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	<title>Wasabi Ventures - Tales of the Entrepreneur</title>
	<atom:link href="http://blog.wasabiventures.com/feed/" rel="self" type="application/rss+xml" />
	<link>http://blog.wasabiventures.com</link>
	<description>Entrepreneurship at Its Best</description>
	<pubDate>Thu, 13 Nov 2008 15:05:57 +0000</pubDate>
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			<item>
		<title>Best Buy &#038; PBwiki - Customer Support as a Culture</title>
		<link>http://blog.wasabiventures.com/best-buy-pbwiki-customer-support-as-a-culture/</link>
		<comments>http://blog.wasabiventures.com/best-buy-pbwiki-customer-support-as-a-culture/#comments</comments>
		<pubDate>Thu, 13 Nov 2008 14:47:51 +0000</pubDate>
		<dc:creator>TK</dc:creator>
		
		<category><![CDATA[Customer Service]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=93</guid>
		<description><![CDATA[You often have read our articles about how customer support is not a department, it is a culture.
A recent article in the Consumerist tells the story of how Best Buy is instilling customer support as a culture as a way of combating the ever-increasingly troubled economy.
A few of the excerpts from the article:
We must find [...]]]></description>
			<content:encoded><![CDATA[<p>You often have read our articles about how <a href="http://blog.wasabiventures.com/hyatt-a-case-study-in-customer-service/">customer support is not a department, it is a culture</a>.</p>
<p>A recent article in the <strong><em>Consumerist</em></strong> tells the story of how <a href="http://consumerist.com/5084305/best-buy-to-employees-survive-the-meltdown-by-making-customer-service-a-priority">Best Buy is instilling customer support as a culture</a> as a way of combating the ever-increasingly troubled economy.</p>
<p>A few of the excerpts from the article:</p>
<p><em>We must find ways to win with the customers who are coming to us today. Serving our customers better than anyone else is the best way to create value for customers, employees and shareholders alike. We need every employee engaged in serving customers better, and more efficiently.</em></p>
<p><em>We could let today&#8217;s turmoil distract us from serving customers. Other retailers might do that. But we will not. Instead, we will use these circumstances to redouble our efforts and deepen our commitment to each other, to our company, to our strategy and to the customers we serve. In so doing, we will strengthen and fortify ourselves as a team. A winning team. That&#8217;s who we are, and that&#8217;s Best Buy.</em></p>
<p>The spirit of this type of customer care is also very evident in one of our portfolio companies, <a href="http://www.pbwiki.com">PBwiki</a>. Their customer support culture, which is spearheaded by customer support manager <strong>Rachel Pennig</strong>, means that they regularly achieve <strong>90%+ satisfaction levels</strong> from their user base.  As Rachel recently said to the PBwiki staff:</p>
<p><em> (M)oving forward we have a battle to fight against our competitors. But if we focus on keeping our users satisfied in every interaction with PBwiki, we will be able to edge out the competition. </em></p>
<p>If you are successful, customer service is always your best product.  Is it your best product?</p>
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		<item>
		<title>Individual Strengths</title>
		<link>http://blog.wasabiventures.com/individual-strengths/</link>
		<comments>http://blog.wasabiventures.com/individual-strengths/#comments</comments>
		<pubDate>Tue, 11 Nov 2008 16:22:37 +0000</pubDate>
		<dc:creator>Michele</dc:creator>
		
		<category><![CDATA[Entrepreneurial Archives]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=89</guid>
		<description><![CDATA[Each of us possesses certain talents.  These talents may be useful in specific areas of business but not in others.  One of our partners has excellent advice on how best to recognize and use these talents to your full advantage.
Read his article from the Entrepreneurial Archives to increase your business knowledge.

    
 [...]]]></description>
			<content:encoded><![CDATA[<p>Each of us possesses certain talents.  These talents may be useful in specific areas of business but not in others.  One of our partners has excellent advice on how best to recognize and use these talents to your full advantage.</p>
<p>Read <a href="http://chrisyeh.blogspot.com/2007/10/your-hard-is-anothers-easy.html">his article</a> from the Entrepreneurial Archives to increase your business knowledge.</p>
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		<title>Advice for Young Entrepreneurs</title>
		<link>http://blog.wasabiventures.com/advice-for-young-entrepreneurs/</link>
		<comments>http://blog.wasabiventures.com/advice-for-young-entrepreneurs/#comments</comments>
		<pubDate>Tue, 04 Nov 2008 20:37:06 +0000</pubDate>
		<dc:creator>Michele</dc:creator>
		
		<category><![CDATA[Entrepreneurial Archives]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=87</guid>
		<description><![CDATA[As Mason Cooley said, &#8220;Advice is more agreeable in the mouth than in the ear.&#8221;  However, as a novice in a field, advice from someone with experience can be the greatest of gifts.
One of our partners shared some of his wisdom and life knowledge in this post from the Entrepreneurial Archives.

    
 [...]]]></description>
			<content:encoded><![CDATA[<p>As Mason Cooley said, &#8220;Advice is more agreeable in the mouth than in the ear.&#8221;  However, as a novice in a field, advice from someone with experience can be the greatest of gifts.</p>
<p>One of our partners shared some of his wisdom and life knowledge in <a href="http://chrisyeh.blogspot.com/2007/05/long-term-perspectives-for-young.html">this post</a> from the Entrepreneurial Archives.</p>
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		<item>
		<title>Startups and Chicken Nuggets</title>
		<link>http://blog.wasabiventures.com/startups-and-chicken-nuggets/</link>
		<comments>http://blog.wasabiventures.com/startups-and-chicken-nuggets/#comments</comments>
		<pubDate>Thu, 30 Oct 2008 16:39:14 +0000</pubDate>
		<dc:creator>Michele</dc:creator>
		
		<category><![CDATA[Entrepreneurial Archives]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=85</guid>
		<description><![CDATA[How could an item on the menu of every fast food drive-through have anything to do with entrepreneurship?  Easy, both have everything to do with a wise investment of time and money.
Learn more about our partner&#8217;s &#8220;McNugget Principle&#8221; by clicking here.

    
    a2a_linkname="Startups and Chicken Nuggets";a2a_linkurl="http://blog.wasabiventures.com/startups-and-chicken-nuggets/";
    [...]]]></description>
			<content:encoded><![CDATA[<p>How could an item on the menu of every fast food drive-through have anything to do with entrepreneurship?  Easy, both have everything to do with a wise investment of time and money.</p>
<p>Learn more about our partner&#8217;s &#8220;McNugget Principle&#8221; by <a href="http://chrisyeh.blogspot.com/2006/08/use-mcnugget-principle-to-win-at.html">clicking her</a><a href="http://chrisyeh.blogspot.com/2006/08/use-mcnugget-principle-to-win-at.html">e</a>.</p>
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		<item>
		<title>Learning from the Hippocratic Oath</title>
		<link>http://blog.wasabiventures.com/learning-from-the-hippocratic-oath/</link>
		<comments>http://blog.wasabiventures.com/learning-from-the-hippocratic-oath/#comments</comments>
		<pubDate>Tue, 28 Oct 2008 16:00:08 +0000</pubDate>
		<dc:creator>TK</dc:creator>
		
		<category><![CDATA[Customer Service]]></category>

		<category><![CDATA[General Business]]></category>

		<category><![CDATA[Management]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=78</guid>
		<description><![CDATA[“primum non nocere” = first, to not harm
This Latin tidbit actually comes from the Hippocratic Oath (the one doctors swear to).  But there is a lesson in there for all of us.  A business&#8217;s first goal every day should be to not cause our customers to feel harmed.   It doesn’t matter what your job or [...]]]></description>
			<content:encoded><![CDATA[<p class="MsoNormal">“primum non nocere” = first, to not harm</p>
<p class="MsoNormal">This Latin tidbit actually comes from the Hippocratic Oath (the one doctors swear to).  But there is a lesson in there for all of us.  A business&#8217;s first goal every day should be to not cause our customers to feel harmed.   It doesn’t matter what your job or role, your real job is to make customers feel loved.  This manifests itself in many ways, but it should always be the centerpiece of your efforts.</p>
<p class="MsoNormal">Some people have a great deal of direct customer interaction, and some people have jobs where we rarely directly interact with a customer.  But as a rule, customer interaction should be a few things:</p>
<p><!--[if !supportLists]--></p>
<ol>
<li>Clear and concise (i.e. don’t waste their time or confuse them)</li>
<li><span><span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7pt; line-height: normal; font-size-adjust: none; font-stretch: normal; font-family: &quot;Times New Roman&quot;;"> </span></span></span>Prompt (i.e. if a customer or prospect has to wait more than 24 hours for an initial contact, we failed)</li>
<li><span><span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-size: 7pt; line-height: normal; font-size-adjust: none; font-stretch: normal; font-family: &quot;Times New Roman&quot;;"> </span></span></span>Follow-up and Follow-through (i.e. if we don’t have answers yet, at least once per day, tell them we are working on it. And if we say we are going to do something, do it and let them know we did it)</li>
</ol>
<p><!--[endif]--><!--[if !supportLists]--><!--[endif]--><!--[if !supportLists]--><!--[endif]--></p>
<p class="MsoNormal">Following these simple steps usually means you have very happy customers.  No matter what your role or job is.  Support is not a department, it is a mentality.</p>
<p class="MsoNormal">Primum non nocere….</p>
<p class="MsoNormal">
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		<item>
		<title>Leadership</title>
		<link>http://blog.wasabiventures.com/leadership/</link>
		<comments>http://blog.wasabiventures.com/leadership/#comments</comments>
		<pubDate>Thu, 23 Oct 2008 16:00:25 +0000</pubDate>
		<dc:creator>Michele</dc:creator>
		
		<category><![CDATA[Entrepreneurial Archives]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=83</guid>
		<description><![CDATA[&#8220;Leadership is the key to 99 percent of all successful efforts.&#8221;
-Erskine Bowles
One of our partners wrote an article about what is needed to be a leader, which as noted above, is a very important part of any successful business.  Click here to read this classic from the Entrepreneurial Archives.

    
   [...]]]></description>
			<content:encoded><![CDATA[<p>&#8220;<span class="huge">Leadership is the key to 99 percent of all successful efforts.&#8221;</span></p>
<p>-Erskine Bowles</p>
<p>One of our partners wrote an article about what is needed to be a leader, which as noted above, is a very important part of any successful business.  <a href="http://chrisyeh.blogspot.com/2005/09/leadership.html">Click here</a> to read this classic from the Entrepreneurial Archives.</p>
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		<item>
		<title>Hyatt - A Case Study in Customer Service</title>
		<link>http://blog.wasabiventures.com/hyatt-a-case-study-in-customer-service/</link>
		<comments>http://blog.wasabiventures.com/hyatt-a-case-study-in-customer-service/#comments</comments>
		<pubDate>Tue, 21 Oct 2008 16:00:02 +0000</pubDate>
		<dc:creator>TK</dc:creator>
		
		<category><![CDATA[Customer Service]]></category>

		<category><![CDATA[General Business]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=73</guid>
		<description><![CDATA[I have traveled a lot.  In some years of my life, I have spent as much as 50% of the nights sleeping in a hotel.  But very few of those evenings have been spent in Hyatt hotels.  So, on a recent trip to Hawaii, I spent 9 nights at two different Hyatt properties - the [...]]]></description>
			<content:encoded><![CDATA[<p>I have traveled a lot.  In some years of my life, I have spent as much as 50% of the nights sleeping in a hotel.  But very few of those evenings have been spent in Hyatt hotels.  So, on a recent trip to Hawaii, I spent 9 nights at two different Hyatt properties - the Grand Hyatt in Kauai and the Hyatt Regency in Maui.  Besides being beautiful and amazingly well designed, the Hyatts also did a great job of showing what it means to deliver excellent customer service.</p>
<p>In one of the brochures for the hotels, the general manager had a note that every staff member was there to make our stay perfect.  And this statement seemed to be true over and over.  Every single staff person we passed during our stay would say &#8220;hello&#8221; or &#8220;aloha&#8221;.  They were always smiling.  They were always willing to give some local advice or direction.  In addition, they paid great attention to detail.  Things were constantly being cleaned and straightened.  Things were always in place and always looked fresh.  Customer service was an obvious focus, and it made us feel like we were important.</p>
<p>As entrepreneurs, it is our goal to make our customers feel as if they are important.  This is how you make customers become ambassadors for your business, just like Hyatt has done with us.</p>
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		<item>
		<title>Hawaii -  A Paradise for Killing Business</title>
		<link>http://blog.wasabiventures.com/hawaii-a-paradise-for-killing-business/</link>
		<comments>http://blog.wasabiventures.com/hawaii-a-paradise-for-killing-business/#comments</comments>
		<pubDate>Tue, 14 Oct 2008 16:00:44 +0000</pubDate>
		<dc:creator>TK</dc:creator>
		
		<category><![CDATA[Economics]]></category>

		<category><![CDATA[General Business]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=71</guid>
		<description><![CDATA[Government can do one of two things to business, it can expedite its growth by creating an environment with low taxes and minimal regulation or it can make taxes, permits, and regulation that are nothing more than roadblocks to entrepreneurs.  On a vacation to Kauai, Hawaii, this simple fact was demonstrated. Kauai is a beautiful [...]]]></description>
			<content:encoded><![CDATA[<p>Government can do one of two things to business, it can expedite its growth by creating an environment with low taxes and minimal regulation or it can make taxes, permits, and regulation that are nothing more than roadblocks to entrepreneurs.  On a vacation to Kauai, Hawaii, this simple fact was demonstrated. Kauai is a beautiful island known as the &#8220;Garden Island&#8221;, and it is luscious, green and magnificent.</p>
<p>On Kauai, there is the <a href="http://www.kauaicigar.com/">Kauai Cigar Company</a>, which was born out of the <a href="http://www.blairestatecoffee.com/">Blair Estate Coffee Farm</a>.  According to the marketing brochure for the cigar company, the company is a place where &#8220;diversification and expansion are part of the intrinsic spirit.&#8221; You can read this to mean that they are an entrepreneurial group of people that run the company/farm.</p>
<p>But what really hit home was a message that you find later in the same brochure: &#8220;While it took nearly 6 months to obtain a federal permit to manufacture and sell cigars, the reporting, bi-monthly federal taxes, and whopping nearly 40% Hawaii wholesale tax made it financially impossible to hand make cigars in Hawaii.&#8221;  So what did these entrepreneurs do? They found a company in Nicaragua to roll and manufacture the cigars.  While a testament to the fact that the world is flat and that entrepreneurs will not be stopped by government silliness, it also demonstrates the backward thinking of many governments.  Instead of having jobs in the U.S./Hawaii for this work, the Kauai Cigar Company ships their cured tobacco from Hawaii to Nicaragua and then back to the U.S.  While we can congratulate them for their creativity and ability to make their business work, we have to shake our head at the stupidiy of the Hawaiian and U.S. governments.</p>
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		<title>Your Brand is Always On Display</title>
		<link>http://blog.wasabiventures.com/your-brand-is-always-on-display/</link>
		<comments>http://blog.wasabiventures.com/your-brand-is-always-on-display/#comments</comments>
		<pubDate>Tue, 30 Sep 2008 16:00:25 +0000</pubDate>
		<dc:creator>TK</dc:creator>
		
		<category><![CDATA[General Business]]></category>

		<category><![CDATA[Marketing]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=62</guid>
		<description><![CDATA[I am not much of a &#8220;brand marketer&#8221;.  I am a firm believer that the only point of marketing is to expedite the sales process.  Too many marketers think that their job is to build a brand.   But branding is just one minor aspect of marketing, especially technology marketing.   In my opinion, brand is built [...]]]></description>
			<content:encoded><![CDATA[<p>I am not much of a &#8220;brand marketer&#8221;.  I am a firm believer that the only point of marketing is to expedite the sales process.  Too many marketers think that their job is to build a brand.   But branding is just one minor aspect of marketing, especially technology marketing.   In my opinion, brand is built by every aspect of the customer interaction.   And I saw this demonstrated to me again in an airport meal.</p>
<p>I am a burger fan.  I absolutely love the great American meal of a hamburger.  And one of the better chain places to get a burger is <strong>Fuddruckers</strong>.  So, when I was in Logan Airport this past week, my wife and I were hungry and stopped at a Fuddruckers.  My darling wife ordered a Caesar salad, and I ordered a big fat burger with a fried egg on top of it.   Unfortunately, the burger did not live up to my expectations as it was overcooked, undermeated, and generally disappointing.</p>
<p>As my wife and I ate, we discussed the fact that Fuddruckers was living dangerously by having a restaurant like this at an airport.  If I had never eaten at a Fuddruckers, I would think this is what they were all like.   Would I come back?  Doubtful.</p>
<p>In my world, this is branding.  Give your customers a great experience, and they will associate that with your brand.  They will tell their friends, and your success will perpetuate itself.  Branding is not a marketing effort.  It is a whole company effort.  You don&#8217;t have to spend money to brand, you just have to deliver a great product and service.</p>
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		<title>Entrepreneurial Archives</title>
		<link>http://blog.wasabiventures.com/entrepreneurial-archives/</link>
		<comments>http://blog.wasabiventures.com/entrepreneurial-archives/#comments</comments>
		<pubDate>Thu, 25 Sep 2008 23:24:22 +0000</pubDate>
		<dc:creator>Michele</dc:creator>
		
		<category><![CDATA[Entrepreneurial Archives]]></category>

		<guid isPermaLink="false">http://blog.wasabiventures.com/?p=67</guid>
		<description><![CDATA[The Board of Advisers at Wasabi Ventures has been in this business since the early &#8217;90s.  Therefore, they have a knowledge base that extends over the years.
As a new addition to Tales of the Entrepreneur, &#8220;classic&#8221; articles written by members of our team will be posted in condensed versions with links to the full articles.

 [...]]]></description>
			<content:encoded><![CDATA[<p>The Board of Advisers at Wasabi Ventures has been in this business since the early &#8217;90s.  Therefore, they have a knowledge base that extends over the years.</p>
<p>As a new addition to Tales of the Entrepreneur, &#8220;classic&#8221; articles written by members of our team will be posted in condensed versions with links to the full articles.</p>
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