Author: Karthik Suresh

Sunday, 8.48pm

Sheffield, U.K.

Content builds relationships. Relationships are built on trust. Trust drives revenue. — Andrew Davis

There’s been something missing from the last few books I’ve been reading and trying to use in day to day situations.

It started with an increasing tension between strategy and tactics.

Strategy is a having an idea of where you want to end up.

Tactics are about having approaches that will get you there.

So far, so good.

The problem is that it isn’t clear what comes first.

For example, do strategic studies describe what you should do in the future or do they describe what has happened in the past.

And do you hear of tactics that were successful because the people and companies that used them prospered – but don’t know about the people who used the same tactics and failed?

From one point of view strategy and tactics are stories – stories that help us think about the situations we are in and perhaps help us come up with ideas and approaches we can test.

Is there anything a little more durable? Something that we can use in a more robust way?

How about economics?

The problem with economics the way it is taught in schools is that it has lots of maths and complicated words.

When it comes down to it, however, the best definition I read was by Steven Landsburg who writes in his book The Armchair Economist Most of economics can be summarized in four words: “People respond to incentives.” The rest is commentary.

So that takes us to tactics and strategies that we need to use to get ahead in this modern world.

Most people would agree that digital marketing is an essential part of what anyone needs to do now to survive in business.

High streets are being decimated – we use stores as places to browse while we check prices on Amazon or Ebay while taking pictures of products to remind ourselves of what we might like.

The effort that goes into curating products, selling shelf space and staffing those stores is something we are no longer willing to pay for.

When many of us starting making a shift to online marketing we need to develop content.

Content is the stuff that sells for us and the way in which we create and use content is going to make the difference between succeeding and failing.

Why is that?

Economics has a simple answer.

The biggest problem that exists in the real world between buyers and sellers has to do with the amount of information each has about the product.

Old world economics assumed that information was perfect – everyone knew everything and so the price was all that mattered to match supply and demand.

But then why is it that you hesitate to buy a used car?

It’s the lemon problem.

You could be about to buy a lemon. The salesperson knows it’s a lemon. You don’t.

So, what can a salesperson do to help you out?

Well, what they used to do was try and pressure you into buying.

I had that recently with a car purchase. They did all the things – started off saying everything was in my budget then coming out with a price twice as much.

Trying to get me to agree that I would make a decision that very day.

Trying to be my friend.

But you can’t really be pressured in the same way online – which is why so many of us prefer to be there.

So… the skills we need to develop are really the ones that help us figure out what kind of content is going to help sell our product.

What’s the economist’s answer?

Information.

We need to use information to show what we have – to describe it and show it being used and help customers see it for themselves.

We’re all very sensitive to hyperbole.

When a film’s blurb tells you that something is a fantastically told story you’re ready not to believe them. If it was really that good the reviews would tell you that.

That’s an example of not having enough information. Too much information is also a bad thing.

Including every detail that matters to you might well turn people off.

The optimal amount of information shows people what you have and tells them what they would ask if they were in front of you.

A friend of mine points out that selling on Ebay is common sense. Make descriptions clear, use terms that people would use when searching, show the thing from lots of angles – all these things help reduce people’s fears that they are about to buy a lemon.

We are, still, in the very early days of the Intenet.

Everything seems to be about glitz and glamour and look and feel but under it all the only measure of success you need to have is what kind of sales you’re making.

And if you’re not making enough sales it’s probably because you haven’t convinced enough people that what you have isn’t a lemon.

Cheers,

Karthik Suresh

Saturday, 7.39am

Sheffield, U.K.

Pen names are masks that allow us to unmask ourselves. – Terri Guillemets

Doing stuff is easy.

If you’re like most people the work comes naturally.

You can draw or write or file paperwork with the best of them.

So, let’s say you’re looking for a new job, starting a business or creating a new product line – what’s the first thing you should do?

Some people start with the function – the features of what they have to offer.

With you, that might be your qualifications, experience and achievements.

With a product, it might be what it does, the technology it uses and the team behind it.

I normally stumble around in that sort of space for a while trying to work out what it is that I’m trying to say.

Until I worked with a professor who took a very different approach.

She listened to my pitch for a while then leaned forward and said “Okay, so what do we call this?”

I wasn’t sure yet.

So, we sat and talked about possible names, things that this product could be and as we did that, the concept became more real and concrete and tangible.

Names have the power to do that.

In a sense, naming something makes it real.

It’s no longer a hazy idea but a fully formed concept held in words.

Which then leads you to thinking about how to choose a name that works.

Much advice is generic and obvious.

Choose names that people can say, words that are easy to read, unique, memorable, with feeling, energy and the right kind of sound.

Some advice is extensive and almost overwhelming.

In this blog post Nick Kolenda, the author of Methods of Persuasion details how to construct names for whatever you want to do.

It’s going to take a few reads before it sinks in.

Many founders start with ideas for names and the first thing they do is see if the domain names are available.

Both Dropbox and Uber started without owning the dot com domains for their names.

During their funding rounds they bought the names for what seems like a lot – around $300,000 and $1m or so each.

The equivalent value now would be hundreds of millions of dollars.

I suppose to start with there are a few things to work through.

Is your business very specific – like Kate’s Carpet Cleaners or an industry group like General Motors?

Does your brand evoke a promise like McKinsey or make you feel like you own something exceptional like Apple?

The thing that Nick’s article makes clear is that names have shape and sound and colour and feeling and size and gender and more.

Selecting a name may be less about inspiration and more about discarding ones that don’t work.

But there’s one more thing about names that may be helpful to us.

By naming something we give it an identity that starts to separate it from us.

It’s like having kids.

At first, they’re attached to you – a part of you, without a name.

Choosing that name for them is so important when they come out because we’re worried about how they will be treated.

Will their name help them or will they be teased for it?

Also, when we name them we recognise that they are separate from us, independent human beings.

And I suppose that’s what a name does with our creations as well.

Whether its a business, a product or simply a new process, naming it creates a separation from us and we can look at it more objectively.

Many founders can’t get over that feeling of personal attachment to their product and so can’t listen to advice that suggests their baby is not perfectly formed.

Maybe naming the thing we have made is the way we need to let go and let it become the best it can be.

Cheers,

Karthik Suresh

Thursday, 8.32pm

Sheffield, U.K

Where there’s muck there’s brass. – Yorkshire expression

I’ve been finding it hard to work out what strategy you should use to try and make a career change.

Or, for that matter, a change in strategic direction, a change in your product mix or a change in marketing strategy.

Here’s the problem…

You’ve spent many years getting good at doing something – marketing, computing, accounting.

Now let’s say you want to start a business but are not sure exactly what to do.

Should you do something that you already know?

Or should you try something completely different?

If you’re selling a particular product or service should you try to branch out and add more things to your portfolio?

On the one hand, you know what needs doing, you know your market and you should be able to go out there and talk to the right people about what you do.

But, if you enter a different market maybe what you know will give you an edge and you could do really well there.

What to do?

The first thing is to stop thinking in terms of you and what you can do.

Clayton Christensen, a professor at Harvard Business School, has come up with a theory called Jobs To Be Done.

The idea here is that when we have a problem we reach out and find something that will help us solve that problem.

In essence, we hire people and things to help us with the problem we have.

You hire a computer to help you get work done.

You hire shoes so you can walk around.

If your computer or shoes are rubbish you fire them and go look for something else.

So this theory says that everyone and every business has Jobs To Be Done and if you can figure those out then you can sell to them.

Is this a useful model?

I’m not sure yet.

Is there something more behind the fairly obvious bit that people and businesses have things they need to do?

The more I think about this the less useful it seems as a general principle.

As always, everything depends on the specifics – on context.

Many years ago, I was sat on the floor of a room surrounded by invoices.

Hundreds of them.

I was trying to get them organised for some kind of report and as I sat, in a sea of paper, it became clear we needed a system.

So we looked at our options and bought the cheapest one that seemed to do what we wanted.

We had a job to do but, more importantly, the job was mucky and hard the way we were doing it now.

That’s why we hired the system.

Not to do a job but because we were tired of shovelling shit.

The theory also struggles to explain what happens at holidays.

You could argue that one of your jobs is to turn the little people in your house into insatiable consumers of mass produced goods.

Or… in reality lots of people look at something and go “ooooh… shiny…..” and buy it.

Maybe the job they have to get done is get a dopamine rush.

Then there’s the sensible approach where you actually save someone time or money so they buy your stuff.

So, coming around to change…

1. Do you create attractive, shiny things?
2. Do you save people time and money?
3. Do you do a hard mucky job that no one else really wants to do?

If you do 1, then you’re probably in control.

People like J.K Rowling or Kardashian variants don’t sell on reason but on desire.

The second option sounds plausible but it’s actually really hard to sell savings to people.

It might seem like a no-brainer but most people have the brains to realise that a no-win no-fee deal is probably for suckers.

As Warren Buffett says if you don’t know in the first ten minutes who the patsy is then you’re the patsy.

And then for the rest of us… we get paid for shovelling up the muck.

Cheers,

Karthik Suresh

Wednesday, 6.05am

Sheffield, U.K

If it can be solved, there’s no need to worry, and if it can’t be solved, worry is of no use. – Dalai Lama

I managed to screw up my computer yesterday. Quite creatively, by deleting half the operating system while trying to make a program work.

Anyway.

In these days when everything we do is backed up on Dropbox and emails are on services in the cloud that’s not the end of the world.

It did get me thinking, however, about what matters.

An opportunity to start again doesn’t come around that often.

We usually spend our time accumulating things. In fact, we don’t do it consciously. Things just gradually build up over time.

Take emails, for example. Once upon a time we probably had a computer that held our email and if we lost that machine we lost all our stuff.

Then Gmail came out with what seemed like endless storage. But after ten years or so I was surprised to find that I’m getting close to the limits.

Years of personal emails, attachments, newsletters, solicitations and junk over the years have built up to a data mountain – invisible but present.

At the other extreme I watched an animated programme the other day which had a monk in it who casually mentioned to his disciple that their job was begging.

Religious begging has been practised by many faiths. Zen calls it Takuhatsu and it has many purposes.

The acts of having nothing, going out with just a begging bowl and being dependent on others to survive is meant to help the monk develop humility, modesty and escape from ego.

Most of us are never going to do that, experience the feeling of having nothing and being totally dependent on the kindness of strangers.

But, is there anything we can learn from the possibility of that experience?

Can poverty be a good thing?

I heard recently the phrase resources versus resourcefulness.

This is the power that comes from having less.

Stuff can be lost, taken from you or destroyed in an accident.

How long would it take for you to get back up and running if that happened?

Probably less time than you think.

There’s a story about a store in Sheffield that was bombed during the Second World War.

Its accounting records were destroyed and so it could no longer bill customers. But almost everyone paid what they were supposed to and the store is still standing now.

I suppose the point of all this is that bad things happen sometimes.

The more things you have that matter to you then the more you have to replace.

If you had nothing, it wouldn’t matter.

Somewhere between those two extremes is where you want to be.

But, the harder you try to have less, to do more with less, the easier it is to be free from worry.

Cheers,

Karthik Suresh

Monday, 5.54am

Sheffield, U.K.

To know and not to do is not yet to know. – Zen proverb

Change is hard.

If you you disagree with someone else’s beliefs what do you do?

Do you try and persuade them to change?

And, if you have tried that, how did it turn out?

In my experience, people attach themselves to views and find it very hard to loosen themselves without feeling like they are losing face.

Without feeling embarrassed.

And that makes sense, because that’s how many of us feel in the same position.

Making changes at a larger scale is even more difficult. Getting people to act and do something in a different way.

It comes down to something very basic.

Fear.

We’re afraid of what will happen if we do something different.

If we leave our job, will we ever find another one?

If we try and pursue what we think we love, will we find that we aren’t as good as we think?

What if no one comes to see what we do, or buy what we make?

So, what do you do with fear? That thing sitting in your way blocking your path, stopping you from moving forward?

And there is no right answer.

There is doing, and seeing, and learning, and doing again.

For example, many people are looking at developing portfolio careers.

This is when you do a number of jobs rather than one main one.

For many people, such portfolios of jobs are more flexible and rewarding and a better fit with their lifestyle and responsibilities.

So, if you want to move from where you are now to somewhere else, how do you start?

Slowly

You can’t do anything other than start slowly.

You’re slow because you don’t know everything yet, you don’t have the relationships and connections to help you get things done and you might not be sure what the right way is anyway.

Slow is ok. Slow is good.

Slow is better than stuck.

For example, with that fear blocking the road, what could you do to try and edge past it?

You might start by volunteering – helping out at an organisation that does the kinds of things you want to do.

Once you’ve readied yourself to do something new then you’ll start to see opportunities when they come in front of you.

Maybe you can take some of them.

You might be an analyst in your day job. But that doesn’t stop you doing some search engine optimisation consulting for small businesses near you.

You might take pictures on weekends – and could submit them to magazines.

Or perhaps the flexibility of being an Uber driver might work for you.

The last few drivers I’ve met have all chosen to drive – perhaps while starting their businesses, or winding down to retirement, or because it fits their lifestyle.

The idea is to try things – have a go at different options and see what happens.

If something works then you have validation – you have proof that your idea might work and you should put more effort into it.

Then again, being slow might simply be an excuse to not do anything.

In that case, do you jump?

Do you quit what you’re doing now and try and make it in a new career?

The advice would normally be no – but it really depends on what happens if things don’t go as planned.

If you have enough savings for a month’s worth of expenses then taking a leap is probably not a good idea.

If you assume that it will take between two and ten years of trying to get back to what you’re making now, then you need to be clear on whether you’re in a position to do that.

Can you go a year without income?

If you can – then jumping may be an option. And sometimes that’s the way to really do it – commit and leap.

To change you must first get past the fear of what might happen if you change.

You can try and sneak past it, trying experiments and side hustles and second jobs.

You can try and push past it, reducing your hours at your job and taking on other projects.

Or you can run straight through it.

But to change anything, you have to do something.

Anything.

In the end, what you’re defeating is yourself.

Your fear.

Cheers,

Karthik Suresh

Thursday, 9.30pm

Sheffield, U.K.

There’s more than one way to do it. – Perl motto

I’ve been thinking a bit about where one really adds value.

The late Felix Dennis wrote a book called How To Get Rich where he said that there is one talent you must have.

And what is that?

The talent to spot talent in others. To recruit that talent and nurture it.

But what if you’re that talent… how are things going to work out for you? Or for your kids?

Felix has a lesson later on. As talent gets older, he says, it gets expensive. Young talent can be underpaid if the work is challenging. Then, it’s paid at the market rate. Finally, it’s paid for what it did in the past, and that’s when you part ways with it.

And really, that’s an important lesson. In a traditional career path we climb a ladder. The idea is that we get on the ladder because of what we do and then we climb it because of what we can get others to do.

Its the whole making versus managing thing.

But really, what is a manager other than an intermediary between an owner and the customer?

When you look around you at people and what they do you start to see that programming is increasingly at the heart of everything.

If you work in an office you probably spend a lot of time doing stuff using Excel. That’s programming.

If you’re creating music, or art, or architecture you’re still probably using a computer.

Even if you do something that is a craft, like designing and building wooden stools or jigsaws, you’re probably going to use a computer to help you.

Telling a computer what to do is programming.

Okay – so that’s obvious you say – clearly the world is heading that way. What’s the insight here?

Well, the point is that there is a period of transition.

A period of pain for those who don’t get it.

And a period when they have to make choices.

The kinds of jobs where we add value really fall into two areas.

Either we make something that people will buy.

Or we sell something that people will buy.

Anything else really is a cost – and costs are things that you really want to get rid of.

If you’re doing something that gets you labelled as a cost then you’re going to have a rather fear-filled working life.

I think kids need to get this straight.

Either they’re good with people and can build relationships with them.

That’s worth a lot.

Typically between 10 and 60% of the value of a product.

For example, wouldn’t any of us pay 20% of the price of our product if someone else brought in the customers?

The remaining 40-90% goes to the owners after they pay their staff – the ones that make stuff, and the other ones.

I’d tell my kids to make sure that they’re making something.

And that making is the same as programming – programming an app, automating something, creating music or creating a product.

And if they don’t like that then just go out and learn how to sell.

I suppose you might, at this point, point to the public sector.

Well… that’s where you need to ask how much value is being added by some of the things that happen over there…

Brexit anyone?

Cheers,

Karthik Suresh