David Feldt Proud father. Entrepreneur. Builder. Catalyst. Accelerator. Guide.

2Feb/120

The Blueprint For Conquering Fear

As every entrepreneur knows, one of the most powerful secrets to success is conquering fear and pushing forward.

Many books have been written about this topic and, for me, it's one of the most important lessons to learn in life.

This week we read the classic story of the Israelites, their exodus from Egypt and the famous moment when they face the Sea in front of them and the approaching Egyptian army behind them.

The story reveals the blueprint for conquering our fears.

There are four patterns we fall into when facing a seemingly insurmountable challenge:

  1. Self sabotage - self sabotage is caused by fear of rejection or failure. However bad things may seem today, there is always a brighter tomorrow to work towards.
  2. Fight - Fear can cause you to want to fight when doing so can have the exact opposite effect to that you desire. Fighting battles takes energy that is often better spent being productive. Remember that fighting is a backward motion.
  3. Retreat - Often our fears causes us to want to return to what is familiar rather than to face challenges. Why is this? Because the threat of the unknown appears much larger than it really is.
  4. Helplessness - Very often fear causes inaction at a time when action is vital!

The answer is to simply journey forth, or as Nike says, "Just Do It!"

Concentrate on going forward. Always face the future, not the past. You need no longer fear the enemies that you have already conquered. Face the fear and act. A good business person never surrenders his or her business to fate. The moment you start blaming unseen forces (the market, the economy, the competition, ...) is the moment you relinquish control.

Help yourself. You have to act. You are responsible to act.

Miracles occur only AFTER you've conquered your fear and moved forward.

In the story, Nachshon is the first to enter the Sea. He enters the waters and keeps going. Nothing happens. He continues. It is only when the water reaches his nostrils, as he is about to drown, that the Sea splits and the entire nation is able to cross to safety. Nachshon was courageous and faced his fears but he had to (be willing to) push beyond  his limits before the miracle occurred.

It's better to be an imperfect achiever than to avoid the journey altogether.

Journey forth!

5Dec/110

Human Character, the Final Frontier

I was born in South Africa and left the country in 1984 during the darkest time of Apartheid. When I left, I didn't see any hope for the country. It appeared to be headed for ruin.  Little did I know.

For me, Nelson Mandela represents the highest order of humankind.

Here is a man who spent 27 years behind bars fighting against the evil of Apartheid and when he emerged from prison to become the President of South Africa in 1994, what did he do?

Instead of pursuing a path of vengeance and retribution (as most people feared and what a lesser man would have chosen), he pursued a path of reconciliation and unity.

His leadership and example actualized one of the most powerful miracles in human history - He transformed an entire nation.

I have always marveled at how Mandela, who had gone through so much personal pain, loss and anguish, could rise above it all, become such a powerful leader and force for positive change.

He pursued the "heroic path" as described in David Lapin's new book, Lead by Greatness, How character can power your success.

As we approach 2012, the world is facing major challenges and we seem to have lost all faith and trust in our leaders and institutions, be they political or corporate.

We are all searching for new models, new paradigms and new structures for the post-industrial age.  We've exhausted our natural resources, our financial resources and exploited our technology.

What's the next frontier of innovation and growth? Humanity itself, or more specifically, our human character. This is the thesis of David Lapin's book and it is profound. He shows us how we can all become heroic leaders and transform ourselves, those around us and ultimately our entire world.

Mandela demonstrates the eight character traits that David Lapin discusses in his book: Authenticity, destiny, mastery, humility, vulnerability, generosity, awareness and wisdom. Too many leaders today have tipped the scale in the other direction with stories in the news every day about some new scandal, ponzi scheme or corrupt behavior. We obviously need more people like Mandela. People who have the courage, vision and resolve to take the heroic path. People with similar character traits to help lead us to a better place.

David Lapin's book provides us with a unified roadmap that can take all of us on this much needed heroic journey. He fuses together ancient spiritual principles, modern business philosophy and twenty years of practical, global application to provide us with the roadmap.

This book should be mandatory reading for all of us who seek to transform our own life and the institutions we build.

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The image above is of President Nelson Mandela shaking hands with the Springbok captain, Francois Pienaar, during the 2005 Rugby World Club. Mandela enlisted the national rugby team in a unique venture to unite the apartheid-torn land. This powerful story was captured in the movie Invictus which was directed by Clint Eastwood and starred Morgan Freeman as Mandela and Matt Damon as Pienaar.

 

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14Nov/110

Rethinking (Online) Payments In A Post-Credit Card World

In a sea of startups with non-existent or ill-defined business models and me-too ideas, here's a wonderfully simple idea that has huge revenue and profit potential.

Dwolla was founded by 28-year old Ben Milne in Des Moines, Iowa.

After paying an exhorbitant amount of fees to credit card companies, he and his team decided to rethink (online) payments and build something to bypass the credit cards companies.

He has created a disruptive payment platform linked to the existing ACH payment network that all banks use.  Dwolla has the potential to dominate e-commerce, m-commerce and s-commerce in the years to come.  Unlike Paypal and Square, which sit on top of existing credit card platforms, he enables payments between consumers and merchants without the oppressive credit card fees.

Dwolla charges 25c - yes, a quarter - on every transaction regardless of the amount of the transaction. Not your typical 2.9% of total amount sent plus $0.30 per transaction that others charge.

Ben's focus is clear: "To maximize the value of every electronic financial transaction."

Why do I like Dwolla so much? Here are 7 reasons:

  1. Rethinking an industry - there have been many mobile payments solutions since PayPal but they all utilize the same credit card network, including Square. Here's a small team in Iowa who have rethought global payments and created something unique and smart.
  2. It's about revenue, transactions and money - this startup is focused on making money from the get-go. It's not just another trendy social media photo sharing app with no business model. Its focus is to maximize the value of each financial transaction that's made online. It takes a tiny transaction fee and allows its customers (merchants and consumers) to keep more of their money. Simple. Powerful.
  3. Serial entrepreneur who has had financial success - Mr Milne is only 28 and has had proven success before.
  4. Multi-sided platform with API and tools to allow explosive network growth - Dwolla is a multi-sided platform and it provides a seamless API which allows developers and third-party companies to build an extensive ecosystem with great ease.
  5. Smart investor choice - Dwolla chose a major financial services company as its investor and has leveraged the connections, knowledge and footprint of this investor to test and grow its platform.
  6. Smart distribution strategy - Dwolla doesn't just rely on the typical social network effect to sell itself.  It is selling itself as a financial product via its financial services investor network
  7. Exceptional user experience - Easy, well-designed user experience ensures adoption.

 

 

23Oct/110

Why Does Amazon Have Differential Pricing In Different Markets?

Here's the Amazon price for the Steve Jobs autobiography that is sure to become an instant bestseller:

On Amazon.co.uk: (50% off regular price) [ = USD $19.96 as of midnight October 24, 2011 ]

On Amazon.ca: (37% off regular price) [ = USD $23.07 as of midnight October 24, 2011 ]

On Amazon.com: (48.9% off regular price)

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19Oct/110

Scary Apple Chart?

Business Insider just posted the chart below and labeled it:

"Here's The Chart That Should Scare The Heck Out Of Apple Investors..."

 

Well, "market share" and "units shipped" aren't the metrics that has driven Apple's stock price to North of $400.

Innovation, or more importantly,  Apple's ability to monetize innovation has. Simply put, Apple generates vast PROFITS.

How does its profitability compare to the other players in the mobile phone space?

Here's a more instructive chart (courtesy of Asymco.com) that continues to make Apple investors very happy:

 

 

 

5Oct/111

Return

UPDATE: I wrote the post below earlier today before hearing of the tragic news of Steve Jobs' passing. Steve was a mentor that I never met.

My first Apple product was an Apple II and I remember the wonder of creating my first computer program in BASIC. Since then I have owned the following Apple products that have enhanced my (technology) experiences:- Macintosh, Powerbook, Macbook, Macbook Pro, iMac, iPod, iPod Touch, iPhone, Mac Mini, Apple TV.

Here is one of Steve's famous quotes that says it all:

“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”

This blog post is in your honor Steve as you return to the Creator. You will be missed. Your vision and contribution to the World was incredible. You are the DaVinci of our time.

=====================

During the buildup to the High Holidays, there are several core themes to help us reboot ourselves and the world around us.

One theme that resonates most strongly with me this year is that of "return", especially during the period between Rosh Hashana and Yom Kippur.

What do I mean by "return"? I'm not referring to "return on investment" but rather to a more fundamental personal return.

It's a time to return to one's individual essence and to reconnect with the universal source of life.

It's a time for self-reflection and self-analysis.

It's a time to look back on the past, recognize the errors one has made and commit to changing oneself for the future.

It's a time for forgiveness.

Most importantly for me, it's an opportunity to reconnect to one's true essence, to be re-energized and to ensure that one is on the correct path. In computer vernacular, it's the opportunity to reboot the system, remove the viruses and restart.

It's important to return before once again running forward on the journey of life.

I can't believe it's been two years since I founded JazLabs - I am so happy and lucky to be doing what I do every day at JazLabs.

It would be so easy during this current time frame, that is so filled with uncertainty and market volatility, to simply focus on survival and self-preservation.

At JazLabs, we're focused on the exact opposite ...

Growing and building a company from the ground up has allowed me the opportunity to create an entity that integrates my personal beliefs and values with my business culture and leadership style.

This has attracted customers, clients, partners and employees who share these beliefs, values and culture to collaborate together to build and grow some wonderfully innovative products and services.

We've certainly experienced the entrepreneurial cycle of ecstasy and despair during the past  two years and continue to learn, pivot and iterate every day to push forward. That experience has been so fulfilling and I'm looking forward to the next 20 years!

 

24Aug/110

Success

I'm spending a few days with my family recharging my batteries and relaxing ... I came across this quote from Viktor E. Frankl that I love:

"Don’t aim at success - the more you aim at it and make it a target, the more you are going to miss it. For success, like happiness, cannot be pursued; it must ensue, and it only does so as the unintended side-effect of one’s dedication to a cause greater than oneself or as a by-product of one’s surrender to a person other than oneself."
— Viktor E. Frankl - author of “Man’s Search for Meaning”

10May/110

Why Apple Is The Most Valuable Brand In The World – A Personal Story

Yesterday, on the day when Apple became the most valuable brand in the World, I had a personal experience that reinforced why Apple IS the most valuable brand in the World.

I recently lost my iPhone and called my mobile provider to arrange to get a replacement. After a 30 minute conversation with their customer service rep on the phone, I was assured that everything was in order and that all I needed to do was to go to one of their stores and pick up my new phone.  When I got to the provider's store, they told me that they didn't have any stock of the new white iPhone 4 and that I would have to go to an Apple Store to get one.

I walked into my local Apple Store which was buzzing as usual and Matthew came up to me and asked how he could help me.  I explained that I'd lost my iPhone and that I needed a replacement phone. I told him that my mobile provider had sent me to Apple Store as they didn't have stock.  His first words to me were, "No problem, I'll be happy to help get you setup." He led me to the closest iMac and launched an app which connected him directly with my mobile provider's backend. He typed away for 30 seconds and discovered that there was no record of my 30 minute conversation with the provider.  He got on the phone to them and went back and forth with them to solve my problem.

I stopped for a second and realized that this was an Apple employee in an Apple Store solving my problem with my mobile provider on my behalf.  While he was on hold, he pulled out his iPod Touch and hit a few keys. Within 30 seconds, one of his colleagues emerged from the back of the store carrying my new iPhone.

Not once did Matthew stop and say, "Sorry sir, there's a problem with XYZ Mobile company. You'll have to call them to resolve it."  He just took care of business and apologized to me for the delay!

No passing buck.

No "it's not my problem".

No attitude.

No excuses.

Only superb customer service above and beyond anything I've ever experienced.

His actions reinforced why I love Apple so much and validated why Apple is the most valuable brand in the World. Yes, they build and distribute magical products that are beautifully designed. Yes, their retail stores are gorgeous and they have the highest gross sales per square foot of any other retail store. But most importantly, they have a culture of excellence, a culture of zero-defect, a culture of service and they attract and nurture employees who share these values and beliefs.

Thank you Matthew! You have made a very personal connection and reinforced why Apple is the most valuable brand in the world.

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5Mar/110

(Why) Your Brand’s Future Isn’t On Facebook

We all know that Facebook has 500+ million members and that 50% of them use the site on a daily basis.  The stats are overwhelming. There can be no question that Facebook is the powerhouse of social media and that people are addicted to it. Just look at how Zynga's leveraged Facebook's phenomenal growth to reach a reported pre-IPO valuation of $10 billion.

So, what does this mean for brands? Mark Zuckerberg said the following at the Web 2.0 Summit late last year:

I think that over the next 5 years, most industries are going to get rethought to be social and designed around people. This is kind of the evolution we’ve seen at Facebook.

Anyone paying attention to what's happened in the world over the past 5 years would have to agree with the Facebook founder. I know I do --- I've founded two businesses in the past 18 months that are both focused exclusively on innovation within the social business web.

The current hype around Facebook for business reminds me of the glory days of AOL back in the 1990s.

Can you remember that far back?

At the peak, every TV ad seemed to have those AOL keywords which are analogous to today's Facebook fan pages. We all know what happened to that strategy.

Every agency is telling its clients to "fish where the fish are" and the fish are definitely on Facebook.  We've seen gigantic growth of Facebook fan pages and the top 50 corporate brands on Facebook have a collective 458,033,721 fans who "liked" them!  There are very successful startups who are capitalizing on the Facebook fanpage phenomenon ... Increasingly I'm hearing people suggest that the corporate website is dead and that all the action is now taking place out on the social networks, with the Facebook platform being the key benefactor.

So, should your brand jump on the Facebook bandwagon?  Should you abandon your own website and simply set up a Facebook fan page instead?

Many brands seem to be following this path and on the surface who can argue with that 458 Million number.

What's Zynga thinking today? It is looking to hedge its bets and create it's own platform.

I'm suggesting that you do the same thing for your brand too.

Build your own social business platform.

Yes, the social phenomenon is real and it will transform the way business operates. It's already done that and I'm a strong believer that we are only at the beginning.  We will see dramatic innovation within the social business arena over the next few years. So, instead of just relying on Facebook to be your "social voice", look to build your own social platform that you can control and tailor to your own unique business needs. Why do I say this?

1. Your customer data is the most valuable asset you have

  • Don't simply hand that data to Facebook

2. Your customer conversations are what ultimately drive your brand value

  • Don't simply abdicate responsibility or ownership of the conversation to a third-party platform like Facebook
  • Facebook fan pages are very successful for the global CPG and retail brands like Coke, Starbucks or Red Bull. Facebook fan pages for these brands help spread the buzz and are great promotional tools. Starbucks is starting to add useful functionality to its fan pages (see the image at the top of this blog post) but do you want to build mission-critical social apps on top of Facebook without any real ownership of the traffic or the data? Just look at what Starbucks has done with their My Starbucks Idea site. They are listening, engaging, responding and innovating together with their customers within their own brand platform.

3. Your customers want to use your website to achieve specific tasks

  • The social dynamic is a fundamental transformative force but we shouldn't forget that your customers choose your brand to accomplish specific tasks.  They're not going to do that on Facebook. They want to do that on your secure platform.

Bottom line, social platforms are the way of the future. My advice is to build your own social platform and hold your brand's destiny in your own hands.

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9Feb/110

The Missing Link In Air Travel

I spent most of Tuesday flying across North America going through three airports and traveling on two different airlines.

Those of us who travel frequently (seem to) have resigned ourselves to the inhumane travel experience:

  • The atrocious TSA experience which resemble human assembly lines ... people lining up, taking off their clothes, putting on their clothes, being scanned, prodded, searched and treated like criminals
  • The planes which resemble the cliched old Greyhound buses with broken seats, broken lights, smelly toilets
  • Flight departure delays; seemingly endless circling on arrival that adds 15 - 30 minutes to your flight
  • The list goes on and on ...

The last one hour flight I took at 9pm revealed the missing link in air travel.  All the logistics, planes, terminals and gates have made us forget the key ingredient : The Human Connection.  Air travel is fundamentally a service industry and the power to innovate and improve this experience lies in the hands of people - many people in many roles.

There was one key person who actually made that human connection on Tuesday:

The flight attendant on my United Express flight out of Houston was phenomenal. She's been in the industry for 20 years and one would have expected her to be jaded, tired and robotic. Instead, she was funny, energetic, helpful and caring. She engaged passengers with an authentic empathy and I saw her actively solving problems and helping people. As she walked by me, she saw that I was struggling to read my book in the poor light. Without being asked, she unscrewed the light fitting so that I could have more light to read. "Don't tell the maintenance people I did that", she said.

A simple human gesture that literally shone Light on my day.  Thank you.

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