Our guest writer, Larry Chiang, is at times a tortured blogger. If you have seen his GigaOm post, “9 VC’s You’re Gonna Want To Avoid” to, then you read his ONE Techmeme hit.
This article might be part of his book…
By Larry Chiang
San Francisco, Calif — November 7th — Web 2.0 Summit
I am sleep deprived and in creative mode at “Web 2.0 Summit” (as opposed to execution mode when I’m in Palo Alto CA). Here is what I learned at Web 2.0 Summit:
-1- New networking rules. It is who you know AND what you know. In the networked economy you can NOT fake-it-until-you-make-it. Web2.0 is about transparency. You might get your foot into the door but whether you stay is based on talent.
-2- Sweet and sour makes food really yummy. Question: what makes an egg roll taste oh-so, ah-so good? The sweet and sour sauce. The best food (and drink) combine both sweet and sour simultaneously.
Workplace community interaction is the same way. Be really nice (sweet). Be really sour (mean).
*** SWEET TWEET #1 ***
@DanielBru if u were here, I’d showcase u as the emerging entrepreneurial titan u will be #web2summit From @larryChiang
*** MEAN TWEET #1 ***
#web2summit Just hope google’s Matt Cutts stays in the SEO dark when people search “FreeCreditReport” Re: FTC violations From @larryChiang
*** MEAN TWEET #2 ***
@ acEdge maybe meetings/content @ #web2summit pale in comparisson to an FTC repeat violation site; FreeCreditReport.con From @larryChiang
-3- Fail right. Fail loudly. Fail publicly. At web2summit, I started a business charging iPhones. I charged $3 for a half charge and $5.50 for a full charge. My marketing plan was word of mouth, twitter and my personal sales effort. The AC chargers bulging from my pocket did not hurt either.
My first customer was Dave McClure. I failed miserably because Richard, the Palace Hotel front desk manager, took the phone into lost and found. The silver lining was publicity of being most entrepreneurial at an entrepreneurial conference.
A different type of fail was by dressing really, really, badly at a conference
PHOTO CREDIT BRIAN SOLIS
-4- Gain a zero, lose a zero… You’re still the same guy. Elon Musk is in deep with Tesla Motors. When he was a web 2.0 summit, he was fresh and fluffy. I did not see much entrepreneurial stress there because gain or lose a zero, Elon is the same guy.
-5- BizSpark from Microsoft springboards your company with servers and stuff if you
A) are less than 3 years old
B) have less than a million in revenue
-6- Facebook is HUGE in France. Claiming you are big in Europe, is a manuever normally reserved for tier-three bands. Facebook’s stagnation in the U.S. of A. coupled with low CPMs stimulated Mark Zuckerberg, CEO, to (over) extrapolate his current 7% into a mind-blowing 20+% market penetration in France.
“We might even open up an office in France,” quipped the 23 year-old paper billionaire. Mark, they pay you to increase sales and build shareholder value versus open up sexy offices in faraway lands.
-7- Di-worse-ification is another cautionary business tale. Elon Musk is starting a car company, Tesla on top of an existing space exploration company, spaceX. Fighting a war on multiple fronts causes you to di-worse-ify yourself.
Back when Mr Musk kicked back-to-back-to-back ass, he focused on ONE thing a time in sequence without overlap. Zip2. X.com, PayPal.com.
-8- People don’t read twitter. VIPs nearly never read Twitter. I did testing with TWITTER CONTESTS using giftcards, fleece jackets and even a $100 cash prize. CONCLUSION: people do not read twitter. If they do read and reply to your twitter, tip, bribe, comp and tip them.
I said ‘tip’ twice cuz it works the best
-9- Cash isn’t king here at web 2.0. 80% of your time as an entrepreneur should be spent bringing money in the door. There has been very little time spent talking about revenue and methods to generate sales. Me and Baxter love liquidity Fridays
Good luck out there and text/call me during my office hours of 11:11am (and pm) +/- 15 minutes. PDA to sms: 650-283-8008. Landline to call 650-566-9696.
Larry Chiang is the founder of Duck9 LINK “DUCK9: which educates college students on how to establish and maintain a FICO score over 750. He has testified before Congress and World Bank on credit LINK “World Bank on credit“