The Startup Experts Pattern – choices.

As one of my readers pointed out there are not enough cross references between the percentages I presented in my previous post. I get the cross references from reading each and every questionnaire filled. But the software doesn’t analyze the connections between choice on question 1 and choice on question 6 for instance.

Sometimes I read a filled questionnaire and I am saying to myself – here is someone I would love to work with. On other cases I can tell here is someone whose path will most likely won’t cross mine.

What I find most exciting are knowledgeable people. They may or may not have formal education, but you can grasp how much they know from the replies they choose. Sometimes the hint is in the experience section. But more often they remind you of Plato’s “This I know – that I know nothing.” Open to learn from anyone, anywhere, anything. These are the most interesting people to work with. Working with such people results in the sum of parts being greater than the whole.

Here is an example to one who I’d like to meet, whether I’d work with him or not.
The young CEO, who has a lot of formal education and extensive experience, who stated he did and will do all strategic planning on his own, and under opinion on consultants chose “didn’t find the answers to my needs”.
I find this choice intriguing. He could have said “I don’t need it”. But his choice stated that there is something missing. I am not sure he had put his finger on it: not sure what might be out there for him, he is still open to the thought that some outsource might pop up with an interesting addition to the self resources this CEO has. Makes me wonder about brainstorming with him. Hmm…

The Startup Experts Pattern

A couple on months ago I initiated a survey, aimed at learning my own market – the market of startups and hi-tech entrepreneurs and their approach to contracting expert help.

I would like to share the current results on the startup pattern survey. An updated summary will be published when I have more responses. If you didn’t fill it yet go to:
http://www.yourpinion.net/The_Startup_Experts_Pattern

Here is a summary of the initial results, in percentages:

Who participated?
66% entrepreneurs who answered are from the Internet and media industry.
10% Enterprise software
10% Life Sciences
3% wireless/mobile

41%- are in the idea stage/initial development/bootstrapping.
28% are looking for seed money.
14% are after a first round investment.

55% have a founding team only
14% of the companies have 10-25 employees.
10% have up to 5 employees.

72% of the participating entrepreneurs are males.
24% are females.
The rest didn’t fill in this detail.

52% are between 25-35 years old.
38% are 35-45
7% are 45-55.

Education –
41% have business experience and 34.5% have startup experience.
38% hold a BA, 31% hold an MBA and 13.8% are engineers.

Title:
35% describe themselves as entrepreneurs
21% as CEOs
17% as serial entrepreneurs
10% as VP Marketing or Business Development.
Only 3% – CTOs

Location – nearly 45% didn’t select a location.
21% are from the Sharon area
14% are located in Gush Dan
10% are not in Israel
3% are in the north of Israel
0% in from the south.

The pattern:
Only 65% have a business plan and/or executive summary.
55% have a also a marketing plan
24% have a communications scheme or branding strategy in addition
24% don’t have any of the above.

59% said they did their business plan/executive summary/marketing plan on their own.
27% used the help of a business consultant
24% used a lawyer
24% used a graphic artist or studio
21% used internal resources
14% used a marketing consultant
7% used a communications strategist

To the question which resources you assume you may use in the future for strategic plans:
55% said they can do it on their own
44% said they will use graphic artists or studios
41% said they will use a business consultant
38% said they will use a marketing consultant
31% said they will use a lawyer
28% said they will use an accountant
17% said they will try a branding consultant or firm
17% said they will need a copywriter
17% said they will manage strategic plans using internal resources
14% said they will use a communications strategist
10% said they will use an outsourced project manager.

What outsources will you use if you had no budget limitations?
65% – a strategic consultant
59% – SEO search engine optimization
55% – PR
55% – web marketing specialist
51% marketing consultant
52% – graphics studio
52% – branding firm
45% – copywriter
45% – research and information specialist
35% – Communication strategist
24% – naming expert

Opinion regarding hiring professional consultants or outsources:
38% – can’t afford it
17% – prefer to do it in house
17% – are concerned because of legal/patent/secrecy issues
7% didn’t find outsourced answer to their needs.

Preferred method of contracting help:
52% – agree on a project’s budget
14% – hire employees
10% – get full time partners
7% – agree on an monthly retainer fee
7% – agree on a reduced fee plus equity or options
3% – pay an hourly rate

The sequence: getting back to work

Getting back from a vacation when you are an independent consultant is something else. You pick up at your pace. Men have a different pace than women. In the women’s paces you need to count some family paces too. Meaning, a woman business owner is responsible for getting her whole family back on track. The man will simply kiss good bye and get into his office, for as much over time as needed to get to his full speed.

Getting back in August is even trickier. It seems like half the world is on vacation. Companies, institutions, government entities – are all out of the office. This is perhaps a better time to return, because you can really build it up slowly. But it is the worst time to be back if you want to pick up at exactly the same speed you left. Frustration seeps in your mind each time another phone call remains unanswered.

But honestly, this quiet zone forced on you is not a bad thing. It is the best time to review your business plans, your communications schemes, do the web site update, schedule events, go over the long long list of to do items.

One of the more important things to accept is that your real getting back from a vacation will happen when the rest of the world returns. That usually happens in September. So take a deep breath and be happy for the relaxed pace of getting back to work. You will have the rest of the year to be stressed.

Vacation Can Happen!

I don’t have to submit a vacation request to my employer. I am an independent consultant, after all. I can come and go as I please. Last year I had heavy doubts before I dared to take some time off during the summer with the family. This year it was a little easier.

I still worry about taking a vacation without jeopardizing my one-person-show business. The same questions keep popping into my head about when to stop and then how to restart. But the summer has its own pace and a vacation seems to be a part of it.
Seeking approval I discussed this topic on the DEI (Digital Eve Israel) list last year. Got reassurances all around. Some suggested using blackberry or a laptop, other suggested a complete relax, provided I don’t leave a project in its course. Last year was OK: I finished a project just before going and got back days before the beginning of the new school year, marker of new projects beginnings.

So here is a quick reminder why a vacation can happen even when you are a sole proprietor:
-The fact is that I am a marketing and communications consultant. I am not solving global warming. The world won’t end if I’m gone a week or even two.
-I must inform clients and contacts in time, finalize projects before the vacation. Plan the schedule so it won’t interfere with significant clients’ events. Go for August, most people all over the world are going for August anyway. How significant can anything done on August be?
-I try not to start new projects until after my getaway. And tell everybody. Set a vacation response for my email.

Go for it.
Rest.
I just want to turn off my brain and stop the ongoing convincing. The summer is slower anyway. Let’s look for a totally different environment. An internet connection is preferable – but I am setting myself in a vacation mode. No emergencies. I want all the family to relax into a non-emergencies atmosphere. Enjoy each other’s enjoyment. Fill your lungs with air and water your eyes with fresh sites.

Next: getting back.