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111 Mike Maples, Jr. On How Legendary Entrepreneurs Create Categories

LOM_Episodes-111 - Mike Maples Jr

Welcome to a special episode of Lochhead of Marketing. What you’re about to hear are the thoughts of one of the smartest people in Silicon Valley on Category Design. He is the entrepreneur turned venture capitalist Mike Maples, Jr.

Mike Maples, Jr. Is the co-founder of Floodgate Capital. Floodgate has led early-stage investments in companies like Twitter, Lyft, and much more.

Recently, I had the pleasure of showing up as a guest on Mike’s podcast. Usually after the guest podcast, he does a shorter episode where he synthesizes what he thinks he has learned from the guest.

Today’s episode is just that. Listen to Mike Maples, Jr. as he shares his thoughts on category design for entrepreneurs. With that said, let’s get into it.

Being a Legendary Entrepreneur

“Why do I, as an entrepreneur, want to begin category design at the beginning? Because you want to be 80 percent of a multi-billion dollar market that you created, that you design. And that makes you almost impossible to catch.” – Christopher Lochhead

Mike starts off by quoting a quote from the episode. This quote pretty much sums up why someone aiming to be a legend should do category design right from the onset. Legendary companies are born from extraordinary startups building breakthrough products that change the future.

Though you don’t always have to start from scratch. Few entrepreneurs and businesses realize that there’s a third lever to pull on the path to greatness: creating a category to add to the confusion.

Category Design vs Branding

Mike is aware that a lot of people are still not clear as to what Category Design is. Some confuse it with branding; some marketing ploy that can help your product resonate without actually changing the product.

“Category design could be confused with getting the right marketing slogan or the right three letter acronym like CRM or ERP or some other type of message that will hopefully resonate. Or we make the mistake of believing it’s a message you use to describe your business after you’ve achieved product market fit. But it’s far more than that.” – Mike Maples, Jr.

Traditional Marketing vs Breakthrough Startup

Mike gives a brief explanation of how Traditional Marketing works. Simply put, they are more concerned on fighting for market share of their current category. Think marketing battles between Pepsi and Coke. Conventional Startups tend to think along the same lines.

Whereas Breakthrough Startups try to create new categories to dominate in, making sure that they are the Kings of the Category before anyone else grabs a share of the market.

In a world of marketing slogans blaring at you left and right, having your own category lets you avoid the need to seek attention to compete. All you have to do is to show people that your new category is worth it, and the market will do the rest.

“All of us, including your future customers, employees and any potential believers, live in a very confusing and noisy world. Your startup won’t have a chance to get people to remember much about you and why you matter. So you have to be really clear on what you want people to know about you and only you, why it matters and why they should join your cause. The way to do this is not to talk about jargon, buzz words, or what Christopher Lochhead calls why my carbondigulator is better. Category design is about avoiding the comparison game. It’s not about being the best, it’s about being the only one in the category.” – Mike Maples, jr.

To hear more from Mike Maples, Jr. and his insights on category design for entrepreneurs, download and listen to this episode.

Bio

Mike Maples, Jr. is the Co-Founder and Partner at Floodgate, the host of the Starting Greatness podcast and a Co-conspirator with awesome Startup Founders.

Links

Connect with Mike!

Twitter: @m2jr

LinkedIn: in/Maples

Podcast: Starting Greatness

Website: Floodgate

We hope you enjoyed this episode of Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on Apple Podcast! You may also subscribe to his newsletter, The Difference, for some amazing content.

219 Be Where Your Feet Are: Scott O’Neil, CEO of Philadelphia 76ers & New Jersey Devils

FYD - Episode 219_Scott O'Neil

In this episode of Follow Your Different, we continue our run of legendary authors with today’s guest, Scott O’ Neil. He is the author of a hot new book called Be Where Your Feet Are: Seven Principles to Keep You Present, Grounded, and Thriving.

Scott O’Neil is the CEO of Harris Blitzer Sports and Entertainment. Which makes Scott the CEO of:

  • The Philadelphia 76ers of the NBA
  • The New Jersey Devils of the NHL
  • The Prudential Center in Newark, New Jersey
  • Dignitas, a pioneer in eSports
  • A number of minor league teams
  • A Venture Fund
  • Real Estate developer / investor
  • An Innovation Lab

Today, we get to hear what it takes to manage not one, but two of North America’s elite professional sports teams, and how they have dealt with COVID and its effect on the category. We also dig in to Scott’s view on what sports role is in society, and how leaders should deal with social change and justice.

Of course, we’ll have Scott pop the hood on how they turned the 76ers around and make them a winning team again. So if you love taking the long term in business and trying to figure out how business can make a difference as well as be successful, you’re going to love everything about this episode.

The Role of Sports in Society

Scott talks about his enthusiasm on work, and being able to do so in areas that could use the work generated by his businesses. Though at the end of the day, he says that he is more of a “run to work, run home” type of guy.

He also shares his thoughts on the role of sports in a society. While there are some that argue that it shouldn’t have that much of an impact and influence, it is undeniable that it’s there. The question now is, how do you use that influence to make the world a bit better than before.

“The argument is, sports shouldn’t have this kind of influence and impact. And I say, great, it does. I actually have an opportunity to help people and drive change in communities and bring people together and create community.

Coming off a pandemic, where we’ve had a year of being isolated, I don’t think there’s a better platform to build and deliver what we need more than anything else in the world right now, which is connection, and a bit of escapism, and community. And to do that where I get to do it every day is quite a blessing.” – Scott O’Neil

The New Roaring 20’s

When asked about how some companies are already gearing up for the end of the pandemic, Scott thinks that we are on the verge of a new Roaring 20s, much like what happened in the 1900s.

He is not far off the mark on this. Wall Street Journal has reported that companies today have more cash on hand than at any point in history, and the US consumer is wealthier now than at any point in US history. Which sounds so insane in the heels of this pandemic.

As the desire of people to reconnect and the mental health strain of being isolated escalates, there will be a huge demand for the category that builds up community and togetherness in the future, as everything opens up again.

“So you can imagine to watch an NBA game and be the only fan which I was at the game. I had this incredible boost of mental health, which I think is going to be the next great challenge over the decade. I think all this isolation and separation and anxiety that that we are feeling is going to put quite a bit of strain on us as leaders, as dads and moms, and people in the community.

As we’ve set out to define what that new normal is, I just felt the boost of of kind of happiness and energy and connection. I will say that I think these roaring 20s are going to be coming at us just like they were in the 1900s.” – Scott O’Neil

Being Role Models

Scott then shares his insights on players and executives as role models for the future. While he thinks that our Frontliners make for better role models, players should not disparage themselves in this regard.

Being in a sport that has a massive reach, whether you are an NBA player or an eSport star, means that you have an audience that you can influence one way or another. So be a great role model for them, so that they in turn can be role models for their community.

“The reality is the world has changed. Those of my peers who scoff at TikTok influencers, or YouTube stars, or Instagram famous people, I got to tell you: you guys are missing the boat. The reality is, they have as much or more impact and influence, then the athletes that were playing that they’re playing on our courts and skating on our ice. And the reality is, is it’s about scale and audience and messaging, and in our players having to do a phenomenal job.” – Scott O’Neil

To hear more from Scott O’Neil and his insights on business and the Roaring 20s, download and listen to this episode.

 

Bio

Scott O’Neil is the Chief Executive Officer of Harris Blitzer Sports & Entertainment, an organization with the mission of building passionate, high-performing teams that inspire people to enhance the communities where its teams live, work, play and win.

O’Neil is responsible for the organization’s leadership, strategic vision, operations and global ambitions, including the pursuit and acquisition of sports, entertainment and consumer-facing properties.

He is the acting Chief Executive Officer over all properties within the organization’s portfolio and under the ownership of Managing Partners Josh Harris and David Blitzer, including: the Philadelphia 76ers (NBA), the New Jersey Devils (NHL), Prudential Center, a top five-ranked performance venue in the U.S. located in Newark, New Jersey; Team Dignitas, an internationally renowned esports team, NBA 2K League’s 76ers Gaming Club, the Sixers Innovation Lab Crafted by Kimball, the GRAMMY Museum Experience Prudential Center, the Delaware 87ers (NBA G League), and the Binghamton Devils (AHL).

Scott O’Neil is an acting Co-Managing partner for Elevate Sports Ventures, a sports and entertainment agency created in partnership between HBSE, Live Nation, the San Francisco 49ers and Oak View Group.

With more than 20 years of experience in the NBA, NHL and NFL, O’Neil has earned a reputation as a leader of leaders and is one of the most connected, dynamic and driven executives in the industry today.

Previous executives whom he has mentored and managed run many of the top organizations in sports and entertainment today; those he currently manages are poised to lead the industry into the next generation.

O’Neil’s reputation for authentic leadership, unparalleled drive to innovate, and emphasis on the importance of corporate culture has placed him at the forefront of the industry vanguard. In merely six years overseeing operations for the properties in HBSE’s portfolio, O’Neil led the Philadelphia 76ers to sign the first jersey patch sponsorship in “Big Four” sports history; construct the most technically advanced training complex in professional sports, the Philadelphia 76ers Training Complex; establish an industry-leading Innovation Lab, and become the first U.S. professional sports franchise to acquire a world-renowned esports team.

In that same period, under O’Neil’s ambitious and aggressive leadership, Prudential Center has become a top seven and top five most-played venue in the U.S. and the world by Billboard and Pollstar, respectively, and welcomes over 1.75 million fans and event attendees through its doors annually.

Of his professional accomplishments, O’Neil considers his organizations’ corporate culture and dedication to community service his greatest successes and future legacy. The Philadelphia 76ers have been named one of the “Most Innovative Companies” in the world by Fast Company magazine (2018), one of the “Top 50 Cultures” in the U.S. by Entrepreneur (2017), three-times named a “Best Place to Work in Philadelphia” by the Philadelphia Business Journal (2016, 2015, 2014), twice named a “Best Place to Work in Pennsylvania by the Central Penn Business Journal (2018, 2017) and named one of the “50 Best Companies to Sell For” by internationally-renowned Selling Power Magazine. Prudential Center was named a “Best Business” by NJBiz (2016). O’Neil’s belief that those who steward iconic sports and entertainment brands have the responsibility and privilege to use those platforms to mentor the next generation of leaders and make the world a better place is the driving force behind HBSE’s community engagement initiatives.

Recognizing the important role HBSE’s properties play within its communities, O’Neil’s employees individually volunteer 76 hours of service annually in the communities where their fans and patrons live, work and play, resulting in more than 30,000 hours of dedicated community service each year. The Philadelphia 76ers’ charitable endeavor, the Sixers Youth Foundation, has additionally raised more than $1 million for Philadelphia-area youth last year alone and is leveraging sports to help children in need.

A former President of Madison Square Garden Sports, O’Neil was the key architect in some of the largest venue sponsorship deals in history while overseeing iconic sports properties including the New York Knicks (NBA) and New York Rangers (NHL). O’Neil spent seven years as the Senior Vice President of the NBA’s renowned Team Marketing and Business Operations group, where he advised NBA, WNBA and NBA Gatorade League teams on all business operations, CRM Department and NBA Canada business. Earlier in his career, O’Neil served as the President of HoopsTV.com and held positions with the Philadelphia Eagles (NFL) and New Jersey Nets (NBA).

For almost a decade, O’Neil has served as an Alternate Governor for the NBA and NHL. In 2015, 2016, 2017 and 2018 the Philadelphia Business Journal named O’Neil to their “Power 100” list of the “most influential people” in the greater Philadelphia region; he additionally received Philadelphia Business Journal’s “Most Admired CEO” honor in 2018. Sports and technology outlet, SportTechie, named O’Neil as 2017’s “Most Innovative Executive”; in 2016, Philadelphia Magazine declared him one of the “Most Innovative Leaders” in Philadelphia. As a young executive, O’Neil was thrice recognized at Sports Business Journal’s acclaimed “Forty Under 40” Awards; launching him into the publication’s renowned “Hall of Fame.”

He additionally received “Forty Under 40” honors from Adweek and Sporting News in 2006 and 2005 respectively.

O’Neil’s influence and experience has earned him a place at the podium at some of the largest industry conferences in the world, delivering keynotes at events such as: Leaders in Sport, Beyond Sport, Sports Business Journal’s World Congress of Sport, the IEG Pivot Conference, the Ivy Sports Symposium, Sport Marketing Association’s Conference and more.

O’Neil’s leadership practices have been chronicled and applauded in The Outward Mindset by the Arbinger Institute, publishers of The New York Times Best Seller, Leadership and Self-Deception, The Orange Revolution by Adrian Gostick and Chester Elton, and Potato Chip Ticket Sales by Kathy Burrows.

Scott O’Neil has made numerous appearances on CNN, CNBC, FOX Business Network, and has twice co-hosted Bloomberg television’s Bloomberg.

He also interacts daily with his more than 18,000 and 30,000 followers on Twitter and LinkedIn, respectively.

Scott serves on the boards for the March of Dimes, Zoomi Inc., the Sixers Youth Foundation and the Sixers Innovation Lab Crafted by Kimball.

O’Neil earned his bachelor’s degree in Marketing from Villanova University and his master’s in Business Administration from Harvard Business School.

He currently resides in New Jersey with his wife, Lisa, and three daughters.

Links

Follow Scott O’Neil on:

LinkedIn: in/Scott-O-Neil

Twitter: @ScottONeil

Read his book: Be Where Your Feet Are: Seven Principles to Keep You Present, Grounded, and Thriving

We hope you enjoyed this episode of Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on FacebookTwitterInstagram, and subscribe on iTunes!

218 Legendary Musicians’ Insights on Innovation with Panos Panay and Michael Hendrix, Authors of “Two Beats Ahead”

FYD - Episode 218 Panos Panay and Michael Hendrix

Creativity, innovation, and collaboration. These are words that get thrown around a lot in business. Yet too many business environments and company culture cultivate the exact opposite. In this episode of Follow Your Different, we discuss what business leaders, entrepreneurs, and creators of all times can learn from some of the greatest musicians in the world.

Our guests today are Panos Panay & Michael Hendrix, the authors of a rockin’ new book called “Two Beats Ahead: What Musical Minds Teach Us About Innovation”. Dr. Deepak Chopra says,

“For a long time, researchers have that musical intelligence can awaken the non-linear mind to healing, creativity, and innovation. This book is a roadmap for innovators, entrepreneurs, and those seeking new avenues for exploring and reimagining the future.”

You’ll want to stay tuned for this dialogue about the power of music as an insight to innovation and creativity. Pay close attention to why musicians are constantly creating and not editing, the power of curiosity, and their thoughts on how to build a legendary team.

Music is Everywhere

When asked why music seems to be all around and how it affects us, Panos Panay thinks it’s because music is primordial. Even as we are in our mother’s womb, our sense of hearing develops before everything else and we get exposed to our mother’s heartbeats.

For him, there’s something really elemental about music that is unlike anything else.

“It’s the most basic human sense. It’s what connects us to our humanity. And I would say what connects us to the broader universe. That’s the universe is made of sound. Ultimately, we are made of sound.” – Panos Panay

Building Designs that Delve into the Unconscious

Michael Hendrix talks about Embodied Cognition. Simply put, it is the understanding of the world though our bodies, specifically through our five senses.

What got him interested on the topic was when he started to wonder why some designs do better than others. What he found is that it all boils down to how it feels when using said design. If you are given two tools with the same functionality but one feels more weighted or balance, chances are you’ll buy that one over the other.

“There’s been plenty of studies that show that we humans give importance to thing that have weight. So in design, and we that’s translated, for example, the tension on a car door is increased to make the car deal for heavier when you shut it. So you feel safer in the car, because they’re actually been valued. They’ve been engineered to be so light to make the fuel efficiency better. But if you didn’t have that tension, you wouldn’t have the resistance. And you would go, oh man, this thing’s too flimsy.” – Michael Hendrix

Panos adds that this was a problem with the early designs for electric vehicles, which they discussed in the book. They were designed to be lightweight for energy efficiency, but that backfired on itself. People thought it was too light, therefore it might not be as safe as traditional vehicles. So that’s one more thing to think about when creating your product designs.

Something Different

Michael talks about their book, Two Beats Ahead, and their thought process when writing it. First and foremost, they didn’t want it to be like most business books out there. While they are informative and helpful to some, it’s not exactly fun reading them.

So they are committed to not writing one of those books. They want something that is not repetitive and redundant to the point of making you exhausted by the end. Their aim was to write a book that was full of surprises and fun to read from cover to cover, while sharing their thoughts and insights at the same time.

“As we were talking about beginning, the first chapter is about listening. It’s about opening yourself up to the things or the unexpected around you, not prejudging them. So we thought what a better way to start the book than to start the book with 12 blank pages. That before you read anything, they force you to confront this idea. And then if you confronted it, and you’ve been confused by it, you’ll get into the book and you’ll sort it out. We wanted that to be the first thing you experience.” – Michael Hendrix

 

To hear more from Panos Panay & Michael Hendrix and their legendary insights, download and listen to this episode.

Bio

Panos Panay

Panos A. Panay is the founder and current managing director of the Berklee Institute for Creative Entrepreneurship (BerkleeICE) as well as a passionate entrepreneur, educator, and startup mentor.

As the founder of Sonicbids, he created the leading platform for bands to book gigs and market themselves online, building a subscriber network of 550,000 bands and 35,000 promoters from more than 100 countries.

He led the company as CEO for 13 years, from its inception until after its successful acquisition in a deal backed by Guggenheim Partners. 

Panay is also the cofounder of the Open Music Initiative, which has brought together more than 200 leading music, media, technology industry organizations, and academic institutions to create a blockchain-based open protocol for uniform identification of musical rights owners and creators.

At Berklee, his work and approach to entrepreneurial and innovation pedagogy builds heavily on the concepts of music thinking, and in particular jazz, as a catalyst for creative breakthroughs in business, life, and art; and he has spearheaded multi-disciplinary collaborations between Berklee and MIT; the design firm IDEO; and Brown University.

He writes frequently about startups and entrepreneurship for blogs and publications such as ForbesWSJ Accelerators, and Fast Company; and guest lectures and speaks at many universities and events around the world.

Awards include Fast Company‘s “Fast 50” honor; Inc Magazine‘s “Inc 500”; Mass Hi-Tech All Stars; Berklee College of Music’s Distinguished Alumnus Award; Boston Business Journal’s “40 under 40;” and BostInno‘s 50 on Fire. Sonicbids and Panay were also profiled in a chapter in the Financial Times-published book Outsmart by best-selling author Jim Champy.

Panos Panay is a native of Cyprus and holds a Music Business/Management degree from Berklee College of Music.

Michael Hendrix

Michael Hendrix is a Partner and Global Director of Design at IDEO. As a member of the senior executive team, he collaborates with the firm’s studio leaders and teams to advance IDEO’s creative culture and world-class design capabilities.

A natural trailblazer and collaborator, he co-founded an art school for high schoolers, a professional design curriculum for undergrads, two professional design clubs and three small businesses, the last of which, Tricycle, was recognized by Businessweek and Fortune as a thought leader for sustainable design, and purchased by Shaw Industries, a subsidiary of Berkshire Hathaway, in 2017. This diversity of experience has informed his leadership roles at IDEO and his work with leading brands and organizations including Target, Converse, Tempur+Sealy, Steelcase, the DIY Network, and the Department of Homeland Security. In 2015 he served as an advisor to the White House’s global entrepreneur initiative, SPARK.

His 25-year career has made him a sought-after speaker, delivering keynotes at WIRED, SXSW Interactive, SXSW Music, AIGA, FUSE, HOW, Design Management Institute, Sonar+D and Moogfest. He is an Associate Professor at Berklee College of Music and a regular guest lecturer at universities including Harvard, Mass Art, RISD and his alma mater, the University of Tennessee.

As a graphic designer, Michael has received more than 50 awards from major U.S. design associations and publications. He is an AIGA Fellow—acknowledging his contribution to raising the standards of excellence in graphic design, a Marshall Memorial Fellow, and a BMW Foundation Alumnus, both acknowledging Trans-Atlantic leadership for civic issues. Michael continues pursuing this interest as a board member of IDEO.org.

He is co-authoring a book about the shared mindsets of musicians and designers, to be published August 2020 by Public Affairs, an imprint of Hachette Book Group.

Links

More on:

Panos Panay

Michael Hendrix

LinkedIn:

in/PanosPanay

We hope you enjoyed this episode of Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on FacebookTwitterInstagram, and subscribe on iTunes!

217 Madoff Talks: Uncovering the Untold Story Behind the Most Notorious Ponzi Scheme in History with Author Jim Campbell

FYD - Episode 217 Jim Campbell

There’s scams, crimes, and frauds. Then there’s what Bernie Madoff did.

CNBC says that he committed the nation’s biggest investment fraud. The Wall Street Journal called it “the biggest ponzi scheme in history.” At sentencing, Judge Denny Chin called Madoff’s crimes “extraordinarily evil”. In the end, many people lost everything they had.

For those who are unaware, Madoff stole $19.5 billion, which he said had grown to $64.8 billion. Though not a single dollar or penny was ever invested in anything. He stole it, plain and simple.

Jim Campbell joins us in this episode of Follow Your Different, as we cover his book about the topic. His book, Madoff Talks, is already being considered as an authoritative source on this massive crime committed by Bernie Madoff that impoverished thousands of investors around the world.

What you are about to hear is a deep, shocking, and riveting dialogue that takes you through it all. From how Madoff did it, to the systemic problems with US regulators and the ongoing failure of the SEC.

The Hows and Whys of the Book

When asked how the book came to be, Jim talks about how he had built a connection with Bernie Madoff. What started as a simple correspondence culminated in over 400 pages of communication over several years.

Jim figured that with all the information he has, it would be a shame to not do anything with it. So began his mission to investigate and sort out the truths and lies about Madoff’s claims.

As to why he wrote the book, he had 3 major motives for it:

  1. He wanted to know how Bernie’s mind operated
  2. The architecture of the whole failure: It was not just Madoff acting alone, but the system enabling him to do so
  3. Whether or not Madoff’s family knew about it

 “The mission to expose the failure of the system is the real takeaway of the book. People were interested in the sexy part: Bernie talking, what did Ruth know, and how the heck did he get away with it. Which is all fascinating and riveting stuff, but the takeaway is this is what had happened and how it happened.” – Jim Campbell

How Madoff Exploited the System

Jim shares how Madoff worked his way around the system, subverting 5 SEC investigations before someone finally figured it out.

Madoff did so by exploiting the system itself, in small ways to keep it unnoticeable. What surprised Jim is how Madoff ran a legitimate, squeaky-clean company to hide his other dealings. So while the company took the brunt of investigations, they couldn’t catch him on anything. Simply because there was nothing to catch on that front.

He further explains that the SEC did not have the right examiners on the case. They kept exonerating him on the wrong crime, which was Frontrunning. The final piece of it was the examiners were never allowed to talk to anyone else in the firm except for Bernie or his right-hand man.

“So he blocked them, he took advantage of the silos, and they kept investigating the wrong (thing). They chased the wrong rabbit.” – Jim Campbell

Penalties, or Lack Thereof

Jim goes on to iterate how Bernie Madoff gamed the system and played to its weaknesses. By studying how individual silos operate and the lack of communication thereof, he got away with a lot of things.

What’s fascinating and horrendous at the same time is that he could’ve easily been called out on his subterfuges had people been more thorough in their line of work. Yet Bernie had a trick for this as well, by usually calling in right before the weekend or after trade hours and seemingly burying details in “paperwork”, or having to check in a foreign office that doesn’t really exist.

When asked if heads rolled after the whole ordeal was made public, here’s what Jim Campbell had to say:

“The SEC reports were excellent reports. None of them were censored, so you got to give them credit. Except they issued it on a Labor Day weekend, with hardly any coverage. Eight people were demoted at the SEC, none at the management level. So yeah, nobody was penalized.” – Jim Campbell

 

To hear more from Jim Campbell about Bernie Madoff and the damage his actions has wrought, download and listen to this episode.

Bio

Jim Campbell is the host of the nationally syndicated radio show Business Talk with Jim Campbell. He is known for his hard-hitting interviews of leading figures from the worlds of business, politics, and sports.

Known for “firsts,” Campbell snagged the first extensive interview with former New York Governor Eliot Spitzer after his resignation, the first interview with former Tyco CEO Denis Kozlowski after his release from prison, and the first broadcast interview with former stock analyst Roomy Kahn, a government informant in one of the biggest insider trading busts in American history.

Campbell’s extensive corporate, consulting, and entrepreneurial business background includes roles at KPMG Consulting, Dean Witter Financial Services (now Morgan Stanley), and IBM. He is founder and president of JC Ventures, Inc., a management consulting business.

Links

LinkedIn: in/JimCampbell

Book: Madoff Talks: Uncovering the Untold Story Behind the Most Notorious Ponzi Scheme in History

More about Bernie Madoff and Madoff Talks:

Wall Street Journal: Bernie Madoff Dead at 82

CNBC: Bernie Madoff dies, Mastermind of the Nation’s Biggest Investment Fraud

The Guardian: Madoff Talks Review

CBS: Madoff Talks by Jim Campbell

Fortune: Madoff Talks

We hope you enjoyed this episode of Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on FacebookTwitterInstagram, and subscribe on iTunes!

110 Category Creation: How To Dam The Demand

LOM 110 Category Creation dam the demand

With Category Design or Category Creation strategy, we often talk about the distinction between capturing existing demand, and creating new demand.

In this episode of Lochhead on Marketing, let’s talk about an in-between strategy that category designers use as a powerful tool in creating demand. That is to dam existing demand and redirect it in their own way, like the way a dam redirects water.

Damming the Demand

Marc Benioff, found of Salesforce.com, used this approach when marketing his new category. Bear in mind that when he launched Salesforce Automation as a CRM, CRM was already an established category. What made Benioff legendary is how he redirected the CRM traffic to Salesforce.

All it took was an idea: Sure, you want CRM, but you don’t want one that’s only available on-premise. Cloud CRM is where it’s at.

By adding a modifier to CRM, he dammed the demand for the old category and redirected it to his own. He’s creating a difference that did not exist in the minds of the market. Most importantly, he creates a new choice for them.

Expanding Your Reach

Much like Salesforce, Peloton did the exact same thing and ran away with it. They offered an alternative to boutique fitness in the form of home fitness. Yet again, it’s a choice that the market did not anticipate would have a demand. Peloton harnessed that demand and redirected it to their new category.

From there, they expanded it from Spin classes to treads. Eventually, they added home classes for Yoga, Pilates, and other activities usually reserved for group boutique fitness.

The use of the term Home Fitness created a demand that wasn’t there before. It’s like creating the void yourself and filling it up with your own category creation.

Tried and Tested in Category Creation

It turns out damming demand has been around for a long time. Henry Ford did the same thing with his new category back then. He dammed the demand for a horse and buggy with his new category name.

His new innovative category? It was the horseless carriage.

The same could be said for Marty Cooper and his wireless phone, which lead to the mobile phone category.

“Sometimes, new categories are named by what they are not. And when a category is named by what it is not, the category designer is purposely trying to dam demand.” – Christopher Lochhead

While Microsoft did not follow this model, they nonetheless created a new demand from existing categories. They did so by combining their word processor, presentation, and spreadsheet application into a bigger category that is Microsoft Office. Now, you don’t have to buy each software separately, and most consumers expect other companies that offer the same services to also have everything in one whole bundle.

So when you’re designing a new category, ask yourself: Where is existing demand that we can dam to drive revenue in the near term? Afterwards, how do we leverage the demand in the existing category to expand the demand of our own category design?

Bio

Christopher Lochhead is a #1 Apple podcaster and #1 Amazon bestselling co-author of books: Niche Down and Play Bigger.

He has been an advisor to over 50 venture-backed startups; a former three-time Silicon Valley public company CMO and an entrepreneur.

Furthermore, he has been called “one of the best minds in marketing” by The Marketing Journal, a “Human Exclamation Point” by Fast Company, a “quasar” by NBA legend Bill Walton and “off-putting to some” by The Economist.

In addition, he served as a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard acquired the company in 2006, for $4.5 billion.

He also co-founded the marketing consulting firm LOCHHEAD; the founding CMO of Internet consulting firm Scient, and served as head of marketing at the CRM software firm Vantive.

We hope you enjoyed this episode of Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on Apple Podcast! You may also subscribe to his newsletter, The Difference, for some amazing content.

216 The Comfort Crisis with Michael Easter of Men’s Health Magazine & Outside Magazine

FYD - Episode 216 Michael Easter

It’s easy to make the case that we are currently living at the most comfortable time in history. A lot of things are accessible to us with a push of a button. From getting information, entertainment, and even communicating over long distances, there’s an app to solve our problems. Though according to our guest, Michael Easter, we are having a “Comfort Crisis”.

According to the US CDC, 73.6% of Americans are either overweight or obese. That said, Obesity is a global problem, with at least 2.8 million people dying from it each year.

Our mental health is not exactly doing great either. Nearly 8 in 10 adults say the coronavirus pandemic is a significant source of stress in their lives, as reported by the American Psychological Association.

In this episode of Follow Your Different, Michael Easter discusses how we need to be active and outside to have a legendary life. We also talk about how to “embrace discomfort to reclaim ourselves”, and why being hungry is legendary.

The Comfort Crisis

Michael Easter shares how much more comfortable we are living right now compared to before. You don’t even have to go too far to compare; most of our modern-day comforts didn’t even exist a couple of decades ago.

According to Michael, the main issue with all this comfort is that nowadays, getting something you need takes little to no effort. This means have to move around less and being less active. This can lead not only to physical degradation, but mental health problems over time.

“We are moving about 14 times less than our ancestors. We spend 95 percent of our time indoors, and spend 11 hours and 6 minutes a day engaging with digital media. So we went from never having these digital media in our lives to now it’s essentially become our lives. And that’s had consequences for our attention, or awareness, how we spend our time and also our interactions with others. Things have really changed, and we’re too comfortable now.” – Michael Easter

Changing The Perspective

One of the things Michael wants to point out is that we tend to take for granted how good we have it nowadays because we are constantly surrounded by convenience and comfort. We can’t really appreciate them unless there were periods of struggle or challenges to acquire them.

It’s like going to your favorite restaurant almost every day compared to only going after a long and tiring business trip. You tend to appreciate it more compared to when you are having the same thing almost every day.

“We don’t have these moments that push back and are essential. Essentially, what are First World Problems anymore? So I think getting yourself out of your comfort zone in a variety of ways can do that, and give you a little more perspective on your life.” – Michael Easter

 

Challenge Yourself

Michael talks about how children are raised differently nowadays. Some parents only let their children do what they think is best, rather than letting the children experience it themselves. This often leads to mental health issues when they go out into the world. They can’t cope with the daily struggles and challenges because they weren’t allowed to experience them beforehand.

Michael explains this concept as toughening. He adds that it is important that we insert real challenges in our lives from time to time. Not only as we are growing up, but even as adults.

“In the book I talked about, there’s a guy whose name is Marcus Eliot, and he’s sort of the foremost sports scientist in the world. He does this concept that he calls Misogi, where once a year, they choose one challenging, truly epic task. The only rules are that it has to be really hard, meaning that you have a 50% chance of finishing it, and number two, you can’t die. These are things that are truly out of their comfort zones and so challenging for them. But they learn something about themselves by getting put into position where “Damn, I really want to quit”, and “this is awful”. When he does this with athletes, those athletes can carry that mindset into the games they play.” – Michael Easter

To learn more about Michael Easter and how stepping out of your comfort zone can be legendary, download and listen to this episode.

Bio

Michael Easter is a leading voice on how humans can integrate modern science and evolutionary wisdom for improved health, meaning, and performance in life and at work. He travels the globe to embed himself with brilliant but often overlooked scientists, thinkers, and people living at the extremes and shares the best of his findings and experiences in books, articles, and other media.

Michael’s investigations have taken him into ancient monasteries in Bhutan, US Special Forces training grounds, high-tech genetic labs in Iceland, Fortune-500 boardrooms, the world’s most remote wilderness areas, and more.

His work shows science has many answers. But it also shows that many aspects of the human experience and living well cannot be measured. To that end his work often combines the best of the statistical and mystical. It melds topics ranging from medicine and anthropology to theology and philosophy, along with case studies of everyday people doing extraordinary things.

Michael’s work has appeared in over 60 countries and has been endorsed by some of the world’s largest magazines, past directors of the CIA and Navy SEALs, gold medal-winning Olympians, leading physicians, Pulitzer Prize-winning authors, Buddhist and environmental leaders, and more.

He is the author of The Comfort Crisis. You can also find his writing in Men’s Health, where he’s a contributing editor, and Outside, Men’s Journal, Cosmopolitan, Vice, Esquire, Scientific American, Women’s Health, and more. He also shares his thoughts on a Medium feed.

When he’s not on the ground reporting, Michael is a professor at UNLV. He co-founded and co-directs of the Public Communications Institute, a think tank at the University of Nevada Las Vegas (UNLV). It conducts science communications research and helps public and private organizations adapt complex messaging to mass audiences.

He’s spoken to or consulted for various top-tier universities, medical schools, Fortune-500 companies, government agencies, and some of the country’s largest nonprofits.

Links

Connect with Michael! 

Website: EasterMichael.com

Twitter: @Michael_Easter

Instagram: @Michael_Easter

Get a copy of “The Comfort Crisis” today: Amazon.com/Comfort-Crisis

Related Articles:

Are Children in Tune with the Nature Pyramid? by NationalParks.UK

Stress & Mental Health Crisis by The American Psychological Association

We hope you enjoyed this episode of Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on FacebookTwitterInstagram, and subscribe on iTunes!

109 Want To Do Legendary Marketing? Do The Opposite

LOM_Episodes-109 do the opposite

In this episode of Lochhead on Marketing, let’s talk about how to stand out. In many ways, if you want to do legendary marketing, you need to do what the opposite of what most people do.

Doing the Opposite

As part of the mega category people refer to as Creators, there was something that we’ve noticed:

People spend a lot of time telling other people how awesome they are.

When you start looking at creator marketing, what you’ll see is a lot of creators just touting their best achievements and how great they are. Ergo, you should consume the content they create so you can share in his glory, or something.

So what did we do? First of all, we do very little paid advertising. Recently, our friends at Podcast Magazine ran their annual edition that has a directory of all the top podcasts. What we did was buy a full-page ad in it. Though rather than your usual positive reviews and highlights, we ran it featuring negative reviews.

“We ran an ad featuring negative reviews: “Off-putting to some” from The Economist and The Fall. “Annoying host uses profanity needlessly”, and “Very disappointing”. So imagine a photo of myself with those big headlines next to me.” – Christopher Lochhead

 

Follow Your Different

You might be asking: Why do this?

John Bielenberg talks about how he’s always looking for the dog with the red hat. In other words, he’s looking for ways in order to stand out.

At a time where people are bombarded with information from all sides, people have learned to tune things out. So if they see something that’s pretty much the same as any other information they’ve seen before, they pay less attention to it.

Yet if something different suddenly comes along, say a dog with a red hat, you’d immediately notice it. Because it’s new and it’s not something you see every day.

So I would encourage people to do the opposite of everyone else and stand out amongst the crowd.

“In our case here with this ad, the creator industry is stuffed with what I would call self-congratulatory influencers and hustle porn stars. They are all very busy breaking their arms, patting themselves on the back. So we said, what’s the opposite? Well, the opposite is running an ad with negative reviews in it.” – Christopher Lochhead

 

Things that Drive Us

If you’re not convinced or still wondering why we did all this, here are seven key things that were driving us… sort of.

  1. It was Funny
  2. It’s Different
  3. It’s Provocative
  4. This is a first in #podcasting
  5. Category designers force a choice, not a comparison
  6. Knowing who is NOT your customer, is more important than know who IS your customer
  7. I want to empower all creators to say “fuck the haters!”

We share that story with you to encourage you to think in broad and unconventional ways before you’re going to take on any marketing or advertising.

Ask yourself: “what’s the opposite of what everyone else would do here? What’s provocative? What’s funny?”  You ask yourself, “what is everybody in our industry doing? What is the exact opposite of that?”

You don’t have to do exactly the opposite. Just map it out and see what others are not doing, and eventually new ideas will probably emerge. As you’re looking for those new ideas, start with what’s the opposite. Do what John Bielenberg suggests, and go find your dog with a red hat.

Bio

Christopher Lochhead is a #1 Apple podcaster and #1 Amazon bestselling co-author of books: Niche Down and Play Bigger.

He has been an advisor to over 50 venture-backed startups; a former three-time Silicon Valley public company CMO and an entrepreneur.

Furthermore, he has been called “one of the best minds in marketing” by The Marketing Journal, a “Human Exclamation Point” by Fast Company, a “quasar” by NBA legend Bill Walton and “off-putting to some” by The Economist.

In addition, he served as a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard acquired the company in 2006, for $4.5 billion.

He also co-founded the marketing consulting firm LOCHHEAD; the founding CMO of Internet consulting firm Scient, and served as head of marketing at the CRM software firm Vantive.

We hope you enjoyed this episode of Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on Apple Podcast! You may also subscribe to his newsletter, The Difference, for some amazing content.

215 How To Be A Mission-Driven Entrepreneur with Sylvie Leotin, Founder/CEO of Equify Health

FYD - Episode 215 Sylvie Leotin

As children, most of us had a wide range of interests, ideas, and dreams. We all wanted to do and be a lot of things. Though somehow, Life can beat us up.

Sylvie Leotin grew up pursuing those interests and dreams. She did ballet, became a visiting scholar at Stanford’s Artificial Intelligence Laboratory, and now a Healthcare Entrepreneur. Sylvie also has a deep background in engineering, robotics, artificial intelligence, as well as product marketing and management. She is also a cancer survivor.  

As a woman of color who have dealt with cancer, Sylvie has had a front row seat to the racial injustice faced by minorities in the American Healthcare System. So like other legendary missionary entrepreneurs, Sylvie decided to do something about it. She founded a company called Equify Health, and is on a mission to “elevate the experience and outcomes of patients of color in healthcare and medical research”.

In this episode of Follow Your Different, we have a very real, very deep, and personal conversation with Sylvie Leotin about empathy, survival, entrepreneurship, and many more.

Sylvie’s Mission

As someone who has navigated through the American Healthcare System, Sylvie Leotin knew the hardships that a person of color goes through to get proper healthcare. So when the COVID pandemic started, she started looking into reports on mortality rates and such.

What she found was heart-breaking. She learned that people of color were dying at higher rates. Upon digging further, she observed that it was not just for COVID or cancer-related ones, but every serious chronic illness.

“As a cancer survivor and someone that got a second chance to live, I felt really deeply distraught. I really felt that this is unfair. It really shouldn’t be your race, your ethnicity, that is dictating that you have a right to health. So I started to do some research to look into this more deeply.” – Sylvie Leotin

 Using Her Setbacks as Motivation

When asked why she felt deeply connected to this cause, Sylvie shares that it was probably because she battled cancer and experienced these healthcare issues herself.

While she would still be distraught and concerned about these issues regardless, she feels that she wouldn’t be doing all she is doing right now had she not had cancer.

“I think cancer took me close to mortality, close to being hopeless, close to feeling the biggest pain that I have ever felt in my life. And I really understood what it’s like to be so sick, that you can die of the sickness. I don’t think I would’ve understood if I just knew people, or even my family who died of cancer. I think cancer really opened up this huge well of compassion inside me, for the suffering of people in the world, but even more specially for the suffering of people that are affected by life threatening illnesses. And if there is anything I can do to help change that and make some people less hopeless, it will be a life worth living.” – Sylvie Leotin

Mission-Driven Entrepreneurship

Sylvie talks about how she had the insight on her current mission. As a designer, she can see the things that were poorly designed in the system as she experienced things firsthand. If she can relate it to healthcare providers, it can make a difference for future patients.

The opportunity to turn her pain and experience into easing the experience for other people felt transformative for her.

While it started as something to improve other cancer patient’s experience, it soon expanded to other serious illnesses as Sylvie saw more of the disparity and how Equify Health can help those in need.

“I have witnessed so my first experience was more altruistic. But it was very visceral to go to treatment every day. While I was in the waiting room for a long time, and I was very distraught by the fact that I went to one of the top five cancer centers in the country. I didn’t see a single Black patient during my entire treatment, and I knew that this hospital is located less than three miles away from a very large black community.” – Sylvie Leotin

Sylvie knew that she not only has to point out these disparities to healthcare providers, but also offer ideas and solutions to help POC and minorities who are often overlooked.

To hear more from Sylvie Leotin, Equify Health and her mission-driven style of entrepreneurship, download and listen to this episode.

Bio

Sylvie Leotin is an entrepreneur, writer, speaker, consultant, and polymath.

She’s the founder/CEO of Equify Health. Equify Health is on a mission to elevate the experience and outcomes of patients of color in healthcare and medical research.

A gold-medal ballerina and computer scientist, she combines a unique breadth and depth of expertise, with a keen eye for connecting the dots between disciplines, thoughts, people and ideas.

Sylvie’s multifaceted career path crosses industries, continents, and boundaries. Transitioning from ballet to robotics, she made her way from France to Silicon Valley.

She was also a visiting scholar at Stanford Artificial Intelligence Laboratory, and has worked in a wide range of engineering, product and marketing roles at Oracle, Sun Microsystems and startup companies.

Driven by a lifelong thirst to understand the human mind, she is also passionate of literature, philosophy, and psychology.

As a consultant and facilitator, Sylvie combines her rich multidisciplinary knowledge, and holistic system thinking skills to help companies find unexpected insight and growth opportunities. 

Passionate about empowering human potential, she developed a innovational framework to help companies uncover unrealized levers to increase customer and employee wellbeing and success. She teaches creative workshops on customer and patient experience design.

A skillful writer, her articles have been published in business, technology, and literary publications.

Sylvie holds a Masters of Science in Engineering Economics Systems from Stanford University, a Masters of Science in Computer Science from ENSIIE, and a gold medal in ballet from France’s National Conservatory.

Links

Website:

Sylvie Leotin

Equify Health

Follow Sylvie at Twitter:

@SLeotin

@EquifyHealth

We hope you enjoyed this episode of Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on FacebookTwitterInstagram, and subscribe on iTunes!

108 Advice for 30 Year Old Marketers

108 LOM Advice for 30 year old marketers

In this episode of Lochhead on Marketing, let us talk about some advice for 30 year old marketers.

I have been asked this question a bunch of times, so I just put together my response as a LinkedIn post. A lot of people though it was a great list, so I thought I’d share it with you.

Making the List

As said earlier, this list was originally a LinkedIn post, and it’s a list of practical advice for 30 year old marketers. There were some who asked if it was in a certain order, and one outright challenged me to do so.

I did not want to do that because I wanted to present them as ideas. Because what might be important for me might not be for others.

Sure enough in the comments, different things on the list resonated with different people.

Though there is an argument to be made about creating lists in certain order, so as to elicit something close to a call to action.

“It seems we live in a world of prescriptions, where people want to do lists and more and more inane sort of business and marketing advice. You know, the seven things Elon Musk does before breakfast. And we’ve gotten to a place where a lot of content about business, about self-help, about marketing is very pablumatic and sort of at a prescription level, do this, do that, etc.” – Christopher Lochhead

While we do create prescription type articles, mostly on what you should and shouldn’t do, that’s not how we work most of the time. Our job is to give people ideas, and with those ideas, they can come up with different combinations or new ways to approach things. We feel that having something close to a to-do list hinders that process.

The Advice for 30 Year Old Marketers

That said, here’s the list of Advice for 30 Year Old Marketers, in no particular order:

  • Do legendary work
  • Position yourself or be positioned
  • You’re not too young to be a CMO, or start a company
  • Stop giving a shit about what other people think of you, it’s a trap
  • Thinking about thinking is the most important thinking
  • Most marketers have been recruited into the cult of the brand
  • Categories make brands, not the other way around
  • Marketers who create new demand, are most in demand
  • They are called category designers
  • Nobody legendary is working on their “personal brand”
  • The most influential people in the world are not “influencers”
  • Only work on legendary teams
  • If your company is not going to be a category queen, quit
  • Be very careful who’s content you consume
  • 90% of what we get taught about marketing is BS
  • Learn to write
  • Make friends with other Superstar 30 year old’s
  • One day, you might rule the world together
  • It goes by fast, soak up every second

Bio

Christopher Lochhead is a #1 Apple podcaster and #1 Amazon bestselling co-author of books: Niche Down and Play Bigger.

He has been an advisor to over 50 venture-backed startups; a former three-time Silicon Valley public company CMO and an entrepreneur.

Furthermore, he has been called “one of the best minds in marketing” by The Marketing Journal, a “Human Exclamation Point” by Fast Company, a “quasar” by NBA legend Bill Walton and “off-putting to some” by The Economist.

In addition, he served as a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard acquired the company in 2006, for $4.5 billion.

He also co-founded the marketing consulting firm LOCHHEAD; the founding CMO of Internet consulting firm Scient, and served as head of marketing at the CRM software firm Vantive.

We hope you enjoyed this episode of Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on Apple Podcast! You may also subscribe to his newsletter, The Difference, for some amazing content.