Productivity: As a startup CEO, what is your favorite productivity hack?

Here are some of my favorite hacks and tools.

First off, it’s a 2 step process.

Prioritization Stage 
1. Prioritize the most important task you need to get done (often the one you are putting off) It is critical to set objectives before working. – A great book on this topic is Eat That Frog – http://amzn.to/auq0Nf
2. Use Trello.com to map out all of the tasks of the company. This gives a macro view of whats going on and allows you to delegate tasks that may better be completed by another person. AgileZen.com Asana.com kanbanflow.com are other great Task Management options. 
Delegation can be one of your best productivity tools!

3. Delegate (LIKE A BOSS) – When you enjoy what you do you will find yourself being much more productive. If you really suck at doing something, chances are there is someone out there that can probably do it for less than $5/hr. Check outFiverr.com Elance.com ODesk.com etc etc…
Slow clap it out for globalization.

4. Use a whiteboard to list all of the tasks that are mine to accomplish. After looking at Trello and delegating out tasks, I put mine on a white board. Usually this is 10-15 tasks.

*You could also use Evernote or a notepad, but i prefer the whiteboard.

4. Use a post-it note to record the 3 most important things I can do on that particular day. The post-it note beneficial because it has a size constraint.

Ok now the fun part. 

Execution Stage
1. Set iPhone in Do Not Disturb Mode– New feature in iOS 6 that turns off vibrate and all sounds. 

1.5 Set Mac in Do Not Disturb Mode (OSX Mountain Lion) – Pull out the Notification Center on the Mac and scroll up. There is a hidden switch that allows you to shut off Alerts and Banners.

*Notifications resume automatically the next day in case you forget to turn it back on.

2. Remove temptations with Self Control. SelfControl is a tool that blocks websites you have listed as distracting for a set period of time. Once you set it, there is no way to shut it off until the time expires…which makes you feel like an addict going through withdrawals.  As you notice distractions, be sure to add them to your blacklist. 

3. Use Rescue Time to track your productivity. – Install RescueTime on your computer and it measures how much time you spend doing particular activities. You then designate whether those activities are productive or not.  It also emails you with a productivity summary for the week.  This will show how much time you spend on Facebook or Youtube per week. 

*This only needs to be installed once

4. Use Toggl to track individual task time – Start a task and start the timer. Its shocking to look back on your day and see that it took 10 minutes to send one email etc. 
*Note* I am not recommending using Toggl all day everyday as it requires too much work and dedication. Use it occasionally to get a picture of where your day goes, both online and offline. It will be eye opening…I promise.  www.toggl.com

5. Take a break when you are not being productive anymore. – For me I have a really short attention span, and I notice a significant fall off in productivity after about an hour or so of work. Take a break. Go for a walk, do something else. etc…. then get back to work!

6. Listen to music – Not all music is the same when it comes to being productive. Try out different genres of music and see what works for you. *For me I like music with very few lyrics and has a repetitive beat that gets me almost in a productive trance. aka Deadmau5 and house music. 

7. Use VIP Inbox on iOS 6 – Set up your VIPs (be very selective) and only check those emails. Batch the rest. 

8. Batch Your Email (When people are unlikely to respond right away) –Email is one of the biggest time wasters. Stay away unless it is absolutely critical to your previously set objectives. 

Remember that the more emails you send throughout the day, the more you receive. It’s a vicious cycle. 

*I batch emails at night or early in the morning when people are less likely to respond right away. It is amazing how fast you can blow through a few hundred emails when you are not replying to instant responses and can move on to other tasks. 

9. Add “sent from my iPhone” to all email accounts signatures – This way people don’t get upset with you for keeping your emails brief and getting right to the point. 

 

What do I need to do to launch a tech startup that will be acquired by a top tech company?

I’ll start with one of my favorite thoughts, by Alex Haley:

“Many a young person tells me he wants to be a writer. I always encourage such people, but I also explain that there’s a big difference between “being a writer” and writing. In most cases these individuals are dreaming of wealth and fame, not the long hours alone at the typewriter. “You’ve got to want to write,” I say to them, “not want to be a writer.”

The reality is that writing is a lonely, private and poor-paying affair. For every writer kissed by fortune, there are thousands more whose longing is never requited. Even those who succeed often know long periods of neglect and poverty. I did.”

When the startup market is hot, like it was in 1999/2000 and as it is now in 2014, many people suddenly discover they want to “be an entrepreneur.” They find a co-founder who also wants to join the “startup scene”, brainstorm a few ideas, pick one that is plausible, hack up a product, then buy a wheelbarrow they can use to take their money to the bank.

They almost never need that wheelbarrow. This is because starting a company is as Alex Haley described writing: the best companies are not started by people who want to “be an entrepreneur.” They are started by people who are knowledgable and passionate about a very specific problem, feel they can solve it, and then get busy solving it, often not caring that much about how large of a company they can build as a side effect.  They certainly don’t have “getting acquired” as their goal.

I’d highly recommend you read this essay by Paul Graham: How to Get Startup Ideas. A great line from it:

“The verb you want to be using with respect to startup ideas is not “think up” but “notice.” At YC we call ideas that grow naturally out of the founders’ own experiences “organic” startup ideas. The most successful startups almost all begin this way.”

The best entrepreneurs work on ideas that grow out of their personal interests and passions, and they start the company because it is the best way to bring their vision to market. Many also do want to get rich, but the getting rich happens during the years of toiling away, honing their ideas via trial and error and hard work. 

I think this leaves you with two options:

  1. Find a startup that is already up and going and needs someone with your skills. If you join early enough, you may even become a co-founder.
  2. Pick an area of interest and passion and go very deep in it. Become more knowledgeable about it than anyone you know and see if you find an opportunity in that market that you just have to address: something that needs to exist in the world. And if you don’t find it, don’t start your company.

Good luck.

Link on Quora

What are the most common mistakes first-time entrepreneurs make?

1. Keeping your idea secret. 
This is one of the most stupid misconceptions about startup ideas (If I tell it to someone they’ll steal it and make millions of it) Reality is that every loser has a business idea with a potential but most are not capable to execute it. And people who are able to execute ideas have plenty of their own. Of course, it’s the execution not the idea – facebook came after friendster and myspace and google came after plenty of search engines.

2. Trying to build a product for everyone.
He who tries to please everybody, pleases nobody.

3. Lack of focus.
All entrepreneurs are cursed with having too many ideas that are too tempting not to be executed. The point is to be able to put everything else aside and focus on one with best timing and most potential. Jack Dorsey mentioned somwhere that he had his Twitter idea almost a decade before he started it and put it in shelf – which is his way of clearing distractions.

4. Ignoring cash-flow.
As already mentioned in many answers confusing cash-flow or ignoring it is surest way to fail.

5. Quitting too early + not failing soon enough. 
Quitting and failing are 2 different things. Failing soon is about not wasting time (or failing in love) with features once you have enough evidence they aren’t going to make profit – you should seek that evidence all the time. Quitting on another hand is giving up to circumstances while knowing that what you are doing can work and will make you happy.

6. Wasting time on what competition does. 
Someone once famously tweeted: “If you spend all your time looking at your competition your product will end up looking like competitions ass.”

7. Picking the wrong co-founder and not having a shareholder’s agreement in place.
Talking or wishing and doing are to separate things, when you are motivated and excited everyone feels like a winner. All people tend to overestimate themselves, however once it comes to action many back off or find reasons and excuses to go for the easy and safe route. Making sure you aren’t giving equity to a “co-founder” before you get a proof is what shareholder’s agreements are made for.

8. Issuing equity too early.
Many people you hire early on may only a half-hearted commitment and ambitions on their own. Once I was going to offer small part of equity to an advisor and I had a chat about it with one experienced partner in a law firm, he told me: “Why would you need an advisor who does it for equity? Get people who are excited about your product and want to help out because of that excitement and belief in it, then after a year or more you can talk about equity.” 
Same thing with stock options, the ideal time frame should be around 5 years, if you give it to someone after 1 year of working they can simply walk away and take a free ride while you’re working your ass off increasing the value of their stake.

9. Too many features – overcomplicating. 
Everybody knows why Apple was so successful. Here’s a quote from Albert Einstein that sums it up nicely: Any darn fool can make something complex it takes a genius to make something simple.
It’s the simplicity not complexity that sells (and makes it hard to build)

10. Not seeking or using customer feedback.
Well they may not tell you what you should build but they can surely tell what’s wrong – as Bill Gates once famously said.

Link on Quora

What are some of the most awesome psychological facts?

another example of Decoy effect-
One of the best known examples of the decoy effect is an old subscription page of The Economist. They offered 3 different types of subscription:

  • Web Subscription – $59
  • Print Subscription – $125
  • Web and Print Subscription – $125

The first offer of $59 seemed reasonable. The second option (only print) seemed a bit expensive, but still ok. But what about the third option? Both Web and Print for the same price as the print-only subscription?
Dan Ariely, an Israeli American professor of psychology and behavioral economics and author of “Predictably Irrational“, tested this phenomenon with his MIT students where he asked them to choose a subscription. The results were:

  • Web Subscription – $59 (16 students)
  • Print Subscription – $125 (0 students)
  • Web and Print Subscription – $125 (84 students)

Total revenue: $11,444
 
The majority of students selected the third option (dominating) and none of them selected the second option (the decoy). Knowing this, Ariely performed a second test and removed the decoy product. The results were:

  • Web Subscription – $59 (68 students)
  • Web and Print Subscription – $125 (32 students)

Total revenue: $8,012
 
This time, most of the students preferred the first subscription. By adding a decoy product, The Economist improved sales with 30%.
another example-
Not long ago, Apple unveiled their new iPod Touch devices. I took a screenshot of the pricing table. As you can see, for $229 you get 16GB, for $299 you get 32GB and for $399 you get 64GB.

Apple’s pricing strategy
When you want to double the storage capacity – going from 16GB to 32GB – you pay $70 extra and get more features, such as a 5MP iSight camera and iPod Touch Loop. When you want to double the capacity from 32GB to 64GB, you pay $100 more but don’t get extra features for it.
You might conclude the 32GB version is the best value for money. Only a few would buy the 16GB version and even fewer would buy the 64GB version. The 16GB and the 64GB version act as the “price decoy” to make the 32GB version as the best option.
By the way, the new iPhone 5S with 16GB will be available for $199, which is $30 less than the new iPod Touch and has a lot more functionality. Fair enough to say that the iPhone comes with an additional service plan.

 

Link on Quora

What’s the shrewdest, smartest maneuver you’ve ever seen in business?

“All Our Patent Are Belong To You”

Step 1: Make Roadster and make electric cars sexy.

Step 2: Make Model S and Model X to make electric cars mainstream (Apparently they’re patenting the names Model ‘E’ and Model ‘Y’ too)

Meanwhile, get cousins to start a solar energy company and build an electric charging network throughout US and Europe.

Step 3: Make electric car technology available to all the big car companies. They have no choice but to use it. Not building electric cars would be like Microsoft not getting into the phone market. Not using Tesla’s technology is just plain stupid.

Now that that’s done, look ahead five-ten years. Electric cars slowly dominate the market, and who already has a complete, ready-to-use, supercharging network?

That’s like buying up all the fuel supply when everybody’s riding horses, and then inventing automobile mass production and telling everyone else to follow suit.

PURE GENIUS

Link on Quora

Should I step down? My CEO cofounder hasn’t brought any funding, nor real customers?

You underestimate the value of quitting. Leave. Now. 

One of the most terrible lies ever told is that “winners never quit”. Total bunk and claptrap. Winners quit the right things. If anything, they quit more often.

Have you ever overstayed in a bad relationship? Refused to throw away an outfit you’ll never wear? Squeezed a spot too long? A bad company is no different.

We all hold on to some ideas longer than we should. People have a built-in tendency to value what they have over what they could have instead. It’s easy to see – unless you’re personally involved, when it’s a bit like trying to assess the quality of your haircut by staring at your own shadow. 

In the western world we enjoy the freedom to do almost anything – you could make a business out of designing fluffy dice – but this has come at a cost: the standard for greatness is much higher so you have to invest more of yourself to succeed. You need to play by these rules:

Take your company. Funny thing about companies nowadays – we have no shortage of them. Entrepreneurs are like musicians or bloggers; almost anyone has the means to become one. Lots of people are trying. 

As a result only a teeny slither of companies, songs or blogs can be successful. The abundance has raised our standards. 

This does not mean you should give up. It means you should give up if you’re not going to meet those standards, and try something else. If you’re willing to look, you’ll find no shortage of better alternatives. 

Everyone knows it takes hard work to become successful, but that’s only half the story. It also takes courage and insight to pick the right things, and say no to everything else. 

  • Bill Gates gave up on Harvard.
  • Steve Jobs gave up being a video game designer at Atari.
  • Jeff Bezos gave up a well paid hedge fund job to found Amazon.

Not common choices. But yours is much easier.

The more ‘sensible’ path – keeping all your options open, and doing nothing – feels attractive only because it’s placating your fears. Your emotional attachment is holding you back from giving your all. 

gave up a successful business I’d built and run for 10 years. I literally dismantled it and turned it into a completely different company, now doing what I love. It’s possibly the best thing I’ve ever done; I’m infinitely happier and we trebled our earnings in a year. Doing things right is no substitute for doing the right things. 

You say your company has gone three years without any customers. If that’s true, you don’t even have a business. Give it up, and put your heart into something else that matters.

Link on Quora

What are the best-kept secrets of successful business people?

Have you ever known someone who seems to be able to get everything they want? The ones who seem to breeze through life effortlessly, making up their own rules as they go along, unaffected to the mundane realities of everyday life? 

Are some people just “luckier” than others, their roads already smoothly paved, helping them achieve their goals? And others are “unluckier,” with barriers cropping up for them out of nowhere, preventing them from achieving their goals? 

It’s a slight variation on the age old question: Do we create our destiny, or are we victim to it? 

As most age-old questions go, the answer isn’t simple, and more than likely lies somewhere in the middle. But no matter your lot in life, you can make the most of what you have by not letting what you can’t do interfere with what you can do; and by taking note to some of the habits of the ‘lucky’ people in our lives.  Are there skills or attributes that enable some of their good fortune? 

These people clearly have an ability to effectively court the opportunities and relationships they want in their lives, and when observed closely they do seem to use similar strategies and principles in their pursuits. 

These Principles of Courtship can apply equally to both personal and professional endeavors. Whether you’re looking to land an amazing career opportunity, a key client, or that amazing friendship or relationship, following this basic set of principles will help you court the right opportunities, both in 2014 and beyond. 

Principle 1: The Art of Pursuit 

Effective pursuit is about observation, assessment, and calibration. 

Any good pursuit begins with doing your homework. You must know your goals and standards before you can hope to live up to them. 

For example, if you see a company you want to work for, learn as much as you possibly can about the company’s history, current status, and future goals. This knowledge will give you credibility as you engage with the company and its network. The more detailed and thorough your effort at this initial stage, the stronger the foundation you will have built for the rest of your capture plan.  Inadequate effort in this stage is why thousands of interview candidates each year fail to effectively answer the simple but critical questions of “What do you know about our organization, and why do you want to work here?”. 

Similarly, before you consider starting a relationship (serious or casual),  you should know who you are getting in bed with (pun intended), as those choices directly impact your health and safety. ‘Luck’ or success in this case is defined as a relationship in which both parties want the same things from one another and are adding positive energy to one anothers lives. 

First, focus on activities you personally enjoy. Then, branch out and try new activities you might find interesting.  By focusing on yourself you’ll increase the possibility of meeting someone and you’ll likely learn more about yourself through the experience. Once a potential trustee emerges, check for red flags: Pay close attention to the nuances in their behavior, as well as their reputation among others and how they treat people close to them. In these details and subtleties often lay the keys to making your pursuit successful. 

Observe the situations closely, assess yourself and the surrounding context, calibrate your capture plan accordingly. 

Principle 2: The Impact of Energy 

Confidence is the closest thing in this world to magic. 

The human brain is amazing. Its complexity and magnificence is unquestioned in science and religion alike; it synthesizes complex information and seemingly unseen cues to make dozens of decisions each instant without any awareness from us.  These unconscious interpretations made by one human brain, in turn, become unconscious signals which impact the awareness/brains of others around them, setting off profound but nearly invisible domino reactions in every human exchange. 

What drives these unconscious decisions? The same force that drives the rest of the universe: Energy. 

A person’s energy impacts her mind, both conscious and unconscious, in profound ways. That energy is conveyed in everything about her being, and that energy has a profound impact on every human being she encounters. You’ll notice that many of the people we see as “lucky” share this commonality: They are confident in themselves and their cause, and that belief allows other people to feel drawn to believing in them as well. 

The best way to alter our subconscious impression of energy is to consciously increase our confidence level. Confidence is not just a feeling, but rather reflects on our internal, core perceptions of ourselves — specifically, our value and competence as human beings. Confidence is a self-fulfilling prophecy. To become a more confident person, you cannot continue to what you’re already doing; something has to change. 

Even the world’s best public speakers did not come out of the womb knowing how to speak. They challenged themselves, took risks, and got scared. But instead of backing away from uncomfortable (but good) opportunities, they walked into them, fear and all. 

Conversely, those who live with self-doubt also form a self-fulfilling prophecy with their internal negativity/darkness translating to their life and relationships; and many times they focus on blaming outside factors. Outside factors are inherently out of your control, so by placing blame there, this prevents a person from ever truly progressing to a healthier state. 

Leaders are just normal people who habitually seized opportunity. You’ll gain expertise only when you step confidently into new territory. Act confident to become confident. Eventually, the more we practice at things, the better and more confident we become. We all have fear, and we all have causes we believe in. It’s our choice which one we allow to win in the end.

Another important key to confidence is remembering to  take care of yourself! If a sports team fails to nourish and support its star players, it certainly shouldn’t expect to win any championships. Likewise, if you’re not taking out time to nurture the person who looks back at you in the mirror, then it will be more than just you who will suffer.

So before you start your path to a new career or new relationship, stop to do a gut check and find out where your confidence is coming from. Find out what truly defines you, why you are here, and whether you’re capable of doing what you came to do.  By taking to to nourish your body and to know who you are, your energy and confidence will grow, preparing you for and more joy in professional and personal relationships alike. 

Principle 3:  The Wisdom of Surrender.

Never use the good to chase the bad. 

Take time to re-evaluate every so often, not only on how you are making progress on achieving your goal, but also whether your goal is worth the long-term investment. 

During the first few weeks and months of any new engagement, the first months of a new job, a new client, or a budding romance, it’s critical to stay aware of your larger-scale needs and goals. Relationships or engagements where you are slowly being drained of energy in the early stages are not likely to blossom into the kinds of situations that lead to long-term prosperity. 

Do not ignore red flags. Your time is one of the most precious resources of your life. Ensure that you’re getting what you need from all engagements, and those engagements are actually adding value/energy to your life. Your most closest relationships should leave you feeling both energized in your confidence level andchallenged in your own character development. If it’s not, then if the problems are not identified and addressed, that relationship will have a negative on impact on your life. 

People who value themselves don’t stay in relationships that deplete them of energy and joy. As human beings, we are limited. As with money and time, we have only a limited amount of energy to give. In order to have the greatest impact on the world, we must guard our energy, keeping on eye on how it is spent and how it is replenished.

Principle 4: Be the Driver of your Success. 

To achieve success in personal and work relationships, define what success is. Then, bend the world to match that definition.  

Set measurable, transparent, and, more importantly, agreed-upon goals for the relationship. You must be able to define and articulate what happiness or success would be, so that all parties are moving toward a common place. Any relationship without clear, on-going communication from each party doomed to never achieve it. It is crucial to express to one another and understand one another’s expectations, needs, and definitions of success in the relationship.

Let’s say you started a new job. After the first few months, you’ve decided you like the team and organization, and you want to continue to invest in the opportunity. In this case, you should take some time to identify where you’d like to be 12 months into the role, and should have professional, and on-going dialogue about it with your superiors. A good leader’s job is to enable your success, and unlock your potential, but they can only do so if you know your goals, and if you are taking active steps in achieving those goals as they align with the company. 

In a new personal relationships, be direct about what you want. If you are looking for casual fun, great — make sure your partner know. If you know you’d like to be married within the next couple of years, great — make sure your partner knows. Having all parties understand (or better yet, agree upon) one another’s goals is a requisite to any healthy relationship. 

Define success in your own terms, and then actively drive others toward that definition of success. 

Principle 5: You Get What You Give. 

In a highly interconnected world, the foundation you build today will define your success tomorrow. 

Look for ways to provide value to everyone you can on a daily basis. These actions, if consistent become behaviors which are highly desirable and never go unnoticed forever. People who create value for others accumulate goodwill and respectability. That goodwill and respectability translates to introductions, which build your network over time. Your network, in turn, opens the door for introductions and opportunities for you to pursue. 

In personal relationships, especially as as social media blurs the line between our personal and public lives, reputation is more important now than ever. The world is large enough that, if you’re honest about what you really want, chances are you can find someone else who wants the same things. Honesty and respect are what most people want in relationships, so in order to get it, we must be ready and willing to give it. 

We all face personal and professional challenges, and regardless of what we see in the lives of others, none of our roads have been paved perfectly smoothly. Those who appear to be “lucky” in their lot in life are usually those who see every challenge as an opportunity, and consistently seek out ways to turn weaknesses into strengths. It is the energy with which they approach these challenges that begets their success.

By understanding these principles of courtship we can all have a better shot at making the most of the opportunities we have today, as well as pave the way for the opportunities of tomorrow.

Link on Quora