Brad Feld

Month: July 2012

I’ve just spent a month in Maker Mode. It’s been a powerful month and prompted a few posts like Have You Fallen Into The Busy Trap? which generated lots of feedback as well as deeper responses from posts like Do We All Work Too Much? And Do We Really Have a Choice? Amy and I are talking about this almost every day as we work on our book Startup Life: Surviving and Thriving in a Relationship With An Entrepreneur. The topic of how we work, what’s important, and what we get done is very much on my mind these days.

Email is a big part of this. Once a month I get an email from the Gmail Meter that tells me about my email behavior. Here’s June’s summary.


The daily average is 233 conversations, 411 received emails, and 140 sent emails. Remember that this includes weekends where the volume is much lower.

If you assume a 10 hour day (short for me), that’s 23 conversations an hour, 41 received emails an hour, and 14 sent emails an hour.

 

It’s easy to imagine that I could easily spent my entire life doing email.

Let’s look at the next batch of data – % traffic sent / received each day.

While the daily email pattern is relentless from Monday to Friday, you can see that I spend Saturday getting caught up or working on stuff that generates a bunch of sent emails but doesn’t have responses received until Monday. But the simple conclusion from this chart is that email is relentless.

Next up is Time Before Response.

Here you can see Maker Mode in action. When I’m on email, I respond almost immediately. When I’m writing, between 1 hour and a day pass – my guess is if this was a more granular chart, it’d center around four hours which is my maximum time period for real writing. Most people respond quickly to me, so if I respond quickly, I generate the endless back and forth of email. When this doesn’t necessarily show it, I know that when I slow down, there’s less email coming back my way.

Let’s finish up with Word Count.

If you’ve ever exchanged emails with me, you know that my answers are generally short. 35% are less than 10 words. 70% are less than 30 words. But look at what I’m getting back. 50% are more than 100 words. Fortunately, I read very quickly – much faster than most people can type.

Ok – that’s plenty of data to play around with. I have a simple goal of responding to all of my email so I find the patterns curious and the data super interesting. This month has been a different kind of month given Maker Mode, but when I look at the patterns I realize I’m still spending too much time “email is on and I’m responding mode.”

In contrast, I wrote for eight hours yesterday. I closed Chrome and didn’t have email up. I was on it for a few hours mid day when I did a few hours of calls and then again at night when Amy and I watched The Recruit. Other than that, I wrote.

This morning my brain was tired. I decided I wasn’t going to write until this afternoon. So I’ve spent the morning responding to email and writing this blog post. I’ll go offline (or off email) from 1pm – 5pm this afternoon and do the writing I planned to do today. I’ve got a Thursday deadline so I can imagine that I’ll fire things back up after dinner and write for a few more hours.

My goal in July is to shift my modality even further into Maker Mode. I’ve gotten comfortable with the four hour writing stretch and want to make sure I do at least one a day with two on the days that I can handle it. Like running, I have to vary my tempo for it to be sustainable. I’ll compare the July data to the June data when it comes in.

I realize this post was more for me than for you, but hopefully you got some interesting insights out of it if you hung in to the end.


My first business partner, Dave Jilk, emailed me our original partnership agreement for Feld Technologies. It’s one page.

 

We incorporated a month later as an S-Corp. It cost us $99 to do this – I remember using an organization called The Company Corporation – we called an 800 number, gave them some information, and the documents were automatically generated and filed. A short letter agreement specifying the equity splits and the boilerplate legal docs were the only legal docs we had until we sold the company in 1993.

As my partner Jason Mendelson told me after I sent him this the other day, “If things go well, it’s fine. If they don’t, it’s a fucking disaster.”  And he’s completely correct – in this case things went well so there were no issues.

I continue to try to do deals this way. I lay out the terms, will negotiate a little, but am clear about what I want. If it works, great. If it doesn’t, I move on. Once the simple terms are agreed to, I let the lawyers generate hundreds of pages of documentation to support the deal. I used to read every word on every page myself (I learned that from Len Fassler, who bought Feld Technologies). I still look through the documents, but I only work with lawyers who I deeply trust to do it right (like Mike Platt at Cooley) so I focus on the stuff that matters for the specific deal.

Trust matters more than anything else to me in a deal. Sure, I occasionally get screwed in a deal, but never more than once by the same person. And, for people like Dave Jilk and my dad, I’ll work with them over and over and over again because I trust them with my life.

Keep it simple. It’s much better.


Are you “too busy?” When someone asks you how you are doing do you immediately respond with something like “I”m incredibly busy?” If the answer is yes, go read the amazing opinion piece in the NY Times by Tim Kreider titled The ‘Busy’ TrapI’ll wait.

I’ve spent the last month at my house in Keystone in Maker Mode. I’m about to submit the final draft of “Startup Communities: Build An Entrepreneurial Ecosystem In Your City” to my publisher on Thursday. I’m closing two new investments in July. I’m running my 22nd marathon in Missoula in a week after raising $11,487 as a Random Act of Kindness for Justin Salcedo from Devine, TX who has testicular cancer. I’ve stayed on top of the 250 to 500 emails a day I get and have been responsive to all of the companies I’m an investor in.

Sure – I’ve been “busy”, but I don’t feel busy. I wake up each morning without an alarm clock and have found that I’ve been sleeping 9 to 10 hours a night. I’ve spent more time with Amy than I have in a while and as a special bonus get to sleep with her every night. We go out to dinner a few times a week. We’ve watched a bunch of movies (all of the Avenger series, Kill Bill 1 and 2, and a few others.) I’ve read a couple of  books. We’ve had a great time with a few friends who have come up and spent a night or two with us. And I’m in front of my computer a lot.

I’ve been to Boulder twice – once for Big Boulder (for 24 hours) and then last week for two days. Each time I felt ridiculously overstimulated. I was overscheduled, busy all day long running from thing to thing, and without any time and space to think. These trips were the only ones where I used my alarm clock (on my iPhone) to wake up an I ended up with 6 hours of sleep each night. Busy, busy, busy. And in Boulder, a tiny little town of 100,000 people.

When I reflect on these trips, I stayed on top of my work but I wasn’t productive. Or creative. Or particularly happy. Ok – I had fun – I like all my friends and all the people around me, but at my core I felt exhausted at the end of each day. I felt the pressure building up of the things I hadn’t had time to work on. And one these couple of days in Boulder I didn’t feel like I had time and space for anything else.

In contrast, as I sit here on a Sunday morning, I feel free. Amy is out for a hike, I’m going for a two hour run in a little while, and then I’m going to spend the afternoon working on my book. I have inbox zero (four new unread emails have appeared as I wrote this) and nothing is backlogged other than some additional writing I want to do. When I look at my schedule next week, there are a few things on my calendar during my manager hours (1pm – 4pm each day) but they don’t feel oppressive to me. I’m completely relaxed about my Thursday book deadline – totally comfortable that I’ll get there. And I’m excited about running my first marathon since the 50 mile race I did in April.

We are creating the Busy Trap ourselves. I think it’s a way of avoiding our fear of death. If we are in the Busy Trap, we don’t have to spend time alone, or thinking about ourselves, or thinking deeply about the stuff we are interested in. By always being tired and overworked, we get to claim that we are “productive” even if the things we are doing are pointless. We get to prove our worth by being able to declare how busy we are. But, in a lot of cases we aren’t really doing much.

I work hard. I work a lot. And I have in the past month. But I don’t feel “busy”. I don’t feel overwhelmed. I don’t feel oppressed. I feel like I’m doing some of the best work of my life so far. And I’m having a lot of fun.

Have you fallen into The Busy Trap?