photo credit: thedish.freedomblogging.com

photo credit: thedish.freedomblogging.com

Sprinkles has been a great example of a company that provides an experience.  Sure, people love the cupcakes for their novelty and such, but so many of them go to the store and line up for the entire experience, from the line itself to the door that must be kept shut to keep freshness in to the way they display the cupcakes.  I believe Kogi Korean BBQ operates similarly.  People love the entire experience of tracking down the trucks and standing in lines to order from this little mobile restaurant.

Let’s not forget other classics as well, like Disneyland, where it’s the fantasyland that has been created for you that is such a big draw.  People like to go there and experience other worlds, go on the rides, walk down Main Street, and meet the characters.  Similarly, Vegas is THE experience city of the world.  You go there to get immersed in everything it has to offer, from the gambling to the shows to the endless buffets.  Oh, and let’s not forget those shady people flicking cards of naked women at you (though I’m sure that’s not what you go for).

An interesting point brought up in this video is that all experiences are authentic.  Because to anyone experiencing it, it is real and it affects them.  So really, “authentic experience” is a bit redundant.  Yet on the other side of the coin, since businesses are man made, they are not “authentic” and thereby can’t supply “authentic” experiences.  So what it really comes down to is making the consumer perceive it as authentic.

Now authenticity comes in two forms: being true to yourself and being true to what you represent yourself to be.  Pine provides a nice little matrix here showing the four possibilities:

  1. Real Real: is what it says it is and is true to itself.
  2. Fake Fake: is not what it says it is and is not true to itself.
  3. Real Fake: is what it says it is but is not true to itself.
  4. Fake Real: is not what it says it is but is true to itself.
At night, you can immerse yourself in the stories they tell with the fireworks show.

At night, you can immerse yourself in the stories they tell with the fireworks show.

Disneyland, for example, is a Fake Real because it is not what it says it is (a magic kingdom), but it is true to itself (sticks to company values).  One important thing that businesses can lose track of is its identity, which then makes it impossible to stay true to themselves if they don’t even know what they are.  So on this end, I think it’s important to have values, missions, and goals that everyone knows about so the staff know what is expected and the consumers know what to expect.  Once that is identified, it really shapes the culture of the company, so then it’s just about staying in touch with what that means for all future endeavors.

So, the newest thing is to not only provide a good or service, but to package up the entire process of getting it into a desirable entity.  This could be anything from the ambiance created from decorations and uniforms/costumes to the unique experience itself (like studying at Starbucks or the do-it-yourself style of Build-A-Bear).  It’s the difference between a nail salon and a spa, where the former is more focused on providing the service (though some places add to the experience with massage chairs and drink services) and the latter is about the entire experience, where everything is designed to make you feel more relaxed and pampered.

I hope I’m not the only one who finds this interesting!

The HP Way

laelene Posted in general blog，Tags: , , , , , , , , , , ,
20 June 2009
0

I’m doing some research for internal development at the moment, collaborating with Skim, one of the interns we have for a few weeks during the summer.  She got some books from her school’s library (Singapore Management University Library) for us to peruse in our efforts to look into learning styles and methods, profiling tools, personal development, and organizational excellence, among other things.  I’ve got a nice stack of books to read: Lean Six Sigma for Service, FedEx Delivers, Headless Chickens, Laidback Bears, and The HP Way.

I started with the most intriguing one about chickens and bears, but didn’t see the immediate relevance in the research I was looking for.  Of course, it fits into the whole personal development section, but the time needed to go through that book didn’t seem to justify looking at it first, so I reprioritized and decided to go with learning more about the origins and philosophies of HP.  It’s the smallest book out of the bunch, so I figured at least it’d be fastest to power through.

DSC04927In reading it, I’m still not sure I’ve gotten much out of it and I’ve only got another 50 pages to go.  There’s been a lot of random background stories and detailing of this and that technology that they or their acquaintances pioneered, but hardly much mention of the HP way other than some quick references to their rewarding pay scheme, dedication to quality and innovation, and decentralized structure.  Perhaps it’s because what they were doing at the time was completely revolutionary, but now I find that these strategies are more commonplace and certainly nothing too exciting.  I was hoping for a better collection of sage advice that I could soak up, but instead I find certain ideas reinforced, but not much else.

One thing that really struck me for their start and development was all the help they got along the way, especially from a well-connected and very well-meaning professor of theirs when they met at Stanford, a Fred Terman who time and time again was their guardian angel.  This, coupled with a lot of their other connections that helped them be a leader in their field, stood out to me.  Being the self-dependent type that I am, I am conscious of the importance of mentors, but not very good in seeking them out or using their knowledge and experience to help me grow.  So here again I am reminded of how I am so blessed to have Starfish and Zen here to guide me now, but concerns of how I will maintain the relationship worry me.  I’ve reached out to others who are doing things that I’d aspire to achieve one day, but not yet followed through with meeting up to get advice.

All in all it’s making me consider what my philosophy and approach would be in starting my own business.  I’ve outlined some things here and there but never really solidified anything.  Someday I’d like to have a clear set of visions, missions, and goals to strive for.  I’ll spend some time looking at the success stories including HP, FedEx, Google, and Starbucks.  From there, I can take what I like and modify what I don’t to fit my desires and purposes.  For now, I’m still finding my way.  After all, I still don’t know for sure what type of business I might want!

Fear

laelene Posted in general blog，Tags: , , , , , , , ,
09 June 2009
0

I just finished powering through a book called Turning It On by Robin Speculand, which is basically a collection of stories for the business world meant to be fables of sorts – they all have a specific point and lesson to be learned.  There were some great points I took from it, though I feel at this point in my development, nothing is new except the way and how well it is presented to me.  I mean, I know all this information, but hearing it again and again is what will help grill it into my life and make good habits out of them.  As the 7X7 Rule of Communication states, tell it 7 different times in 7 different ways!  So, though sometimes it feels repetitive, I push on in the hopes that these constant reminders will guide my behavior down a good path.

Fear makes my heart hurt!

Fear makes my heart hurt!

Now what I came across that did intrigue me was a new way of putting an old idea: FEAR.  In this case, it’s “False Evidence which Appears Real” and the four most common ones that are identified are fear of failure, rejection, being wrong, and emotional discomfort.  Funny, I was just talking about this with Starfish yesterday, because I often hold myself back, too afraid to jump for fear of all but the last one, pretty much.  I spend so much time thinking and analyzing, but my fear is what keeps me from putting everything into action.  It’s also what creates a lot of self-doubt, which otherwise is really not justified.  I don’t horrible feedback and I haven’t had a traumatic experience, yet I worry about so many things and how they are wrong, wrong, wrong.  And I hate to be wrong!

Part of the reason I believe in reminding myself is because for something like this that is so ingrained in my way of thinking and framing things, it’s very challenging to change.  But of course, I must strive for nothing but, since it’s obvious that I’m missing out on a lot, whether actually accomplishing what I dream of or learning valuable lessons from my stumbles, falls, and the resulting bruises.  I’m fine with physically tripping and messing up, but I dread doing so professionally and personally in the work that I do and the ways that I handle things.  Alas, so much of life is learning from your experiences (which inevitably include mistakes).  Just knowing I need to work on this doesn’t make it any easier and doesn’t make it happen any faster, but at least I am aware and trying right?  Right?

So, reading about this new way of putting fear really struck a chord with me since this is the very thing I am struggling the most to overcome internally.  After all, I can get a lot of outside support, but I need to change my mentality to truly stop behaving in a timid, fearful manner.  I’m not very good at it, but I think I’m better or at least more willing to consider facing and overcoming my fears.  It’s so strange that I am so hesitant when I’ve had certain failures that I have put behind me and nothing so terrible has happened because of them.  So why, why is it still such a challenge?!

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