katherinez1sb: Making Money Fast

Pedro Sorrentino is the first international student to attend Boulder Digital Works, a graduate school based in Boulder, Colorado that exists to build the next generation of digital professionals. Prior to moving to the States, he was the head of marketing and PR for Mediamind (Nasdaq: MDMD) in São Paulo, Brazil, his homeland.

Although startups and Madison Avenue agencies are perceived to have little in common, coffee shop-hopping entrepreneurs and modern “Don Drapers” actually share more characteristics than you might think, and they can learn a lot from one another.

The most valuable assets for startups are time and team. When working on a big idea with little money and a short time to make it real, Mark Zuckerberg’s corporate mantra “move fast and break things” is particularly a propos. Getting user feedback and making (and then fixing) mistakes as quickly as possible can help startups avoid bigger problems and bring home the bacon in the long run.

It seems that now, more than ever, it’s time for “Mad Men” everywhere to heed the advice of the entrepreneurs setting up shop in basements and coffee shops around the world.

Here are five lessons Madison Avenue can learn from startups. Add your own thoughts in the comments below.

1. Be T-Shaped

Big multinational advertising behemoths that hit their stride before the rise of the web often struggle to deliver high-quality digital and interactive work. In many cases, a hesitance to move forward or a lack of technical knowledge within a company’s talent base are at the root of this.

“Startups are most likely to have a small team. Consider eight people and a situation where four or five of them are programmers. They are not just going to do technical stuff. There’s a demand to have a broader line of thought, since there’s no one else around to do the work,” says John Keehler, principal at ClickHere, the digital division for The Richards Group.

Marketers should strive to be T-shaped professionals. This concept was born inside the creative agency Ideo and is about professionals with versatility and the ability to think like a designer or a programmer, even if you work with marketing.

T-shaped professionals have a broad view of things. In startups, this is a reality, but when it comes to big agencies, people tend to be divided in silos.

Advice for Madison Avenue: It’s important to have a wide vision and understanding of everyone who’s involved with the campaign that you’re working on. This versatility saves time and brings more ideas to the table.

2. Test, Fail and Learn

Brent Daily is the COO and co-founder of RoundPegg, a Boulder-based TechStars startup that provides online HR solutions for discovering professional personalities. He thinks that a good startup culture is one that believes “it’s OK to make mistakes and be a spectacular failure.” On the other hand, he agrees that agencies can’t easily bring this acceptance of failure into their ecosystems — after all, if they fail, their clients also fail and that can represent a huge loss of money.

Agencies should consider testing marketing campaigns and products on the web as “beta tests.” Getting feedback from users via the web is a low cost way to get a feel for how the community will take to ideas. After optimizing based on user feedback, campaigns would then be better prepared to launch on other mediums, such as TV or print. When it comes to digital, users tend to enjoy sharing their opinions and giving solid feedback. “There are so many places to go and test advertising rather than doing expensive focus groups, that the result is usually a pretty low-cost test bid for them,” says Daily.

One good example of open innovation is the startup UserVoice. The service positions itself as “customer feedback 2.0″ and allows companies to ask for feedback on an organized web platform. Perhaps some day more companies will substitute the traditional focus groups for this lower cost web alternative.

Advice for Madison Avenue: Before starting a huge ad campaign and spending millions of dollars on media, use the web as your test arena and get quick feedback from your customers.

3. Leverage PR 2.0

PR 2.0 is the art of using social tools to reach and communicate with key stakeholders. There used to be a time when public relations was all about relationships with journalists and sending out press releases. Taking clients to lunch, picking up the check and smiling was the way to go. This method still exists, but is on its way out.

Public relations is now about the art of dealing with, well, the public. Journalists are still very important, but nothing beats the credibility of your customers, and they are probably already talking about your product. The question is: Are you listening?

Fortunately, there’s less and less space for companies with bad products to succeed by deploying exceptional marketing. We as consumers just don’t accept that anymore. Product quality is the true advantage — attaching that strength to a sound PR strategy enables companies to listen to what consumers are saying, engage them and build brand awareness.

Startups take advantage out of this. When a startup offers a great solution with its product, normally there’s an engaged early adopter community ready to give free feedback. Agencies should take advantage of it, too. What better way to improve your business and its product than getting direct feedback from your core users? Initiatives like Starbucks’s customer feedback and idea generation site mystarbucksidea.com are the right way to go.

Advice for Madison Avenue: Remember that having a great product is key. But listen and allow your early adopters to influence the next meeting with your client’s R&D department.

4. Bootstrap It

If a startup can run for months (or years) without without getting funded, Mad Men can dabble in testing and running campaigns without buying media. Agencies could learn a lot by testing out the old startup method of bootstrapping; that is, getting by without external help and being cautious with expenses.

Startups, for example, use free social tools like Twitterclass="blippr-nobr">Twitter, Facebookclass="blippr-nobr">Facebook and YouTubeclass="blippr-nobr">YouTube all the time to save money and still reach large, influential, highly-targeted audiences. Increasingly, agencies and large advertisers are beginning to catch on and test them out; the Old Spice guy campaign is a very good example of this.

As that campaign proved, a Twitter account and some YouTube videos can go a long way. What’s better is that using these tools is cost effective, even if you count time invested. We know that the Old Spice guy videos were not a simple production, but this campaign was comparatively inexpensive because starting with social media is much cheaper (and oftentimes more powerful) than a TV commercial.

Advice for Madison Avenue: Remember that you can do more with less when you have a good idea and a strong plan for execution.

5. Open Up to Feedback

Good startups spend a lot of time crowdsourcing opinions and getting feedback from their communities and mentors in order to improve their products. Agencies, on the other hand, usually won’t share copy or ideas with one another or their communities until a campaign is ready to launch.

Some agencies though, are finding that it doesn’t hurt to ask others for creative or production input — that’s what Victor & Spoils is all about. Based in Boulder, Colorado, the ad agency calls itself “the world’s first creative (ad) agency built on crowdsourcing principles.”

John Windsor, Victor & Spoils CEO and former VP of strategy and innovation at CP+B, understands how disruptive new technologies can be, especially when they relate to the ad world. “We’re moving from a world of scarcity to a world of abundance. The rise of the curator class has a new generator of social creative/digital directors,” says Windsor.

This is a company that has tapped into the startup principles and made its business faster, global (it has people from all around the world giving input) and without the legacy issues that you see on Madison Avenue. As time passes, we can draw a line between businesses that embrace change and the ones that fear new ways of doing things.

Advice for Madison Avenue: Embrace change and don’t fear the unknown. Others can help your cause if you give them the right opportunity.

More Business Resources from Mashable:

- What’s the Value in a Brand Name?/> - HOW TO: Run Location-Based Google Ads/> - HOW TO: Get the Most From a Small Business Social Media Presence/> - Top 5 Qualities to Look for in Startup Job Candidates/> - Why the Best Online Marketing May Be Headed Offline

Images courtesy of MadMenYourself & class='blippr-nobr'>Flickrclass="blippr-nobr">Flickr, jolien_vallins

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A chill’s setting in and everyone (in the U.S., at least) is putting away their Halloween pumpkins and skimming over their Turkey recipes. While the seasons are quickly changing, we’ve brought together another round of social media tools and resources from the past week or so.

Check out class='blippr-nobr'>Social Mediaclass="blippr-nobr">social media for tips on how to gain Twitterclass="blippr-nobr">Twitter influence, or a glimpse at the future of Foursquareclass="blippr-nobr">Foursquare. Tech & Mobile includes a thorough discussion of online privacy, A/B testing resources for developers, and website designs that blew us away. Business comes packed with tips for using Facebookclass="blippr-nobr">Facebook’s new groups, marketing to an international audience, and startup funding tips from eight investors.

Looking for even more social media resources? This guide appears every weekend, and you can check out all the lists-gone-by here any time.

Social Media

Top 10 Twitter Trends This Week /> Wondering what was hot in the Twitterverse this past week? Check out our comprehensive chart of the top trends.
10 Fun Doodling Apps to Unleash Your Creativity/> The pen and paper may be on a fast track to obsolescence, but the doodle will live on forever. These 10 sites are some of our favorites.
The Future of Social Media and Politics/> With the midterm elections in their final throes, we spoke to some key players for their views on what the rise of mainstream social media has in store for the next generation of political campaigns.
HOW TO: Gain Twitter Influence/> Twitter Influencers Guy Kawasaki and Robert Scoble share their tips for earning Twitter cred.
4 People Who Let the Crowd Control Their Destiny/> We’ve taken a look at four instances of crowd sourcing one’s life — all of which launched around the same time, but include their own set of hardships and rewards.
A Glimpse at the Future of Foursquare/> CEO and co-founder Dennis Crowley discussed the future of Foursquare Wednesday, touching on customized recommendations, the instant checkin, and brand discovery.
HOW TO: Organize a Mashable Meetup/> Many of our readers have been taking the reins in getting to know each other by organizing Mashable Meetups. Here’s how to get started setting up your own.
5 Must-Follow Non-Profits Making a Difference With Social Media [Mashable Awards]/> From raising money to spreading awareness to connecting with people, social media is a boon for non-profit organizations. Here are five must-follow groups that stood out in 2010.
Social Media Weddings: 4 Tips From the Pros/> Social media can help you research vendors, communicate with guests and share your big day with your friends and family. Here’s how.
An Inside “Look” at Showtime’s New Voyeuristic Series/> Based on director Adam Rifkin’s 2007 film of the same name, “Look” was shot via security cameras and integrates social media.

For more social media news and resources, you can follow class='blippr-nobr'>Mashable’sclass="blippr-nobr">Mashable social media channel on Twitter and become a fan on Facebook.

Tech & Mobile

10 Essential Websites for iPhone Photographers/> We’ve bookmarked 10 brilliant online resources that offer great galleries, talent showcases, app reviews, exhibition news and more, all for the iPhone photography enthusiast.
5 Website Designs That Blew Us Away [Mashable Awards]/> A beautiful website can blow you away: Here are a few of the websites we think showcased excellent design work this year, both in terms of form and function.
5 Stylish iPhone Alarm Clock Apps to Wake You Up On Time/> We’ve tried and tested five great alarm clock apps for the iPhone that can’t make getting out of bed any easier, but at least you can customize your morning.
“Def Jam Rapstar” Raises the Roof Just Short of Greatness /> The game’s creators can go on and brush their shoulders off because the limited options won’t hold those living room MCs back from personal stardom.
The Social Future of Xbox Live and “Halo” /> We spoke with “Halo” Franchise Development Director Frank O’Connor to learn more about Bungie and Microsoft’s strategy for promoting social gaming with “Halo: Reach.”
9 iPhone Apps for Managing the Recruiting Process/> Instead of creating new processes or downloading a bunch of new apps, here are some iPhone apps you might already have that can help you manage the recruiting process.
5 Media Format Flops Destined To Be Forgotten /> For every VHS, there’s a BetaMax. As consumer electronics companies do battle, the tech landscape is littered with losers. Check out the interesting stories behind 5 famous flops.
Hands-on With Logitech’s Wireless Solar Keyboard /> The K750 won’t change your life. It won’t even even help you type faster. It will, however, allow you to buy a few less batteries.
10 Intermediate and Advanced Tips from PHP Masters/> We asked class='blippr-nobr'>PHPclass="blippr-nobr">PHP experts about their top suggestions for developers on their way to becoming true masters of the art and science of PHP.
Online Behavior Tracking and Privacy: 7 Worst Case Scenarios/> If advertisers continue to self-regulate online tracking or if the government steps in, what’s the worst that could happen? We spoke to experts on both sides of the issue to find out what’s at stake.
Two Ways Developers Will Interact With Google TV Viewers/> class='blippr-nobr'>Connectedclass="blippr-nobr">Connected devices like the Google TV promise to bring the web to your living room in one of two ways: optimized websites and native applications.
12 Tech Toys for a Geeked-Out Wedding/> A wedding is no time to hide your inner geek. These 12 gadgets will spice up any lo-fi nuptial celebration.
7 A/B Testing Resources for Startups and Solo Developers/> If you need a simple, inexpensive way to figure out what’s going to make your website’s users click on that big, red button, check out these tools.
HOW TO: Start Your Own Internet Talk Show/> Do you fancy yourself a budding talk show personality? With a few inexpensive tools and a bit of planning, you can launch your own web show. Here’s how to do it.
Why Location Apps of the Future Will Do Much More Than Checkins/> class='blippr-nobr'>Sparkleclass="blippr-nobr">Sparkle is a new location platform launching today from Location Labs.
5 MP3 Players for Pumping Up Your Workouts/> Whether you’re looking for a new MP3 player or an alternative to taking your expensive phone into the danger zone, we’ve got five options that are ideal for sporty types.
The Evolution of Mobile /> We’ve certainly come a long way.

For more tech news and resources, you can follow Mashable’s tech channel on Twitter and become a fan on Facebook.

Business

HOW TO: Score a Job Through Facebook/> While Facebook is known as a casual network of friends, with 500 million users, it has the potential to be one of the largest job hunting resources available – if used correctly.
How Online Private Sales Work and How Businesses Can Get Involved/> A look at the ins and outs of online private sales and how businesses can benefit from getting involved.
4 Things Small Businesses Should Know About Facebook’s New Groups/> Can Facebook’s new Groups feature be used for business? Here’s a rundown of what you should include in your Facebook biz strategy.
5 Tips for Marketing Online to an International Audience/> Expanding your marketing efforts to an international audience widens your brand’s reach, but it entails understanding regional cultures, laws and online behaviors.
Drupal Founder on Why Open Source is Good for Business /> Fresh off of an $8.5 million round of funding, Acquia and class='blippr-nobr'>Drupalclass="blippr-nobr">Drupal founder Dries Buytaert spoke with Mashable about the role of commercial interests in the success of open source software.
What to Consider When Building an In-House Social Media Team/> We talked to professionals who have built a social media team – from big global businesses to small companies – in order to pin down some best practices.
Essential Startup Funding Tips From 8 Seasoned Investors/> Mashable reached out to angels, seed stage investors and VC firm partners and asked them to share their best advice on how to get your big idea in front of the right people.
5 Tips for Improving Your Social Customer Service/> Companies that provide support through public channels keep customers happy and gain a reputation as consumer-focused businesses. Check out these tips for streamlining your social support model.
5 Proven Strategies for B2B Social Media Marketing/> B2B marketers can use social media to generate leads, create specialized communities, improve SEO, become knowledge sources, and strengthen marketing campaigns.
HOW TO: Calculate the ROI of Your Social Media Campaign/> If you’re not measuring your social media campaigns on an ROI basis, you’re setting yourself up for failure. Here are some tips to get you on a results-driven path.
10 Reasons Every TV Exec Needs to Start Tweeting/> Twitter offers a lot for TV execs looking for a real-time understanding of what fans want. Here’s why everyone in the TV biz should start tweeting.

For more business news and resources, you can follow Mashable’s business channel on Twitter and become a fan on Facebook.

[Image courtesy of Webtreats]

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Monday, November 15, 2010

Making Money Fast

1. Be T-Shaped

2. Test, Fail and Learn

3. Leverage PR 2.0

4. Bootstrap It

5. Open Up to Feedback

More Business Resources from Mashable:

For more Startups coverage:

Social Media

Tech & Mobile

Business

For more Social Media coverage:

1. Be T-Shaped

2. Test, Fail and Learn

3. Leverage PR 2.0

4. Bootstrap It

5. Open Up to Feedback

More Business Resources from Mashable:

For more Startups coverage:

Social Media

Tech & Mobile

Business

For more Social Media coverage:

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