Branding Practices Defined - Lessons from 1185 Design

An excellent brand is more than just a good logo. Use the following terms and definitions when evaluating the brands you find tonight.

Delivery on Promise
A good brand has a well-defined (either implicit or explicit) promise to its customers, and consistently delivers on that promise. For each brand you visit tonight, try and define what their promise is, and how they deliver.

Memorability/Ownability
The brand uses color, typography, logo and other design elements such as layout and dress of retail locations in a consistent manner. Creating distinctive elements and using them consistently not only makes a brand memorable, but keeps other companies from using the same elements.

Superior Offering or Service
The brand’s product or service works more consistently, tastes better, or provides a more satisfying experience than the competition.

Fulfills a Need/Innovates
The brand takes an existing product or service and elevates it to a new level by re-imaging, redesigning, or combining it with a new approach.
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John Wood, Room to Read

Do we dare to dream big?
Core belief: World CHange Starts With Educated Children
To reach Big, Hairy, Audacious Goal: 10 million children by 2010
70% of Nepal is illiterate, suffering from poverty of opportunity.
John rented Zag the yak to carry the library of books from one village to village.
GDP is linked with education.
Purchasing Power Parity (economy) is linked with education.
Infant mortality is linked with female literacy.
110 million children of primary school age are not enrolled in school.
880 million people around the world cannot read or write. 2/3 of these groups are girls and women.

SOLUTIONS:
To work with government to supply teachers
To enlist parents to build the school rooms
To build reading rooms - learn their own language and english
To publish local language books
Long-Term Girls Scholarship - funded by Don Valentine
"Educating girls yields a higher rate of return than any other investment available in the developing world" The World Bank
Room to Read fund raise.

BUSINESS MODEL:
1) Hire strong and entrepreneurial local teams - not to send volunteers or expat
2) Engage the Community - We call them "Challenge Grant" - catalyze creation of schools, give them ownership.
"You can only help ppl who wants to help themselves"
3) Be nimble and act quickly, no excuses - Team opened 39 schools in post-tsunami area in one year even though no present operations there.
4) Invest heavily in human capital - training teachers and librarians
5) Invest heavily in monitoring and evaluation - 84% Laos librarian is confident to train new librarian.
They published books in Hindi, Sinhala, Nepalese - 10,000copies per books. Authors include 10, 15-year-olds.
6) Have an Intense Focus on Results
"What gets measured, gets done"
7) Makes efficient use of donor's money - instituted no Land Rover policy - can't open 25 libraries, can't open 4 new schools in Nepal.

Run a social business:
Low overhead ensures the money goes where it's needed most
87% Program services
Rated 4 Star by Charity Navigator.

8) Create a World-wide movement of "Super Empowered Individuals"

"Go Big or Go Home!" on philantropy. Scale up
"If Starbucks can do it"

Low prices alllow everyone to "Be the change"

What is the most image can you imagine? - potential or kinetic - take action.
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TiECON 2008 Keynote - You like me, You REALLY like me.. Now what?: Challenges After Hypergrowth

Keynote Panel - 4-5pm
Kara Swisher, Wall Street Journal
Jia Shen, CTO & co-Founder, RockYou
Kent Lindstrom, President, Friendster
Derek Liu, CTO & co-Founder, Gaia

Lessons Learnt
Mathematic growth of huge market will allow for huge growth
Self-expression a need for human interaction
Dorm rooms still not producing quality apps. Slide and RockYou still key players.
Youtube app?
Huge applications might not be the key. Niche but high interaction would be more monetizable
Building applications onto platforms instead of building social network platform
Friendster facing "Innovators' Dilemma" that's why mySpace and Facebook got to take over despite Friendster's initial success
Agility to keep success of website over long period of time
CTR rates????

Monetization Models
Long tail model (Google) vs. Site target model (Yahoo) of advertising
Data Profile that each advert publisher "must buy" - e.g. if you want to meet college student you must buy Facebook ad, if you're launching movie must buy MySpace ad. This is actually still similar to buying ad during the relevant TV show
Fake cars, fake houses to impress real people =)
Microsoft Passport Model - Friends Connect, Facebook Connect; Expanding of Social Graph beyond the own website
Mobile - will grow from there
Micropayment systems in Asia
Ads as brand advertizers instead of cost per click model for people who want to drive traffice to their website
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NVC - Arijit Sengupta, Founder of Beyondcore on Pico-Coding

OperatorEvaluator.com cost $300+

Learning Points
Outsource – break up into small pieces so that nobody get the whole picture of what you are looking at
Definition:
Algomist – like Alchemist reversed, so build up the entire architecture
Pico-coding – break up into small pieces and code
“McDonaldize” the processes and in addition, try to let no one step affect the other step
Chunk it up until the context is gone. People don’t know what it actually iss
Be global from day 1

Positives of Pico-coding
Globalization – Global resources on your hand when you need it
Time to market
Lower cost of development
Make most use of the thinkers instead of spending time coding

Problems & Solutions of Pico-coding
What to do when you need upgrade? Throw away and buy a new one!!
Security of Code: How to ensure that its integrity?
1. Look at ratings – will go south with one entry
2. Code inspection – get someone you trust to do it
Can’t use this model when you are doing a pure innovation
Learning reduced
Core algorithm still has to do in-house
Enterprise software might have a problem because it can’t be fixed immediately
Information security requirements
IP – the coder is supposed to use unique code for everyone

Project Management vs. Global Outsourcing
Project Management starts with resource constrain, global outsourcing is planned with no constrain
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Mentorship Session with Sudha Jamthe - Startup to Launch in the Social Media World

Growing an Entrepreneur
Lessons:
1. Try, Fail, and Learn, Grow – Try Fry Cry
   a. Find Your Passion (What are you good at?)
   b. Hang on the edge of your comfort zone
   c. Failure Teaches Fast
2. Social Media use to network, build your identity and try out projects
   a. Facebook - Launch Tool, Events, Fan Pages, Podclass.com
   b. Twitter - Follow people in your field of learning
   c. Blogs - i) Start your own blog ii) RSS Feeds of people in your field iii) Find advisors
   d. Organize Local events - i) Meetup.com, barcamp.org, mobilemondays, wikiwednesdays, startupdinners ii) Volunteer for events to surround by smarter people where you can learn
3. People, People Technology
   a. Find your team
   b. Find your team style
   c. Find your team, Style your team likes
   d. Find your team, Style your team, Likes that breeds success

Info about Sudha
Ignorance to breed success. The first woman to raise venture capital in the New England states. 120 people and met in 40 days to get first million. She didn’t know about it, might have been scared off if she did.

Advices
When you think about what you don’t know, get to know it.
A milestone to live and die by – measurement of success.
Its about the people. An important milestone – find people.
The more you try, the luckier you get
When you know how to do something, get someone else to do it. Go find something else to do
Practice scaling and “doing business for others” as an exercise
Marketing to Students – Facebook Marketing
Hand around and find or create a group to network with people
Find local meetups to evangelize to people, these people have the local knowledge on the market
If you don’t ask busy people exactly what help you need, they can’t help you.
One Lesson: “Find Great People. Not just people who mean well, but GREAT people who can help”
Always be looking at the people, give a chance to people
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Marketing, Decision Making and Learning – the Munger/Buffett Way

Anand
Current: Advising 3 companies in Valley, 1 in India
A love for Ben Franklin: The original ‘renaissance man’. Inventor, Philosopher, Businessman, Diplomat, Politician, Librarian, Scientist, Engineer
Special Meetings: Mohnish Pabrai, MD of Pabrai Funds leading to a new way of thinking driven by values and sound principles, not buzzwords
Ideas are big, but DON’T BE OVERWHELMED. You have a lifetime to learn and apply these principles!!

Munger/Buffett Track Record
Buffett
Berkshire Hathaway: Coca-Cola, Gillette, ABC, Wells Fargo, See’s Candies, Saloman Smith Barney, GEICO, NetJets, Costco, AmEx, Washington Post. WITHOUT scandals, greeds or creative accountings
Early students of Ben Graham,
‘Moat’ Philosophy – Moat for sustainable competitive advantage
‘Cigarette Butt’ Investing and approach to evaluating ideas/business – Just do it and make a bit of $???
Munger
Modern day Ben Frankin
Fair business at a great price vs. great business at a fair price
Buy own, work for and invest in a great business with a fair price than the other way round!!!!
Notion of worldly wisdom to build latticework of mental models and lollapalooza results

Key Themes
- Meet the eminent dead
- Meet the one-legged guy in an ass-kicking contest
- Worldly Wisdom: “man with the hammer” tendency
- Invert, always invert
- Lattice
- Multi-disciplinary approach
- Web of derserved trust
- 6 themes of influence
- Self-serving bias
- Ability to kill your best ideas
- Inventing vs. method of invention
- Bad bridge vs. bad business
- How do you build a 2 trillion $ brand from scratch?

Meet the eminent dead
Instead of explaining concepts in the abstract, it’s a lot more fun to make friends with the eminent dead!!
- Ben Franklin
- Carl Jacobi
- Charles Darwin
- Adam Smith
- Linus Pauling

Worldly Wisdom
The man with the hammer… would want to make everything look like a nail so that he could use the hammer. So go back and add other tools to the hammer so that not all problems look like a nail. If I can’t solve the problem with these skill sets, add more skill sets!
The one-legged guy in an ass-kicking contest. You can never win. Build other tools so that the problem is varied and not with that one tool that you have.
Evolutionary Biologist would come out with hypothesis then change. Darwin proposed it.
Don’t make the decision then justify. Go and observe and come out of comfort zone.
How to acquire Worldly Wisdom??
- Making friends with eminent dead across fields
- 6 themes of influence (tbi)
- Self-serving bias: Appealing to bias, not to rationality
- Causality vs consequence

How do acquire and retain WW?
Always invert. Ask the opposite question. “If I know where I’m gonna die, I will never go there.” If you know one thing you’re not going to do, that eliminates a lot of possibilities.
Pavlovian Models (See ‘Building a $1 trillion brand’)
Borrow from one subject to improve another like Linus Pauling
Look at reading list from SFI http://www.santafe.edu/

Multi-Disciplinary Approach
Arrive at a checklist of tools that you have. Ways to think of a problem. What not to do. Etc.
Tools to evaluate marketing and business problems
Avoid man with hammer tendency
Costco: Optimize on a single variable (to the extreme) à What is really interest is that they are doing everything Walmart is doing, but they can negotiate with all suppliers, hence get HUGE discounts, and provide for a fee (membership). Paying for value
Gillette: commitment and consistency
Nebraska Furniture Mart: Customer service, low prices
Knowing when to apply the “extraordinary routine” like when you need to fly a plane

Case Study: The 6 themes of INFLUENCE
From “Psychology of human misjudgement”, Charlie Munger speech at Harvard Law School, 1995
Look for reinforcing effects in marketing situations (for Lollapalooza results)
RECIPROCITY
- LinkedIn recommendations: Help people to help yourself
- Chain Letters: cascading effect of reciprocity to reach a million people
COMMITMENT AND CONSISTENCY
- Only one sperm can get in then it shuts off. One idea is in, your head shuts off.
- Physics: people resist change when they like the old idea and they won’t look like an idiot
- Phil Zimbardo: Stanford prison experiment
o People who play prison guard played the role as humans will commit and be consistent
o The power of thought, commitment and being consistent with it
SOCIAL ACCEPTANCE
- Tupperware Parties. If everyone has it, I have to have it too. And when your friend is at your place, you’re more likely to make the purchase
LIKING, AUTHORITY AND SCARCITY
- Work for somebody because you like him
- Nobody cares who created it. I like the iPod I’ll buy it
- #1 brand always has the highest market share
- Brand loyalty
- Scarcity by Steve Jobs. Show it once, and everyone wants it. Then make people give Apple discounts to sell it.
Real Estate and Car Dealers: Scarcity and Authority to sell you something
Coke & New Coke: Commitment and Consistency. Something you are familiar with.
Darwin vs. the rest: That’s why people don’t like his theory
“Limited Edition” items: Scarcity

Case Study: Incentive caused bias
Apple employees can’t be convinced that Apple sucks
TRUE MEANING OF AGENCY COSTS – never try to work against what people are paid to believe
Fedex shift/hour compensation example: Each employee was paid by shift. So instead of that, they would be paid by the hour and track performance each hour. Incentive caused bias
Commission driven with CRM updating system to drive Salespeople to work

A return to values…
Are you comfortable with this appearing in the front pay of the NY Times tomorrow morning? Use this as a guide to make decisions.
WWJD?
If you build a bad bridge it will collapse. There is no consequence of building bad business. Everyone has to put in their part.
Web of deserved trust: best way to succeed is to deserve what you get
The ability to kill your best ideas – do it before others can do it so that anything that you allow to get out of your lab is going to cater to the highest standard
Makes financial sense to gain others trust

Can you build a $2 trillion brand from first principles?
“Practical thought about practical thought” – Charlie Munger

Lessons:
1. Trademark your name, protect it strongly to build scarcity
2. Have a product with UNIVERSAL appeal
3. Leverage on classical conditioning and operant conditioning (conditioned reflexes)
4. Liking, Scarcity, Social proof
5. Always invert and turn it around – what should we NOT do?
6. Exclusive product that people can’t get ANYWHERE
7. Don’t get bad effect of successes (like Microsoft, etc.) Use principles to build company up
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ETL - Sue Decker

Sue Decker, President, Yahoo Inc.

Yahoo Strategies
Integrated Search and Display strategies
Yahoo as a Open Platform?
Acquisition of Right Media and Blue Lithium
Display (Page View advertising)
SearchMonkey… mmm…
Yahoo! Buzz: Ecosystem of Users, Publishers, and Advertisers à Digg style voting
Yahoo Monetizing that?? Finally making profits??

Of everything that could be asked, first question is about customer care… and interface of the yahoo email… haha =)

Discussions and Stories about Yahoo the past 2 weeks
Weren’t planning to sell
Board felt that Yahoo! Is in the midst of transformation since December due to development costs, so Microsoft came at the exact right time
Sue was at Berkshire Hathaway on Board meeting, shook Bill Gates’s hand

Pace of Acquisition of Yahoo!
Yahoo! Will continue to acquire things that can integrate into their systems
Not integrating Overture faster causing Google to move faster in Search

Open Social
Yahoo! Will support open social, with a broader approach, with $$ for developers to develop on Yahoo! Instead of on Google

Macroeconomic Environment on Yahoo!’s movements
Ad is 500billion size
Ad is cyclical with economy, especially in traditional
Online ads can figure cost of customer acquisition, so less reduced compared to traditional ads

Alienating User Groups with Voting
Homepage is not automatic, so Buzz doesn’t change the main site immediately. The main editors will make sure quality is there.
Dynamic content serving

Google outsourcing question
Panama and Google only about 20% difference in earnings
Is it worth it to use Google to close it, and use Google, or continue to build

Video Ad Monetization
Video Ads on static content page

Yahoo’s acquisition of Zimbra à EmailInsights from content will provide relevance and allow others to want the experience
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ETL – Peter Diamandis peter@xprize.org

What were you excited about as a kid?
That’s what you’re passionate about, VCs will fund you, etc. Life’s do short to do something for somebody else

Government can’t take risk for space frontier as there’re too many issues involved that would cause them to lose out politically
Have to go with the private industry

Long Term Mission – Asteroid Miner, lots of $$ in there

How X Prize Foundation is financed

Spirit of St Louis – Flight across the Atlantic for a prize

If he can do it, everyone can do it – the flying fool, Lindberg

Hence X Prize is the prize to simulate the prize for Lindbergh

Line of Super Credibility - Things you do that no matter what you do it will succeed. Line of credibility only brings you to being acknowledged

Insurance Company took the bet with X Prize that for each trench of advancement, the company will pay out

Founded Zero G airplanes to have fun

Space Adventures – Rocket Racing League

True breakthroughs require taking risk. The day before something takes off, it is a crazy idea. Got to be willing to take these risks.

How can we incentivize really crazy stuff? Originally was by government.

Average age of Apollo program engineers was 26 as nobody was there to tell them what they could or could not do. Same as dot com revolution.

Go do the crazy idea. Have to take risk.

X Prize is to change behavior

http://www.xprize.org/, http://www.gozerog.com/, http://www.rocketracingleague.com/

Leverage on people’s capabilities for sponsorship instead of $$ all the time
When you ask for great advice you get great money
It’s a people process, not a $ process

Make other people heroes

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