Ello launches video and music embedding

The rapidly growing, going-to-turn the industry on its head Ello has released music and video embedding into its service. I am normally not very scathing about any product, so long as I believe that product is really introducing some new idea. It doesn't need to be the best idea ever. The product doesn't even need to be ready to actually make good on its promise. It just needs to have an idea. This is where Ello failed my test. Ello's main problem was that they were trying to "redefine" the social media world with no brand new concept. Ello's main concept was that they were basically the Facebook without ads. How is that different? How is that unique? How is that a real idea? No, they are harping on a trendy problem, one that hasn't really affected people, and trying to center their entire product around it. Were they providing a different experience? Were they even trying? Ello rallied those who were annoyed about ads. But as quickly as it rallied those people, it lost them. It never gained any traction because it didn't offer a new perspective. It basically said its main concept was to create the "non-ads Facebook." It will not be the last startup to try this, but it will also not be the last to fail. I just hope that there are "real" entrepreneurs out there who learn from the mistake of "thinking outside the box but right up against the box."

Why Create What You Create?

I have had a hard time understanding how some have become the leaders of their industries. Just think about it. There are so many competitors doing the same things. They are doing it with the same amount of quality and effort. So then how is it that there is usually one that emerges victorious from the pack? The idea that people are creating something different may be completely off. Most of us are trying to innovate upon ideas that have already been created. So how can you innovate? This talk is about explaining how the understanding of the why may be the most important thing to making your product successful. It is not the product’s process that is radically different, rather the message or belief behind it that is. It is this belief that will give the product its real value, and its real differentiation. It is this “why” that will make your customers believe that they need to spread your product. Think about it. Why do you spread the news of a new product? Yes, you may think, at first, that it is because the product is pretty good. But how many products out there are pretty good? Would you go around spreading all those things around? Probably not. The real reason that products are spread is because that product’s message somehow resonates with you. Once you believe what they believe, you feel an urge to spread that message. And likewise, your message becomes much easier for your friend to really understand why they should spend time/money to do what you ask them to do. Frankly, I really liked this video. I thought that he really got to the most important part of everything a company does. Entrepreneurs talk about how can they differentiate themselves, but lets be honest, what most people do is similar to what others are trying to do. Take the example of Coca-Cola: What does Apple do? => They sell computers. How do they do it? => They hire the best engineering and design talent that they can find, and produce a lot of minimalist designed products.

Data shows you will over 90% all of your users in 7 days

These days everyone is going mobile. Everyone is no longer trying to figure out what they need to concentrate on. It is clear that we need to focus on mobile apps. But because everyone seems to have figure that out, it has created another problem: there are too many darn good apps out there. Some of you may wonder how is that a new problem. Well, actually it is a major problem because all these good apps are fighting for the attention of basically the same people. And unlike the number of apps, which is infinitely growing, the amount of hours that a person has in the day is always the same: 24. In other words, the amount of good apps is making it hard for someone to keep focused on 1 good app. So users are being constantly distracted, and good apps, even after they get their users, are being forgotten. This article does a very good job at painting the reality that marketers are now facing. Retention rates are dropping. And they are dropping FAST! In May 2013, the average 7 day retention rate was 23%, while in May 2014, the rate had dropped to 10%. That means that if I get 1,000 users today (Sunday), next Sunday I will have only 100 left. That is sad. While marketers are getting better and better and getting users, they are having a harder and harder time to keep them. These days, the name of the game is mobile. And if you want to win that game, you better figure out how to keep those users that you fought so hard to get.