Company Creation and Branding

This week’s issue highlights a few lessons I gleaned from an interview Jason Calacanis had with Rich Barton — the founder of Zillow, Glassdoor, and Expedia.

I listened to this podcast episode several months ago, but I keep coming back to many of the insights, so I figured it was worth documenting my takeaways — most of which come within the first 25-30 minutes of their conversation:

Here are the key points I’ve been reflecting on… I hope it helps you on your journey.

At a Glance:

• Rich’s company creation philosophy

• The importance of tension

• Branding 101: how to create a memorable name

• The power of provocative questions

Look Back:

The commercial that inspired Rich’s company creation philosophy

The original Mac ad debuted during the Super Bowl in 1984 and only ran once.

Directed by Ridley Scott, the 60-second ad was inspired by George Orwell’s novel 1984 and used powerful imagery and metaphors to portray Apple as the liberator from a dystopian future (a disguised jab at IBM).

In the podcast, Rich describes how this ad played a big role in how he built his companies and continues to be a great playbook for startups to use today.

Rich goes on to describe his approach in more detail:

• Focus on a complicated industry where the data is really obscure.

• Then make transparent products that give power back to the people.

Look Forward:

Tension as an opportunity

While many avoid tension, Rich recommends leaning into it.

Tension is an indication of attention + importance.

I thought this was a simple, yet thought-provoking, way to frame it.

Rich agreed with Jason, and piled on that “if there’s no tension, there’s nothing interesting… just like when you’re telling a story, there has to be tension… that tension has to be released, and that’s what a story is.”

So how can businesses capitalize on tension?

Rich says you’re digging in the right spot when you can really get emotionally involved with your customer with the product, but also be super pragmatic at the same time.

It’s an “interesting intermingling of the kind of titillating and the pragmatic, which is a wonderful sweet spot to be if you’re building a consumer product.”

Focus:

Practical tips for branding

To create a memorable company name, Rich recommends:

• Keep it to two-syllables.

• Incorporate letters that would score high in scrabble since they’re more memorable (Z, Q, X, J, K).

• Make up your own word. While it’s harder in the beginning, you’ll have the opportunity to “own” the word as you grow.

Here’s a link to Rich’s blog post from 2009 that breaks down his advice in more detail: Syllables, Scrabble Letters, and Picking Brand Names.

Zoom Out:

Creating breakthrough new product ideas

Rich also talked about the power of using provocative questions to get to truly differentiated solutions.

In Zillow’s case, Bill Gurley asked Rich: “What would you build if you had a $0 marketing budget?”

That question led to the Zestimate which was a game-changer for the company.

Great reminder that no question is too provocative. Even if it doesn’t directly lead to the answer, it can reframe your perspective to help create differentiated solutions.

Be Centered:

A quote to ponder

As you build your personal brand and/or company brand, what are you most focused on?

What do you need most now?

Thanks for reading!

Until next week, keep growing »

Scott​

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