I recently wrote a guest post for Huffington Post which i’d like to share with you : link
Work as we know it traditionally is changing. And the big driving forces behind it are three in my opinion: 1) big data, 2) pervasive computing and 3) people’s innate desires to be liberated and in control of their own destiny
The last of course is not new, but technology and in particular the first two I mentioned are the catalysts of change that make it happen. But its important to note that technology doesn’t change our human nature; it just empowers it.
Pervasive computing is a concept that’s been around since the 90’s but its only really now with the consumerisation of smart-phones, and the massive data pool accessible in the cloud that it becomes realitycontinue reading »
In SWSX last weekend I watched a very passionate talk by Al Gore where he spoke mostly about (guess what?) global warming, nicely mixed in with a bit about his book on (guess what?) global warming, and a bit more about his book and global warming !
His main thesis is that we should put a tax on carbon to ‘internalise the externality’, in economic jargon terms. An externality is where a free market fails to allocate resources according to their true cost or benefit. In other words there are ‘external’ costs or benefits that the system doesn’t cater for so we have market failure. Adam Smith’s invisible hand is hacked.
Of course this theory is not new. The big question is measuring that externality and implementing the right fixes in tax policy which in practice is no small feat. And doing it without hampering long term growth.
But speaking of externalities – and at SWSX no less ironically – no mention was made by Mr. Gore of the external benefits today’s startups bring to the economy. That if anything is the mother of all externalities and so much more relevant to the audience. Startups today add a hell of a lot more value to the ecosystem than the collective value to their individual stakeholders (employees, customers and shareholders). There is a knock-on effect and a symbiosis, which created a startup community we could have never dreamt of even 5 years agocontinue reading »
Businesses exist to solve problems. This weekend I was at SWSXi where I had luck to meet and watch some of the top entrepreneurs in the world talk about the problems they solved, those that they didn’t get round to solving and are fixated on next. And all the while I kept thinking: how does this apply to our business at PeoplePerHour? And more importantly how does that form a coherent step by step strategy to win? And how are we executing towards it?
Below I summarize my thoughts drawing on some of the insight I gathered at SWSXi and applying our experience at PPH to date.
I believe this applies to any marketplace business. The problems we exist to solve are these 3 and in this sequence.
1. Distribution
Marketplaces exist first and foremost to aggregate and distribute content that’s ready for collaborative consumption (whether that’s a display of your spare room on Airbnb, your grandmas hand knitted sweater on Etsy, your unused car on Zipcar, your spare cash on Zopa or your skills and spare time on PeoplePerHour)continue reading »
Today was one of my most emotional days. Even though it’s been in the brewing for some time and been decided months ago, my co-founder and dear friend Simos announced to the team at PPH today that he will be leaving the day-to-day of the company as at end of March to start his own startup.
I have to say, even though I’m very happy for him and I believe it’s the best thing for him and the company I couldn’t help being moved. I’ve been through thick and thin with Simos, for over 6 years, and whilst most people who know me will say I’m a fairly tough nut, it was one of the few times when my eyes swelled up. Part with happiness and part with sorry.
So why is Simos leaving?continue reading »
Building a startup is like building a family. You bond with people in ways drastically different to a normal job. One of the thing that saddens me the most is when some of those early members of the family depart. It needs to happen, its part of the growing up process, people ‘graduate’ just like in school, but its one of the toughest things for a founder to watch. continue reading »
The best businesses scale faster than their people. Learning to be a better CEO is crucial for entrepreneurs who don’t set off to me managers, they just fall into it by virtue of their creation. Below are my Top 20 learnings
1. Be fair
Fairness comes first. You can be tough and even brutal at times but be fair in your judgment, give credit when credit is due. No one wants to work for someone who is unfair. Even when you are let down, hold people accountable to it, but when push comes to shove swallow your pride. Be the bigger Man, after all you are CEO.
2. Show empathy
Show empathy not sympathy. Sympathy is letting emotions rule you. Its feeling sorry for people. Empathy is getting under other people’s skin to understand them. As a CEO its your job to get under the skin of your customers, your staff, your stakeholders and figure out what makes them tick. Keep it human. Don’t let your success go to your head. Emotional intelligence is as important (if not more) than analytical intelligence in running a business.
3. Be the benevolent dictator
True democracy does not work in business (if anywhere). Drop the ‘decisions by committee’, the never ending conversations. It will slow you down, create bureaucracy, indecisiveness, and will eventually kill you. Listen to everyone’s opinion, create healthy debate but then take a firm and binding decision. Show decisiveness and conviction. Align everyone to your decision and march forward relentlessly. It matters less to be right all the time. You never will. You will be wrong some times. Its OK- learn to fail fast and realign. The benevolent dictator is the one who is decisive, takes action with best intent at heart.continue reading »