Liz Wiltsie

Business Lessons from an EMT

When I decided to get certified as a Wilderness EMT, I knew there would be lessons applicable to my life as a small business strategist. I learned new ways to approach problems and more about myself and my limits.

Your brain can survive for 4-6 minutes without adequate oxygen before you have brain damage. Your body can only lose 20% of its liquid volume before you go into shock and die. These are small numbers and short time frames.

We have lots of ways to remember what to do and when, but you cannot be paralyzed making decisions.
EMTs have to think very quickly, act very quickly, make changes, and know when to get help AND keep a super cool face on the outside.

I’m going to break these down individually and draw a comparison to the business world, also I’ve been reading a lot of Mark Suster‘s writing today and think he has valuable insight, so I’ve linked to some of this work where relevant. I plan on adding to these in the coming weeks.

Think Quickly:

• EMT: Part of EMT training (ok, a lot of EMT training) centers around doing the same things over and over again until it becomes second nature. You’re training your brain to act in a specific way. This way when you turn up the pressure, you may forget your name but you wont forget what you have to do to get your patient out alive. In the beginning, there is no speed. But you build it up. Every encounter you have makes you a little quicker and a little smarter. You’ll never be as fast as you want to be, and that’s a good thing. Pushing yourself to be better is key.
• Business: In business, you have similar core competencies that can be honed with constant practice. You can get quicker on your feet, but only if you decide it is necessary. True, lives are not on the line, but thinking quickly is the first step in moving forward.

Act Quickly:

• EMT: Once you’ve gotten through your information gathering (for paramedics this takes less than 45 seconds, super cool to watch), you must act. There are certain times you stop and fix issues before you finish gathering information. If someone is bleeding, you fix it. If someone isn’t breathing, you figure out why and help them (often at the same time). Either way, you can’t sit around and second guess your decision. You have to move, and fail, forward. If something isn’t working, figure out why and fix it.
• Business: This one is possibly my favorite business lesson. Are you dealing with the same consequences? No. EMTs are taught to trust their instincts. If something doesn’t feel right, it usually isn’t. Act with essentially very little and limited information. The faster you make mistakes the faster you can fix them.
  More reading: Mark Suster,Guy Kawasaki

Make Changes:

• EMT: You’ve gathered information, acted, and now something isn’t working. EMTs make changes. There’s no ego involved saying, but I liked that idea. It was my best work. Someone is bleeding, or not breathing, or seizing and you’re not sure why. Fix it. Analyze (fast) and make changes.
• Business: Businesses don’t always recognize when something isn’t working. That’s not true, someone does, but that someone may not trust their instinct or feel empowered to actually discuss a potential failure. Also, in business, there are always egos involved. It is hard to admit that a seemingly brilliant plan may not be working. But every day spent not making changes is costing money.
  More reading: Mark Suster

Know When to Get Help:

• EMT: An EMT needs to know when to transport, when to call in Advanced Life Support, and when to blast the sirens and go. Again, there is no room for one person to walk in and say, I’ve got this covered. There is always at least one more person. The decision to get outside help, and how fast is key. It takes a thorough knowledge of the EMT, patient, facilities and capabilities.
• Business: Small business owners and start-ups have to be able to do many things well. But everyone has to know where their limits are. Ideally, we’re putting together a team of people who complement each other. Sometimes you need outside help, and knowing when to call in that outside help and who it will be is a very good conversation to have before you have your sirens blaring.
  More reading: Mark Suster

Cool on the Outside:

• EMT: Panic will exacerbate any situation. Someone who was mildly hurt or sick may work themselves into being seriously sick. As an EMT, you have to exude confidence, professionalism, and compassion. A patient cannot question whether or not they are safe in your care. Your team cannot question whether or not you are in charge. On the inside your stomach is in knots, but you can’t let that show on the outside.
• Business: This one seems incredibly obvious. Has anyone else noticed that when working with others (or pitching) you have to exude confidence, professionalism, and compassion?

What Matters Now

Seth Godin worked with some really talented people to compile an e-book entitled, What Matters Now. Take a look at his post about it here, and a list of the authors here. I’ve also uploaded it so you can download it here.

In the spirit of this work here is my list of the things that I think matter now:

Believe – in yourself, in others, in the capacity for goodness and change
Laugh – with your soul, until your face hurts and you’re crying your eyes out
Apologize – and mean it
Forgive – even long standing wrongs
Empower – everyone you can
Be Scared – at least once a day, maybe more
Authenticity – be true to your core beliefs, personally and professionally
Grace – forgive your own mistakes
Learn – something new, be better tomorrow than you were today
Move – in a direction, fail forward

What are yours?

Brilliance on the Internet

Here’s another set of articles and videos that I’ve found worth sharing.

Google Wave confused me to no end. I’ve had my invite for a while, but didn’t really have the time to deal with figuring it out. I had a minute and I came across this video by Epipheo Studios (@epipheo). They do some brilliant work and I’m excited to keep up with them.

Stuff I’ve Learned at Microsoft by Sriram Krishnan has super useful insight for all businesses and businesses people. Well written and insightful.

Seth Godin discusses what brands are in today’s society in a very accessible and useful way with define:Brand by Seth Godin (@thisissethsblog)

My Own Tiger’s Tale by Matthew E. May (@matthewemay). Matthew E. May is one of my favorite writers these days. I like this discussion of the pursuit of perfection.

Potential Square’d

One of my favorite spots in NYC is West Broadway on a Saturday afternoon in the spring. The street vendors there have the best stuff. Everything from clothing to jewelry to paintings. There are many days I’ve wanted to buy something, only to realize I didn’t have enough cash. If I’m lucky, I have $20 on me at a time. For some reason, ATMs on West Broadway between Grand and Houston are a bit scarce. So, I left without buying. That’s probably better for me, but the merchant lost a sale.

As a merchant, it’s important to be able to take payment in as many forms as possible. Making it easier to buy makes more money. It really is a simple concept. This is where Square comes in. Square is a small device and software that allows merchants and individuals to accept credit cards using an iPhone/iPod. The company was founded by Twitter’s Jack Dorsey. For details and commentary see NPR (ed: just added, great interview), CNBC, Technology Review, New York Times, Tech Crunch, Gigaom Read Write Web, and even The Onion.

There is some discussion about Square being redundant when a merchant already has a merchant account. As someone who’s worked in a retail environment, having something like Square as a backup to a traditional system could keep sales running when the internet goes down. Obviously, the phone needs to be running on the cell network and not WiFi.

Another discussion centers around security. Credit card security is a huge concern. Individuals can have their credit compromised for years after a loss. But it is a concern for small businesses as well. When a charge is disputed the individual is credited (almost immediately) and that money comes from the merchant, not the credit card company. So now, the consumer has their money back but the business is without merchandise and cash. It is in a business’s best interest to be vigilant.

Square already has several features that increase security. The reader translates the card data into an audio signal, uses the software to send the data to Square servers, requires a signature, and has an optional picture. No data is stored on the device. Data is encrypted to and from Square servers. Requiring a signature allows merchants to confirm customer identity. I will not pretend that this is all that is necessary, but they are moving in the right direction.

Still another concern is the size of the market. Think for a minute about the number of craft/art fairs, festivals, street vendors, events, and independent contractors there are in this country doing business. Add to that the number of businesses that do occasional mobile business (like trade show participation) or would like a backup system. The market doesn’t seem so small anymore.

As Square moves forward, I would like to see how it handles POS and accounting integration. And I’d like to see how it deals with the rumored Apple POS and Intuit GoPayment.

What are your thoughts?

Water and Twitter

I’m reminded once again how fortunate we are in the US. With rare exception we have clean air to breathe and clean water to drink.

I was recently certified as a wilderness EMT. Part of that course talked about disease and children (among many other topics.) The relevant part to this discussion are the following 2 facts:

1. Trauma is the leading cause of death for children in the US.
2. Diarrhea is the leading cause of death for children in the rest of the world.

What causes diarrhea? Unclean water, mostly. And what most people don’t realize is that it doesn’t have to go on very long to kill children. Our bodies have a certain amount of fluid and we function super well with that much fluid. But the balance is delicate. If there is too much out and not enough in, we go into shock and die. We’re pretty good about recognizing that blood loss is bad, but fluid loss can be every bit as dangerous.

Why am I telling you all of this? Because, yet again, I am inspired by something happening on Twitter. Charity:Water is one of my favorite examples of Twitter use for actual good. They are able to reach a much larger audience than they would without Twitter. Plus, they post pictures of wells they’ve built. If you don’t already follow them, you must.

Today, Alyssa Milano posted a link on Twitter to what she really wants for her 37th birthday. She wants clean water for 5 communities. She’s a great example of someone using her celebrity and social media savvy to make a genuine difference. It is impressive.

December 20, 2009 Edit: Alyssa crushed her goal three times. As of today she’s raised more than $78,000 for clean water. If you look at the list of donors there are a couple people who gave a couple thousand dollars but most of the donations came from people giving less than $37. Many gave $1.

I also came across Laura Fitton‘s Well Wishes campaign. She is another person on Twitter using her influence for this great cause.

HOW TO: Fail at Business

Many seasoned and brilliant professionals have written about learning from failure in business.  But I’m going to throw my thoughts into the mix as well.  One of my favorites is Micah Baldwin who writes about failure on the road to success at his website www.learntoduck.com.  His simple premise is the best way to learn to duck is to get punched in the face.

Personally, I remember my failures far more than my successes.  Just like I can remember the instant I broke my nose playing field hockey in high school and not the numerous games I played without incident.  I know I’m not the only one.  Failure makes us think harder, learn from experience, and fight to prove we’re not worthless.

I worked for a small hair accessories company called Sassy Tails from 2006 to 2008.  The philosophy of the company was simple: prove to young girls that they are beautiful just the way they are and powerful.  Over the course of my two years we expanded our customer base and revenue, brought down costs, and secured licenses with Warner Bros. and Disney.  But we ran out of money and couldn’t secure additional funding.  I should mention that I learned more and had more fun in 2 years than I may ever have again.  I wouldn’t trade that experience for anything.

I’ve thought for a year and a half about what went wrong and what we could have done differently.  So, I’ve decided to write them as a series of failures.

Idea Fail: Great Ideas Don’t Fail – I am an idealist, I will be the first to admit it.  So the single biggest lesson I learned is that great ideas, with great soul, fail.  I thought if our motives were pure that we couldn’t possibly fail.  Lesson: Even the best ideas fail.

Projection Fail: Overly Optimistic Sales Projections – I can make a spreadsheet with the best of them.  I broke out all of our projections by quarter and product.  They were excellent.  But our numbers were not based in reality.  They were overly optimistic (overly may not be a strong enough word).  The danger in unrealistic projections is that you inflate expectations of your investors.  Then when you fail to achieve your high numbers, the investors wonder if you’re on the right track.  Simple math: whatever you think your projections should be, divide it by 5.  Then we’ll talk. Lesson: Unrealistic projections will get you in a lot of trouble.

Investor Fail: Thinking Your Investors Know Everything – While investors are a valuable resource for both capital and knowledge, they are far from infallible.  Also, you are not their only priority.  Your investors will never be there everyday and have to make decisions based on incomplete data. Lesson: Investors have their own motives, and they don’t always jive with yours.

Timing Fail: No Room for Mistakes – Tom Peters writes a lot about the best companies failing faster and therefore learning faster.  With Sassy Tails, we had 120 days to create, get approval, produce, market, and sell product for the Harry Potter license.  We were bringing in entirely new product from overseas in a quarter of the time this normally takes.  The problem: we had no room for mistakes.  When I say room, I mean time and money.  Mistakes are a normal part of the production process, but when you’re pushing everything to the limit, there is no space.  All of a sudden, minor issues become major ones.  Lesson: Make time and leave cash for mistakes.

Trust Fail: Not Trusting Your Instincts – During the same 120 days I knew in my soul that we should get one of our products made in the US and not in China.  Not because I think China is bad, just that overseas production does not work well on that tight of a deadline.  However, I let myself be swayed, we made them overseas.  We were charged too much and the quality was bad.  A couple months later I found an excellent US supplier that ended up being a key resource.  If I’d trusted my instinct, I would have found them sooner and possibly saved some heartache, headache, and cash.  Lesson: Trust your instincts, and stick to it.

Marketing Fail: Not Marketing Properly – I have seen many articles written about the value of marketing professionals.  I agree with anyone who says they are worth every penny.  A great marketing person/group can give you key insight and keep you on the right track.  We made a mistake by allocating more of our cash to production than to spreading the word about our products.  We are not in the middle of Iowa in a baseball field saying “If you build it, they will come.”  This is no Field of Dreams.  If you don’t market your product well, no one will know about it.  If no one knows, no one buys.  The math really is that simple.  Lesson: Build your brand, and market your products.  And do not let the nearest 13 year old build your website, hire a professional.

Cash Fail: Cash Flow Problems – Lately, I have been thinking a lot about the importance of cash flow to small businesses.  While this seems obvious, many entrepreneurs use debt financing or delayed capital to finance their businesses.  And many more just use credit cards.  We didn’t pay enough attention to how the cash was flowing, we counted it often as it should be and not as it was.  One part of cash flow is getting a dead on picture.  WorkingPoint is a great internet based software developed by one of the creators of QuickBooks.  The first user is always free, so it is great for new businesses.  The other key is searching for good rates with suppliers, and terms.  If you can have the product paid for before you have to pay a supplier, you will be in much better shape.  Lesson: Know where your cash is going.

Since I left Sassy Tails, I have worked with several other small businesses putting my hard learned lessons into practice.  The harder you fall the less likely you are to make the same mistake again.  I’m sure I could make a much longer list.  However, I will stop here.  I’d love to hear your comments.

Matte Packaging Trend

I am a big fan of great packaging. I buy books for their covers and I buy food with better packaging. I also worked on designing packaging at Sassy Tails so I give a lot of credit to those companies that put in the extra work.

I also think too hard about said packaging. I think about what that company is trying to convey and whether I’m convinced.

Most recently, I have been noticing a fair amount of matte packaging on food. Full disclosure: I am a sucker for matte. I prefer matte magazines, books, photos, computer screens, etc. I first noticed the matte finish on a bag of Ritz toasted crackers. Then I started paying attention and I almost always see matte on something that is supposed to be good or better for me. Or organic-ish. This example is of Clif Bars. They are organic and good for you. So their individual packaging is matte and the case packaging is printed craft.

Does anyone else see this trend? Also, I am a sucker for it.

Posted via email from wiltsie’s posterous

Fun Packaging

I am testing my posterous integration and giving an example of cool packaging. This is a Method kid soap.

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Product Placement vs. Product Integration

Last night on Twitter, Derek Kompare (@d_kompare) posed the question:

“Hey tweeps: is it still called “product placement” or do all the cool kids say “product integration”? Thanks.”

I responded by saying Product Placement stands out (often badly) and Product Integration is much more organic and subtle.  I also said I would look into more examples this morning.  So I’ve realized that I gave the idealistic definition of Product Integration.

Technically, Product Integration involves characters taking about a product within the show/film.  Check out these articles for thoughts and examples that way, NYTimes from 2006 and an example of Coke in American Idol.

All that being said, I would like to put out my definition of Product Integration.  A well done product integration helps a brand stick out in our minds and compels us to buy/use a product or service.  It is barely mentioned or shown, but its impact on the story is real.

My favorite example is the NetJets integration in the Liam Neeson film Taken.  The story revolves around Neeson’s character’s daughter (Kim) being taken from an apartment and Neeson’s whirlwind journey to get her back within 96 hours.  He goes to tell Kim’s mother and step-father that she’s been taken.  And the conversation continues as follows (not exact):

Step-Father: What can I do to help?

Dad: You have a NetJets membership.  Get me a plane to Paris.

The next scene is Neeson riding in a private plane listening to his daughter’s voice as she was taken.  The point of this scene is a father and his single minded quest.  But the underlying message is that he wouldn’t have gotten there in time without using this service.  There is never a logo, or even another mention.

I could argue that the entire film Fever Pitch is product integration.  It is 2 hours of Red Sox placement.  And that movie is one of my favorite romantic comedies.

Another example is music placement on popular shows like Grey’s Anatomy, Private Practice, or One Tree Hill.  The music becomes another character (per the music supervisor’s design).  At the end of each of these shows, it tells us that music by these artists is available on iTunes.  Grey’s and Private Practice also have music guides on their websites.  I have bought a fair amount of music because it was very artfully done.

In contrast, Product Placement is obvious, annoying, and a real turnoff.  Although articles point to the Coca-Cola cups on the judges’ table for American Idol as an example of product integration.  I see this as product placement at its worst.  I know Coca-Cola is a sponsor of American Idol, but it just makes me want to throw something.  There is no organic purpose for those labelled cups to be there.

So, do you agree with my differentiation?  Or do you think it should be something else?  What are your favorite examples?

Excellent Ad Campaign

As you well know, I am a fan of excellent ads.  Also, I am very picky.  The Pedigree commercial from the 2009 Super Bowl was my favorite from that event.  The concept of “shouldn’t you get a dog?” was well executed.  I find myself remembering more commercials that make me laugh, and a fair few with dogs.

Here is the Super Bowl 2009 Commercial:

The new campaign talks about dogs and love and dogs and poop.  Anyone that can weave that together well has my vote.  See the whole campaign on my playlist on YouTube.