I am leaving in an hour for my annual trek to the ISE show in Amsterdam. While I love Holland, having lived and worked there for a year, and while the ISE show has really developed in the last few years, I must admit I am dreading the trip. The good news is, I have a direct flight from Portland to Amsterdam. The bad news is, I will be sitting in my economy seat for 10 hours and 50 minutes. My butt hurts just thinking about it.

My colleagues are flying United, for the miles, but their flights just got scrambled so they will fly PDX - O'Hare - Frankfurt - Amsterdam. They'll be traveling 8 more hours, but perhaps the business class seats will make up for it. 

In a way, these business travel challenges are something of a metaphor for the journey of starting a businesss: In the best of cases, it takes a long time and is painful. In the more likely case, nothing will go as planned and the arrival will be invariably delayed, often through no cause of your own.

We at Vertigo Digital Displays are learning this lesson in spades as we enter a new year of our business "re-startup". After a tremendously successful Manhattan Showcase where we demoed our product and showed our high-brightness prototype to 17 prospects, we are slammed with RFPs and quote requests. Our European meetings with OOH media giants there encouraged us to believe we'd be as busy as we can get, beginning somewhere around Q3 (but we all know Europe takes the summer off, so I'm thinking September). We have wall-to-wall appointments scheduled for our Technology Suites at ISE, and have started booking similar meetings for our suite at DSE. But if we booked an order immediately, it would be April or May before we see any receipts from it...everything just takes soooo long.

At times like this, it's tempting to get a little panicky. Maybe think about re-jiggering the strategy, partner with companies and people you'd otherwise avoid, make bad deals for short-terms gains. Lose focus. I am going to do my best to avoid this trap.

Make no mistake, I'll be very busy on that 11 hour flight. Polishing up my deck, finishing my SID article, writing innumerable emails that will all be burped out on my arrival in AMS. I will squeeze every part of the balloon I can get my hands around in order to try and compress that time from now until the factory needs to add people and the bank balance carries another comma. I just wish it wouldn't take so long. Thank goodness I have that inflatable pillow to sit on, so maybe it won't be quite so painful....

As I write this, I am literally hours away from embarking upon the most rigorous and extensive travel period of my 25+ year career. I leave Portland, Ore. at 7:40 am tomorrow for London and Paris, returning Saturday night to Portland. My shortest trip to Europe ever. I am home for 36 hours then board a plan to Taipei and over the next three weeks go to Asia, the Middle East and end up in Amsterdam for my annual trip to ISE. I get home on Feb 6 after literally circling the globe only to have additional trips to NYC and Las Vegas before February is done.

When I share this with people (not to brag, but to psyche myself up), I get either "You're so lucky" or "Why on earth would you subject yourself to this?" Guess which of these is from the seasoned business traveler?

Well, we are now in 2010 and I have a number I need to hit. We need to get projects in the funnel and customers in the pipeline. While I have developed entire companies around direct response outbound marketing and call centers, this business is not like that. To do business with the big-boys of the Out Of Home industry, you need to be face-to-face. To close a deal in the Middle East, they need to meet you and break bread. And of course, if you want to meet 50 or 100 prospects in three days and show them what you've got, you must do the tradeshows.

So I am doing it. All of it. All in three and a half weeks. Why? Because I have a number to hit, and that's the best way to get the ball down the field fast. Travel to the customer, meet the customer, deliver the pitch, ask for the order, repeat.

For those of you out on the road with me, you know what I am talking about. If you are in London, Paris, Taipei, Tainan, Doha, Dubai, Amsterdam or Portland between now and February 5, drop me a note. I'll buy you a beer and we can talk about home.

 I apologize for being a bit negligent in maintaining this blog. My New Year's resolution is to fully embrace the social media oeuvre through a disciplined regimen of blogging, tweeting and LinkedIn-ing (?). I hope my thumbs are up to it.

Current status for our Vertigo Re-launch is that we are pulling out all the stops in 2010 to expand awareness for the business as well as to broaden our customer base and target markets. We've re-positioned our products to try and capture more opportunities with fewer products in order to reduce costs and become more price competitive. We are already very competitive, but in the world of customized DOOH displays, everything is relative.

We were recently asked to bid for a project where the customer had speced in a new outdoor display with integrated PC and touch screen for a ridiculously low price. Surprise-surprise, for some reason the manufacturer just could seem to ship the product and came back to the integrator for more time and more money. When we quoted a price that was far more than the original supplier's quote, we didn't expect to win the business (and so far we haven't) but at least we are setting realistic expectations for value in the marketplace.

It seems to me that this is something of an issue for the DS industry in general. Setting realistic price and value expectations in a market where software companies are offering their products for free and where network operators and some new media companies expect the hardware companies to provide their very expensive gear in return for the marketing value of exposing their brand, is a challenge. There's a real disconnect regarding value.

The established media companies, like Clear Channel, Lamar, Titan and JC Decaux (et al) get it - they budget millions each year to support and deploy new digital technology and, while hard negotiators, are willing to pay for reliability and quality. These are the kinds of customers we want. Their business models are as challenged as anyone's in this economy, but at least they aren't expecting us to give them our stuff for free.

So, as we charge into the new year, let's all work together to sell more or our stuff for more money while delivering such value and reliability that our customers will be thankful they have found us. Not exactly a strategy, but a fine aspiration. Cheers & happy New Year.

Brad

As we speed into the Thanksgiving weekend, hurtling towards what looks to be one of the more interesting holiday seasons in my lifetime (Economic Recovery: Are We There Yet?) I find myself repeatedly reminding myself of the things I am thankful for. Of course the list starts with all of the usual personal and family blessings - I am sure your list is much the same - but then I also try to take stock of the professional and career benefits and advantages I enjoy and tend to take for granted.

I've managed to put one of my three kids through college (almost)  and build a fairly comfortable lifestyle during my 20-something years serving the ProAV and Digital Signage industry. Other than a brief stint in the air conditioner business (I worked for Carrier for about 18 months right out of college before joining Eastman Kodak) I have been building and selling equipment that is used for visual communications for my entire career. It has been an interesting and fun ride, and I've accumulated many amazing friends and colleagues along the way.

As my partners and I struggle daily to build our new business from the parts and pieces of the previous company, it really does feel like we're building an airplane while flying at 30,000 feet (or sometimes much lower altitudes). One thing that is great about it - besides the occassional hard-fought customer win after late nights and too much coffee - is the knoweldge that I am surrounded by a dedicated, positive, capable team of folks who are pulling on the same end of the rope that I am, sometimes even harder than I am. As an entrepreneur and business person, that is absolutely JOB #1 - surround yourself with the right people.

So, Scott, Ralph, Chris, Kim, Scotty, JB, Brian, Yung, Brian, Till, Sue, Bryan, Marwan, Andrew, ...you get the idea...Thanks, and Happy Thanksgiving!

When the folks at DSA invited me to participate in the new “Blog” concept for the association, I’m afraid I reacted as I often do when presented with most new opportunities – I said “Yes” first and only then started to think about the obligation and the angle. As I now think about how to add-value to the Digital Signage conversation and offer thoughts and insights that anyone else might read,  I took stock in who I am, what I do and where I am right now. The title “Notes from a DS serial entrepreneur” was literally the first thing that popped into my head. As I write this, I embark upon the daunting task of helping some smart and capable guys re-start and re-establish my latest new digital signage company – Vertigo Digital Displays LLC – and my colleagues and I are in the midst of an endless checklist of “#1 Priorities” associated with the start-up.

My thought was that perhaps as we tackle these innumerable details, some mundane and some awesome, perhaps our insights and approaches might give ideas and inspiration to others (or not). In my experience, I eat this kinda stuff up. I’m a big believer that the “wheels and mousetraps” that have already been invented work great, but riffing on these great ideas and differentiating them to make them our own is where business success comes from in a hyper-competitive, Web 2.0, 24-7 realtime global business environment. If this stuff does strike a chord or generate questions, or peg your BS-meter, for gosh-sakes SPEAK UP. Drop a quick comment. Thoughtful and productive is better than a glib throw-away, but we’ll take what we get. As I try to steer this ship, both the new business and the blog, I need both iceberg spotters and interested passengers, if you know what I mean.

Episode 1 – It’s the little things…

Who knew how hard it would be to buy a company in Canada? Not me. The things we were most concerned about – suppliers, customers, employees, products – that we worried about and spent most of our due diligence time on, all passed our sniff tests with flying colors. Things we tend to take for granted – corporate structure, bank account, insurance, phone & internet services – seem to be the items that are still on the to do list at the end of each day. There’s no way to overstate the importance of having a dedicated, flexible lawyer who knows our business goals, can roll up her sleeves, go toe-to-toe with those who would slow us down and take our (limited) money. If you don’t feel the same way about your “counsel”, perhaps you should be looking for a new one, because they are out there.
Vertigo Digital Displays specializes in design and manufacturing of integrated digital display solutions for OOH Media companies like Clear Channel, Lamar, Titan, CBS Outdoor and others. That being said, this is a small company that serves a niche market of a niche market. Our claim-to-fame is creating custom-designed LCD display solutions for outdoor advertising and information applications such as rail platforms and digital bus shelters. We provide these products as an OEM, and typically in response to some sort of open bidding process.  I’ll try not to make this a sales pitch or bore you with the details, but I felt this description was critical to understanding where I am coming from.

Episode 2 – Managing to the “Nut”

Like all start-ups, we have no money. Ok, not NO money, but no REAL money. We are bootstrapping. Who in this industry hasn’t been there? The key to surviving the early days of awaiting that first big project, or that angel funding, is to recognize that you have no money and ACT like you have no money, but not LOOK like you have no money (at least to customers and potential investors). There’s a fine line between being fiscally responsible and appearing desperate. I like to think of myself as a “thin-carpet” entrepreneur – fancy offices with new chairs and thick carpets make me nervous (unless they belong to your biggest customer.)

Any “successful” entrepreneur (ie- still in business and growing after year three, or with a successful exit after year five) must be good at two of three things, in my opinion:

1.    Raising money (usually pre-revenue, difficult these days)
2.    Landing customers (usually before the product is shipping)
3.    Managing to the “nut” (do you know what your “nut” is?)

I would argue that 1 & 2 are more art than skill, and #3 is an essential skill to start-up survival (and the #1 reason for business failure). Known as under-capitalization, or running out of cash, or failure to manage to cash flow – not managing to the nut will kill your new (or existing) business if you are casual about it.

OK, how many of you are saying “This is so basic, everyone knows this.” Yeah, maybe this is a bit of Start-up 101. All I can say is that if you do not know what your nut is (cash required to fund operations and the source/forecast for obtaining it), there’s an iceberg on the horizon my friend.

Episode 3 – Building your own runway

I talk with other entrepreneurs every chance I get. I take them to lunch, I buy them coffee. I send them LinkedIn notes asking for an update ad nauseum. What I want to know mostly is – how and where are you finding business and customers? In my previous episode, I gave you my three skills for a successful entrepreneur:

1.    Raising money
2.    Landing customers
3.    Managing to the “nut”

I must admit that I most enjoy and am most successful at #2 – Landing customers. One of my unofficial mantras is “nothing happens until somebody sells something”. Lots of people can identify prospects, qualify leads, get a meeting, present and propose until the cows come home. To be a successful entrepreneur you need to be able to get the fish in the boat. The signed PO, hopefully with a nice deposit, often for a product you have yet to deliver. People who can do this well, those who truly understand the difference between being in sales and SELLING, I revere these people. You know people like this. They’ve probably sold something to YOU. If you are fortunate enough to have one working for you, “play ‘em & Pay ‘em”. If you don’t yet have that guy who delivers on their sales forecast, somehow, every month, and has been doing that wherever they’ve worked. Find one, soon. Thank me later.

As a new contributor to this site, I thought it might be helpful to devote this first article to my foundational beliefs, prejudices, thoughts and hopes around what we in the business refer to as "the Digital Signage Industry." In this way, I feel I can position this contribution for you, the reader, as well as establish my pedigree, so to speak, on why you might spend any of your valuable time reading what I have to say. This could be a dangerous strategy for a first column, but I feel compelled to give you "fair warning."

• Wal-Mart and PRN announce expansion of the Wal-mart TV network
• 3M acquires Mercury Online
• Thomson acquires PRN and Convergent
• Cisco acquires Tivela
• Planar acquires Clarity Visual Systems
• Target, Bank of America, Chevron (insert major brand name here) launch digital signage networks
• Both Arbitron and Neilsen have active measurement programs to gauge the effectiveness of digital signage
• IBM and Google host Keynote Presentations at 2007 Digital Signage Expo

• SeeSaw Networks emerges as central clearinghouse for digital signage advertising on non-homogenous networks
• Wireless Ronin goes public and establishes $90 million market cap (on less than $3 million sales)
• Ripple lands a full page article in USA Today for its Coffeeshop Network
• No less than three companies are competing for the gas-station-pump-top digital signage market
• DS-IQ provides analytics middleware to dynamically measure and improve the effectiveness of digital signage networks and content