Starting your business with a spreadsheet

/ Alec

I get a request a week from someone in my network looking for advice in turning their concept into a business. They are talented people with great ideas but I like to get people thinking about,  “Does your idea support enough margin and a large enough market to build a business?” The reply I usually get is; “All the people (read friends & family)  that I have talked to LOVE the idea.” There is a big difference between a hobby that you love and business that can support you. Just because you love to cook does not mean you are cut out to build a menu with the margin needed to pay the rent on 5,000 square feet on Church Street. The majority of people I talk to might be better off keeping their endeavor as a hobby. Where it is still fun, the time commitment is manageable, and the extra money makes for a nice winter vacation to the Caribbean. Don’t get me wrong I’m a huge supporter of starting your own business. I’m on my 6th and we clearly need more entrepreneurs/small business owners in America. All I’m saying is start your dream with an assumption and a spreadsheet. Then go test those assumptions as cheaply as you can.

Resources:

sba.gov – Actually has some good resources especially around Loans

score.org – Can hook you up with a local mentor and has extensive online courses on the basics

Jaxworks.com – A set of free basic excel files

inc.com – Has many good articles and tools. I’m also a fan of there one page worksheet to get the concept grounded.

ShipIt – Seth Godin’s great workbook on helping you to be inspired and ship often.

Thanksgiving 2010

/ Alec

Turkey2 Thanksgiving is my favorite holiday so much so that I do it twice. Once with family and then again for Turkey2 with friends. On the drive home from Hanover, NH I had a chance to reflect on all the things I’m thankful for:

  • My family and friends whose love and support make it all worth while
  • The opportunity I have to build, make connections, lend a hand, and create things worth fighting for
  • My health – I’ve taken it for granted until a little ER visit this year
  • Vermont – There is nothing better than seeing the Green Mountains unfold into Lake Champlain and the village lights twinkle as I wing my way back from some far off city
  • Music – It never fails to lift me up on bleak days or send me driving to Montreal to dance the night away
  • Travel – It makes me a better person. To see a different patch of the world and then return home to appreciate what you have at home.

So, raise a glass with me as we sit around the table and toast all that we have to be thankful for. It is humbling. Cheers…

Patagonia Love

/ Alec

I was in the NYC Patagonia west village store a few weeks ago to replace my EMS soft shell jacket. While I was there perusing all the goodies I commented to one of the reps that my Patagonia rain shell was breaking down. He told me to bring it in and they would replace it. I was skeptical. On Friday with out a blink they proved me wrong and I’m now a Patagonia brand loyalist. I’ve flirted with outerwear from Mt. Hardware, EMS, and Arcteryx over the years but Patagonia made it easy to convert me. I got fair use out of my prior jacket with trips to Asia, hikes in Scotland, and many a day of spring skiing. “No worries”, the store manager said just take better care of this one by cleaning it more regularly and I learned that light heat in the dryer was good for it. Cool. In fact the ROI of giving me a new Torentshell jacket has already paid off. I bought some Patagonia shoes that were on sale at Zappos. Score one for brand marketing done right. It is all about the product and I’ll happily pay the Patagonia premium for that level of service.