What is Crowdfunding?

Crowdfunding provides a new way to finance a fledgling business using the power of the internet specifically. Entrepreneurs will be able to raise up to $1 million dollars per year (capped at $2 million total) through SEC-registered crowdfunding platforms (i.e. – CircleUp, Crowdfunder, WeFunder, etc.)

Limitations

These investments have limits. If your income is under $100k/yr, you can invest a maximum of $2,000 dollars. If you make more than six figures, your limit is $10,000 dollars. Also, the new bill increase the maximum numbers of shareholders of a company before an IPO is required from 500 to 2000.

Room for Fraud?

Opponents of this bill state that the “deregulation” will increase the potential for fraud. It just so happens that Crowdfunding is legal in the UK, with CrowdCube reporting “zero fraud.” While I certainly don’t propose that fraud will never happen, I think it’s important to note that Crowdfunding is not rocket science, and is being implemented outside the US.

Community funded Startups?

I think this new bill has the potential to encourage the average person (with a little $$) to become more involved in a startup. For example, a neighbor may have a great idea, a solid prototype, and the brains to get the job done – I should be able to invest and be a part of his/her success (or failure.) Businesses start small, and a passionate group of early adopters has the potential to collaboratively bootstrap the company as it grows.

My Experience

My brother and I are currently working on a startup, and we are in the midst of a business competition, with the winner receiving $5,000 dollars in cash. While this amount may seem minuscule, it’s the difference between a prototype and a fully operational business. Sure, we could apply for a small business loan, yet if Crowdfunding was in place, it would offer another vehicle to kick start our business.

I won’t bore you with all the details of the event, yet it’s probably a good idea to become familiar with the latest batch of updates (especially if you have tech-hungry teenagers who will try to convince you that this is a necessity.)

The Screen

Have you purchased a 1080p HD television over the past few months? If so, the new iPad has you beat. It has twice the resolution of the iPad 2, and boasts a “retina display.” Put simply, everything displayed on the screen is going to look extremely clear.

The actual size of the screen is the same as the iPad 2 (9.7″), so don’t expect a larger (or smaller) device.

The Processor

Since Apple upped the resolution of the screen, it only makes sense that they increase the performance of the processor as well. The new iPad features a A5X processor, which according to Apple is twice as fast, and has four times the graphics performance.

1080p Video Recording

Remember the time you recorded that concert on your iPad? 

I don’t remember either, but the new video recording capabilities will make those home movies look crystal clear. Better yet, Apple upgraded the camera on the iPad as well (it’s the same camera as the one in the iPhone 4s). Say goodbye to grainy video.

Battery Life

The new iPad has the same battery life as the iPad 2 (10 hours). Perfect for long road trips.

LTE-Ready

I checked around, and Boston is currently the closest place for LTE speeds (Verizon & AT&T). LTE is blazing fast, and has some serious potential to use up your data plan in a hurry.

The Price

The new iPad starts at $499 dollars, which is a hefty price tag compared to other tablets. If you can’t afford it, the iPad 2 price will be $399 dollars ($100 dollar cost reduction). If my numbers are correct, that should save the Auburn school system about $40,000 dollars when they purchase more tablets later this year.

Friends, tablets are not going away anytime soon.

At the moment, you have the option to make the transition, but in thirty days Facebook will force you to change to the new Timeline feature. Let’s take a quick look at the recent changes, and see how we can utilize them to connect with customers more efficiently.

Facebook Cover Photo

The cover photo is a large photograph that should symbolize what your company is all about. It’s a great way to greet viewers, yet Facebook terms of use specifically mention that it should NOT contain a “call-to-action” or encouraging users to “like the page.” Below is a screenshot of the Boston Celtics Facebook page.

These cover photos add “spice” to the page, and enable businesses the opportunity to impress viewers from the very first glance.

Private Messages

In my opinion, the new messaging feature could be the most important change. In the past, if a customer posts an issue on the Facebook page wall, administrators would typically respond and say “Bobby, if you could please email me at ________@brand.com, we will look into it.” While I see no problem with this, the new private messaging streamlines the process of customer service on Facebook.

Businesses cannot proactively message with their fans, but after someone messages/comments, it creates the “line of conversation” between the business and customer.

Post “Pinning”

Post pinning enables your company to “highlight” certain updates that you have made in the past. For example, if you made a major announcement, you can “pin” that post to the top of your business page for a maximum of 7 days. This is a great way to gain extra publicity.

Milestones

These latest Facebook updates enable businesses to become storytellers. Let’s say your business is family-owned, with a unique history – the new changes enable you to display this history in a meaningful way. Macy’s has already made the change, and has incorporated a milestone for the founding of the Thanksgiving day parade.

Admin Dashboard

Although this latest change is behind the scenes, the new admin dashboard enables page owners the ability to manage their Facebook presence from one location. It’s a very nice addition, and makes life a little easier for business owners.

Where did the Tabs Go?

Facebook Tabs are now located in a different position – which is bad news for businesses who generate leads with “custom tabs.” In fact, these latest changes will undermine the effectiveness of many social media marketers. In the past, a special graphic will encourage users to “like the page” for a discount….this is no longer possible.

Put simply, Facebook is trying to create a level playing field for all business owners (and force businesses to buy Facebook Ads). Tabs are still available in the new Timeline, yet I expect a huge decline in overall usage.

Have Questions? Comment on this post and let me know! For my extended thoughts, check out another Facebook Timeline blog post.

Sure, you probably don’t have the resources to setup a website, develop a marketing plan, and start attracting tourists, but you don’t need to!

It’s time you met Airbnb.

What is Airbnb?

Airbnb is a social website that connects people who have space to spare with those who are looking for a place to stay. Through their experiences on Airbnb, guests and hosts build real connections with real people from all over the globe.

Guests gain access to unique and distinctive spaces and immerse themselves in the culture of their destinations. We call that traveling like a human! Hosts can effortlessly showcase their spaces to an audience of millions, whether they have an urban apartment or countryside castle.

How does Airbnb work?

Curious about how everything works? Watch this video below!

What I like about Airbnb:

There’s always risk and uncertainty when staying in a new location, so that’s why Airbnb has attempted to make the process of booking a room as transparent as possible. If I am unsure about the host, I can contact them. If the host is wary about a prospective “renter”, then they have the opportunity to turn down the offer.

In addition, If I stay in a certain location, I can then rate and review my experience to the rest of the Airbnb community. This creates a “circle of trust” among users and hosts. If you are still concerned about the process, the $50,000 dollar guarantee in the case of theft or vandalism.

 In Conclusion:

If you aren’t a little daring, this service probably isn’t for you.

A hackathon is a positive, creative event that can serve as the catalyst to turn ideas into prototypes, products, or even companies.  Think of it as a computer programmer’s conference.  A hackathon would be attended by software engineers, builders of mobile applications, and other tech-savvy types.  At a well rounded event you would also see graphic designers and entrepreneurs.  Some people would come with only a vision of a product they would like to create, or a challenge they would like to overcome with technology. Everyone works together at a sprinter’s pace to produce a new website or application by the end of the event.

There are already many people in Maine that work remotely for companies located out of state.  I am one of those individuals and I keep meeting more people in my situation.  I have been programming professionally for 6 years now, and recently decided that I needed to refresh my understanding of the industry.  Attending my first hackathon, I thought, would be an excellent step toward that goal.  Back in November, I took that step with my cousin as we drove down to Music Hack Day Boston.  It was an adrenaline filled weekend of high energy, nerdy collaboration.  I got a taste of the excitement of creation and the agony of failure.  All in all, I got to connect with a lot of passionate programmers, try out some new technology, meet with several companies in the digital music space, and I learned quite a lot along the way.  It was a transformative experience.

This first hackathon has inspired me to create one right where I grew up: in and around the towns of Veazie, Bangor, and Orono.  As far as I can tell it would be the first of its kind, but I know this area is ready.  It’s my instinct, or perhaps naive belief, that there are a lot of nerds around here, and if we could only connect with each other we’d be able to create something great and do it locally.

If you share this belief or would like to see a positive technology focused event take place in our region, please join our group on Meetup.com.  Our first meeting is this Tuesday @ 12:30pm downtown at The Bagel Shop.  If you’d like to participate but can’t make that one, there will be another (same time, same place) on Tuesday March 20th.  I’ve created a second group that is just for the programmers.  That’s called Hacker Club and you can also follow us on twitter.  The first Hacker Club meeting will be held at Books-a-million (BAM) Tuesday night at 6pm.

Background

Steve Blank authored “The Four Steps to the Epiphany” and will be releasing a new book called “The Startup Owner’s Manual” in March. He also was very influential in the concepts discussed in the award winning book “The Lean Startup” authored by Eric Ries. In February, he will be teaching a FREE online class called “The Lean Launchpad.”

Support Local Entrepreneurs

It’s easy to complain about the job situation in Maine, but there are many startups in your community that would love your support. If you have any interest in starting your own business, this is an event you shouldn’t miss.

Where to Attend:

Portland:
34 Bedford Street
Wishcamper Center
rm 133, Lee Hall,
USM Portland Campus
774-8111

Gorham:
37 College Avenue
Rm 223 Baily Hall
USM Gorham Campus
774- 8111

Orono:
Rm 102 Innovation Center
University of Maine , Orono
581-1454

Rm 215 Donald P. Corbett Hall
University of Maine , Orono
581-1454

Too far away? Find a location near you.

Put simply, this is an anti-piracy bill that allows intellectual property owners the ability to shut down a foreign website based on a copyright claim. While laws already exist (The Digital Millenium Copyright Act), this bill goes further..

The difference is that these intellectual property owners can request that the infringing website be removed by simply creating a “blacklist.” For example, if I posted a link on Facebook to a website that was on this blacklist, Facebook would be forced to remove it.

In the case of Wikipedia, if they accidentally linked to a website on this blacklist, then they might be forced to shut down the entire website. In addition, content providers (Youtube) or payment processors (Paypal) would be forced to remove content without a single court appearance or judicial sign-off. This is all based on “good faith.”

Piracy is wrong, and should be stopped, but should the internet be changed because it doesn’t fit your business model? The music/film industry has changed dramatically over the last decade, and sites like Spotify and Netflix are offering legal content to consumers, and are very successful at it!

If you are interested in opposing the bill, don’t post a link to this article on Facebook or Twitter, but instead contact the people who represent us in Washington. 

Give them a call:

Mike Michaud: 202-225-6306

Susan Collins: 202-224-2523

Olympia Snowe: 202-224-5344

Sign the Google petition as well!

I’ve been spending quite a bit of time recently trying build up my ranking on search engines when someone types in “Luke Thomas.” I’ve been researching online tools that measure a website’s effectiveness, and want to pass them on to you!

Hubspot Website Grader

I’m a big fan of the Hubspot Marketing Grader, all you need to do is input your website URL, and Hubspot will do the rest. I recommend this tool because it takes into the account the many features that your website should have (blog, mobile optimized, metadata tags, etc). It’s a very simple process, and gives you actionable steps for improvement in less than a minute!

Pingdom

This next tool is a little more advanced, but the purpose of Pingdom is to measure the speed of your website. For novices, don’t worry if you don’t understand everything, simply focus on the percentage compared to other sites, as well as the site loading time. Ideally, a website should load in under three seconds.

Open Site Explorer

In the online world, your position in Google searches revolves mainly around which websites link to you. For example, if a company was featured on the frontpage of the Boston Globe, it notifies search engines that you are a “reputable source.” Open Site Explorer is another more advanced tool, but it allows you to see what important sites link to your online presence.

Google Analytics

If your website isn’t connected to Google Analytics (or something similar), you are missing out on some valuable data. Google Analytics will track how people found you, the keywords that they searched on Google, how many people visit your website, and a plethora of other information. Overall, this is  the most important tool for your website.

W3C Validator

This tool measures if your website is built to correct standards. As the web evolves, so does the code that is used to build your website. If your website has many issues, there will be many errors (I’ve seen websites with hundreds of problems on one page). A few errors won’t kill you, but you may need to speak with your webmaster if you find dozens of problems.

Key Takeaways

What do I hope you learn after reading this article? My goal is for you to put focus back on your website – it’s the focal point of your business. Your website will never be perfect, but with these tools, you can see what needs improvement. Have fun!

About Pinterest:

Our goal is to connect everyone in the world through the ‘things’ they find interesting. We think that a favorite book, toy, or recipe can reveal a common link between two people. With millions of new pins added every week, Pinterest is connecting people all over the world based on shared tastes and interests.

Getting Started:

First of all, you can browse Pinterest without signing up and find some nifty content. If you want to start your own “pinboard”, you must request an invite. I personally suggest asking a friend for an invite, or searching on Twitter for people giving away invites.

The next step is to install the Pinterest “Pin it” button in your browser. It’s a very simple process, and I’ve included a “how-to” video below. The purpose of this button is to allow users the ability to “Pin” content they find unique across the internet.

Pinterest has also included different sharing tools into the mix. For example, I could “like” another user’s content. I could also repin (or re-pin) something I found to be unique. Pinterest has also created “Pin-it” and “follow” buttons for people to embed on their website.

Why Pinterest is Awesome

I expect huge growth this year, simply because the site is based around finding and sharing great content. Instead of searching for great content, Pinterest is about discovering great content across the web. Oh yeah, did I mention it’s growing as fast as Facebook did in 2006?

Another great aspect is that credit is given to the author of the content. I’m sure people plagiarize content, but it’s nice to see “Pins” linking back to the original author. Overall, I’m looking forward to watching the continued growth over the next year.

Anyone using Pinterest? What are your thoughts?

I’ve seen my share of special offers* and misleading advertisements. I’ve also seen marketing used to benefit local non-profits and the community at large. I’ve been particularly impressed with Bangor Savings Bank. They get it.

Let’s review a few articles over the past few years:

1. Troop Greeters say thanks to Bangor Savings Bank
2. Portlanders get free parking for a day
3. (Today) Free Copies of the BDN offered in Portland
4. Bangor Savings Bank recognized for small business lending
5. Time to Cast Ballots for Community Matters More

I’ve seen marketing messages for corporations like Bank of America, Key Bank, Wells-Fargo, and I’ll be the first to admit; they are boring. Banking is general is pretty uneventful, yet Bangor Savings Bank has created a connection with the community, something much stronger than a new iPhone app, or ATM machines that deposit checks (although that’s pretty cool). For a perfect example of what I’m talking about, watch this video below.

Naturally other banks will try to copy this “community banking” strategy, yet creativity can’t be duplicated. When was the last time your bank offered free lunch? Or sponsored a local movie? Bangor Savings Bank has created a positive impression for me, and I haven’t even opened an account (although that will probably change soon).

Yes, Bangor Savings Bank is doing a great job communicating their mission, but what about your business? Are you spending your hard-earned money on television ads, hoping it will earn repeat customers? Or are you seeking to build a bond with your customers?

Bangor Savings Bank proves to me that even “boring” industries (Insurance, Banking, Healthcare, etc) can make a difference and be unique. What are your thoughts? What local companies are improving the community?