BootstrapBusiness.org | How to Start A Small Business » Rewards

Zig Zagging to Success

Sharon Larsen — Sat, 03 Jan 2009 02:48:45 +0000

As we start a new year, let me quickly wrap up the highlights of the Bootstrapped story so next week we can start blogging sections of the book, as promised. I’m still a bit dazed from a turkey hangover and too much holiday candy, but I’ll do my best J

During their first year, Rich and Ron developed CastleWave in a zig zag fashion – switching their focus and channeling the business momentum towards new ideas as appropriate. Right now, one path we are pursuing is asset building (the focus in on digital assets such as websites). The approach to asset building was backwards at first, though. We started building assets around hot topics (riding a ‘wave’) such as horoscopes or cat personalities, but created the assets before figuring out how to monetize them. Note for any budding entrepreneurs: monetization is key! Great ideas are important, but until you figure out how to generate revenue, the idea isn’t going to get you very far. For CastleWave, monetization of some key assets is an ongoing process.

With all the hard work that’s gone into building the company, goals and rewards have always had a central role. In June 2008, for example, the whole office had a Day of Play. We are talking bowling, a nice pizza lunch, and laser tag (everyone got creamed by one of the high school linkers). Don’t get me wrong though – the office isn’t just about having fun – we’re serious about setting goals too. Rich literally wrote ‘$300/day’ on the linkers’ foreheads once to drive home the goal that had been set. Needless to say, that goal was reached! Out of the sheer will of the employees, one asset alone generated $600 in one day. That’s the kind of dedication and drive that’s needed if you want to survive in a small business…

I suppose the capstone on all of the work that Rich and Ron have put into CastleWave and the book happened earlier this fall when they attended a seminar at the Wizard Academy. They returned from that experience completely determined to succeed and to share their success story. As is the case with great leadership, their passion and energy have infected our office to the point that we all feel the same desire and determination for success. The past two years have been an incredible journey for our little office and the future seems all the brighter!

Please feel free to invite any of your friends or family who are interested to join the blog so they can start receiving sections of the book next week. They can sign up by going to this link: http://www.bootstrapbusiness.org/subscribes.php. Happy New Year!

Spanish Fork Seniors on the Subway

Sharon Larsen — Wed, 26 Nov 2008 01:53:41 +0000

Our office made it back safely from New York City and we had an incredible experience and learned a lot. The fast-paced atmosphere and around-the-clock action of the City initially seem overwhelmingly complex. This is particularly true when you attempt to ride the subways. Crowds of hurried people rushing and pushing past you, speeding trains in every direction, and subway operators that seem determined to crush as many individuals in the doors as possible, can intimidate even the most determined newcomer. But when you step back and take a few deep breaths, you see that there is a logic and order to the system. All that is needed to successfully arrive at your destination is a map, the ability to follow directions, and a little bit of common sense.

We experienced this first hand this weekend. Our high school seniors went from looks of horror as we approached our first ride to airs of confidence by the end of the weekend as they navigated the trains. Lo and behold, the public transportation system really isn’t that intimidating and isn’t out to get anyone (I’m almost convinced of this….). This concept is directly applicable to starting your own business. It can be scary, intimidating, and completely overwhelming with all the moving parts. However, if you breathe deeply and find a good guide, the process can be not only doable, but even enjoyable! Rich and Ron are really looking forward to helping individuals navigate through the complex system and it will be fun to watch the bootstrap seminars unfold.

Looking ahead, we’re all excited about the direction we’re heading as a company. We took the time while in New York to create our new list of goals for Q1 2009. After experiencing how fun and rewarding it is to meet goals, we are all energized to work towards our new targets. Even in the midst of all our New York excitement, we established goals that were specific and reasonable yet challenging. Our CastleWave company goals for the 1st quarter include

Launch Search Engine Express
Run 60 new clients through that program
Engage 3 large clients
$350K revenue
$250 revenue/day from website assets
Book released with online platform established

These goals may not all make sense to you, but it’s the principle that’s important. We set goals that will require us to be dedicated and focused in our work. These goals are a critical component of our ’subway map’ – they are the end points we are trying to reach as we navigate through the confusion. While these goals are achievable, success is by no means a given; we’ll all be working very hard over the next few months. We haven’t settled on an equivalent reward yet, but you can bet that we’re all brainstorming! It’s going to take a lot to beat our racing around the subways of New York!

New York, New York

Sharon Larsen — Sun, 23 Nov 2008 23:44:25 +0000

We’ve had a jam-packed weekend in New York City so far and have seen and done tons of fun things. As a reminder, our whole CastleWave office is spending the weekend in NYC as a reward for meeting our company goals this summer. Our group has had the opportunity to sample a variety of New York specialties, including Lombardi’s pizza (known as America’s first pizzeria), New York bagels, and even canolis from Little Italy. I’ll confess that I love New York-style pizza; I think it’s safe to say that everyone in our office does. And you can’t get it in the West! Or at least it never tastes as good as it does in the City.

We also saw a Broadway show, went to the top of Rockefeller Center, and walked through Battery Park – to name just a few things. And all of this on Day 1! The weather has been frigid and very windy this weekend in the City, but we braved the elements to see the sights.

One of the more memorable parts of the trip so far has been our time in the Financial District. We went to Ground Zero as a group, which was a special experience. I have been there several times and each time I feel the same sense of reverence and awe for the courage and heroism displayed on September 11th. We walked past the FDNY Ladder and Engine Co. 10, located directly across from the World Trade Center site. Company 10 lost a large portion of their crew in the attack on the Twin Towers; the memorial outside of the firehouse reads, “Dedicated to those who fell and those who carry on. May we never forget.”

And of course, since we came to New York City as an office, we had to stop by the Wall Street bull for a group shot. The Charging Bull is the symbol of an aggressive financial optimism, so naturally we were eager to pose with it.

Since I’m majoring in finance, I always love spending time in that area of New York City. The atmosphere is definitely different than when I was there last, however – a lot has changed on Wall Street in the past few months. In fact, after some contemplation, we thought this shot might be more appropriate considering the current market….

As you can tell, we’re having a great time in New York. Only one day left now, and we still have plenty to see! This has been a fantastic trip so far and a great reward for everyone’s hard work. As Rich Christiansen and Ron Porter point out in the book, team rewards, when they are special and meaningful, create a community of collaboration and mutual appreciation. Our little office has definitely experienced that this weekend.

NYC Here We Come!

Sharon Larsen — Thu, 20 Nov 2008 00:39:20 +0000

I’m going to take a short break from blogging the story behind the Bootstrapped book in order to share some fun events from our office this week. Tomorrow, the entire office is headed to New York City for a weekend trip as a reward for meeting our CastleWave company goals this summer! As a reminder of the goals we set and in order to keep everyone motivated over the past few months, we’ve had this ‘goals picture’ hanging all over the office.

The original plan was to spend the weekend in Las Vegas and go to a nice dinner and a fun show. However, Rich and Ron, after some thought, were uncomfortable with the idea of taking the office (which includes four 17 year old guys!) to what can be viewed as a questionable destination J. So in the past couple of weeks, the plan was changed to New York City, a revision no one was disappointed about! Besides the City being a fun place to visit with so much to see, we’re also excited for the New York and Utah branches of the office to spend some time together.

Our office has come a long way over the summer and accomplished some significant goals. Setting and working towards goals has helped everyone to stay focused on their tasks, knowing their hard work is being noticed and will be rewarded. It may seem unusual for a small office to be flying their entire staff to NYC, but Rich and Ron believe strongly in the concept of goals and rewards. In the book, they encourage establishing achievable but ‘stretch’ goals for all projects, identifying meaningful and fun rewards for each goal, then following through with the rewards when the goals are met. Often, the satisfaction from achieving the goal may seem like reward enough, but Rich advises against ever going back on promised rewards. This only damages the desire to sacrifice for goals in the future. Also, interestingly enough, money is hardly ever a powerful motivator – something to keep in mind as you set goals and rewards at home and in the office. Meaningful and tantalizing rewards, on the other hand, elicit amazing efforts.

Now that we have accomplished our set of summer goals, we are gearing up to set new ‘stretch’ goals for the next few months. Having experienced the success of meeting our last set of goals, we are more enthusiastic to set new targets to work towards. This also means that we get to pick a new reward – one that matches the effort required to meet our goals. It may be difficult to top New York City, but I’m sure we’ll think of something!