Kawasaki correlates CUs with Porsches

Author and venture capitalist Guy Kawasaki won over the America’s Credit Union Conference & Expo crowd when he admitted buying his first car from a credit union because the rates were lower.

Guy Kawasaki: "The greatest role that life can bestow upon you is to be a revolutionary."

“So when I think of credit unions, I think of Porsches,” he said.

Sharing his belief that "the greatest role that life can bestow upon you is to be a revolutionary," Kawasaki revealed his 10 rules for revolutionaries at Wednesday’s Closing General Session:

1. Be catalyzed by a desire to make meaning, or change the world. “If you only want to make money, you’ll usually fail,” he noted.

2. Make a mantra—two or three words describing why your organization exists—not a mission statement. Most mission statements, he claimed, are too long, unwieldy, and no one can remember them. His example for Fed X: peace of mind. It's relevant and to the point.

3. Jump to the next curve. Most industries define themselves by what they do, not what they provide.

4. Roll the DICEE. A great product is Deep, Intelligent, Complete, Elegant, and Emotive.

5. Don’t worry, be crappy. It’s better to roll out a product that’s less than perfect versus waiting for perfection and missing an opportunity.

6. Don’t be afraid of polarizing people. Some people will love what you do; others will hate it.

7. Let 100 flowers blossom. You might conduct extensive market analysis to determine your target market for certain products or services, and then find a whole different group is using them. An example is Avon, which developed the product Skin So Soft as a moisturizer. “Suddenly mothers discovered it’s also an insect repellent,” Kawasaki said. “Take the money.”

8. Churn baby, churn. Ignore detractors, he advised. Then listen to your customers to make changes.

9. Niche thyself. Make sure your products are unique and valuable.

10. Follow the 10-20-30 rule of pitching. As a venture capitalist, Kawasaki listens to product pitches all day long. Here’s his advice: Have an optimal 10 slides in your PowerPoint, deliver the message in 20 minutes, and use 30-point font.