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MusicTech

We ain’t never going back, but the path forward ain’t clear.”                                                    

– some country song, (I think)

By some account the music industry has been “decimated” by the digitization of music.  Piracy, freemium models and the consumer’s unwillingness to pay for music are often cited as the villains in this fairy tale.  While you can go to any of the multitude of music conferences and hear someone or even a panel of someones bemoaning the current fate, few are talking about what comes next.  Maybe in the point solution way, block chain can “fix” complicated licensing labyrinth or algorithms can solve the problem of new music discovery.  But not in a holistic way that looks at the industry and envisions the “new” industry.  In part, this is because the ones doing the crystal ball gazing are existing insiders with vested interests.  We can talk about block chain but can’t talk about the fact that in a block chain world the massive infrastructures that are rights organizations would be reduced to authenticators, a role that requires many fewer people.  We can talk about the direct-to-fan movement but can’t acknowledge that this could cause the current label system to collapse (making them well-funded barriers to change). But the real driver of the current lack of vision for the industry is that we just don’t know.

Unknowns to knowns

There is a species of organization purpose-built to thrive in a world where the “unknowns” outnumber the “knowns”…startups.   That is why I, and VL Group are focused on this critical market of mass innovation.  I don’t know where the innovation will come from but I know it will come from startups.  That is why, from our API, to our pricing, to our collaborative approach we are making music startup ready.  How do we use music to drive enhanced user engagement and user experience?  How do we help fans find the next sound that they are going love? How do we help artists monetize their work, their audience and their brand?  The answers to these and other questions will emerge in the coming years and we are betting it won’t come from inside the industry.

Go!

We have just started and there is a lot more to do (this shit is hard).  But we are moving.  From our API to our artist stores to label relations, we are working on every front to ensure that we enable startups to explore and experiment.  So put on your headphones, set your sights high and build something amazing.  Our industry is counting on it.

Making The Most of NOEW

I have been telling myself I need to get back to blogging. The kickoff of NOEW this Friday seems to be a good jumping back in point.  So here are my Top 5 tricks for making your NOEW experience even better (it’s already going to be good).

5. Go To Sessions

This seems pretty straightforward.  However, I am not just talking about the ones you circles on the agenda.  Go to random ones as well.  You never know who will inspire you, what you will learn or even who you will be sitting next to.  There are a lot of great sessions  regardless of your interest.  Take this week to stretch yourself.  “Audit” a few classes and I am sure you will come away with some lagniappe.

4. Introduce Yourself

Networking 101, say hi to the person you are sitting next to.  NOEW is always full of pitch competitions and showcases.  Take a minute and prepare your own personal pitch.  Be able to answer the question, “why did you come?”  Make your goals known and you will be happy to se that people are eager to help you achieve them.  Practice the, “what do you do?” question as well.  Make sure that it is short and makes the questioner say “that’s cool.”  Also no apologies.  No, “I am just a…” or “I am a X but I don’t really like it.”  You are not your job.  You are what you love to do. The goal of entrepreneurship is to make them one in the same.

3. Wear Something Unique

IRL connections are made easier when you can tell someone that you are the person in the bright red dress or the Johnny Cash trucker cap (that’s me).  In a town where everyone has a costume collection don’t worry about going too far.  There is a reason that startups all wear the same logo t-shirt at these types of things.  People can’t help/meet/connect you if they can’t find you.

2. Takes Notes

Not just in sessions.  Take time between sessions and throughout the day to jot down ideas, learnings, people you meet.  There will be not shortage of great ideas and inspiration.  Be ready to catch them.

1. Be Grateful

Entrepreneurship can be a lonely pursuit.  It doesn’t have to be.  NOEW is a great place to find kindred spirits.  Making it happen each year is a lot of work.  Having worked with Idea Village for year now on their accelerator program I have had a inside peek.  So when you see a staffer from Idea Village say thank you.

See you there.

“You Can’t Knock The Hustle”- JayZ

Uppenteaux Da Rite

Dylan

“Everything in New Orleans is a good idea.” – Bob Dylan

Yesterday I had the opportunity to do the first-ever AMA for Technical.ly on Slack. We covered a wide range of topics but much of the thread focused on on the growing startup scene here in the Crescent City.  Having spent a lot of time in the East Coast startup scene, first in Boston during Web 1.0 and then in the 95 corridor between D.C. and Philly, I tried to sum up my experience on the 3rd coast.  While cost of living, tax credits, and a growing investor community definitely play a part of the rationale for startups to come to New Orleans there are 3 other less quantifiable reasons.

Passion

Successful founders and investors know that without passion the trials of a startup are often insurmountable.  So what if you were in a city where almost everyone was chasing their passion.  Rather than being the outlier you were  surrounded by musicians, bartenders, teachers, artists, chefs, and other founders all chasing their dream.  New Orleans is not only tolerates your quest but in fact requires it.  You can do a lot of things here but you can’t do anything half way.

Tribes

From the Mardi Indians to the multitude of Krewes that populate the colorful floats in the parades New Orleans is full of groups of people supporting a common cause.  You may find yourself feeling alone in many places but here all you need to do is look around to find others that are going through a similar experience.  Need proof check out the 610 Stompers, Pussyfooters or NOLA Meetup.  Being a founder can be a lonely job and sometimes it is the community around you that makes the difference between staying the course or stopping too soon.

Inspiration

The culture and resiliency of New Orleans are two of the characteristics that make a startup successful.  You can’t swing a daiquiri in this town without bumping into examples of these critical factors. From the school system to the neighborhoods to the loose coalition of crews that come together every year to make Mardi Gras the celebration that is known around the world culture and resiliency are always on display.

That’s My Pitch

This is a city where being in the high school marching band is very cool and the Scrabble score for the word that sounds like “go” is a minimum of 13 points. I encourage all founders to find the place that is best for them not just the place that is closest to them.  And in that search, I suggest everyone to “Geaux to New Orleans”.

F*#ked It Up…Now Fix It

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We all make mistakes sometime.  As individual we are taught to apologize and hopefully the transgression will be forgiven.  However research shows us that the a mistake can impact trust and my friend Ed Trolley used to say that with trust, “you take the elevator down but have to take the stairs back up.”  Some research shows negative stories are more than 4x more viral than positive ones and that it can take 10+ positives to overcome a negative.  Perhaps this is why roses come by the dozen.

This is not to say that the effort required to recover is not worth it. Especially as a startup.  Loyalty to a brand has been shown to INCREASE after a mistake is recovered from.  This is especially true when the recovery exceeds the expectation of the impacted.  Think Zappos, Nordstrom and others that are storied as “over-recovery” companies.

Acknowledge

You start by admitting it.  Tell your users, clients and team that something went wrong.  Don’t ever try to ignore it.  This is the time to channel your inner Stoic warrior.  Focus on what is not what you wish it was.

Accept

Missteps often have a strange gravity on us, turning our focus to the past rather than the future.  Acceptance does not mean internalizing it.  You and your team are not the mistake.  You remain a smart, focused, execution machine.  You just had a bad day.  The key is to not let that day become a week.

Recover

Now it is time to get to the fixing.  There are plenty of resources, such as root cause analysis, to help you here.  My contribution to this is simply to go back to where your startup began…focused on the problem to be solved and user to be delighted.

We all try not to make mistakes.  But in a world where we are also required to constantly be trying new things, it is inevitable.  The key is to focus on the recovery and the learnings that come from the process.  In doing so, you may be creating even more loyal customers.  And that is no mistake.

NOEW 2015

Last week New Orleans officially added a new season to the calendar…Entrepreneur Season.  The annual New Orleans Entrepreneur Week, NOEW (pronounced “no-ee” since nothing down sounds like it looks) is in the books and this year was one that may go down as the tipping point, not just for New Orleans but perhaps even the regional ecosystem.

Last year I wrote about my views on NOEW 2014 and stated that I thought that Idea Village and the ecosystem were at a point where roles and responsibilities needed to change.  As entrepreneur-in-residence this season I had a ringside seat to watch those changes begin to take place.

Uppenteaux Da Rite

Jim Coulter’s keynote provided the perfect left-brained showcase of the growth and impact of NOEW, balancing out the stubborn, perseverant right-brained passion that is Tim Williamson.  With attendance, start ups and partner organizations rapidly growing it was a set of charts that every startup should aspire to.

Friday’s Demo Day pitches were another example of the growing strength of the ecosystem.  My co-EIR Hank Torbert and I had the privilege of working with 15 amazing companies ranging from a freshly launched app to an industrial technology led by a former EIR. What all these companies had in common was quality.  Many of them were announcing new partnerships, accelerating progress and even funding. From the founders to the traction they were getting these were all companies that had earned the right to be in the room.

And what a room it was.  Over one hundred investors both local and national crammed into a conference room to get a look at what many across the nation have overlooked.  Our goal as EIR’s was to create a sense of FOMO for those that were not in that room and based on the buzz, business cards and emails we may have succeeded.  This year’s room was filled by the hard work of Alex Rawitz and his tireless networking.  My guess is whomever has the job next year will have a much easier time of it.

One Festival.  Many Tents

The partner organizations pitches were a joy to see as well.  Leveraging the NOEW platform to elevate their efforts both locally and regionally they brought energy and passion to the party.  Idea Village’s open platform has become a Jazz Fest for entrepreneurship and festivals are what we do best down here.  The Delta Regional Authority brought startups from the many states within its domain and once again New Orleans served as the gateway to the Mississippi. This time for new ideas rather than barge loads of goods.

Second lines, cocktail parties, celebrity chefs on panel, Saints announcers and brass bands reminded everyone that this was not your typical conference but this was a truly a New Orleans style festival.  One that is not only for the locals but one that can and should draw entrepreneurs from everywhere. If you want to read a great piece on this check out this post.

My Mission

The 300th anniversary of New Orleans is only a couple of years away and I think it is time to go back to where it all began.  I want the upcoming NOEW’s to be made up of the same crazy gumbo that started it all.  I am looking for French, Spanish and Caribbean entrepreneurs and ecosystems to partner with the Idea Village and to see NOEW and New Orleans as the perfect platform for highlighting their accomplishments and journey.  So if you are one or know of one please let me know.

Yeah You Rite

The team at Idea Village did an amazing job and I will add my voice, applause and gratitude to the multitudes that have already shown their appreciation.  I would especially call out the team that worked with Hank and I and the 15 demo day companies; Alex Rawitz, Amelia Lane Johnson, Leilah Bundesen-Magier and James Arney.  Without you guys Hank, me and all the companies would not have made it.

I am not sure what my role in NOEW 2016 will be but I am sure I will be there.  I hope to see all of you there too.IMG_0268

Craft Cocktails & Crafting Pitches


Bp2014

Last month I, along with Tim Williamson, had the honor of hosting the second Barpreneur at SoBou restaurant. This event was a fun gathering of local entrepreneurs pitching to Tim and I. There are a number of things that I really like about the event (pic above is from the last one). I like that even if you aren’t pitching, or an entrepreneur the whole bar gets into it. You can see everybody listening, nodding and of course clapping as the treps deliver their pitches.

Another thing that I really enjoy about the event is the structure. Startups deliver a one minute pitch trying to get chosen in the top 3 so that they can come back and pitch for 3 minutes. After the second round one entrepreneur was selected to join Tim and I for lunch. What I like about the process is that it is identical to real life. As startups we often get so focused on our decks, our one-pagers or our website that we forget the cocktail party, dinner table, hallway introduction. These are places where the objective of the pitch is different and you have to earn permission to continue the dialogue.

Following the Barpreneur process, here are my thoughts on one approach for making that first cut.

One Minute Pitch

The objective here is actually not to tell us all about your company (surprise) you are pitching to earn 3 more minutes. There are two parts to this pitch the first is your infomercial. Capture your audience’s attention with a wow fact, a big win, a mind-blowing benefit of your startup. You want the audience leaning forward, curiosity piqued wondering, “how can they do that?” Stay away from operational details unless they build credibility that would win over non-believers but keep it brief. Only tell me that 4 out of 5 dentists prefer you don’t give me the details of the study. This part should leave your audience thinking, “I want to learn more about this amazing product.”

The second part is the passion. Let your audience know why this is your mission and why you are the right person to lead this charge. Personal stories that show your commitment and dedication are “pitch gold” here. However, make sure its authentic. Where as you can often use hyperbole, etc. to good effect in the first part don’t try it here. Audiences have little tolerance for overstating personal details. Keep it real and don’t be scared to open up a bit. Vulnerable can be very compelling. This part should leave your audience thinking, “I want help/work with/buy from this person.”

I am looking forward to the next event and maybe even having lunch with you.

BP2015

Pay It Forward

One of the things that has consistently impressed me in startup communities is the willingness to pay it forward.  It seems to be a universal agreement in every ecosystem that I have seen.

Entrepreneurs have a heightened sense of the many contributors it requires to achieve success.  The potential customers willing to spend 20 minutes in a customer development interview, the other founders willing to lift their heads up from their own startup to offer feedback and advice as well as the advisors, mentors and others who pitch in to lend experience, expertise and extra hands are all part of the journey.  Like the volunteers who hand water and power gel to runners of a marathon, they all cheer when the runner crosses the finish line.

While many cities are looking to entrepreneurship as an economic driver what is overlooked is that this attitude can be the ultimate catalyst.  We just saw a great local example of this in New Orleans where the Jolly family just made a large donation to the Newman School. Tarun Jolly (TJ) is the founder, CEO, and Chairman of the Board of Renaissance RX, a rapidly-growing medical services business based in New Orleans that has attracted funding from TPG. At the announcement TJ said “As medical practitioners and entrepreneurs, Rupa and I believe strongly in the power of science education to fuel innovation and improve lives.”  I love that he identified himself as an entrepreneur and I love that he has not lost his commitment to paying it forward.  And hopefully it is contagious.  You can see the full announcement here.

In this spirit, I try to end all my conversations with, “is there anything I can do for you?”  So I will end this post with it as well.  Let me know if there is anything I can help you with.