72 karma · joined April 30, 2008
But beyond that I would dig deep into using the product. If I was going to assess the engagement (DAU/MAU) of a social network I would look at how people are commenting. Or maybe send 20 friend requests/messages to random people and see how fast on average they respond. You can get a feel for certain things just by using the product.
Otherwise I would just reach out and start a discussion. Some partners will be shy to give up metrics, but you usually can pull it out of them over time.
But that key predictor is different for every business. Finding it can be tough. But once you find it you increase partnership success chances by a lot.
The virtual goods and social gaming market were crazy back then. It exploded and came out of nowhere. In amorphous but fast developing markets like that you need to maintain a structure that allows you to stay nimble in order to take advantages of opportunities quickly until you find "the one." We had taken money from the wrong investors, hired a couple of the wrong people in the senior leadership positions, etc that really restricted this.
As mentioned, the foundation for maintaining the culture was laid far in advance. The tight relationships, respect/trust for each other, challenging and fun environment, were all things that we created from the beginning of the company.
If we hadn't of established those things I think everything would have fallen apart.
That being said, I think there are things you can do during and right after layoffs to ensure you don't damage your culture.
1. Make the layoffs swift, fair, and respectful. The longer you drag it out, the more damage you do.
2. Immediately after the layoffs get the group that remains together to explain what has happened. Reassure that there will be no more immediate layoffs to quell any fears.
3. Each manager after the group announcement should meet with their team members individually to give everyone to comment or ask questions they weren't comfortable with in front of the group
4. Focus on multiple social team events in the immediate couple weeks after. It is important that whoever is left gets use to the new smaller group.
5. Present a new plan of action as soon as possible to get focus and buy-in. More importantly show that you won't be repeating the same stuff that doesn't work.
6. Find and celebrate some "quick wins"
The goals of all your actions during and after layoffs is to build confidence in the leadership and team that is left.
To answer your second question, to my knowledge people stayed friends with those that got laid off. I still talk to many of them myself.
I hope this helps.
I think you are right that some consumers buy because of brand equity. But it certainly isn't 100% of the audience. Bonobos ($40M revenue company) is a perfect example. They broke through the noise and found an audience that wanted to buy based on fit + quality. Not until a couple year into the company did they really start to try to expand their brand equity.
I think there is a sizable audience out there willing to buy based on quality + fit and a lower price (I'm in that audience). But of course at some point to continue growing into a massive company you need to start developing that brand equity.
Positive Psychology is a really new but active area of psychology. One of the things they have found is that certain jobs are more oriented towards negative thought. For example, auditing is mostly about looking for mistakes. The interesting part is that people in these "negative" professions end up thinking negatively about everything in their life, not just their profession. As you point out, this is because the more we fire a certain set of neurons, the easier it is to fire and less energy it consumes.
But what is even more interesting is that there are certain professions like software development that are neutral on this negative to positive spectrum. In these cases we can actually influence how we think and build these neuron pathways just by context framing. i.e. instead of looking at a bug as fixing a mistake, look at it as an opportunity to improve the product.
1. Monetary - Yelp paid reviewers a couple bucks a review. At Viximo we paid out guarantees. Glam paid out guarantees on minimum CPM's to early publishers.
2. Social Capital - From stories I've heard about LinkedIN, Reid Hoffman and early employees got friends to use the network and invite others.
3. Early Access/Coolness - You see this with beta invites, restricting early access, etc.
The first iteration of our product gave a student a 100% free alternative to buying their expensive textbook. The product is completely digital with search functionality, notes, highlights, etc. Very similar to an e-text, but a more elegant experience (and of course free!).
We did that by leveraging something called Open Educational Resources (OER). OER is open source content developed by top institutions, organizations, and educational individuals. It sits in unorganized databases which makes it hard for a student or professor to adopt. We bridge the gap between the OER content and the student.
Ultimately this is our first step. We don't consider ourselves a textbook company. No student wants to read hundreds of pages of text. Now that we have a great base of content, we will be redefining the user experience so that the user can focus on bite sized pieces of information rather than long form text.
Let me know if you have other questions.
In particular to this study, it doesn't account for employee happiness. Personally, I and all of my employees, are far happier with an open space. Happy employees, make for productive and loyal employees.
I would gladly take an open space knowing the trade off that it might be a little more distracting, but a much more pleasant environment to work in.
If you asked my investors about my history prior to Viximo, they wouldn't have a clue what I had done. It didn't matter. In any case, the point of the article isn't the exact timing of these things, it was a demonstration of what core groups can do. I spent a lot of time evaluating how/why what happened, happened (including my personal history). And I can honestly say, this was the one thing that was 90% of the cause.
I view the core group as a long term investment for whatever you are working on. I didn't build the core group just to execute the particular idea for Viximo. In fact, if I think you go into it with that mentality, you are setting yourself up for failure at the beginning.
I'd love to see a list of the most hated twitter users as a measure of who is muted the most using your service. You could also do this with the hash tags to see what the most annoying trends are.
One of the surprising things is that the most lucrative vertical for Craigslist, apartment rentals, still hasn't seen major disruption. It use to be ok, but the noise has drastically increased on Craigslist in this vertical as Real Estate Brokers post listings that don't represent the actual apartment, or they keep posting the same apartment day after day wasting the users time.
If it was some random groupon deal for a new restaurant in SF, thats a different story.