Cheap Revolution

Book Review: David & Goliath by Malcolm Gladwell

If you're not familiar with the David & Goliath story, it goes a little something like this: David was a young, meek shepherd boy and Goliath was a mighty warrior no one wanted to fight. David takes him on and ends up killing him with a sling. 

In short, the long shot defeats the favorite. This book explores what makes underdogs succeed against giants using studies and existing research. We use this all the time in the business world when we talk about the competition or business strategies between a startup (or small business) and bigger companies. In the Philly area, one such case is DuckDuckGo vs. Google. 

We learn how David was actually not an underdog but how the apparent disadvantages turned out to be advantages. For example, Goliath was big and strong but his size also made him slow. You can relate this to a big corportation that may be financially successful but is unable to make decisions quickly as a result. 

Gladwell uses several stories in "David & Goliath: Underdogs, Misfits, and the Art of Battling Giants" to do illustrate this by devoting a chapter to people with dyslexia to highlight how the skills they develop to compensate as a result can lead to remarkable accomplishments to citing the works of a psychologist who believes losing a parent at an early age can give that child an advantageous edge later in life. 

Anthony Gold of AnthonysDesk.com cites another popular example in his book review: 

If you wanted to get a degree in a STEM field (science, technology, engineering, and mathematics), would you be better off going to Harvard University, or Hartwick Collect, a small liberal arts school in NY?  It’s pretty obvious, right?

Or maybe not.

In an incredibly thought provoking discussion of relative deprivation, Gladwell argues (quite persuasively) that “It’s not just how smart you are.  It’s how smart you feel relative to other people in your classroom.”  And that it is far easier to feel like a big fish in a small pond like Hartwick than it is to get by at Harvard.

In Gladwell’s words, “The smarter your peers, the dumber you feel; the dumber you feel, the more likely you are to drop out of science.”  In the case of choosing Harvard over Hartwick, your chances of graduating with a science degree are reduced by nearly 40 percent!

While some of Gladwell's findings were repetitive and at times self-evident, he has an ability to draw you in with his storytelling. I would give this book 3 out of 5 stars. 

Have you read the book? What nuggets did you extract from it?  

P.S. In the Philly area? Philly Startup Leaders has a Business Book Club you should join here. 

Posts You May Have Missed Last Week: Crowdsourcing, Pinterest and Guy Kawasaki

Life sometimes prevents us from enjoying our pleasures. And by pleasures, we mean Cheap Revolution. 

Just in case you missed our top posts from last week, we compiled them into a short list for your convenience:

Top Entrepreneurs on Twitter: Guy Kawasaki

Each week, we will seek to provide you with one entrepreneur who can be considered to be a must follow on Twitter. We will base our selections on inspirational entrepreneurs who provide valuable insight, as well as content for our readers. We encourage you to follow our reccommended entrepreneurs on Twitter, so that you absorb various viewpoints and opinions. By using Twitter, you enable yourself to consume an endless database of knowledge.

The 10 Slide Pitch Deck for Entrepreneurs

Starting your own business can be an overwhelming task, especially if it is your first time building a business from the bottom-up. You will quickly realize the only one available to complete all the assignments is you, which means your time is a precious commodity. Writing a full-blown business plan is probably an intimidating task at the top of your list. However, a standard business plan is not necessarily needed for your business to open up shop.

 

20 Must Have Resources for Internet Marketers

Internet Marketing Tools/Software & Tools to Help Marketers

HubSpot – HubSpot is a powerful, web-based online marketing system that helps small and medium sized businesses capture and convert more qualified sales leads by an optimized web presence.  We like HubSpot because it is robust, easy to use, and they provide great support as well as a lot of opportunities to learn more about Internet marketing. Definitely a must-have if you’re a marketer who works with small or medium sized businesses. You can test drive HubSpot for 7 days.

Constant Contact – As a marketer, you know you need a “mix” of marketing activities to accomplish your marketing objectives. E-mail marketing is still a viable method of reaching your Internet marketing goals. We still use Constant Contact and we’re pretty happy with it. If you’re not sure,you can sign up for a free trial. Read also: 7 Alternatives to Constant Contact here.

Wordtracker – if you’re serious about keyword research, Wordtracker is an investment you need to make. Not only will your keyword research get done faster, but Wordtracker helps you find the most profitable and competitive keywords and you’re able to save your keyword research by project. They have annual and monthly subscriptions as well as a free trial. There are many keyword research tools out there, but Wordtracker is definitely one of our favorites.

Huddle – Managing your Marketing projects with Huddle is a snap! Huddle offers online collaboration, live conferencing, project management software and document sharing. There are five packages – from FREE to enterprise. Depending on what you need, it can be a cost-efficient way to manage your marketing projects. We use Huddle to keep track of our clients and marketing projects and continue to be pleased with the service. Update: This month customers can get 5% off at Huddle for Life by using coupon code: UHGFDX. Offer valid until 28th February 2011 on all paying subscriptions or free to paid upgrades at Huddle. 

Radian 6 – if you’re an Internet Marketer using Social Media, then you know how important it is to monitor and measure community engagement. Radian6 is a powerful platform that is comprehensive and easy to use. It’s a must have if you’re serious about social media!

Premium Marketing Resources

Market Motives – Get online marketing certified in SEO, PPC, Web Analytics, PR, Social Media, E-mail Marketing, and more.

Marketing Sherpa – Premium membership gets you case studies, how-to guides, research reports, certifications, and more.

Marketing Profs – Paid membership gets you access to marketing articles, case studies, videos, webinars, discounts on conferences, etc.

SEOMoz – Becoming a PRO member gives you access to a host of SEO-related tools. A must-have if you’re into search engine optimization.

eMarketing Association – Paid membership gets you resources, discounts on seminars, reports, whitepapers, articles, and a lot more.

Internet Marketing Books

Inbound Marketing: Get Found on Google, Social Media, and Blogs - a how-to guide to getting found via Google, the blogosphere, and social media sites.

The Art of SEO (Theory in Practice) – If you are new to SEO, you'll get a complete and thorough SEO education, as well as an array of effective tactics, from basic to advanced. Seasoned practitioners will find this book useful as a complete reference to SEO best practices.

Socialnomics: how social media transforms the way we live and do business – an essential book for anyone who wants to understand the implications of social media, and how businesses can tap the power of social media to increase their sales, cut their marketing costs, and reach consumers directly.

Trust Agents – Written by marketing rock stars Chris Brogan and Julien Smith, this book shows you how to tap into the power of social networks to build your brand's influence, reputation, and, of course, profits.

Web Analytics 2.0: The Art of Online Accountability and Science of Customer Centricity – As an Internet marketer, you know the importance of web analytics. This book provides specific recommendations for creating an actionable strategy, applying analytical techniques correctly, and solving challenges such as measuring social media and multichannel campaigns.

Internet Marketing Conferences in 2010

Affiliate Summit West – January 17^th to 19^th in Las Vegas, NV

Social Media Conference – January 28^th & 29^th in Miami, FL

Search Marketing Expo West – March 2^nd to 4^th in Santa Clara, CA

South by Southwest Interactive – March 12^th to 16^th in Austin, TX

Business to Business Forum – May 4^th to 5^th in Boston, MA

Top 12 Books for Entrepreneurs

There's no doubt that knowledge is power and the books below are a must read for those starting their own online business. In fact, these books have been selected exclusively for Internet startups. They're divided into two categories – those for startups in the concept stage and for those startups in launch mode. With Christmas around the corner, they also make great gifts! Note: These are in no particular order.

Concept Stage:

1. The Art of the Start by Guy Kawasaki - Guy Kawasaki is a Silicon Valley icon who knows how to start businesses. His "pitch deck" format has become a staple in most Team and a Dream engagements. He also talks about the rough road of dealing with Venture Capitalists.
2. Crossing the Chasm by Geoffrey A. Moore - How do you identify your early markets and your earliest customers? How do you get to that market quickly and grow to a "real company"? This book provides the roadmap.
3. Good To Great by Jim Collins - The home of the Sweet Spot Analysis used in many Team and a Dream conversations. Jim Collins calls it the HedgeHog Principal. Find out why some companies have continuing growth and some don't. What is it that makes them different? Based on 5 years and thousands of manhours of research.
4. Seven Habits of Highly Effective People by Stephen R. Covey - Covey details seven habits, if implemented, help people improve themselves. These habits can also help entrepreneurs deal with the unstable and unpredictable world of startups.
5. The World Is Flat by Thomas L. Friedman - Important reading for anyone wanting a good overview of how the world is changing in dramatic ways. Globalization is here. You decide what to make of it.
6. Founders at Work by Jessica Livingston - A look into the minds of the founders of Apple, PayPal, Flickr and many more as they tell in their own words what life is like hour after hour behind the keyboard, developing technologies and bringing them into market.

 

Launch Stage:

1. The Tipping Point by Malcolm Gladwell - Eye popping insights into viral marketing, the world of cool and why some things catch on and others don't.
2. Artful Making by Lee Devin and Robert Austin - What managers need to know about how software teams work. Taking lessons from the theatre and other art venues, authors Rob Austin and Lee Devin drive home some important ideas of working in a more creative way, while still making deadlines.
3. The Rise of the Creative Class by Richard Florida - Big trends book on how a new breed of the knowledge worker is coming into its own. 
4. The Flight of the Creative Class by Richard Florida - Why America needs to be wary of the cultures it creates for today's knowledge workers. We want to encourage creative people and growth of cultures around them. Instead, we are chasing them from our shores.
5. A Whole New Mind by Daniel H. Pink - Left brain and right brain will combine to create the ideal worker of tomorrow. Dan Pink outlines some terrific ideas on how to get your creative side in gear for today and tomorrow's business world.
6. Guerilla Marketing by Jay Conrad Levinson - Find out how to achieve successful marketing results using non-traditional marketing tactics to make your company stand out.

Honorable mentions go to The Long Tail by Chris Anderson and Think and Grow Rich by Napoleon Hill. No time to read? Pick up an audiobook version and listen to it in your car - you'll save some trees as well!

Are there any other books you would recommend? If so, let us know by posting a comment below.

By: Yasmine