Grow LIKE Facebook

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Facebook is one of the world’s fastest growing companies.  How did they do it?

An uncompromising commitment to quality growth. As a matter of fact, they wrote the book on it!

The Founder’s Dojo HQ is in the heart of San Francisco. Here in the center or the new – the hottest business concept is GROWTH – good, solid growth.  There is no secret what to do, the challenge is how to do it.

What to do to grow:

(1) Create a solid funnel to bring potential customers into your business community.

(2) Engage your audience with interesting and compelling messaging to keep them engaged and in your funnel.

(3) Convert audience into leads into prospects into customers.

How to grow:

Social media is a vast ocean of opportunity.  The secret to growing with social media is

(1) Pick your channel.

(2) Pick your audience.

(3) Develop messaging for your audience.

(4) Build a funnel to convert your audience into users.

(5) Test, iterate, repeat.

 

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Your leads are your future

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Your leads are your next customers and your best referral sources.  Here is a quick five step way to get the most out of every lead.

(1) Design a Good Sales Funnel

A sales funnel is the way a lead becomes a customer.  Its called a funnel because it get narrower.  You need a sales funnel that keeps as leads active and engaged in your business.

Your funnel should:

  • Allow as many leads as possible to fall into your sales funnel.
  • Keep your leads active and engaged with your business.
  • Tell you to know when a lead becomes a hot prospect.
  • Help you close the deal.
  • Build your word of mouth and referral business – filling up your funnel.
  • Give you the information to get better at all the above.

(2) Keep your leads active

A good sales funnel will keep all of these leads active and engaged in your business.  Only about 25% of purchasers will purchase ‘right away’, 75% will require additional nurturing in your funnel. This could equate to up to 3 more sales from the same lead set.  Keeping your leads active in your sales funnel you can triple your lead to sales rates.

(3) Build a social community around your business

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The quote above is from a friend, Dojoan and social media expert Brian Franz. He most certainly gets it.  Smart phones, Facebook and social media has changed the business game. You must use mobile web, Facebook and “content” keep your leads active. Is this worth your investment? We think so because keeping your leads active can triple your revenue from the same leads.

(4) Use social media to keep your leads active.

Keeping your leads active means nurturing your leads. Nurturing leads is all about quality ‘touches’.  This means how you build brand awareness with your leads.  This use to be very expensive and difficult.  Television, radio, newspapers and direct mail use to be the only way to connect with your potential customers and build brand awareness, loyalty etc.

Today there are many inexpensive branding channels like web search, social media and email. Seeing a nice picture of your pool on Facebook, or learning something interesting about your business in a blog post is the modern day television commercial. Use social media engagement and drip marketing to keep your leads active. 

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(5) Create a consistent, evolving content strategy.

Content is another way to say ‘stuff you share’.  It can be pictures, stories videos, status updates or other stuff.  Creating a winning content strategy is figuring out what you are going to tell your leads, when are you are going to say it, and how are you going to say it.  Content strategies are effective if they are designed and implemented well.  A well developed media campaign will keep your leads active and engaged.

A winning content strategy should:

  •  Keep leads entertained and engaged to build brand awareness, trust and loyalty.
  •  Slow-cook leads into prospects by reinforcing the desire to get a pool, addressing the logical questions about getting a pool, and building familiarity and trust.
  • Create triggers so that you can identify when it is time to treat an individual lead like a prospect.
  •  Build referral channels. One of the best thing about qualified pool consumers is that they know other pool people.
  • Creating incentives to share content and information about your business will feed the above objectives and also continue to fill your pipeline with new leads.

Building a stronger sales funnel is never over. I hope this gives you some ideas on next steps.

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My first Last Call with Meerkat

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My son finally fell asleep about 11pm. I was still worked up from the day and needed a walk before retiring.  I didn’t really feel like walking alone so I fired up the old Meerkat with the Headline San Francisco Last Call.

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We walked my Dogpatch neighborhood sizing up the available watering spots for a last call.   We choose The Sea Star because it was about the only one open and it had a pool table.  I turned off my phone before I walked into the bar, so I could size up the scene before going in video guns blazing.  It was pretty empty.  There were three guys playing pool and a few people at the bar and a younger girl by the door.  I got my beer and went towards the guys playing pool.  That did not go much deeper than a quick hello.  A few minutes later I walked back to the front and the jukebox.  For Five dollars I got to pick about 5 songs.  While ordering up some tunes I went live on Meerkat.

At first I was just pointing at the wall and commenting with the keyboard.  It felt too weird talking into my phone with people around.  It was cool though people watching engaged me with chat and we played name that tune.

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As I finished the first beer the three guys in the back wrapped up their game and took off.  So why not play pool?  I grabbed another beer and headed to the table.  @Lylemckeany showed up just in time to see my bank shot and win on a game of 8 balls in 20 shots over/under.

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After the second beer we headed out and we wandered the neighborhood for a few.  We joked about ordering flashlights on the spot from Postmates or instacart because the screen as so dark.  Even Carlo showed up.

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We even did a run down of local times and locations.

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After 2 beers a ton of talking (mostly by me) and a lot of walking.  We wrapped things up.

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Little did I know that I just had last call with 392 people.

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Nor was a really clear that we had walked about 2.5 miles together.

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Its time for a nap.

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The Real Life Erlich Bachman

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http://thehustle.co/the-real-erlich-bachman-of-silicon-valley

Posted by Founders Dojo on Monday, August 3, 2015

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A kinder global bitcoin

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cellphoneuser

Over the last five years the Bitcoin revolution has soared, crashed and now seemingly stabilized.  Today millions of computers mine for Bitcoin.  Most of the computers powerful enough to Bitcoins are owned by the wealthiest people and organizations in the world.    Can we use mining to help solve world poverty?

Mining Ecoins is expensive

All Bitcoins begin their life when they are mined by a computer.  Effective computer mining requires a great deal of computing horsepower and energy.  If you do not have a powerful computer and a cost effective power supply, you will not be able to mine Bitcoins.  Unfortunately, this describes most of the people living in the world.

Most of the world is disenfranchised

Right now there are about 2B computers connected to the Internet.  Probably less than 1% of those computers can mine Bitcoins effectively because of the power and hardware required.  There are over 6B cell phones in the world.  How can those 6B cell phone users participate in Bitcoin mining?  One idea is an Bitcoin like crypto-currency (ecoin) with mining opportunities for even the most basic cellphone.  For example, a Ecoin that allows cellphone users to manually enter number sequences or very advanced captchas into a cellphone to mine for coins.  While there are some technical challenges, it can be done.

Doing well, doing good

The long term value of Ecoins is directly related to the amount of real Ecoin buying and selling transactions.  For now, most of the world is out of the game.  If you believe that the Ecoin revolution is a wealth redistribution, this project is both a market opportunity and an important economic justice project.  This is our generation’s opportunity to do well while we do good; and set the stage for global wealth for the next 100 years or more.

How this could be done

The ecoin would probably need to have some percentage of the coins to be reserved for human mining instead of just machine mining.  It would be best if the human task is actually trying to solve real world problems like Gamer’s did for protein sequencing.

One of the challenges with the current mining ecosystem is that the coin creators would have to determine the human mining task ahead of time once, for the entire life of the coin.  This may not work because over time the human task may become irrelevant or ‘solved’.  It should be possible to crowd source the nomination and voting of the human task that should be rewarded with coins and also change that task over time.

Most coins are created with milestones that adjust the coin award per block over time.  For example, the Bitcoin award per solved block started at 50 coins per block at the first block solved, and will eventual reduce to 6 Bitcoins per block when block 630000 is solved.   The human mining task could use the same type of supply control and in addition to a reduction of the coins per block, the task could change at certain block milestones.  The human task for the upcoming block could be nominated and voted on by the coin community ahead of the block and adjust automatically when the milestone block is reached.

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What is a Bitcoin Wallet

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Bitcoin wallets

Bitcoin wallets are where your store your Bitcoins. When you send Bitcoins, the Bitcoin leaves your wallet and goes to another wallet. A Bitcoin can only be in one wallet at a time. Bitcoin wallets are generally free or come with simple registration. You can have multiple Bitcoin wallets and move all or some of your Bitcoins to various wallets. To send Bitcoins to a wallet, you enter the destination wallet ‘address’ (which is a long series of letters and digits) and the amount of Bitcoin that you want to send.

When you submit the request your Bitcoin transfer is automatically processed and verified by the computers that are mining for Bitcoins. With Bitcoins, the wallet to hold the Bitcoins and way to processing payment with Bitcoins is almost free. You can have both offline Bitcoin wallets and online Bitcoin wallets.

Online Bitcoin wallets are often the easiest way to start.  Probably the best and easiest way to get started with a bitcoin wallet is with Coinbase.

If you want a offline wallet, start by downloading your free offline Bitcoin wallet. This wallet will remain on your computer and will not be available through a website unless you access your computer remotely with a program like Logmein. It is best practice to backup your offline Bitcoin wallet with another offline backup (or two) as well as an encrypted online service like dropbox, carbonite etc.

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Bring Your Own Big Wheel Race

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On April 6, 2015 300+ adrenaline fulled big wheelers ranging in age from 3-60 spent 3 hours flying down Vermont St on Potrero Hill in San Francisco.  I broadcast the event live on Meerkat. About 24 hours later the tweet announcing the live #meerkat broadcast received about 150K impressions.

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