What Would Steve Case Say to You? (Founder of America Online)

Show Notes

In this episode of the Thrivetime Show Clay Clark is breaking down some quotes from Steve Case who founded America Online. He will be talking about the timeline of success and what to expect when starting something big.

Words of Wisdom From Marc Ecko (Founder of Marc Ecko Enterprises)

FUN FACT – New Kids on the Block sold have sold over 80 million albums worldwide.

FUN FACT – Steve Case says he does not remember the total number of compact discs that his company sent out, yet he does remember that the internal goal was to spend 10% of the lifetime revenue of a new subscriber to get a new subscriber to America Online. He believes that his company spent just over $300 million on mailing the those discs out. At one point, 50% of the compact discs on the planet were being produced with an AOL logo on it.

NOTABLE QUOTABLE – “We were logging in new subscribers at the rate of one every six seconds.” – Steve Case

  1. FUN FACT – Steve Case started the Quantum Computer Services company in 1985 at the young age of 26.
  2. FUN FACT – He was born and raised in Hawaii and attended high school and the upper class same school where former President Barack Obama also went to high school (Punahou School).

America Online Made the Internet Mainstream for Most American Families

  1. NOTABLE QUOTABLE – “We knew we couldn’t win a round in hand-to-hand combat; it required more of a guerrilla marketing strategy. For us, that meant great products, including a consumer-friendly interface application.” – (Steve Case, who founded AOL at a time when 3% of American households were connected to the Internet.)

Only Hunt Elephants

  1. NOTABLE QUOTABLE – “I’m only interested in big ideas that aren’t easy to execute. These take a long time to get going, but when they do, you can see the light at the end of the tunnel showing you how they could become big, game-changing businesses, and therefore good investments. More important, they could become transformative forces in terms of improving people’s lives.” – (Steve Case, founder of AOL which stands for “America Online”, at a time when barely anyone was online)
  2. NOTABLE QUOTABLE – “When you are hunting elephants, don’t get distracted chasing rabbits.” – T. Boone Pickens (The famous philanthropist, geologist and billionaire oil and gas tycoon.

Build a Great Team

  1. NOTABLE QUOTABLE – “To maximize their value, spend as much time as you can assembling the best possible team that really compliments your skill set and can lead a little bit into where you’re heading, not just where you are.” – (Steve Case, founder of AOL, who described building the company as a twenty-year journey)

Great Business Stew Takes a Decade to Marinate

  1. NOTABLE QUOTABLE – “In my experience, really big ideas often take a decade to reach fruition.” – (Steve Case, founder of AOL, the company who spent $350 million sending CD’s to people to use their product)
  2. AMPLE EXAMPLE –
    1. Tesla took 10 years to produce a profit.
    2. Amazon took 9 years to turn a profit.
    3. FedEX from 1962 to 1971 to produce a profit.
    4. In 1979 Ted Turner launched CNN as the world’s first all-news all-the-time network and it did not begin producing a profit until 1991.
    5. ESPN was started by Bill and Scott Rasmussen and Ed Eagan in 1978 and the business did not produce a profit until 1985.
    6. Walt Disney started Laugh-O-Gram with  in 1919 and went into bankruptcy in 1923. He then created a character named Oswald the Lucky Rabbits whose rights were stolen by the distributor of the film Margaret Winkler and her husband, Charles Mintz. Thus, it took him until 1929 to create the produce the profitable venture called Silly Symphonies.

Build a Product That As People Can Actually Use

NOTABLE QUOTABLE – “Some people teased us at the time, calling it “the Internet on training wheels,” but we were proud of that. That was exactly what we were trying to do; we really wanted to get everybody online in a way that was so easy and affordable that it become almost irresistible.” – (Steve Case, founder of AOL, who was also appointed to President Obama’s Council on Jobs and Competitiveness)

What Effective Delegation Looks Like

NOTABLE QUOTABLE – “If you really are a great CEO, you should wake up in the morning and have nothing to do. That would mean that you have set a clear vision, assembled a great team you could trust to move that vision forward, and given them the flexibility to operate. Of course, you’ll never achieve that level of perfection, but you should organize with that goal in mind.” – (Steve Case, founder of AOL, also was named the chairman of the Startup America Partnership under President Obama)

Business Coach | Ask Clay & Z Anything

Audio Transcription

Want to attend the legendary drive time show business coach workshop for free, subscribe on itunes leave. It objected review and send his confirmation at info at drivetime show.Com to claim your tickets want to live in a van down by the river, come by and see us at our riverwalk offices and will be able to make your dreams come truealright, tribe, nation. Our next podcast were talking about now. Our next edition of the drive time show broadcast we’re talking about what would steve case say to you. What would steve case sadie? Who is steve case, and why do we even care today, if you’re old enough to remember this? Remember how like everyday, you would open up your mail chop and seem like you got in the mail. A cd compact disc, from america online aol I do remember that yeah, okay, I’ll, probably 1200 fun factory new kids on the block, the legendary pop group that snout touring again-oh oh, oh, oh, hold, 80 million albums 80 million compact discs. Steve case says steve case says he does not remember, he’s gone records. I! Don’t remember! The total number of compact discs that are business coach company sent out, but he does remember that their internal goal was to spend 10% of the lifetime revenue of a new subscriber to get a new subscriber to merrick online, and he believes that his company spent just over three hundred million dollars on mailing out those discs at a cost of about $0.75 per one. So it could be speculated that steve case littrell emailed everyone in america.

The american population right now stands around 360 million people, so it looks like he probably mailed ace compact disc, to every single american once, but because he was smart, he actually just mail to ideal and likely buyers and home, so they can afford it so check this out at one point before america online was sold, they produce 50% of all of the compact discs on the planet, and that was like peak compact discs into this time frame. Half of all the compact discs on the planet had the america online logo on it. So this is what’s crazy. Steve case went on to say, is on record of saying at one point:we were logging-in new subscribers at a rate of 1 every 6 seconds, you’ve got, mail, you’ve, got, mail, you’ve, got, mail, tom hanks steve case making this happen so fun fact, steve case started working at a company called the quantum computer services company 1985 at the age of 26. He co-founded this business coach company quantum computer services. Little fun fact he actually went to the same high school as barack obama. Did you know that there did you? Did you know what the same schools? Yes in hawaii? So fun fact for you, so he started the company the age of 26 and grew it obviously america online to kayla major major corporation and really made the internet available for most people. So here are some here’s, some advice from some advice and they look horrible from steve case so I’m going to read them to you and I’d like to get marshall that you’re take and break these down. Here we go steve case says we knew we couldn’t win a round in hand-to-hand combat it required more of a gorilla marketing strategy for us that meant great products, including a consumer-friendly interface, an application to try to convince people to use the internet, and so he said he had to create a consumer-friendly interface application. Why should everybody out there. Find your products to work for a third grader, because most people can’t figure out anything beyond that? We have smartphones now that are making people dumb, okay, and so, when you use your smartphone, your iq level drops to the level of that of a third grader distracted.

The average person, according to psychology today, is interrupted over 70 *. Oh my gosh and steve jobs was obsessed about this concept. Yes, he said it can only have one button right, because people can’t handle more than one of the kids is going to be out, and so you have to make it user-friendly because whatever whoever makes their product in their buying experience, the easiest that is who will win the business of consumer model i, believe you need to fix your pricing model. If you can’t communicate how much what they want to buy in two sentences, one sentence, if you can’t say this, is how much it cost and it’s as simple as that, then it’s too, I think the underlying thought and this whole thing is:you got to be empathetic with a buyer right think of it from their point of view from their shoes. You know it is example our business coaching program peaceable. What is it I would say we teach you the proven business coach path and we provide you with a team to help you execute it for less money than it would cost you to hire either one $8.25 per hour and a boy, if you say elephant the room. What is it it’s like a country club for men’s hair grooming experience steve case has said I’m only interested in big ideas that aren’t easy to execute these take a long time to get going, but when they do, you can see light at the end of the tunnel, showing you how big in game changing the business can be in there for their good investments more important. They could become transformative forces in terms of improving people’s lives martial. He doesn’t want to get rich quick. He wants things. Take a long time to have success, he’s only interested in things that aren’t easy to execute. Now. I find this very interesting. That’s how I am by the way yeah things that are not easy., I’m, glad I told you I’ll tell mike I’m glad it’s hard to do to build drive because it was easy would have been done.

That’s right! This is my last thing. I’m doing I’m not going to try to this is my thing. It’s all I want to do is build drive so I ate, but it was easy. Everyone would have done it now. This is the next thing he says. You’re chubby said you had to build a great business coach team. He says to maximize value, spend as much time as you can a sibling, the best team that really compliment your skill set and can lead a little bit into where you’re heading, not just where you are you going to build a great team.

Champ yeah I mean your product is not going to services not going to sell itself right. If you want to scale your business are going to have to have team members that you can rely on to put a good face and represent your brand. This is the next nova corps, with a final notice from steve case turn on today show. He says great businesses take a decade because I say this. All the time and I would remember this. I’m like where did I originally get that idea, I get it to osmosis, just buy as me written up autobiographies, you realize that that’s the path but i. Probably who said that, though, so steve cases in my experience, really big ideas off to take a decade to reach fruition. Tesla took 10 years to make a profit. Amazon took nine years to make a profit. Fedex took nine years to make a profit. Ted turner took 12 years, make a profit with cnn. Espn took the guys well over a decade it. This is crazy. They actually want something. A 1978 didn’t make a proper till 1985, but they were stewart on that idea forever. Before they launched, walt disney took him over a decade to make a profit, I lost it all multiple time marshall for somebody out there that wants to get rich, quick business coach help, vaccinate them help them embrace the steilacoom in town. It does take a decade to build a big something. There is no such thing as get-rich-quick. There is something called get rich slow. We will teach you the best practice systems. You will learn from mentors and not your own mistakes help you turn around a dysfunctional business in about 18 months. 12 months of passes, it’s the best. I’ve ever seen is like 3 months. Just, because the client was a very diligent do or we cannot help you get rich, quick and one. You can’t get the top of google in one week

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