Biznition

The theme of these posts and other stories i’ve had in the que have been that of their finding in Business Week.  So here’s to you Business Week for providing hot content relevent to today’s business world in which we can learn from. Now onto the story.

So front and center on the cover of the latest edition is one man who I have watched over the last 3-4 years or so make his way from the ground up.  (In this case the ground is co-hosting a TV show on TechTV)  This man is Kevin Rose, a driven entrepreneur who’s path is a dream for many.  He began on the show Screensavers where he interviewed many guests and began to know the heart of the technology community through his program.  Business Week stated that he left TechTV (which I did not know the reason for him leaving, as I was a loyal watcher until this article) to pursue the idea of mass media one might say.  Today he is the developer and innovator for digg.com, an online site fueled by its users who submit stories from a variety of topics (technology is most popular).  To give you perspective on this concept the idea is that users “vote” on a story based on whether or not you “digg it” and the more diggs one story recieves, the faster the story elevates to the top.  A very simple concept this is, and now it’s estimated at around $200 million in value of which Rose is the proud owner of between 30-40% (www.businessweek.com).  His path wasn’t an easy one as he lost a girlfriend through the start-up process but his initial investment was just $1000.  Sure he brought aboard investors along the way but he was very limited as to he let participate because it was his vision and he wanted control.

In my mind Kevin Rose lives the american dream going from a $10000 net worth to being $60 million in a few years.  The key is longevity with his startup as is the case with any other.  As you begin to look across the internet and the business world, the buzz words of web 2.0, viral marketing, social networking and the like are springing up like nobody’s business.  The new technology revolution and internet boom has begun once again but this time is revolving around the concept of an idea being consumed and fueled by the masses.  It’s true that the iPod is an innovative piece of technology and marketing, but the concept behind it will die off sooner then the concept behind digg.com.  To all entrepreneurs who dream of making it big, develop ideas that will be consumed by the masses.  As easy as this sounds it is no small task, many people overlook the concept of “the market” and what it means to a business.  In order for business to work this fundamental must be answered and then planned around.

 Enough of the 100 lecture, go out and thrive on innovation.  And here’s to Kevin Rose, be sure to check out his podcast Revision3 – Diggnation where he and Alex Albrecht discuss the hottest stories and some great beer.  You can find it at www.melodeo.com

Welcome Everyone!

Biznition has gone live as of July 30, 2006.  This site is developed to bring the online community a portal for hot business stories that involve growing trends, technology, global economies, international business, and marketing, just to name a few topics.  You will discover that posts will follow similar format in terms of highlighting one main article/topic and provide links and excerpts to/from others that I may find.  Please note that some articles referenced will be from print sources and may not be directly linkable online or involve some type of subscription at the corresponding site.  Biznition is solely providing a direction towards the cited content and not supplying it for viewers.

Now onto the content!

 In the latest edition of Business Week (http://www.businessweek.com/) there is an article regarding branding and the marketing of Coke.  Currently Mary Minnick is the marketing, strategy, and innovation director at Coca Cola and as the article points out is facing a tough time as the Coke brand slides with its decline of brand image.  Her methods are labeled as “blunt, worldly and smart” (Queen of Pop, August 7^th, Business Week) but her task is far from easy: to re-establish Coke as a leader in the beverage market. 

Upon reading this story there is an evident theme that is rising and that is: take risks and be bold.  I say this because her concepts of innovation involve product expansion into new categories of drinks as well as markets (beauty and health care).  From the college classroom textbook and lecture to the business world and even TV (The Apprentice) the theme for successful marketing is staying true to what you believe and taking risks. The following is an interesting quote to follow this concept

“Creativity requires the courage to let go of certainties” (Erich Fromm). 

Creativity will bleed from us if we unchain our self from constraints such as past results and our natural notion to fight change.  So go forth and follow instinct and passion within your work whether it’s marketing or not.  There will always be a time when you can’t hit the home run but you will never know if you do not step up to the plate.