This weekend I had the pleasure of presenting at BarCamp DC 2008. It was the first BarCamp I have attended. BarCamp is a technology unconference where topics are suggested but there is no proper format. BOALT got some coverage from the Washington Post both on their website and in Monday’s business section. It was pretty exciting given that there were over 30 presentors and only a couple were mentioned.
My presentation topic was named, “Building a web business in an uncertain economy.” And for those of you that did not attend, I have outlined the presentation below.
I started out the presentation with a background on BOALT, our clients and discussed our new strategy for 2008/2009.
The following topics were covered:
- The economy’s downturn has made it extremely difficult for start ups to receive any sort of financing, so start with a concept that can be monetized quickly. Our start up, RushMyPassport.com, was cash-flow positive from day one. We were able to use our profits for operational expenses and growth.
- As a rule of thumb, your chances of success general increase if you go after non-sexy businesses. When you try to compete in the social/sexy technology sphere, your more likely to fail because the competition is fierce.
- Apply your technology skill set to a brick and mortar industry that hasn’t utilized new media technologies. Convert a mom and pop sector into something more mainstream. Go against the grain.
- Don’t get hung up on a brand and spend weeks on your corporate identity. Launch your product and improvise as you go. A/B test like crazy and let your consumer decide what works for you.
- Start small, don’t try to build out a huge feature set. Create reasonable milestones and prioritize your project. Most of our clients’ success or failure depends on this one step.
- Prepare for the worst. There is always a moment of grandeur with any start up. It’s great to be optimistic but brace yourself. The ride has just begun.
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