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Posts Tagged ‘Category Design’

015 Product-Market Fit Is A Dangerous Idea

Product Market Fit Is A Dangerous Idea

In most industries, product-market fit is an unquestioned gospel, even in Silicon Valley. On the contrary, Christopher believes that product-market fit is a dangerous idea. Why? Because legendary marketers create and design their own category, as opposed to competing in an existing category.

Product-Market Fit

In the tech startup world, achieving product-market fit is often considered a major milestone. However, Christopher argues that product-market fit is one of the most dangerous ideas in business today.

“The problem with product-market fit is that language can trick marketers into thinking that what you’re doing is building a product and you’re trying to fit it in a market.” – Christopher Lochhead

Legendary creators are not looking to “fit” into a market, instead, they want to stand out. Standing out means to design their own market category.

Category King and Queens

Christopher cites some of the category kings and queens of today. Think about Jeff Bezos, he is equated with the term eCommerce, just as we equate Pablo Picasso with Cubism. We also have Sara Blakely of Spanx, who created her own category of Shapeware, not just trying to fit into the girdle category.

“Think about the most respected entrepreneurs, creators, and innovators. a huge part of why we all respect them is because they broke or took new ground.” – Christopher Lochhead

Some other great examples are AirBNB, which presented a new idea and experience for tourists and travelers. Another one is Evian, who deviated from the idea that water is free. Red Bull also dominated their energy drink category, as opposed to hydration drinks, where Gatorade was category king.

 “The greatest innovators teach the world to think differently. With a fresh idea, a new take on an old problem or by solving a problem we didn’t even know we had.” – Christopher Lochhead

Where the Challenge Lies

The challenge of product-market fit is, it can trap inventors and creators into thinking that they can test their product and service to people and f they consume it, they equate it to the future success of the product. If these people do not consume the product intuitively, then they can just go back and work on the product.

This is in opposition to Henry Ford’s mindset who said: “If I had asked people what they wanted, they would have said faster horses.” Moreover, even Steve Jobs has the same ideas on product-market fit, saying “customers don’t know what they want until we’ve shown them.”

“The big ah-ha here is that there is a massive distinction between fitting into an existing market category and competing versus creating your own new market category.” – Christopher Lochhead

To hear more about why Product-Market Fit Is A Dangerous Idea and more relevant information from Christopher Lochhead, download and listen to the episode.

Bio:

Christopher Lochhead is a Top 25 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; was the founding CMO of Internet consulting firm Scient, and served as head of marketing at the CRM software firm Vantive.

Links:

Quora: How do you define Product-Market Fit?

Lochhead.com

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 iTunes!

103 The Power of an IPO w/ Eric Yuan, Founder of Zoom Communications

103 The Power of an IPO w/ Eric Yuan, Founder of Zoom Communications

This is the first in a special two-part series featuring two CEO’s of two recent multi-billion IPOs—Jennifer Tejada, CEO of Pager Duty and billionaire, founder and CEO of Zoom Communications, the amazing Eric Yuan.

Today’s episode features an insightful conversation about how Eric feels like to have a super successful IPO. Eric further shares Zoom’s culture centered on happiness and his motivation, mission and vision for Zoom and much more.

Culture of Happiness

Eric Yuan guested at Christopher’s previous podcast, Legends and Losers Episode 032. As of recording time, Zoom Communications raised $357M in IPO and is a $20+ billion market cap company.

“When I wake up, the first person I ask is myself. Do I feel happy or not? I encourage our employees to ask the same questions. Ultimately, if our employee is not happy, I’m pretty sure they cannot give happiness to our customers. That’s why we keep the happiness culture here.” – Eric Yuan

Christopher cited some amazing data from GlassDoor. Employees rated Zoom 4.8, 5 being the highest. On the question “would you recommend Zoom to a friend, as a great place to work,” 95% said yes. Lastly, on CEO approval, 97% of the respondents said they approve of the way Eric runs the business.

“I think based on that, I should focus on the 3% and plus the 5% why they do not recommend us too. Again, we always like all those feedback to help us become a better company.” – Eric Yuan

Zoom: The Game Changer

Christopher admires how Eric runs his company and how he epitomizes everything great about entrepreneurship, technology, and innovation. He has changed the game in the B2B space in North American and now, internationally. As Christopher says, Zoom has made impossible, possible, such as the ability to work from home and collaborate with the team in different countries.

“I truly feel we just started. We look at our user base and our customer base, compared to the number of knowledge workers worldwide, I think we just started. A huge opportunity ahead of us. How to connect workers worldwide, if you look at the total market, it’s also huge. Look at our revenue, we just started.” – Eric Yuan

Vision and Mission for Zoom

In the next 5 years, Eric candidly shares that he visualizes Zoom to give people a whole new experience in meeting and communicating, even aiming to replace the whole face to face meeting.

“We truly believe data communication is the future, video is the new voice. In the future, no matter where you are, no matter which device you are using, just one click, you can talk with anyone in the world. You can speak on your language and understand with real-time translation.” – Eric Yuan 

Christopher also discusses with Eric the amazing marketing strategies that they employ, especially the huge advertisements in major airports in the US.

“They should leverage our technology. Since it’s good for the family and good for society as well. Our goal is to make sure our existing customer is happy. Whenever they travel, [we remind them] you already have Zoom, why do you travel often?” – Eric Yuan

To hear more about The Power of an IPO, and to learn more information about Eric Yuan, Founder of Zoom Communications, download and listen to the episode.

Bio:

Prior to founding Zoom, Eric was corporate vice president of engineering at Cisco, where he was responsible for Cisco’s collaboration software development. Eric was one of the founding engineers and vice president of engineering at Webex. Between 1997 and 2011, he grew his team from 10 engineers to more than 800 worldwide and contributed to revenue growth from $0 to more than $800M.

In 2017, Eric was added to the Business Insider list of the 52 Most Powerful People in Enterprise Tech. In 2018, he was named the #1 CEO of a large US company by Glassdoor and EY Entrepreneur of the Year in Northern California (software category). Eric is a named inventor on 11 issued and 20 pending patents in real-time collaboration.

Eric earned a certification from the Stanford University Executive Program.

Links:

LinkedIn: Eric Yuan

Zoom US

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

012 Category Creation Economics 101

012 Category Creation Economics 101

In this episode, Christopher Lochhead talks about the powerful, surprising winner-take-all realities of categories and why you want to be the category queen/king in your market. Christopher layout facts and data on category creation economics that you’ll find beneficial for your business, whether you’re in the tech industry or not.

Winner Takes All

In Christopher’s first book Play Bigger, they wrote about a research project they conducted on thousands of tech start-ups from 2000 to 2015, determining the market cap or valuation. Specifically, they wanted to know the percentage of the total value goes to the leader or category queen. In reality, one company gets 2/3 for the entire market category.

“The study shows that category queens earned 76 percent of the market capitalization of their entire market categories.” – Christopher Lochhead

Christopher’s good friend, Bob Evans said: “every company is a software company.” Tech company dynamics are now applicable to non-tech companies.

VCs “Me Too Strategy”

Christopher quoted a portion from his book Play Bigger. VCs oftentimes fall for the Me Too strategy where every firm would invest in some company in an emerging category, thinking it will succeed just like the first one who did.

“In Silicon Valley, we’ve watched venture capitalists (VCs) increasingly adopt a category king investment philosophy. Paul Martino of Bullpen Capital notes that VCs used to have a “me-too” strategy.  If a start-up hit it big and opened up a hot new category, the many VC firms in Silicon Valley assumed that there was room for a lot of winners in that category.” – Christopher Lochhead, Play Bigger

Furthermore, Paul Martino tells us “it’s now apparent that one company wins big and dominates a healthy c0ategory, and the rest struggle, get acquired or perish. That means that as soon as one company appears to be the category king, the smart money competes to invest in that company, bidding up its value.”

Category Creation is the Ultimate Strategy

Christopher’s friend and category guru to Fortune 500 companies Eddie Yoon wrote for Harvard Business Review on the financial impacts of category creation.

He reported that “top 20 firms in Fortune‘s 2010 list of fastest-growing companies received $3.40 in incremental market capitalization for every $1.00 of revenue growth. Half the top 20 companies grew via category creation. Wall Street exponentially rewards the category creation companies, giving them $5.60 in incremental market capitalization for $1.00 in revenue growth.”

“No matter how you want to look at it, the bottom line is category kings take the vast majority of economics and are massively rewarded for becoming the category queen of the space.” – Christopher Lochhead

To hear more about the category creation economics 101 and more relevant information from Christopher Lochhead, download and listen to the episode.

Bio:

Christopher advised over 50 venture-backed startups. He is a Venture Capital Limited Partner and a former three-time Silicon Valley public company CMO, entrepreneur. In addition, he co-authored two bestsellers: Niche Down and Play Bigger.

After he flunked school, with few other options, Christopher started his first company at the age of 18.

He was a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard, in 2006, acquired that company for $4.5 billion.

Further, he also co-founded the marketing consulting firm LOCHHEAD. Christopher was the founder/CMO of Internet consulting firm Scient. He also served as head of marketing at the CRM software firm Vantive.

Christopher loves his family and friends. He thinks the Ramones are legendary and loves riding the mountains and waves of Northern California.

Links:

Book: Play Bigger

Category Creation Is the Ultimate Growth Strategy

Fortune‘s 2010 list of fastest-growing companies

Lochhead.com

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 iTunes!

099 Persuasion w/ Lee Hartley Carter

099 Persuasion w/ Lee Hartley Carter

Languaging Master Lee Hartley Carter joins us today for a riveting conversation about the power of language and the art of persuasion. She discusses today how language shapes everything in our lives and how to use language to convince people when facts don’t seem to matter.

Marketers and non-marketers will surely learn a ton from this conversation about communications, language strategy, and persuasion.

The Power of Language

Lee candidly shares with Christopher that she never thought about a job opportunity which involves words and messaging. When she was younger, she considers herself as obsessed with words.

For her, language is the means in which people can connect with other human beings and convey thoughts, feelings, and perspectives. Language is a powerful tool with every word, having its own meaning.

“That change in language changes thinking, which ultimately change social beliefs and norms and potentially laws and governance approaches. It can change a lot of things.” –  – Lee Hartley Carter

Language Strategy in Marketing

Lee further cites examples of how the smallest change in language can have a huge impact. She cited differences in words such as estate tax/death tax, or global warming/climate change, or used vehicles/pre-owned vehicles. A simple change of words can reshape how people think about the message.

Lee also shared the common mistake marketers make in conveying a message. Oftentimes, marketers tend to “speak louder” — to share more facts to try and get the point across. This doesn’t end well, as people get turned off with the over-communication.

“Instead, what you need to do is to not speak louder but speak smarter. The way that speaks smarter is by slowing down and really saying ‘you know what, this isn’t about what I want to say. This is about what they need to hear.’” – Lee Hartley Carter

Crisis Communications

In an interesting turn of the conversation, Lee and Christopher discussed crisis response. Lee laid out her step by step advice on companies facing a crisis. First, she says that freaking out is a natural response to a crisis. However, she noted that it’s important to understand what your target audience is thinking or is feeling at that moment.

“Who are you trying to convince right now that you’re okay, is it your shareholders? is it your customers? What are they afraid of right now? What value have you just betrayed in them?” – Lee Hartley Carter

They had a great dialogue on crafting emergency messages as Christopher had his own fair share of stories to tell, with regards to crisis communications and response.

To hear more about Persuasion and more relevant information about Lee Hartley Carter, download and listen to the episode.

Bio:

After a crushing loss in a student council race in the 6th grade, Lee learned the importance of getting the story right from the beginning.

In the 7th grade, when she ran again, she ran on a story that was driven by some middle school polling techniques she employed among her classmates.

And, she won.

Ever since she has had a passion for language. For the message. For the story.

And she brings this passion to her role as partner at m+p, a research-driven language strategy firm that specializes in finding the right language and messages based on one simple idea: it’s not what you say that matters, it’s what they hear.

A member of the executive leadership team, Lee oversees a diverse range of language strategy work for Fortune 500 companies and non-profits in the U.S. and abroad.

To do this, Lee has conducted, overseen, and analyzed countless instant response sessions, traditional focus groups, brainstorming and strategy sessions. and surveys in more than 15 countries.

She has worked with clients in a wide range of industries including financial services, energy, automotive, sustainability, hospitality services, food and beverage, technology, and consumer products.

And, she has worked extensively in public affairs, public policy, and issue advocacy.

Before joining Maslansky + Partners, Lee spent more than ten years in marketing and strategic communications.

And, like many of her colleagues at m+p got her start in politics advocating for teaching hospitals, graduate medical education, the use of bicycle helmets, and healthcare for those who couldn’t afford it.

Lee serves as a member of the National Head Start Association advisory board focusing on messaging, is a fellow of the National Committee on US-China Relations Young Leadership Forum, and an occasional contributor to Fox News and MSNBC.

Links:

Maslansky + Partners Website

Twitter: @lh_carter

Book: Persuasion

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!

011 The Perception of Your Product is Your Product

011 The Perception of Your Product is Your Product

In this episode. Christopher Lochhead talks about what your real product or real service is. He discusses why product development and marketing should team because the perception of your product is your product.

Marketing Defined

One CEO, who is also a good friend of Christopher, once stated that “Marketing is what you do when you have a shitty product.” He was telling Christopher about their competitor who had a significantly inferior product but is, at that time, out-marketing them. Additionally, quite a lot of people in Silicon Valley also think this way.

Wikipedia defines marketing and product as such: “In marketing, a product is an object or system made available for consumer use; it is everything that can be offered to a market to satisfy the desire or need of a customer.”

“I actually don’t want to disagree with Wikipedia, but I do want to propose a different perspective. Your real product, your real service, is people’s perception of your product and service.” – Christopher Lochhead

The People’s Perception of Your Products

Christopher asserts that your product and service is not your product, but what people say it is, think it is and feel about it. He thinks that what other people say about the product or the service, is the truth, regardless if we think of it as true or not.

He cites examples such as Harley Davidson and Jack Daniels. These brands may not be the most efficient in performance or the most premium whiskey available, but they have made a mark in the minds and the hearts of consumers. In fact, they are considered category kings.

However, Christopher also cited instances when people’s perceptions of product change, such as that of Facebook and Boeing 737 MAX. They can fix their products but the perceptions will take forever to change.

The “Perception Manufacturing Business”

Christopher believes that we are in the “perception manufacturing business.” Further, he mentions that not only does the perception of the product more important than the product itself, but it is also actually what the developer is building when he builds and market the products.

“You don’t make products, you make perceptions about products. That is why legendary marketing is equally important to building legendary products.” – Christopher Lochhead

In conclusion, Christopher says that product engineering, product development, and marketing need to come together. They must realize that they are in the “perception manufacturing business.”

“It is ludicrous to say marketing is what you do when you have a shitty product. Marketing is what you do when you have a legendary product and you want people to perceive it as such.” – Christopher Lochhead

To hear more about the Perception of Your Product is Your Product and more relevant information from Christopher Lochhead, download and listen to the episode.

Bio:

Christopher advised over 50 venture-backed startups. He is a venture capital limited partner and a former three-time Silicon Valley public company CMO, entrepreneur. In addition, he co-authored two bestsellers: Niche Down and Play Bigger.

After he flunked school, with few other options, Christopher started his first company at the age of 18.

He was a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard, in 2006, acquired that company for $4.5 billion.

Further, he also co-founded the marketing consulting firm LOCHHEAD. Christopher was the founder/CMO of Internet consulting firm Scient. He also served as head of marketing at the CRM software firm Vantive.

Christopher loves his family and friends. He thinks the Ramones are legendary and loves riding the mountains and waves of Northern California.

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 iTunes!

095 #1 Tech Startup In Africa w/ Matt Brown

095 #1 Tech Startup In Africa w/ Matt Brown

Entrepreneur, CEO, and top podcaster Matt Brown joins us today for another no-BS conversation about being a Techpreneur in South Africa. He gives us a glimpse of the South African Tech scene, as well as his successes, as he was voted as #1 Tech startup in Africa in London Tech Week. Matt gives practical insights on business and life design as well.

#1 Tech Startup

Matt Brown, a very down to earth guy, recounts to Christopher his experience at London Tech Week, as organizers named him the #1 Tech Startup in Africa. Although he admits he now has unnecessary pressure due to the title, he claims it was a great opportunity for international development in the technology space.

“It was pretty insane when a government like the UK gets behind an idea. So what they have done is, they mobilized literally billions of pounds just for Africa Tech, 1.2 Billion pounds available for distribution.” – Matt Brown

The Storytelling Technology

Matt runs a firm called Digital Kung Fu and he candidly shares with Christopher his elevator pitch “we’re the world’s fastest tech story production business.” He further shares that Christopher’s books Play Bigger and Niche Down inspired him in this business.

“The truth is were evangelizing this idea — which I totally started from your thinking by the way — category design thinking and creating a point of view that is unique and different.”  – Matt Brown

He further shares that through his firm, they are connecting that point-of-view at scale to a market a way that it creates value. In his case, it is the storytelling technology.

“It’s about taking proven powers of storytelling and marrying that with technology — data, automation, AI — and delivering stories essentially at a scale that makes very complicated things in ways that are memorable and relatable and understandable.” – Matt Brown

The South African Tech Scene

Matt also talks about the South African tech scene, as other countries do not exactly know what is happening locally. He shares about the different challenges and opportunities they have there and the similarities in terms of trends.

“I think Africa has some unique challenges. We have infrastructure challenges, connectivity challenges, bandwidth challenges, and these things don’t typically exist in developed markets.”  – Matt Brown

Amidst these challenges, Matt shares how these forces techpreneurs to innovate, especially in the mobile phones market.

“African tech has got a bad name in many respects. Basically at a type of expansion into emerging markets, it’s less competitive in many respects. But, the economic opportunities are huge because there is no competition.” – Matt Brown

Bio:

Matt is the CEO of Digital Kungfu. It was named as “Best Tech Startup 2019 – Africa Tech Week Awards.” The company is a lead generation and storytelling production company purpose-built for technology businesses.

Links:

Podcast – The Matt Brown Show

Digital Kung Fu

Book – Your Inner Game

The Matt Brown Show in partnership with London Tech Week creates State of X Season One on Prime

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

094 How We Make Stuff Now w/ Jules Pieri

094 How We Make Stuff Now w/Jules Pieri

Today’s episode features a highly informative discussion between our host, Christopher Lochhead and Jules Pieri. She’s the first designer to graduate from Harvard Business School. She shares some amazing lessons on how to create legendary new products and how to make sure those products succeed in the world.

Industrial Designer Turned Legendary Marketer

Fortune named Jules as one of the Most Powerful Women Entrepreneurs.” She is the Co-Founder and CEO of the product launch platform The Grommet.

Jules shares that before she formed the company, she observed the huge shifts in technology ⁠— specifically the internet, like the development of 3D printing. 3D printing enabled a huge new class of entrepreneurs with physical products.

“Creative people have access to inexpensive tools, they will use that. Physical products are less abstract than software, so they’re gonna inspire more people to participate.” – Jules Pieri 

What We Can Learn From Squatty Potty

Jules shares with Christopher the story behind the product Squatty Potty ⁠— a stool that raises the leg of the user during elimination. Christopher labeled the product as legendary because it created a new need for consumers. 

Jules admitted that it is often quite a challenge whenever they start a new category. She pointed out the importance for companies to be as bold as possible when launching a new product.

“They hired a great agency to get the ads done and they had more vision and courage than most companies tend to have at the early stages. That’s a super insecure stage of a company and they paid large money. Your reputation is aligned with these ads.” – Jules Pieri 

Category Creation Is a Must

Jules remarked about the importance of category creation. She believes that it is very hard to cut through in a crowded world. She added that through The Grommet, they can create categories that enable them to study product searches of users. 

“Category search, ‘cause names are not usually as memorable as descriptions.” – Jules Pieri

Christopher and Jules discussed more about Legendary Marketing, the differences between creating demand and capturing a demand. They also touch base on to have an invention and bring it to the world in a way that it would be connected, unique and distinct. 

Jules also shares some important parts of her great, new book out called How We Make Stuff Now.

Bio:

Jules Pieri is Co-Founder and CEO of the product launch platform The Grommet. 

The company’s Citizen Commerce™ movement is reshaping how consumer products get discovered, shared, and bought. 

Jules started her career as an industrial designer for technology companies and was subsequently a senior executive for large brands, such as Keds, Stride Rite, and Playskool. 

The Grommet is her third startup, following roles as VP at Design Continuum and President of Ziggs.com. 

She completed her undergraduate degree at the University of Michigan and people tell her she is the first designer to graduate from Harvard Business School, where she is currently an Entrepreneur in Residence. 

Fortune named Jules as one fo the “Most Powerful Women Entrepreneurs” in 2013. 

In June 2014, White House Maker Faire invited Jules to launch The Grommet Wholesale Platform, connecting Makers with Main Street Retailers. 

Links:

Blog: The Grommet 

Twitter: @julespieri

Instagram: @julespieri

CEO Unplugged Column – Inc.

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

091 Crowd Funding For Good w/ DonorsChoose.org’s Charles Best & Oliver Hurst-Hiller

091 Crowd Funding For Good w/ DonorsChoose.org’s Charles Best & Oliver Hurst-Hiller

Today’s inspiring guests are from DonorsChoose.org, CEO and Founder Charles Best and entrepreneur Oliver Hurst-Hiller. These two, together with a small group of people, came together and made our world a different place, through crowdfunding.

DonorsChoose.org

Donorschoose.org is a non-profit which enables teachers who need help to go straight to the public and seek financial assistance. Charles Best, a former high school teacher turned activist founded the organization. Together with Oliver Hurst-Hiller, the Chief Technology Officer of the org, they have pioneered the category of crowdfunding. 

“I was like teachers all over the country. I was spending my own money on school supplies for my students. My colleagues are doing the same. We would talk about all the stuff we want our students to have, but we couldn’t go into our own pockets to buy.” – Charles Best

Merging Technology with Advocacy

Charles Best and Oliver Hurst-Hiller share the current education situation in the US — it is underfunded — and teachers and students need help. In the past, millionaires have been the common benefactors of organizations. Charles, however, thought about regular citizen donors and how their collective power can benefit this cause.

Regular donors will have the ability to pick, choose, donate and hear directly from the beneficiaries. All the donors — whether they donated 50 dollars or 5 million dollarngets the same appreciation, feedback, and transparency direct from their beneficiaries.

“If the internet/technology can enable a regular person giving 50 bucks to have that experience of directness, transparency, reporting and feedback, something magical might happen and 840 million dollars later, I think it has.” – Oliver Hurst-Hiller

The “Philanthropic eBay”

Stanford Business School and Amazon dubbed DonorsChoose.org as “the most innovative non-profit.” The organization is for school front-liners who have an idea or project and is seeking microloans to fund it. The organization connects them to patrons and philanthropists. 

“The first news story about our site compared us to a philanthropic eBay. That’s the only parallel that they could draw at that time  — with its two-sided marketplace and people connecting.” – Charles Best 

Charles Best and Oliver Hurst-Hiller talk more about the organization, crowdfunding. Further, they discussed more on the power-houses backing them up as board of directors. They are Stephen Colbert and LinkedIn CEO Jeff Weiner, to name a few.

To hear more about the DonorsChoose.org crowdfunding for good and more information about Charles Best and Oliver Hurst-Hiller, download and listen to the episode.

Bio:

Charles Best, Founder / CEO

Charles Best leads DonorsChoose.org, a nonprofit website that enables anyone to help a classroom in need. He launched the organization in 2000 at a Bronx public high school where he taught history for five years. To date, teachers at more than 80% of all the public schools in America have created classroom project requests on DonorsChoose.org, and more than 3 million people have given to those projects. 

DonorsChoose.org is one of Oprah Winfrey’s “ultimate favorite things.” It made the cover of Fast Company as one of the “50 Most Innovative Companies in the World.” It is the first time any charity has received such recognition.

Oliver Hurst-Hiller, Chief Technology Officer and Head of Product

Oliver is responsible for the technology and user experience that power DonorsChoose.org’s unique philanthropic marketplace. 

Prior to joining the team in 2006, Oliver managed product engineering projects for Microsoft’s new search engine, now called Bing. He helped start Microsoft Live Labs, an applied research laboratory for Internet technologies. Further, he is also the co-inventor of 22 issued U.S. patents related to Internet search technologies.

In 2011, the Microsoft Alumni Foundation honored Oliver with the Integral Fellows Award. He is the Chair of CTOs For Good and on the Advisory Council on Computing & Information Technology for Brown University.

Links:

Donor’s Choose.org

Charles Best – Linkedin

Oliver Hurst-Hiller

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

007 Category Creation is the Strategy

007 Category Creation is the New Growth Strategy

In this episode, Christopher Lochhead discusses why category creation is the new growth strategy for legendary marketing.

Great companies do not focus on incremental growth, rather, they focus on being exponentially different. These leading companies introduce people to new businesses and provide them with new ways of doing things.

Making A Different Future

Legendary companies shape our lives and design a different future. They are on a mission to make the future different. Further, these companies create something exciting ⁠— a new way of living, thinking and doing business ⁠— category creation. Through category creation, these companies are pioneering the way to the future.

“Many times they are solving a problem we didn’t know we had—or a problem we didn’t pay attention to because we never thought there was another way.” – Christopher Lochhead

These legendary companies make ordinary companies run for their lives. These ordinary companies want to profit from the world for offering it the same set of products and services.

Big Es and Small Es

Lochhead cites different big enterprises as well as small enterprises as an example. Huge companies now started as small when they changed our way of thinking. Companies such as AirBNB, Google, Amazon, Palo Alto Networks, Cisco and Salesforce not only created great products⁠—they created a good company and a great category.

“They had to courage to stand on their own to create a new category of products / services they niched down. And by designing a different niche, they got to own it.”  – Christopher Lochhead

Category First, Brands Come Second

Categories make the company, not the other way around. In relation to this, if we carefully examine big brands, there are no legendary companies in a bad category. There will be no customer-recall of brands if these brands are not tailored to cater to a category.

“Brands only matter if they dominate categories that matter. Category design is a new lens, play with it!” – Christopher Lochhead

To hear more about Category Creation as the new growth strategy and more relevant information from Christopher Lochhead, download and listen to the episode.

Bio:

Christopher Lochhead is a Top 25 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 ⁠— which was acquired by Hewlett-Packard in 2006 for $4.5 billion.

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

Link:

Lochhead.com

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 iTunes!