My Jobs Plan

Since both political parties are touting their own plan to get America back to work I thought I would present my own Jobs Plan.  As I listened to both candidates speak at their respective conventions on how they were going to encourage companies to hire more people, I realized that their plans were one sided.  They hope their policies encourage companies to spend their cash reserves on new employees that add value.  What about the potential employees?  Are they simply sitting and waiting for the government to encourage these companies?  Are they sitting waiting for those jobs to be posted on company websites?

Here's the traditional way of thinking about job growth:

1. Employer posts job on their website or Monster
2. Potential Employee submits resume
3. Automated service sorts through resumes and ultimately randomly chooses who to interview
4. The lucky ones get an interview
5. A very lucky person gets the job (or more likely the person who had a friend who knew the hiring manager)

My Jobs Plan which I am calling "The Hustle Plan" requires the unemployed to approach companies with ways they can add value.  Notice the difference.  This is a push strategy vs. a pull strategy.  Potential employees are out in the marketplace hustling and pitching employers on how good they are.  Most of jobs in my career have come from this method.

Here's The Hustle Plan in practice:

1. Job seeker ("hustler") goes to lots of events to meet lots of people 
2. Hustler researches companies they want to work with
3. Hustler designs website or video outlining how exactly they can help that company
4. Hustler searches wide network on LinkedIn (see step 1) to find a friend of a friend who works at company
5. Hustler asks friend of friend to send info to decision maker
6. Company is curious and asks Hustler to come present to company
7. Company likes presentation and wants Hustler to "hustle" for them

And that my friends is how our future generation will survive in the marketplace.  A future blog post will spell out exactly how we can enhance our education system to embrace our current economy.

"It came to me while sitting in an Airport Terminal..."

(Note: Jeb will be participating in Startup Madness on March 14, 2012)

As freshmen roommates attending Boston College, Tom Coburn and Jeb Thomas knew they wanted to start a business. They had a few ideas, none of which panned out. That summer, they started a business in SEO marketing, which introduced them to the world of online advertising. Witnessing firsthand the pitfalls of CPC advertising, they knew there had to be a better alternative that was more engaging for the user and more cost-effective for the company.

A few months into their sophomore year, Tom traveled cross-country to participate in his Club Golf team's national tournament. While watching an ad in an airport terminal, he came up with the concept that would become the heart of Jebbit - Cost-Per-Correct-Answer (CPCA, for short). Back at BC, he, Jeb, and Chase created a new form of advertising - one that was both fun and rewarding for the user and cost-effective for companies. It launches March 12, and you can check it out here.

18 ACC teams participating in Startup Madness

As a volunteer in rural Peru, Joseph Linzon saw a problem. Residents needed electricity for cell phones, laptops and iPods, but they didn’t have a ready source of power. As he traveled through remote villages on foot, the idea came to him. “As you walk you produce energy – kinetic energy, and I was thinking, “How can I convert this kinetic energy, that’s created with the swinging of a foot and charge a battery?” He’s now awaiting a patent and plans to use his prize to develop a prototype and pay legal fees. He calls his invention the Power Sole – with the slogan, “empowering the powerless, one step at a time.”

Joseph, a student at University of Virginia, is just one of 18 student entrepreneur teams from Boston College, Clemson, Duke, Florida State, Miami, NC State, UNC-Chapel Hill, Virginia, Virginia Tech, and Wake Forest participating in Startup Madness on March 14 in American Tobacco.

Angry Birds is like the Power of the Lord?

Last Sunday morning I caught my 5 year old son playing Angry Birds on my phone. We typically don't play games on Sunday. When I recounted this rule, Andrew responded, "But Dad, Angry Birds is like the power of the Lord!" I smiled and said, "Really? Tell me more." He continued, "It's like the birds are the power of the Lord and the pigs and structures are Satan's kingdom. When the birds hit them it's like destroying Satan's kingdom."

He got to play the game a little longer for that thought process.

Mark Cuban and the Missed Opportunity

As I was listening to Mark Cuban in August 2010, I looked around Bay 7 and saw mostly middle aged business leaders. I did see one younger kid and thought, "Those are the type of people that should be at this event!" It was a missed opportunity.

Startup Madness will be a similar opportunity where the younger generation will be able to engage young entrepreneurs from many of the top universities on the East Coast. I know high schoolers may have school, but I am happy to write a note to any principal! If young people want to understand the world they are about to enter, there is no better event to attend.

Wonder if Mark would come back on March 14 and crown the Startup Madness winner among the ACC schools?

Channeled Madness: Austin Rivers vs. Newt Gingrich

Last night's Duke vs. Carolina game was epic. Duke vs. Carolina fulfilled every bit of hype. Austin Rivers was walking on water and virtually unstoppable. Why? After the game he said he was "pissed off" because Carolina said they were going to win.

Austin had what I call "channeled madness." He used his aggression in a positive way and had extreme focus on the court.

Let's contrast that with another prominent figure: Newt Gingrich. His madness is getting the best of him and it shows. He is so upset that it is controlling his actions. This is usually the beginning of one's downfall.

If I was building a startup team in the business world, I would love to have employees with the "channeled madness" of Austin Rivers totally focused on taking out the competition. This year's Startup Madness participants will come to Durham with a similar spirit.

Early Stage Capital: A Necessary Ingredient?

Several weeks ago a group of city officials from Clarksville, TN visited our fair city of Durham to see what we were up to. They didn't expect to find a blossoming entrepreneurial ecosystem and wanted to know more.

Chris Heivly (Triangle Startup Factory), Bob Walker (8 Rivers Capital), and I were asked to spout off our thoughts on how things get done. As I sat there I wondered, "How many venture capital firms are in Clarksville, TN?" We all know the answer to that one. But does that mean all is lost for Clarksville and every other mid size city in America? Absolutely not. There is no relationship between early stage investors and an area's ability to innovate and make things happen.

Does capital help? Of course. But bootstrappers can stir the pot in any given city. May each of us go forth and do so.