Just to put this out there, if you feel like I’m bouncing around everywhere from topic to topic, that’s really the point.

A) I haven’t exactly found my “groove” - the more readers and feedback we get, the better I’ll know what to talk about.

B) I think the entire point of this “blog” is that I pretty much talk about what’s on my mind that day - I have 2 major things on my mind today, the first one…

Vaporware…

I first heard this term about 3 weeks ago from our VP of Marketing who was hired just months ago. Basically, we were in the middle of launching a product/service and she goes to say: “why aren’t we selling this already?”

My answer was: “because it’s not ready!”

Her reply: “Haven’t you ever heard of vaporware”

Obviously I had not, so she went on to educate me. Once I learned about it, I thought it was a very sneaky and slick concept, almost down right deceptive if used improperly.

Honestly, I didn’t make much of it at all until I heard it AGAIN a few days ago from another major “corporate” person who is on our board of advisors. STILL, I did not think much of it - I almost felt like it’s “wrong.”

That was all over the minute I heard my very own mentor use those words saying: “We can sell it as vaporware, just so long as we know we can definitely deliver the promise…” NOW, you have my attention.

So what is vaporware? From my understanding, it’s basically a software/service/program/product that you start selling but it’s not complete! You actually make FAKE demos (maybe just screenshots or even just HTML pages that LOOK like they are coding).

Vaporware is commonly sold to companies and even INVESTORS. The whole point is that you need the money from the investors to actually build the damn thing, so you make it look like you’re a lot further along.

The more I think about it, I’m starting to think it’s a very smart concept (of course given that you KNOW you will be able to deliver otherwise it’s just deception and fraud).

The reasons are as follows:

1. You can start selling soon so revenue comes in faster.
2. You have customers to launch with from DAY 1.
3. You get money to help you invest in actually building it.
4. You get a level of interest - if there is none, you don’t have to waste time and money making it!

Our next product/service, I’m definitely going to try this concept.

Just a word of advice, yes, everyone in corporate knows about this - but still, no one wants to BUY it - so never say the word vaporware during a presentation!

Lastly… wikipedia defines this word a bit differently from what I’ve learned. But seriously, who’s word are you going to take? Mine or Wikipedia?

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First of all, sorry I haven’t blogged in the last few days. I first got invited to porsche driving school (AMAZING) and then I had to run down to a trade show for a few days.

For today’s post, I wanna talk about “the power of the team.” Here’s the thing though, today’s post probably does not directly apply to a $100 Million CEO. At that point a team is a given, but you can’t get to $100 Million without going the stages…

The Power of The Team…

This past weekend our company launched our biggest product in the last 3 years the day before the biggest trade show in our industry (where we hosted our own live event as well). The response has actually been OVERWHELMING. For the first time, I almost felt like a pseudo celebrity with people chasing our team members down just to say “THANK YOU THANK YOU THANK YOU!”

(( They’re thanking us for the free live event we put on, not the product yet ;))

A lot of people gave ME a lot of credit for the success of the live event and the success of the new product we’ve launched. Here’s the thing though - I had almost nothing to do with either one.

The live event was planned, set-up, hosted and managed entirely by my team. I simply flew in a few hours before it, grabbed a microphone and MC’d it.

The product we launched…the team has been working on it for months - not just 1 person, but multiple people each taking responsibility. All I’ve ever seen are the updates they give me and the few times they ask for my opinion or suggestions (which is rare).

As our business grows, this is the absolute first time our company has ever launched a product and I did not have a lick of stress by it (and it went smooth as can be). The even more amazing part is that the entire time I’m quietly working away on another project that we can launch soon, so you can see that things are getting better not only in terms of quality but even quantity now.

With team comes the ability to scale, grow and get your sanity back. If you’re doing everything yourself, you’re crazy and you’ll never be a $100 Million CEO.

Do this exercise:

Step 1: Make a list of everything you do during your day.
Step 2: Categorize everything (ex/ administrative, marketing, financials, support, etc…)
Step 3: Which list is the biggest?
Step 4: Time to add someone to the team to take over that category

Simple, eh?

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