Foo Fighters Fans Crowdsource an Unscheduled Concert

Photo: www.monstersandcritics.com

Some might call it the ultimate pull strategy. Others would view it as the 21st Century version of the Field of Dreams mantra: Build it and they will come.

A group of ambitious Foo Fighters fans in Richmond, Va., decided in March to launch a Crowdhoster campaign designed to get the band to play a gig in their city.

They noted in a clever video that the band hadn't played a show in Richmond since the late 1990s. That is quite an absence, particularly when one realizes that Dave Grohl, the band's founder, grew up in Northern Virginia.

The terms of the group's campaign? Fans could pledge $50 for a ticket (with a maximum of six tickets). The funds would be refunded if the band turned down the offer. If Grohl decided to come, the group promised that supporters would have their "faces melted by the best band in the world."


Here is the group's short video:

In three months, the group collected more than $70,000 from 515 backers. Local radio station XL102 signed up to drum up interest. Two businesses, Brown's Volkswagen and Sugar Shack Donuts, chipped in $5,000 each, agreeing to give away their tickets. That is, if the band would show. The very public challenge had been made.

The crowdsourcing world should be rejoicing after the Foo Fighters tweeted yesterday that:

well, well, well...@foofighters_rva @rvadonuts @browns_vdubs @Crowdtilt See ya soon...let's have a good time.#RVA pic.twitter.com/D4e873tXJG

— Foo Fighters (@foofighters) June 14, 2014

This is a huge milestone for crowdsourcing because it shows that a savvy group can create demand through innovative market. It certainly helped that Grohl is a savvy guy - the offer and his surprising response are trending well on Facebook and other social media sites. Will their be copycats? I have reached out to the organizers and the large sponsors to see what they think is next for this aggressive form of concert promotion. I will update this post should they respond.

No date has been set for the concert, but one thing is certain. I am going to do all I can to get to the show and, if successful, will blog about the experience. Wish me luck!

Staging a Comeback: Lessons From the Music Industry

I am a pop culture and music junkie. If you were to look at my iTunes right now, you’d realize that I easily have more than a 1,000 songs in my library, ranging from Nirvana/Foo Fighters to Marvin Gaye and the Beatles to Usher. I've been thinking for quite some time about a blog that would tie my obsession with music to business strategy, and I think I have finally found a connection.

Musical trends come and go, frequently sweeping out the old and ushering in the new at a rapid and often unexpected pace. I once read that the average band only lasts five years or less. There are those occasional acts with staying power, and perhaps one day I will write a blog looking at their success. But for now, I want to focus on five musicians who were successful, faded into obscurity and staged a comeback.

Zeitgeist
Green Day seemed burned out after helping lead a punk revival in the mid-1990s. But the anti-war movement in 2004 provided the right environment for rebellious angst, and the trio delivered. The expletive-laden song/rant of American Idiot took not-so-veiled swipes at the Bush administration and other songs clearly fed off of the notion of a jaded population. The album sold more copies than the band’s prior three releases combined.

Reinvent Yourself and Play to Your Strengths
Darius Rucker was a mainstay on mainstream radio in the late 1990s. As the supposed “Hootie” in Hootie and the Blowfish, Rucker was the lead singer for a band that issued three straight platinum-certified albums, filled arenas and a recorded string of obnoxiously catchy tunes. By 2008, the band was three years removed from issuing an album with lukewarm sales. Rucker had even attempted a prior solo tilt, releasing a all-but-forgettable R&B record that was a departure from the southern rock sound he had crafted with the band.

How did he stage a comeback? By going country, Rucker found a new market that played to his musical strengths. As other artists, particularly Toby Keith, have realized, country music lovers are a small part of the population, but they are loyal and they buy a lot of albums. Rucker has added a solo platinum album and seven top-five country singles in the past five years.

In some ways, I compare this strategy to Apple roughly a decade ago. The company was losing the battle for computer buyers, so they reinvented how people upload and listen to music with the iPod. Further advancements in the market have helped fuel the company’s comeback.

Return to Your Roots

Marvin Lee Aday had a nice career in the 1970s. Meat Loaf became known for booming, operatic anthems and album covers that were considered artistic and iconic. Legal issues with his primary songwriter forced the singer to pen more songs in the 1980s. That, combined with a departure with cover art, led to a downward spiral in his popularity.

How did Meat Loaf stage a comeback? By reconnecting with his songwriting partner on a sequel to Bat Out of Hell, he managed to reintroduce himself to a new generation of music listeners. (Interestingly, record executives initially wrote the comeback off as a joke.) And the classic cover art returned. As it turned out, the album included his biggest single, “I Would Do Anything for Love (But I Won’t Do That)”. People are still trying to figure out what “it” was, but what really mattered was the comeback.

Interesting post-script: Meat Loaf’s '90s comeback was short-lived, though Bat Out of Hell III actually went gold in 2006.

Photo: Wikipedia

Collaborate With A Fresh, New Face

Some of the best comebacks involve putting egos aside and serving as a supporting act to someone else. A great example is taking place this summer, with Nelly (right) appearing on the infectious Florida Georgia Line song, Cruise.

Nelly’s own single bombed earlier this year, but an appearance on another act’s highly played song can only help sales of his upcoming album. Georgia Florida Line’s debut album is nearing 800,000 sales, which is quite impressive in the iTunes era. Mariah Carey could learn something from this.

Find a New Groove

The comeback that I still marvel at was Kylie Minogue’s Can’t Get You Out of My Head. After having a huge debut in the 1980s with a cover of The Loco-Motion, the Australian singer faded into near-oblivion in the U.S. throughout the 1990s. But she revamped her image, brought in a new dance groove and struck a chord with younger listeners in 2001. Subsequent songs have been a letdown, but I find it interesting when someone goes 14 years between hit singles. Does that mean hope still exists for Sugar Ray?

Wake Forest Taps Iacovou to Lead Business School

Photo: flickr.com

Wake Forest University went with an internal candidate to replace Steve Reinemund as dean of the business school, selecting Charles Iacovou (right) to lead the program. Iacovou, currently the school's vice dean, will start July 1. In a release, Dean Reinemund called Iacovou "the natural choice" to make Wake Forest "a world-class school of business."

You can find Iacovou's bio and other credentials by clicking here. And we have included a copy of the letter that Wake Forest President Nathan Hatch sent to announce Iacovou's promotion:


Dear Wake Forest University School of Business Alumni,

I am pleased to announce that Dr. Charles Iacovou has accepted my invitation to serve as the next Dean of the Wake Forest University School of Business, effective July 1. Guided by members of the Board of Trustees, Board of Visitors, faculty and staff, Provost Rogan Kersh chaired a national search for a leader of impeccable experience and an appreciation for the power of a well-rounded business education in a collegiate-university setting. Throughout the process, Dr. Iacovou distinguished himself as the best choice for Wake Forest.

Since joining the School of Business' leadership team in 2007, he has served in a number of senior administrative roles, including Director of the Full-time MBA Program, Senior Associate Dean of Graduate Programs and Senior Associate Dean of Faculty. For the past two years, he has served as the School's Vice Dean. In this capacity, he has had oversight responsibility for undergraduate, graduate and non-degree programs. He also has been responsible for faculty affairs, academic centers and all administrative and professional staff functions of the school.

Under his leadership, the School of Business faculty and staff formulated a strategic framework for business education at Wake Forest between 2012-13, which is currently being implemented. This followed Dr. Iacovou's successful efforts to co-lead the integration of the graduate and undergraduate business schools at Wake Forest.

Upon learning of Dr. Iacovou's selection, outgoing Dean of the School of Business and soon-to-be Executive-in-Residence Steve Reinemund said, "Charles is the natural choice to build upon what our faculty and staff envisioned as the ideal model for business education in the 21st Century. I am confident Charles will take Wake Forest to the next level as a world-class school of business."

Before joining Wake Forest University in 2001, Dr. Iacovou led an electronic bank, Laiki eBank, in Europe. Additionally, Dr. Iacovou has provided strategic planning, management consulting, and leadership training services to firms in the financial services, international trade, logistics, media and other industries. As Professor of Management, Dr. Iacovou has received numerous teaching and research awards from students, alumni and faculty.

Dr. Iacovou was a faculty member in the McDonough School of Business at Georgetown University from 1997 to 1999. He received his Ph.D. in Management Information Systems from the University of British Columbia and his B.S. degree in Business Administration from the University of Vermont. he completed his undergraduate studies with the support of a scholarship administered by the Cyprus Fulbright Commission.

I am excited for and confident in the future of the Wake Forest University School of Business under Dr. Iacovou's leadership. Please join me in congratulating him on his new role.

Sincerely,
Nathan O. Hatch
President

A Look Inside the Mind of a Lego Genius

Last week, I pointed out a video of Nathan Sawaya, a former lawyer in New York who quit his job (and six-figure salary) to become a Lego artist. In 2004, he won Lego's nationwide search for a Master Model Builder, and he now builds commissioned pieces for celebrities like Conan O'Brien and entities such as the New York Public Library.

We recently took the family to see an exhibit of Sawaya's work. It is amazing what you can do with 1.5 million Legos and enough creativity. One thing that I liked about his approach ... he carries a sketch pad with him everywhere so he can jot down ideas whenever they strike! It is a simple and solid idea that we should all employ.

Sawaya has several recurring themes, including the notion of people breaking through the mundane to discover their full potential. Creativity and the power of the human mind also play major roles in his work.

The Lego artist's story, along with his work, brings to mind  the mantra of Wake Forest University's Schools of Business under the leadership of Dean Steve Reinemund: People need to discover their passion and "find their fire" when it comes to pursuing their life's work.

Sawaya has two studios: one in New York and the other in Los Angeles. Each studio houses millions of Lego blocks in assorted colors. Sawaya builds 2D pieces that double as wall art and 3D pieces that look like they could have been created by a three-dimensional printer.

During our tour, we were told that Sawaya does not get any discounts from Lego for his block purchases.

I found that surprising. Lego should find a way to collaborate with Sawaya. Can you imagine the money to be made if they could agree on a licensing deal where Lego gave Sawaya free or discounted blocks in exchange for the rights to market miniature versions of his pieces?

They could either be kits, with smaller Legos to accommodate scale, or molded sculptures to resemble his work.

The photos were taken at the Graham Public Library and Children's Museum in Graham, N.C.

Think Twice Before Reneging on Your Internship

BusinessWeek recently put out an article looking at how business schools are cracking down on students

By Paul Davis

who accept, then back out of, internships. These relationships are critical to MBA programs and administrators are mindful of how reneging on internships can impact a school's reputation.

The publication highlighted an case at Georgia Tech, where two students reneged on their initial internships when better opportunities surfaced. BusinessWeek notes that the students were barred from career services and can no longer meet with career advisers or on-campus recruiters.

Georgia Tech isn't the only business school program that has taken a hard-line stance on internship defectors.

• At Harvard, students who back out of an internship run the risk of losing access to career services and permanent loss of alumni privileges, including reunions.
• MIT's Sloan School of Management also has a policy that can strip a student of recruiting privileges if he or she welshes after accepting a job.
• Wharton has a tough policy that requires you to meet with a member of the school's career management advisory staff even if you are simply thinking about reneging on an accepted offer. "Our goal is not to prevent students from making optimal career choices," the school's policy states. "But rather to counsel students on the handling of this difficult situation to help them minimize the negative impact of their decision."
• Finally, Columbia makes it clear that students who renege must undergo the Dean's Disciplinary Process, where consequences range from receiving a warning to dismissal from the school.

Lessons From a Lego Guru

The other day, I received an email with a video of Nathan Sawaya, a former corporate lawyer who quit his job to focus exclusively on playing with Legos. Playing is quite an exaggeration ... Sawaya has his own website and creates amazing brick sculptures from a variety of businesses, nonprofits and celebrities. His work is on display at museums.

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In the following video, he discusses his transition, sharing some sound advice for people who want to abandon their routine and alter the trajectory of their careers. His talk ties in nicely with a blog from a couple of years ago that covered a talk from a high-ranking Lego executive at Wake Forest University.

Sawaya's talk is part of an 11-minute video that is well worth watching:

How Jim Early Realized His Passion for Barbecue

I love to hear stories about people who, over time, discover a way to devote the time and effort necessary to fully realize the potential behind their passions. I recently posted a couple of blogs about Nathan Sawata, a former corporate attorney who abandoned his profession to pursue a career (and lifestyle) as a Lego sculptor. You can revisit my posts on Sawata, and watch a speech he gave, here ... and here.

Earlier today, I had the pleasure of listening to another former lawyer, Jim Early, discuss how he eventually left his law practice after 40+ years to devote his life to cooking. More specifically, he commits his time to promoting barbecue (or barbeque or BBQ, depending on where you're from).

Photo: www.jimearly.com

In a nutshell, Early decided around 2000 to research the art of barbecue in North Carolina. He would work 16-hour days Monday through Thursday as a trial attorney, then ride off in his Blazer in search of BBQ joints across the state. Over seven months in 2001, he drove 22,000 miles, ate at nearly 230 barbecue restaurants (both East and West styles) and invested more than 4,000 hours writing a book on the business.

Early had a great observation from his travels, which included every county in the state. He would start every Friday morning finding people and asking them where they went to go eat barbecue. What did he find? That most of the spots had horrible food. Early, an experienced attorney, realized that he was asked people the wrong question.

As it turned out, many people sent him to the closest restaurant ... or the cheapest because that was what they had the time or money to invest in dining. So he quickly changed his question, asking people where they would go to eat BBQ if they were celebrating a special occasion, such as a birthday. The results were much more reliable after that.

Amazing how your results can vary, and your projects can falter or fail, if you are asking people the wrong questions. This is applicable in so many areas: marketing, sales, R&D.

I am also quick to seize on stories that help me better understand various business, so I paid extra attention when Early discussed what it takes for a barbecue shack to produce authentic pit-cooked BBQ. Of the 228 places he ate, only 30 actually used a fire pit to prepare their barbecue (though many tried to give the appearance that they did).

Why did only 13% of the barbecue shacks in the sample use pits to cook? Look no further than costs and liability. According to Early, it can take up to four years to train a pitmaster (the person who oversees the cooking) and then you have to pay them. Restaurateurs also have to buy costly chimney filtration systems, clean up ash regularly and carry extra insurance for pit-cooked BBQ.

So Early found that a number of places would advertise pit-cooked but would actually just toss a little pork fat on an otherwise dormant pit to throw off an "authentic" smell. "Things aren't always what they seem," he said.

Let's go back to the topic of passion. About five years after researching and writing his book, Early took the initiative to form the North Carolina Barbecue Society. Less than a year later, seeing a need for the fledgling group, he quit his law practice after 43 years to devote full-time attention to the society.

These types of stories are encouraging for me as I look to pursue other passions, whether it is blogging and social media or my fledgling interest in beer brewing (which I hope to write more about as I learn more and make my first batch). It is certainly worth everyone's time to regularly evaluate their careers and assess whether their current trajectory is in line with their passions!