Questions for Entrepreneurs

Link:  So, You Want to Be an Entrepreneur - WSJ.com.

@JoeWheeler suggested that #8 on the list should be moved to #1.  I think #2 is close, but not quite there.  I think the fallacy is that entrepreneurship is a path to an "easier life."  The reality is that striking out on your own should be harder work than you already do.  If if isn't, your idea may make you money, but the barrier to entry for your line of business is obviously very low and you will be out-hustled in a matter of time.

Strength or Stretching or Fish Oil Works #twit2fit

Magically, I think I can walk at a normal pace again.  As you can see below, I'm doing just about every strengthening and stretching exercise under the sun to try and recover (the AROM ones are physical therapy prescribed--Active Range of Motion).  I've been doing weights and other strengthening just to keep a decent metabolism rate going.  And, of course, I'm taking fish oil for some reason--supposedly it helps with inflammation and heart health (probably in the same way as aspirin does--it thins the blood).

RunningAHEAD - Strings_n_88keys's log: View Workout.

Pushups 10x30, 300 total.  12,750 since 12/28/2008.
Bicep Curls (each arm)  8x13- 20 lbs., 104 total. 510 since 2/14/2009.
AROM hip/knee flx supine 3x10
AROM lumbar rotn supine 20
AROM lumbar alt arm/leg (hip bird dog) w/ball  3x10
AROM lumbar alt leg supine on ball 3x10
Hip Extension 3x15
Squats 3x10
3x piriformis round robin stretches
3x hamstring stretch supine
2x prone quad stretch
http://www.fitness-training-at-home.com/glute-stretches.html (#2) 2x
Adduction Stretch 2x

Thoughts on "Why Big Brands Struggle With Social Media"

Mashable:  Why Big Brands Struggle With Social Media.

The reference example in this article is Twitter, but discussion boards, blogs, and social networking sites count, too.

  1. Understating social media as "just another marketing channel" instead of building a long term relationship with consumers.
  2. Social media does not fit in the existing corporate structure--it falls somewhere between "marketing, PR, communications, content production, and web development."
  3. Social media has no borders.  Departments and marketing campaigns are often set up by region or nation.
    • Beyond this, I think that social media provides a wake-up call to some businesses.  Some regions, demographics, and countries, do not look on the brand favorably.  Venturing into the space forces companies to face this problem.
  4. Social media is long term.  Growth and cultivation of the relationships in social media take time, and cannot be placed in marketing windows or into quarterly objectives.
  5. There are no guaranteed results in social media.  I'd like to think of this a different way.  Every company's relationship with its customers needs a different approach.  There isn't a standard formula for leading to x% sales growth or xx,xxx page views.
  6. Different magnitude of exposures.  A superbowl may guarantee millions of viewers, while social media may, at best, gain you 50,000 fans.  Which would you rather pay for?
    • In the dot com boom, a publisher could get $3.00 for one thousand page views, $0.10 for a single click to the advertisers' site, and up to $20.00 for a "purchase" or "sign-up".  Which one was more valuable for the advertiser?  Depends on what the advertiser was trying to accomplish.
      • Brand impressions - CPM (banner ads at cost per 1,000 views)
      • Extended impression - CPC (cost per click) - user has to click-through to advertisers' site.
      • Sales leads - CPA (cost per action) - user has to offer up, at a minimum, contact information.  Often a sale of some sort has to be made.
    • Social media may gain you dedicated fans, or possibly even better--put you in touch with your brand evangelists.

I can walk without a major limp. #twit2fit

The left piriformis bursa is still pretty ticked off, and I now I have a little left hip flexor pain, but I can mostly walk normally on a 600 mg dose of Advil.  That's pretty good, considering that last week I couldn't hide the limp on Meloxicam, Advil, or even both.

RunningAHEAD - Strings_n_88keys's log: View Workout.

Pushups 8×34, 1x26, 298 total. 12,450 since 12/27/2008.
Bicep Curls (each arm) 10×10, 1×3 - 20 lbs., 103 total. 406 since 2/14/2009.
AROM lumbar alt arm/leg (hip bird dog) w/ball 3x10
AROM hip/knee flx supine 3x10
Ball Crunches 2x20
One Leg Press on Exercise Ball 2x10
AROM lumbar rotn supine 20
AROM hip/knee flx supine 3x10
2x piriformis round robin
1x hamstring stretch supine

Fifth Third Bank "Early Access" Check Advances

Fifth Third Bank has been pushing this "service" pretty hard at their branches.  It's basically a pre-authorized payday loan account that you can access through your online account access (for a small 10% advance fee).   I guess they need a replacement for bad home loans.  Their stock price, as of this writing, is in the $1 range.

Early Access Terms:

  • "As a Fifth Third consumer checking customer, you may qualify for a line of credit that can be deposited immediately into your checking account for a cash advance."
  • "Please Note: This is an expensive form of credit. This feature is designed to help our customers meet their short-term borrowing needs and is not intended to provide a solution for longer-term financial needs."
  • "Advances are automatically repaid from your next direct deposit of $100 or more."
  • "Your maximum credit limit will be $500 or 50% of total monthly deposits (based upon a 3 month average) rounded up to the next $20 increment, whichever is lower."
  • "The finance charge is $1 for every $10 borrowed. This equates to an Annual Percentage Rate (APR) of 120%."

Fees:

  • "A 10% Finance Charge will be assessed for each dollar that you advance through your Fifth Third EARLY ACCESS account feature. For example, for every $10 that you advance, the Finance Charge will be $1, without regard to how long the advance remains outstanding."
  • Bad math: "For example, $100 Advance with a $10 fee = $10/$100 = 0.1% X 12 cycles = 120% APR.
    REPAYMENT"  (remember the Verizon dollars versus cents debacle?

Strength Training and Stretching Workout #twit2fit

I don't like strength training or stretching, but I am unable to do any walking, elliptical, stairs, or biking due to my piriformis bursitis...

RunningAHEAD - Strings_n_88keys's log: View Workout.

(Raised Leg) Ball Pushups 8x37, 296 total.  12,152 since 12/27/2008.

Bicep Curls (each arm) 9x11, 1x3 - 20 lbs.  303 since 2/14/2009.

AROM lumbar alt arm/leg (hip bird dog) w/ball  3x10
AROM hip/knee flx supine 3x10
AROM lumbar rotn supine 20
Knee Grab (Left) 3x
Hip Extension 3x15
AROM hip/knee flx supine 3x10

Left Piriformis Stretch, Left Figure 4, Right Figure 4, Right Piriformis Stretch 3x