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Derek Sivers - Revolution ? No - Just Uncommon Sense
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Derek Sivers - Revolution ? No - Just Uncommon Sense

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Derek Sivers' Talk at The New Media Asia 2011 conference in Malaysia

Derek Sivers' Talk at The New Media Asia 2011 conference in Malaysia

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Transcript

  • 1. Derek Sivers sivers.orgderek@sivers.org @sivers
  • 2. BACKGROUND:
  • 3. Professional musician
  • 4. Website to sell my CD
  • 5. CD Baby (1997)
  • 6. CD Baby (2007)200,000 musicians2 million customers85 employees
  • 7. CD Baby (2008)sold for $22 million cash
  • 8. CD Baby (2008)sold for $22 million cash… and gave it all away
  • 9. Moved to Singapore
  • 10. Why are you listening?
  • 11. Why are you listening?Dumb luck…… but learned some things
  • 12. WHY ARE YOU DOING?
  • 13. Most people don’t know
  • 14. They imitate others.Go with the flow.Pursuing someone else’s ideaWon’t make them happy(or even rich)
  • 15. Deathbed regret:Pursued something thatsomeone convinced youyou should want, instead ofwhat works for you.
  • 16. WHAT DO YOU WANT?Money?Prestige?Fame?Leave a legacy?Freedom?
  • 17. Know. Focus. Don’t diffuse.
  • 18. Money?(Refuse fame.Others in spotlight.Just watch numbers.)
  • 19. Legacy?(Like Trump:Put your name on everything.More money if others get to name it.)
  • 20. Freedom?(Refuse responsibility.Delegate everything.DIY = Decide It Yourself, but not Do.)
  • 21. Your compass. Optimize.
  • 22. Side-effects(money, fame, freedom)But know your goal.
  • 23. NOBODY KNOWSTHE FUTURE
  • 24. Q: “What’s the future of new media?”
  • 25. Q: “What’s the future of new media?”A: “Nobody knows.”
  • 26. Your business plan is moot.
  • 27. No plan survives firstcontact with the customer.
  • 28. CD Baby:
  • 29. CD Baby:Payment processor 
  • 30. CD Baby:Payment processor Store 
  • 31. CD Baby:Payment processor Store Distributor
  • 32. Admit: “Nobody knows.”
  • 33. Admit: “Nobody knows.”Ask instead of answer.Learn instead of preach.
  • 34. REVOLUTION?
  • 35. Warren Buffett:“We don’t swing unless it’sa clear home run.”
  • 36. Keep it simple. One thing.
  • 37. CD Baby business model:ask the local record store
  • 38. CD Baby business model:$35 to add$4 per sale
  • 39. 5 years later: “Revolution!”
  • 40. Love ≠ Romeo & Juliet
  • 41. Revolution ≠ War & blood
  • 42. Revolution =simply serving people better
  • 43. Revolution =uncommon sense
  • 44. IF NOT A HIT, SWITCH
  • 45. 12 years trying everything
  • 46. CD Baby = hit song
  • 47. Felt the difference. Advice?
  • 48. If people aren’t LOVINGwhat you’re doing, STOP!Don’t persist. Don’t push it.
  • 49. When you’ve got somethinggreat, you’ll know.They’ll be freaking out.
  • 50. Anything less than “OMFG!Yes! I want to pay!”STOP. Write a new song.
  • 51. Success comes frompersistentlyimproving and inventing
  • 52. NOTpersistentlypushing what’s not working
  • 53. VERSION 0.1
  • 54. Music recommendations?
  • 55. First CD Baby:- showed CDs- add to cart- emailed me the info
  • 56. First CD Baby:- showed CDs- add to cart- emailed me the infoProfitable in 2nd month
  • 57. If you’re notlaunching too soon,you’re launching too late.
  • 58. IDEAS vs EXECUTION
  • 59. “I’ve got this killer idea!”
  • 60. “I’ve got this killer idea!”(sign NDA to hear it)
  • 61. “Online dating with music!”
  • 62. “Online dating with music!”(That’s it! You make it. 50%)
  • 63. IDEA-1 = bad idea1 = weak idea5 = average idea10 = good idea15 = great idea20 = amazing idea
  • 64. IDEA EXECUTION-1 = bad idea $1 = no execution1 = weak idea $1000 = weak execution5 = average idea $10,000 = average execution10 = good idea $100,000 = good execution15 = great idea $1,000,000 = great execution20 = amazing idea $10,000,000 = amazing execution
  • 65. IDEA EXECUTION -1 = bad idea $1 = no execution 1 = weak idea $1000 = weak execution 5 = average idea $10,000 = average execution 10 = good idea $100,000 = good execution 15 = great idea $1,000,000 = great execution 20 = amazing idea $10,000,000 = amazing executionTo make a business, you need tomultiply the two.
  • 66. IDEA EXECUTION -1 = bad idea $1 = no execution 1 = weak idea $1000 = weak execution 5 = average idea $10,000 = average execution 10 = good idea $100,000 = good execution 15 = great idea $1,000,000 = great execution 20 = amazing idea $10,000,000 = amazing executionAmazing idea × no execution?$20
  • 67. IDEA EXECUTION -1 = bad idea $1 = no execution 1 = weak idea $1000 = weak execution 5 = average idea $10,000 = average execution 10 = good idea $100,000 = good execution 15 = great idea $1,000,000 = great execution 20 = amazing idea $10,000,000 = amazing executionGood idea × good execution?$1,000,000
  • 68. IDEA EXECUTION -1 = bad idea $1 = no execution 1 = weak idea $1000 = weak execution 5 = average idea $10,000 = average execution 10 = good idea $100,000 = good execution 15 = great idea $1,000,000 = great execution 20 = amazing idea $10,000,000 = amazing executionAmazing idea × great execution?$20,000,000
  • 69. IDEA EXECUTION -1 = bad idea $1 = no execution 1 = weak idea $1000 = weak execution 5 = average idea $10,000 = average execution 10 = good idea $100,000 = good execution 15 = great idea $1,000,000 = great execution 20 = amazing idea $10,000,000 = amazing executionI don’t want to hear ideas.I just want to see the execution.
  • 70. THE MOST SUCCESSFULTHINGS WE DIDAT CD BABY
  • 71. Answered phone on 2nd ring
  • 72. From: CD Baby loves Sara <cdbaby@cdbaby.com>To: sara@gmail.comSubject: CD Baby loves you!Personalized email headers
  • 73. Changes need pizza
  • 74. Customer commentssent to musicians
  • 75. Special requests with order (including cinnamon gum and squid)
  • 76. People remember you morefor the little ways you makethem smile, than all thebusiness-school stuff you do.
  • 77. Eccentric American?
  • 78. Eccentric in America, too.(that’s the point)
  • 79. So unusual (remarkable) thateveryone tells their friends.
  • 80. Be shockingly unique.Use uncommon sense.
  • 81. Derek Sivers sivers.orgderek@sivers.org @sivers