Fyre Festival Business Mistakes
February 25, 2019 by Dr. Letitia Wright
Filed under Crowd Funding, Featured Articles, Front Page
Fyre Festival Business Mistakes
What can we learn from it?
First of all – if you have not heard of the Fyre Festival is was a great sounding concert that went bad.
There is a great crowdfunding story that goes with it and I talk about it here
Now that you are all caught up, let’s talk about the Business Mistakes made and what can be learned.
Netflix has a great documentary on it that I watched. I really liked how they covered it. I am using the information
from that documentary.
When they put together the team they really
Did not think things through as a business. Tasks were being asked or required but no real rules about working. People were drinking on the job. No real job descriptions or goals setup fro the day. They had a pilot with a plane who had taught himself to fly using Microsoft flight simulator. They thought it was fun because he took people to zero G but he did it because he did not know what he was doing.
They oversold the concert and when the guy in charge of tents told them you need a ship, the island can’t hold that many people and there is not going to be enough infrastructure, he was let go. Always listen to the people you hire, even when they tell you what you don’t want to hear.
They used the models to get a lot of press, which was a smart move. The more influencers you can get do be a part of what you are doing, more the legit your event looks. They were able to start booking some great bands, however, they did not understand what any of these bands required to preform.
I love how shell shocked the people in the documentary look as they tell the story, they are still upset from the experience.
The most interesting thing to me is that even the people who could see it was going to crash and burn and would warm Billy ( the founder) that it was not going to work, they never actually left the job. Billy would say keep going and ignore their clear warnings. They would say, ok and keep going. I have done the same thing in the past, although the stakes were not as high. I have ignored what my gut and personal experience taught me and followed what the leader said to do, only to find out I was right. I does not mean I would never follow this leader again on things, it just means, my inside intuition is still the first thing to be listened to.
He had factored receivables so he had money that had to be repaid and had told investors they were guaranteed money when they were not. He felt pressure to put on the event no matter what. People felt bad for staying on for so long. The Festival was attached to an app. The people working on the app had nothing to do with the festival, the festival was a marketing piece.
The people working on the app felt frustrated. They felt like they lost everything. They felt they were kept out of everything. The public perception was not something they could overcome. The founder actually fakes documents and had the FBI after him. Eventually the founder when to prison for 6 years and is barred from being a CEO of a company or a director of a company but there is a lot to learn from this.
Check out the youtube blog post here
Efficiently Ineffective
January 31, 2018 by Dr. Letitia Wright
Filed under Featured Articles, Front Page, Wright Ideas
Efficiently Ineffective
If you’re anything like me, you’ve wanted to be more efficient in your
business. I went through a phase where I was analyzing every little
thing I did to make it more efficient. The trouble was that I didn’t
look at whether the task even mattered before streamlining it. I’ve
since developed the EASE checklist to know whether I should even
continue as action, let alone make it more efficient.
-
- Effective
Is this action effective? Does it get me the results that I want?
If not, this is not an action to streamline — it is one to STOP
doing! Now.
Concentrate on doing the right things before doing things right. - Appropriate
Is this action appropriate? Does it fit with how I want to be
perceived?
It doesn’t matter how effective an action is if it doesn’t fit your
image and your values. No matter how cheap and easy it would be to buy
200 million email addresses a business will never be the same once
people label it a “dirty spammer.” - Sustainable
Is this action sustainable? Can I continue doing this indefinitely?
Every business has a limited amount of resources: time, money, energy,
etc. If this action takes more time than available and would cost more
to have a VA do it than will be made in return it is not sustainable.
Becoming efficient at running a deficit is a recipe for disaster. - Efficient
Now ask how can I make this action more efficient? What can I
eliminate from this action and get the same results?
And that is the challenge: maintaining the effectiveness,
appropriateness, and sustainability as we “trim the fat” from our
business activities. Because who really wants to be efficiently
ineffective?
- Effective
Blog Marketing For Profit By Jeff Klein
January 11, 2018 by Dr. Letitia Wright
Filed under Featured Articles, Wright Ideas
Blog Marketing For Profit By Jeff Klein
Most people who have their own blog have entered the blog marketing arena. Some even blog just to make money, but there are others who do not. When it comes to numbers, it all boils down to how you look at it. Let’s say you want to start a blog marketing business from the comfort of your own home; you would blog to make an income. But, if you are looking to find an outlet to express your thoughts, ideas, and opinions, you are not concerned with making money through a blog; you just want your blog to be more of a journal. The fact is, bloggers blog for different reasons.
When you market through a blog, you simply want to make a profit. In order to make a substantial income by blog marketing, you need to do two things: be persistent and be consistent. So, if you want to succeed, there are several methods and tools you need to become familiar with. This article will explain them to you.
Of course you want to have quality content on your blog. That is the first step to making money, but that content must also be original. It is not possible to market products and services on your blog with content written by someone else, unless you own exclusive rights to the material. If you are using content without the expressed consent of the author, you are considered to be plagiarizing, which will put you in a world of trouble not only with Google, but also with the author. So, always use content that belongs to you when you blog market to make an income. Content is crucial to achieving blog marketing success.
Another blog marketing strategy is tracking. It is vital to track each visitor and find out how they came to your blog. This will tell you the keywords they used to locate your blog and what place they went to for their search. When you know this information, you will not need to guess as to how to optimize your blog. You the keywords are working in your favor and which ones are useless to your goals. Then, you can decide what keywords to use and what keywords to get rid of.
Also, when you blog market for income, find other blogs and websites that are in your niche with whom you can exchange links; however, do not do this with any competitors. This will be of great help to you and your endeavors. The higher ranked the site or blog you are partnering with, the better it will be for your blog. Major search engines, Google included, will be attracted to all of your linking and rank you more favorably. So, the more link exchanges you have, the higher ranked your blog will be.
Blog marketing to earn an income is not impossible. You just need to learn what will work and what won’t. It is simply a process of trial and error. So, if you have an idea for marketing on your blog, go ahead and give it a shot. That is the only way you will ever know if it works. And, if you do find blog marketing techniques that are effective, you could create your own eBook and promote that as well. Now you have the knowledge; you just have to apply it to your blog.
Jeff Klein is a professional Webmaster and Internet Marketer. Join this exciting profession and become a Web Designer today. Search for web design schools near you and request free information. Learn more at http://www.web-design-schools.net/.