What I learned from the founder of Wikipedia

DSCN1532“I have to say, the exams I had to pass to earn an honorary degree aren’t nearly as tough as the ones you guys had to pass. I did have to write a 15 million page thesis, though. But luckily, other people wrote it for me,” jived Jimmy Wales yesterday as he took the podium in the gymnasium of Stevenson University in Baltimore, Maryland.

As keynote speaker in the 57th graduation ceremony for the small, liberal arts school, we expected Wales to lay some experiential wisdom on us, offer a metaphorical pat on the back, and leave us with inspirational insight as we embark on the harsh realities and unprecedented opportunities of the real world. You know, the typical graduation stuff.

“Luckily, the president just gave you that stuff. I’m a lot less fancy,” said Wales, as he adjusted the freshly bestowed hood and medal signifying his honorary doctorate degree from Stevenson. Less fancy? Yes. But inspirational, practical, relevant and entertaining? Definitely! The crowd loved him. And as a group of graduates in which many admit to be graduating only because of Wikipedia, we were compelled by his advice.

Listening to the stories of his numerous missteps, a few accidental successes, and a passionate, entrepreneurial spirit, I was comforted and inspired by what Wales has proven – the notion that one good idea that brings people together, built on social interaction and interdependence, can grow, and it can change the world. But also that failing is part of the process, and not every idea will make it big. Even Wikipedia guy has had some blunders.

Here’s what I learned about being successful from Jimmy Wales, the guy who changed how we see, use and interact with the Internet, and how we learn:

The BIG ideas don’t always work. He had three brilliant ideas. They all flopped. His first attempt at social revolution was trying to start an online food ordering system. The Internet service would connect downtown lunchers with area restaurants, and prevent the need for leaving the office during the lunch hour. It failed. Wales said restaurant owners looked at him like he was from Mars when he talked to them about the Internet in 1996. Continue reading

How to go BIG like Associated Content did

You’ve heard of Yahoo, right? How about Associated Content? Well, you will soon.

Yahoo, the world’s largest online media company – you know, the one that’s destination for more than 600 million unique visitors every month – just bought Associated Content, a media company barely six years old but worth more than its weight in SEO keywords. Actually more than $100 million, to be exact. Wowza!

For a startup that’s still in its formative years, that’s not half bad! Associated pays freelance writers for content on any subject imaginable, and then advertisers pay to have their brands linked to the articles – a little idea that creator Luke Beatty came up with and called “search advertising.” Brilliant! Continue reading

When Bargain Shopping Meets Business

I admit it proudly and without hesitation – I’m a bargain shopper. For as long as I can remember I’ve lived under the mantra that most things aren’t worth my money at full price when I can get them somewhere else on sale. And while I’ve spent most of my life checking price tags, I’ve noticed more comradery in the bargain world lately. While college graduates move back in with their parents, working families opt to carpool, and the Salisbury steak makes a comeback, home life minimalism starts to reflect the increasingly barren business world. Continue reading

Stop Being Reactive and Start Being Proactive.

In 2009 we were all reactive, right? We waited for something to happen, poised and ready to react to whatever came along. We saw many giants fall, many jobs get cut and little money get spent.

What happens when a huge tree falls in the forest? Well, a couple of things happen; it may take down or damage a few of the big trees that surround it on its tumble to the ground. However, it definitely creates an opening for sunlight to shine down on the smaller trees. The strongest, best prepared sapling now has the opportunity to grow into the mighty tree that once stood there. Usually more than one shrub benefits from a fallen shadow-caster.

What can you take from the example of the fallen tree? Was your business in the shadow of a larger competitor? Has one of your competitors shown obvious signs of trouble? If your competition is falling behind, Continue reading