The Post Money Value

The "Don't Do That" List (again)

Let's just dive right in. Here's a summary of some things I've experienced in the last ten days.  This is your "don't do that" list:

Don't:

• answer the question 'how much are you looking to raise' with '5 - 35 million dollars'.  It just screams lack of focus.
• start the meeting with 'we're in stealth mode and I can't discuss exactly what we are doing.' I will get up a leave the room since you aren't actually there.
• tell me that you believe Windows sucks therefore you will refuse to sell your software to anyone running Microsoft products. It narrows your market just a bit.
• mail me a 40 page business plan, sixty page financial report, plus your tax returns and THEN show up with an NDA to sign.  I won't.
• ask me to advance the capital at the first meeting. We don't.
• ask me to personally invest while the firm does our due diligence. I can't, won't, don't.

No Harm, No Foul, but still, these things push the envelope.

Great Ideas from the Wrong People

I've been running around asking business people the following:

"Let's say that for $175 a month, you could buy 'Just In Case' (JIC) insurance for those times when you get into a jam due to flight problems, weather issues, lost luggage, etc.  A problem happens, you call an emergency 24hr number and they take care of whatever. Cancelled flight? No problem, they get you on another flight, route you around problems, etc. If necessary, they can send cars, boats, trains, and planes to get you, etc.  Lost luggage? No problem, clothes, toothbrush, etc, are all sent to wherever you are or are going."

You get the idea.  For the most part, the road warriors, executives, etc, that I've spoken to loved this idea. They would pay even more if they could pre-buy an emergency block of flight hours from NetJets, etc, again, just in case.

So, somewhere in here, is a good idea for a whole bunch of insurance actuaries to grind on when it comes to services, fees, exclusions, etc.

While suits are working on this great plan, Air Canada came up with a brilliant idea. If you, on a per flight basis, cough up some extra coin and something happens, you get front of the line treatment.  If there is a cancelled flight, fear not and, for sure, don't go stand in line with the common folk. Call this secret number and we'll get you a nice sandwich, a Danish perhaps, hotel if required and, of course, a seat on a plane to get you where you eventually want to end up.

Awesome service right? Line cut, get out hold time hell, secret pass.  The flying public, trade press, etc, are pounding on Air Canada for having people pay for service you'd expect the airline to offer in the case of service disruption.  If the airplane breaks and you are stuck overnight, Air Canada puts you up, gives you a meal voucher, etc, and they generally do that today.  If you pay for this new service, you will get these things faster and will probably get a chocolate on the pillow. Okay, maybe not real chocolate, but you get the point.

When I frame a JIC service to people, they love it.  When Air Canada wants to 'sell' you a JIC service, it appears to backfire.

All in who delivers the idea, I suppose, and that is good news for start-ups. 

Sometimes the big boys simply can't play in the sandbox.

Adrian Kingsley-Hughes: A Fairness Example

I happened to make a left turn in ZDNET land and ended up on Adrian's blog page.  In scrolling down, I noticed this box at the bottom of the blog:

"The right to reply", now there's an interesting concept. 

Day 2 of the VC Roundtables

I'm headed up to St John's this morning after spending time in Halifax and Moncton.  The folks I've met continue to reinforce my belief that there are tons of opportunities here in Canada that get overlooked because we aren't getting out here to find them. Fun stuff.

I also had an opportunity to visit The Hopewell Rocks.  It is in the off season there which meant no crowds.

This is one of the more spectacular places on earth when it comes to witnessing the power of nature.  You can't get the full impact of a 30 foot swing in tidal range from my photo. Standing under this mammoth structure, you get it. 

This is totally worth your time to visit.  Off season, nobody around, hop the fence, free.