This will be the last of my
Mesh Conference round up posts. Day 2 was so jam-packed that it could not be summarized in a single, digestible post, so this post begins where the last one ended: lunch.
The first session I attended after lunch was titled
Does Web 2.0 Need VCs. The two panelists were Jason Fried of
37Signals--my main reason for attending--and VC and blogger
Rick Segal, who henceforth also qualifies as reason enough to attend a panel discussion. These are the highlights I am able to squeeze out of my notes. This time around, I'll break it down by topic and speaker.
On taking VC money:JF: If you don't need VC money, don't take it.
RS: Agreed up to a point. Institutional money changes things and you need to consider that, but the ability of 37Signals to be self-sufficient on so many levels is a bit of an anomaly.
One making moneyJF: Everything they do is profitable now, not tomorrow.
JF: Their approach to pricing and sales emulates drug dealers: give users a taste of the good stuff and then make them pay once they're hooked.
RS: How do you monetize something? Simple: charge for it.
On the (un)importance of geographyRS: You don't need to go to the valley to start a company. In fact, it's harder in the valley. It's more expensive. And there's fierce competition for talent.
JF: Agreed. Chicago worked for them for this reason. And remote employees can work well too..
On hiring:JF: If you're hiring a programmer, troll the open source world for someone who is doing good work that's motivated by passion instead of gain. The actual code, comments and enthusiasm are more important than any resume. Forget resumes. Forget formal qualifications. Some of their best employees dropped out of college.
RS: Get 'em young and hungry. Tap smart junior people and give them a chance to prove themselves. It's the "put me in the game, coach" factor.
On Canadian VCs:RS: They don't risk enough or fail enough. They're "puck shy".
On growth:JF: Rapid growth can be as risky as not growing or growing very slowly. If you bring in VCs to help you grow fast, you could end up being forced out and losing control of something you love. Realize that sometimes enough is enough.
RS: Venture capital always changes the dynamic.
On defensibility:RS: Do you have customers ready to buy? It all boils down to that.
Closing thought:JF: It's all about your passionate customers. Keep them happy and forget about everybody else. Read
Kathy Sierra to find out how.
The final session I'll summarize was about corporate blogs. The panel included
Tara Hunt, author
Debbie Weil and
Jeremy Wright of b5media. The highlights:
- Tara thinks corporate blogs basically suck. It's the difference between pure passion and corporate messaging. For her, blogs are all about real people and "since when do corporations have opposable thumbs?".
- Debbie wrote a book on how to run a corporate blog, so she disagrees. She thinks organizations can do a good job and have an impact as long as they are smart about it. For instance, they should give the blog a focus by picking a single corporate goal and blogging in support of it. Possible goals include getting you message out, empowering your users or just keeping customers informed.
- Jeremy thinks starting with internal blogs is a better idea and more exciting. One cool use of internal blogs is to create a forum for anonymous venting that would be responded to by the exec. team.
- The big point everyone agreed on: before you start a blog, read lots of them and make sure you understand the difference between transmitting and conversing.
So that's it. I'll end my Mesh coverage by offering the organizers my heartfelt thanks for a job well done.
Sign me up for Mesh 07.
Tags:
mesh06,
web 2.0