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It's old news now, but it has me thinking... how realistic is it for the average small business owner to aspire to such great heights?
You would have to have been sleeping under a rock to not know that Facebook has just finalised an acquisition of the 12-man band, Instagram, for a cool price of $1 billion, give or take a few dollars, in shares and cash.
Firstly, congratulations Instagram! 12 people, 1 billion dollars, 18 months of sleepless nights. I am in! I am up for it! How can I join your club? I am prepared to wash dishes, empty your bins and learn to cook the most delicious lunches you can ever imagine for a decent share of the proceeds. Photosharing never looked so appealing.
Billion dollar deals are few and far between. They tend to go with over hyped market analysis and valuations of the hottest trend of the moment. Remember the dot com boom? Did anyone really survive? Did the big deals ever really get a decent ROI for investors? Maybe for those smart enough to get in and out of the deal very fast, but what about the mere morals. The Mum's and Dad's who put their superannuation into investments that newspapers told them where 'hot'? What about these people? Do you really think that they are laughing all the way to the bank or are they in fact just making these young millionaires richer by the second and the more they publicise the fact, the more the Mum's and Dad's who often don't have a clue about such things, invest more and more cash that they don't have or were saving for retirement.
Do I think Instagram is worth $1 billion? Hell No! Seriously, that is more than $33 per email address. Are they serious that this is going to get them a decent ROI? Are we all falling prey to the hype and ridiculousness of the social media era?
Sure, social media will be here forever - or at least until something else replaces it, but are these valuations giving false hope to small business owners hoping to crack the jackpot?
I have not used Instagram and probably never will. Being a narcissist and promoting the fact isn't really my cup of tea. I don't need to showcase what I ate for breakfast, that I met a celebrity for 2 seconds in the street and begged them for a photo, or that I am supposedly having a great time even if it was me who had to set up the tripod to take my own photo just so others thought that my life was fantastic and something that everyone around me should be jealous of.
And... where are the boundaries. Yes, my nieces and nephews know what Instagram is and have been sharing photos for ages. Some have children as little as 3 or 4 years of age, parading in their cute little bikini's. Well, I think this is ridiculous. Great spot for Pedophiles to hang out and get their jolly's.
There is not enough policing of social media and everything has a place. These valuations on companies that have made no profit are not realistic and does have little or no reflection on what companies are really worth. What it says is that an eccentric billionaire, had a good idea that Instagram would be a great add-on (which it probably is) and wanted to showcase his power by buying it at whatever cost. Not bad really, since it isn't really his money to buy it with. It's Mum's and Dad's at home who have given their money to super funds and fund managers, that love nothing more than to do a deal. After all, isn't that how they make their fees.
You would have to have been sleeping under a rock to not know that Facebook has just finalised an acquisition of the 12-man band, Instagram, for a cool price of $1 billion, give or take a few dollars, in shares and cash.
Firstly, congratulations Instagram! 12 people, 1 billion dollars, 18 months of sleepless nights. I am in! I am up for it! How can I join your club? I am prepared to wash dishes, empty your bins and learn to cook the most delicious lunches you can ever imagine for a decent share of the proceeds. Photosharing never looked so appealing.
Billion dollar deals are few and far between. They tend to go with over hyped market analysis and valuations of the hottest trend of the moment. Remember the dot com boom? Did anyone really survive? Did the big deals ever really get a decent ROI for investors? Maybe for those smart enough to get in and out of the deal very fast, but what about the mere morals. The Mum's and Dad's who put their superannuation into investments that newspapers told them where 'hot'? What about these people? Do you really think that they are laughing all the way to the bank or are they in fact just making these young millionaires richer by the second and the more they publicise the fact, the more the Mum's and Dad's who often don't have a clue about such things, invest more and more cash that they don't have or were saving for retirement.
Do I think Instagram is worth $1 billion? Hell No! Seriously, that is more than $33 per email address. Are they serious that this is going to get them a decent ROI? Are we all falling prey to the hype and ridiculousness of the social media era?
Sure, social media will be here forever - or at least until something else replaces it, but are these valuations giving false hope to small business owners hoping to crack the jackpot?
I have not used Instagram and probably never will. Being a narcissist and promoting the fact isn't really my cup of tea. I don't need to showcase what I ate for breakfast, that I met a celebrity for 2 seconds in the street and begged them for a photo, or that I am supposedly having a great time even if it was me who had to set up the tripod to take my own photo just so others thought that my life was fantastic and something that everyone around me should be jealous of.
And... where are the boundaries. Yes, my nieces and nephews know what Instagram is and have been sharing photos for ages. Some have children as little as 3 or 4 years of age, parading in their cute little bikini's. Well, I think this is ridiculous. Great spot for Pedophiles to hang out and get their jolly's.
There is not enough policing of social media and everything has a place. These valuations on companies that have made no profit are not realistic and does have little or no reflection on what companies are really worth. What it says is that an eccentric billionaire, had a good idea that Instagram would be a great add-on (which it probably is) and wanted to showcase his power by buying it at whatever cost. Not bad really, since it isn't really his money to buy it with. It's Mum's and Dad's at home who have given their money to super funds and fund managers, that love nothing more than to do a deal. After all, isn't that how they make their fees.
Published in
Mellissah Smith
"You can have brilliant ideas, but if you can't get them across, your ideas won't get you anywhere". Lee Iacocca
Many entrepreneurs are 'ideas people' or 'thinkers'. They sit down for breakfast and think about what they can do to change the world, improve their companies and inspire their people. Great ideas are good, but are nothing without being 'seen through'. There are many great entrepreneurs in history who had somewhat peculiar habits, but when it comes to strategy and the workings of how they made wealth and kept it, they each had something in common.
If you look at the life of John D. Rockefeller, Sr., you would note that while he gave away his money as wisely as he accumulated it, he was incredibly focused. He retired at 35 after accumulating more wealth than anyone in history. He detested ostentation and raised his children as if he were not a wealthy man. He had an obsession with costs and is known for his saying "It's the figures that count". To that point, he recorded in a notebook every cent he ever made. This recording of his monetary status was something that many buddying entrepreneurs would note about Rockefeller, and it certainly gives backbone to what many entrepreneurs may think about doing when it comes to not only accounting for their financial growth but also, documenting their ideas and how they see it through.
Rockefeller once said to a friend while driving on a country road observing a happy boy whilstling and convorting on a beautiful day, "That young man will never be a success in life." When asked why, he replied, "Because he is not thinking of driving his horse, and that his is business."
Rockefeller was a practical man with an abundance of common sense, an activist and a doer, rather than a thinker.
Too many entrepreneurs are thinkers. Not doers. Are you one of them?
Many entrepreneurs are 'ideas people' or 'thinkers'. They sit down for breakfast and think about what they can do to change the world, improve their companies and inspire their people. Great ideas are good, but are nothing without being 'seen through'. There are many great entrepreneurs in history who had somewhat peculiar habits, but when it comes to strategy and the workings of how they made wealth and kept it, they each had something in common.
If you look at the life of John D. Rockefeller, Sr., you would note that while he gave away his money as wisely as he accumulated it, he was incredibly focused. He retired at 35 after accumulating more wealth than anyone in history. He detested ostentation and raised his children as if he were not a wealthy man. He had an obsession with costs and is known for his saying "It's the figures that count". To that point, he recorded in a notebook every cent he ever made. This recording of his monetary status was something that many buddying entrepreneurs would note about Rockefeller, and it certainly gives backbone to what many entrepreneurs may think about doing when it comes to not only accounting for their financial growth but also, documenting their ideas and how they see it through.
Rockefeller once said to a friend while driving on a country road observing a happy boy whilstling and convorting on a beautiful day, "That young man will never be a success in life." When asked why, he replied, "Because he is not thinking of driving his horse, and that his is business."
Rockefeller was a practical man with an abundance of common sense, an activist and a doer, rather than a thinker.
Too many entrepreneurs are thinkers. Not doers. Are you one of them?
Published in
Small Business Marketing
What goes up... must come down - ever wondered what happens next?
Apr 16, 2012 Written by Mellissah Smith
"Be careful that the feet you stand on today, don't belong to the legs and arse you have to kiss tomorrow" : Quote from one very wise West Australian.
When I started out working, my friends were all in the same boat. They were starting out their careers too in journalism, advertising, television and marketing. Today, most of them are Directors of News, Television Presenters, Editors and Senior Managers. We all still keep in touch from time to time and support each other whenever and wherever possible.
When I started out working, my friends were all in the same boat. They were starting out their careers too in journalism, advertising, television and marketing. Today, most of them are Directors of News, Television Presenters, Editors and Senior Managers. We all still keep in touch from time to time and support each other whenever and wherever possible.
Published in
Small Business Marketing
Entrepreneurs need to get their hands dirty every now and then
Apr 11, 2012 Written by Mellissah Smith
How often as an entrepreneur do you really get down and get your hands dirty?
There are some things, that no-one else but the entrepreneur in a small business can do. It almost makes them indispensible although we are all trained to think that no-one is this.
There are some things, that no-one else but the entrepreneur in a small business can do. It almost makes them indispensible although we are all trained to think that no-one is this.
Published in
Small Business Marketing
You learn new things every day... but you need to be open to it
Apr 10, 2012 Written by Mellissah Smith
Easter is but a faded memory (too much chocolate, an abundance of hot cross buns and vino to wash it down) and most of us are already back in the grind of every day life (that means "work" for those of us who are not still in holiday la la land).
I have arrived safely at my desk at 11.30am after an early morning interstate flight and am a bit weary even though I have just spent 5 days away, in the most picturesque setting possible with loads of sunshine, great wines and good food. The company wasn't too bad either ;-)
Queensland is such a stunning place. Like most people who travel up there, I always dream of living there permanently because in a week, you don't get bored, the flies don't bother you too much, and you cannot get enough of the sun and surf. It is pure paradise. Beautiful one day, perfect the next as the slogan goes.
Never one to 100% tune out on business, I learned a few things during my Easter break that I would like to share with you:
I have arrived safely at my desk at 11.30am after an early morning interstate flight and am a bit weary even though I have just spent 5 days away, in the most picturesque setting possible with loads of sunshine, great wines and good food. The company wasn't too bad either ;-)
Queensland is such a stunning place. Like most people who travel up there, I always dream of living there permanently because in a week, you don't get bored, the flies don't bother you too much, and you cannot get enough of the sun and surf. It is pure paradise. Beautiful one day, perfect the next as the slogan goes.
Never one to 100% tune out on business, I learned a few things during my Easter break that I would like to share with you:
Published in
Mellissah Smith
Sun, surf, flying a plane and riding motorbikes - not a bad combo this Easter!
Apr 03, 2012 Written by Mellissah Smith
I am so excited! Tomorrow morning I fly to Queensland and after a couple of quick meetings, I will be off to the Sunshine Coast to enjoy the Easter break with my beautiful family.
Published in
Mellissah Smith
Opportunities don't come past your desk everyday. Sometimes you have to work so hard to find an opportunity that when one lands on your lap, you don't really know what to do with it or you forget what it actually looks like.
There are so many things we all can relate "Make hay while the sun shines" to. Here are some that I think you should consider;
There are so many things we all can relate "Make hay while the sun shines" to. Here are some that I think you should consider;
Published in
Small Business Marketing
Have we all got it so wrong?
A few weeks ago, I had to cancel a trip to the US that was for both business and pleasure. Mainly business, but a few days pleasure that I was seriously looking forward to. There were real reasons, which I cannot disclose here, but nevertheless, business was somewhat involved.
Then my beautiful girlfriend married the man of her dreams in South Africa, and I had to cancel going there too. More than $1000 down the drain, because South African Airlines don't reimburse you for cancelled flights nor do they give you a credit. Yet again, work got in the way.
Then this weekend, it's Easter and my two nephews are looking forward to spending the special occasion with their Aunt Mellissah. I have work to do and I was about to book a flight to fly to Queensland on Friday and back Sunday until...
A few weeks ago, I had to cancel a trip to the US that was for both business and pleasure. Mainly business, but a few days pleasure that I was seriously looking forward to. There were real reasons, which I cannot disclose here, but nevertheless, business was somewhat involved.
Then my beautiful girlfriend married the man of her dreams in South Africa, and I had to cancel going there too. More than $1000 down the drain, because South African Airlines don't reimburse you for cancelled flights nor do they give you a credit. Yet again, work got in the way.
Then this weekend, it's Easter and my two nephews are looking forward to spending the special occasion with their Aunt Mellissah. I have work to do and I was about to book a flight to fly to Queensland on Friday and back Sunday until...
Published in
Small Business Marketing
It's a question that many entrepreneurs need to ask themselves but many don't. Why do we believe that an office means sitting in a room, on a chair, with a desk and computer screen in front of us, confined by 4 walls? If you are a one-man band, you tend to show more flexibility, but once entrepreneurs start employing people, down go the curtains, the door is shut and everyone is tied to their desks until they have completed a good days work.
Published in
Small Business Marketing
"Everybody has their shit," said Doreen, a wonderful, successful woman I met for the first time tonight.
As a table of 5 women sharing their stories and updating everyone on their lives, one thing became apparent. Everybody has their shit.
Not the most enticing word in the English Dictionary, I agree, but nevertheless, its meaning in this context makes it appropriate.
I enjoyed the company of 5 fabulous women tonight. Smart, beautiful, successful, emotionally intelligent and value adding, women that can converse on every topic imaginable.
They depict the women that I had in mind when I wrote "what men can do to make their women more successful."
As a table of 5 women sharing their stories and updating everyone on their lives, one thing became apparent. Everybody has their shit.
Not the most enticing word in the English Dictionary, I agree, but nevertheless, its meaning in this context makes it appropriate.
I enjoyed the company of 5 fabulous women tonight. Smart, beautiful, successful, emotionally intelligent and value adding, women that can converse on every topic imaginable.
They depict the women that I had in mind when I wrote "what men can do to make their women more successful."
Published in
Small Business Marketing
After not seeing each other for quite some time, I was glad a catch up with one of my girlfriend, Fatimah was in order last week. She was happy to find out that I was interning at Marketing Eye for the past month and I told her how exciting it is to finally have something to wake up to each week!
After telling me the updates on her life, I began telling her how real the marketing world is and how different it is from university life. The environment at Marketing Eye was pretty laid back, yet focused. It is a small team in the Melbourne office; therefore everyone is usually engrossed in their work. I told Fatimah how the company has a blog written by the CEO of the company and how she perfectly relates business to life in general and she should check the blog out herself!
The following week she did so at her workplace and not only was she reading a few, but a whole lot of them even dating back to 2010! She found it highly amusing and could not stop reading the blog. Fatimah then texted me straight away saying “The blog is so interesting because Mellissah tells facts yet relates it back to her own personal experience and draws out a conclusion from it. Because she is a career woman, I could somehow relate myself to her (e.g: lunching out with an inspiring girlfriend or thoughts about men).
Fatimah is an engineer and works in a male dominated office and after informing some of her friends and colleagues about the blog, they have also started reading the posts and enjoying it themselves. Its remarkable how the power of word-of-mouth happens and reaches great lengths no matter what their professions are as everyone could somehow relate a blog post to their own lives!
Published in
Small Business Marketing
No matter who you are, at times, as a small business owner, you will get stressed.
It's how you deal with it that counts.
Which has me thinking. I am what I affectionately call a "stress pet". Someone, who stresses a lot. If not daily, bi-daily. I find things to stress about that sometimes deserve my attention, and then others that certainly don't.
Managing stress has always been an issue and I have over time tried everything. But just like any diet, or new health regime, you need to keep with it long after the actual decision to do it in the first place and constantly remind yourself that it is something that requires ongoing work, not just a quick fix.
It's how you deal with it that counts.
Which has me thinking. I am what I affectionately call a "stress pet". Someone, who stresses a lot. If not daily, bi-daily. I find things to stress about that sometimes deserve my attention, and then others that certainly don't.
Managing stress has always been an issue and I have over time tried everything. But just like any diet, or new health regime, you need to keep with it long after the actual decision to do it in the first place and constantly remind yourself that it is something that requires ongoing work, not just a quick fix.
Published in
Management
What you can learn as a small business owner from friendships
Mar 27, 2012 Written by Mellissah Smith
They say that it is lonely at the top, and although I am definately not at the top, I can relate to this feeling.
Having run a small business myself for 13 years, I can identify that at the end of the day, unless you have a business partner, it can be quite lonely.
On top of running a business, we have an issue with a client who is happy with the service, but owes us $80,000 just for invoices raised in the month of February. After, continually asking about when the invoices will be paid, they keep saying that it is coming. I am sure they will pay, but the situation is stressful nevertheless because after years of dealing with business owners, without really knowing them, the trust factor on such things gets deminished.
Having run a small business myself for 13 years, I can identify that at the end of the day, unless you have a business partner, it can be quite lonely.
Yesterday, was particularly stressful.
The business is going so well, and clients are literally running through our doors. Although we have mechanism in place for growth, there are always things to do, that when you add it to your own daily jobs, becomes overwhelming - if you let it.On top of running a business, we have an issue with a client who is happy with the service, but owes us $80,000 just for invoices raised in the month of February. After, continually asking about when the invoices will be paid, they keep saying that it is coming. I am sure they will pay, but the situation is stressful nevertheless because after years of dealing with business owners, without really knowing them, the trust factor on such things gets deminished.
Published in
Small Business Marketing
Blogging isn't for everyone. In fact, few people can pull it off and actually get a reasonable return on investment. While it can be fun to share your ideas, there is a whole world out there whose ideas differ from that of your own. And beware... sometimes they are even happy to tell you about it.
But it isn't all doom and gloom.
Blogging can be quite lucrative from a brand profile prospect and for some, financially. Successful bloggers don't just make their livings out of blogging, they quite often make their fortune. Think Mia Freedman (www.mamamia.com.au) and Seth Godin.
Published in
Small Business Marketing
Your brand started off as a figment of your imagination. Then you put it out there for the whole world to see - except the whole world didn't see it like you thought it would.
So, you gave it a bit of a push. Here and there. Everywhere. Networking. Business cards. Advertising. Facebook. You name it - you've tried it.
And then what?
So, you gave it a bit of a push. Here and there. Everywhere. Networking. Business cards. Advertising. Facebook. You name it - you've tried it.
And then what?
Published in
Small Business Marketing
