Tag Archives: entrepreneurs

Why Do People Forget the Basics and the Essence of #SocialMedia?

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In my previous post, I mentioned how keeping the basics right can actually bring about success in business or even in life for an individual. Right before I clicked on the “Publish” button – it got me thinking:

If being successful is as simple as just getting the basics right, why do people still fail to grasp the basics? What is it that is stopping them from succeeding in what they do – in business, on social media networks and in life?

It is not the techniques. It is not the skills. It is not that you do not know how. It is not the unavailability of guides or mentors. Sometimes, it is not even because you’re inexperienced (or very experienced). It is your MINDSET. That’s the component with the problem.

Here are 3 mindsets that may be holding you back from achieving success:

#1: Ignorance

Do you remember picking up that new piece of gadget, chucking the manual aside and begin fiddling with it immediately? That’s ignorance. You know that there is help somewhere (like, by searching Google) but it is somehow too bothersome. You prefer to have it hands-on to get working on something immediately, to learn from experience, but ended up taking more time than you should or missing out on a ‘killer feature’ on your gadget – and that could cost you.

#2: Common Sense / Know-it-all

The commonly known common sense isn’t really that common. Remember the times where you told yourself “Ah, I’ll never forget that. It’s common sense.” and you forget it when you need it the most? That happens because you’ve told your brain to put that aside and if you label all your findings and knowledge as ‘common sense’, you’ll never find them when you need them the most. I usually compile all useful resources into Microsoft OneNote. It isn’t the best software around, but it does what I need it to do – taking down notes and organizing them into separate categories.

#3: Complacent

When it comes to social media, learning happens everyday. You stop making progress the moment you decide to stop learning. Some businesses tend to relax when they’ve achieved what they set out to do thinking that the success stays with them. The truth is, your fans and followers can feel it when you’re laid back and eventually lose interest in you. It is important to keep your game up consistently and never remain too comfortable.

What do you think? What are the other thoughts that can derail one from being successful on social media?

How to: Be Successful in Business? Back to Basics

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Startup Weekend MalaysiaRecently I have been invited to the Startup Weekend Malaysia to experience the program and mingle around with people with great ideas. If you’re wondering, the Startup Weekend is a global initiative to assist aspiring (serious) entrepreneurs in making their first step to realize their business ideas. Each participant is given the opportunity to pitch their ideas to the room in 1-minute and the top 10 ideas (based on votes) will be selected and that’s where the real work begins – from forming teams, brainstorming, market research to prototype development.

The beauty of this program? Everyone leaves with a developed business idea. Cool, huh?

As I was listening to the individual pitches, observing and talking to these entrepreneurs, it made me once again realize the secret ingredient for success – whether it is in business, social media campaigns or even in life – and they really are the basics, nothing fancy or extraordinary.

One of the plenary sessions at the Startup Weekend Malaysia

Here are the 7 basic attributes to be successful:

#1: Dream

Every participant that came to the program had a dream – an idea, a business plan waiting to be fulfilled. They’ve probably been sleeping on it ever since it popped into their heads and they are just waiting for the opportunity to get it started.

What About You?: Do you have a dream? Do not be afraid to dream. Ideas only stop coming because you allowed it to. A rule – don’t set boundaries to your dream. Dream big!

Further reading: It’s time to dream!

#2: Passion

Even though the participants were only given 1-minute to pitch, their passion and enthusiasm is unmistakable. They are eager to see their business idea come to live and they obviously do not care if the rest thinks it is a silly / inviable idea. It’s theirs and they are proud that they own it.

What About You?: Do you have an idea but am afraid of what others might think? Stop yourself from thinking that way and let your passion take over. Sometimes, a silly idea turns great through passion – simply because you never stopped believing.

#3: Action

Passion is put to test when the participants are required to form teams to actually work on their ideas. This is where the participants had to really do something about it – to make the idea work, beyond just talking and sharing.

What About You?: Maybe it is time for you to take action and put that passion of yours to good use. Sitting on it won’t do any good. Action makes things happen.

Further reading: Passion without Action is dead!

#4: Determination

Let’s take a step back – even before the participants had to form teams, they had to gather votes from everyone present as only 10 ideas with the highest votes will be given the opportunity to form teams to drive the idea further. I particularly remember this participant, Aaron, that came up to me saying “Sir, will you give me an opportunity to share my idea with you?”. His idea wasn’t extraordinary but his passion and determination (and preliminary idea research) won my vote.

What About You?: How determined are you to make your idea a reality? Remember, it is always easier to give up but being successful in most cases, is like running a marathon. It’s a long journey but the reward is great.

#5: Team Work

It is interesting to see how the teams were formed at the Startup Weekend. Almost every team were looking for a developer, marketer and finance person simply because they understood that they cannot do it alone.

What About You?: No man is an island. You’ll definitely need a team to make up for your weaknesses. Get your team together and you’ll find that that’s the best decision you’ve ever made! It also helps you focus on what you need to do – managing and keeping the vision intact.

#6: Focus

From time to time again the participants were reminded to build a MVP – Most Viable Product, forgoing fancy features and functions and focusing on the must-haves, the actual benefits that the consumer wants.

What About You?: It is easy to get caught up with the cool features and add-ons of your plans but if you do not have anything to begin with, your ideas are nothing to begin with. Focus on getting the core benefits right THEN the add-ons. Remember, build a MVP!

Further reading: The 2 Secret Ingredients for a Successful Product

#7: Anticipation

People say that when Apple is building the very first iPhone, they already have the iPhone 4 and the iPad in mind, just waiting for the right time to roll them out. Build with the future in mind! Anticipate opportunities for expansion and problems that may occur.

What About You?: It is all about preparation. A scalable product will definitely have a larger potential and you may just capture the attention of investors are venture capitalists. Always be on your toes – you’ll never know when you’ll need to sprint forward ;)

Do you remember the time when you were just starting out? What drove / motivated you? I would love to hear your experience :)

 

A Simple Way to Score Your #SocialMedia Efforts (even if you’re new!)

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So I’ve been bombarded with stacks of degree assignments to mark in the past week and strange enough, the painful process of marking actually made me realize something that happens to be relevant to monitoring social media efforts. I can’t speak for other universities but for mine, we follow what we call a marking scheme or a marking grid which outlines the criteria in which the marks are allocated for e.g. Research and Analysis (20%), Flow of Thoughts (10%), Formatting (5%) and etc.

What Does Marking Have Got to Do with Social Media Monitoring?

Interestingly, quite a fair bit. Monitoring has always been a tedious process on social media and many individuals and companies are struggling to monitor the performance of their presence across social media networks. There are many great articles (like these) written on different measurements such as Conversion Rates, Feedbacks, Inbound Links, Unique Visits, Retweets, Clicks and the likes of it but many of these can still be rather complicated for someone new on social media. Also, how do one put all these together?

Is There Anything Simpler?

With the understanding of different individuals or businesses have different priorities and expectations on social media networks, you may want to consider producing a marking grid by 4 simple steps:

#1: Listing down all the criteria that you deem as important. For example, Number of Retweets and Shares, Comments and Feedbacks, Unique Visits, Number of Fans / Followers, Number of Impressions, Number of @Mentions and etc.

#2: Assigning a score to each of the criteria to a total of 100%. For example, Number of Retweets and Shares (10%), Comments and Feedbacks (30%)… you get the drift :)

#3: Set an end goal to each of the criteria (desirable vs non-desirable). This is so that you know how you’re doing throughout. For example, Number of Retweets and Shares – Desirable (>50 Retweets) vs Non-Desirable (<10 Retweets).

#4: Score yourself on a periodic basis. It’ll be great if you can do it weekly, else every two weeks – I won’t recommend going less than once a month. After all, the whole purpose of this is to track your progress, no?

Why You May Want to Consider This (Self-Created) Method

You may be reading this and have been wondering whether this works or whether it is appropriate for your situation. Should you consider a more professional / advanced tool instead of this method? Now, you may definitely require something more advanced than this method especially if you require more complex analysis and information but it can be a great start for you if you’ve just getting started.

Reason 1: It is built to your expectations. You set your own goals that caters to your own situation and environment. If you think that the number of visits to your site isn’t important (e.g. because you prefer to have a small but closely knit community), then assign the criteria with a lower score.

Reason 2: You do not need any fancy software or applications. Pen and paper will do but if you insist on using one, try Excel or any spreadsheet app, it is more than enough.

Reason 3: It is very straight forward. Also perhaps the easiest way to keep track of your progress. This way, you’ll also know where should you put that extra effort instead of just looking at fancy graphs trying to figure out what’s next.

What do you think? Do share with me your thoughts on the idea or even better if you’ve more to share!

Are You Lost on #SocialMedia (even with the tools)?

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Just a couple of days ago I was traveling downtown for an event. I must admit that I wasn’t sure of the directions as I seldom go by there but I thought it will be okay – with my trusty Google Maps. After all, it has never failed me. I hooked it up, followed its directions confidently… and lo and behold, it led me directly into a one-way street (and I would go against traffic). “Well, it happens”, I thought. A quick recalculation pointed out a new direction… which eventually led me to the same road. To cut the long story short – eventually I was directed out of the vicinity after almost an hour of trial and error.

I was pretty much annoyed and upset over this TOOL I relied on the get me there and it got me thinking – are businesses and individuals today facing similar situations? Yes, you have the tools (e.g. Facebook, Twitter, Blogs, YouTube, etc) and perhaps even have the guidebook (e.g. how to create compelling content, how to create an awesome Facebook page, etc) but yet unable to get your bearings right?

Are You Lost? 5 Steps to Be Found Again!

#1: Admit That You’re Lost

Sometimes it is difficult to admit that you’re lost. Excuses such as “it doesn’t work for my business” only makes you feel better but it is time to put that ego aside. One thing about social media is that you can never stop learning, especially when it continues to change everyday. Even the pros continue to learn – it is a continuous cycle.

#2: Ask for Directions

It’s time to put away that map or tool (e.g. guidebook) of yours and start talking to people – people that are able to give you advice. The cool thing about social media is that most pros are willing to share their knowledge and expertise. @markwschaefer is one good example with his community {grow}. In other words, it is time to get personal, to communicate, to engage, to get help.

#3: Don’t Take Shortcuts

There really is no shortcut on social media. One said social media is like running a marathon, not a sprint race. You’ll notice that most advice revolves around producing quality content, spending time listening to conversations on Twitter, commenting on blogs, guest posting and etc – all these takes time, it is a race of endurance for lasting results. Buying fans or followers won’t get you anywhere except for boosting your ego. Shortcuts are a no-no.

#4: Test the Directions

This is the simplest step of all but yet the most difficult. Simply because there are many, many out there that either procrastinate, ignorant or simply cannot be bothered with the new directions. Yes, sometimes it may be a detour but as long it gets you there, why not?

#5: Monitor its Results

You need to know how the new directions are working for you. It is only then you’ll be able to gauge its effectiveness (or not) to make adjustments if necessary. A simple tool such as Google Analytics can go a long way if you’re wanting to measure visits to your site.

Have you been lost on social media before? What did you do to get back on track? I’d love to hear your experience!

Beneath the Dollar Signs

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Have you attended seminars by internet marketers promising never-work-again concepts with huge “guaranteed(?)” profits? Or perhaps see them tweeting selling away on social networks such as Twitter?

They show you impressive screenshots of PayPal withdrawals and Adsense payouts, followed by a chart indicating the potential of their “proven(?)” system that make you back your investment within 90 days.

Sounds familiar?

Interestingly, I’ve been bombarded with similar encounters a little more than usual in the past week. I’ve been sitting down with a couple of people to hear of their awesome business plans that can make them thousands monthly and how they are going to start off.

Guess what?

They do not know how to

Sure, they have this product that could make them money and it may come with a guidebook or some sort but do they know how to go about marketing it? Don’t get me wrong – they KNOW what needs to be done. After all, it is in that guidebook provided for. “Advertise on pay-to-click (PTC) sites for traffic”, “Advertise on Google Adwords”, “Use Facebook Ads for targeted traffic”, “Use this web template and get your website started for traffic”. Awesome strategies… but HOW?

I believe all of us are somewhat related to the situation above. It may not  be exactly the same, but have you got caught in a situation where you’re stuck, not knowing how exactly to make it happen for you to replicate the success?

Here are 5 Painful Truths

Painful Truth #1:

Things are never as simple as it seems to be.

See how some bloggers grow at a rocket pace, receiving bucket loads of retweets, Adsense earnings, sky rocketing Google Analytics charts and etc? You’ve no idea how much effort was put for that to happen – many successful personalities only managed to get where they’re at through past mistakes and heaps of experience. Think about this way – if a specific system can get you rich in 90 days, why aren’t everyone rich yet?

Painful Truth #2:

What worked for others may not work for you.

Yes, and I’ll say that again. In fact, what worked for you may not work for me either. Every individual has its own ecosystem consisting of different networks, people, culture, even location. These factors can very well determine how far (or short) a distance you can go. Think about it – if you’re selling football boots among a group of football friends, you can definitely do a much better job than someone else whom has group of friends that plays tennis instead.

Painful Truth #3:

You’re blinded by the dollar signs.

We all want to be successful in one way or another and sometimes, success can be blinding. You saw the potential and you wanted it for yourself. Nothing wrong in that but if you become too fixated on that alone, you’ll lose out all the fun or experience that comes along the way and in some cases, lose out on the success itself. Take blogging for an example: If your only goal is to make money out of your blog – you may not reach it. Simply because you’re missing out on the essence of blogging itself and may have branched out too quickly onto paid advertorials, ad placements and etc – driving all your readers away!

Painful Truth #4:

You’re in for great challenge.

For some, it is a new learning curve – how to create an effective squeeze page, how to use Twitter to build a network, how to create a community on Facebook or in a worse case scenario – how to use that product in the first place. For another, it may be the competition. Understand this – if someone is already making millions out of that specific product, it can mean two things: either the product is awesome; or the market is already saturated. Plus, everyone else that has the same idea with you will be doing the same thing. How will you be different from them?

Painful Truth #5:

Short cuts?

Unfortunately, there are none. One can only advice and assist but there is no success formula. However if you do have one, I would love to hear you out ;)

 

How about you? Have you come across similar situations? Do share them with me by leaving a comment below :)

Dual Roles in Companies: Unrealistic or Overly Idealistic?

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A couple of days ago I had a quick chat with @wordsdonewrite over how irritating it is to see (big) companies still wanting to hire for dual role purposes – sales and marketing managers, pr and social media managers, group development and communications managers and the list goes on.

Not everyone can be successful at being both Batman and Bruce Wayne at the same time. In fact, when Batman is in action, he never is Bruce Wayne, vice versa. This led me to think whether these companies see their employees as dual-purposed superheroes or it is simply an attempt to reduce expenses by hiring ONE person to fit TWO job descriptions.

One Size Fit All?

Now, I don’t blame small businesses for doing the above because they may have financial constrains, especially for start-ups. After all, we’ve heard stories of how the CEO of a start-up company usually is the secretary, clerk, janitor, sales person all at once.

However for established companies, this is somewhat inexcusable. The job titles alone suggests different portfolios altogether and in most situations, the person on the job will have a natural tendency towards only ONE aspect of the job e.g. either sales OR marketing, pr OR social media, group development OR communications. Not both.

Some may see this as a trivial matter but the question really is – does your company / business want to solve a specific problem?

If your answer is yes, then you need someone SPECIFIC to solve that specific problem. A problem with team performance? A group development manager may fit the bill. A communications manager? Does he / she know about group development? Not always. The same goes for sales and marketing. One may know how to strategize marketing efforts but selling can be another world to him / her.

Let’s go back to the initial question: are companies being unrealistic in their attempt to get one to fit all? Or are they being too idealistic in wanting someone to fit all – a Bruce Wayne AND Batman at the same time?

What do you think? I’d love to hear your thoughts!

 

Setting the Temperature: How Hot Are You?

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Have you heard of the term, party pooper? These guys are no fun. They step in and very often than not, kills the mood of the entire environment. How about people filled with enthusiasm and zeal? Are they contagious?

Believe it or not, people have the ability to change the temperature of the room, from hot to cold and vice versa and how hot (or cold) it can go depends on that particular someone – in most cases, the leader.

The leader sets the temperature of the team and the environment he / she is working in. The leader’s goals and beliefs will be transferred to the environment, affecting the performance and the mindset of the surrounding people and will eventually evolve into what it is called ‘culture’.

“In other words, the leader can be liken to a termostat where he / she sets the temperature of the room.”

Having the right temperature

Many books on leadership often talk about how leaders should be always a step ahead and how they should lead by example. What they really meant is that by being a step ahead, they are constantly ‘heating’ up the room temperature through action for others to ‘warm up’ to it – an environment that allows one to feel uncomfortable just staying put and has to keep up / adapt to become comfortable again.

Notice how authors do not talk about being too far ahead of their team? Heating up the temperature too much kills whatever that is inside it. I’m not against goal setting and vision casting, but sometimes a vision too big can become insignificant, impersonal and unreachable (e.g. we want to have a profit of 10 million within the first year for a start up company).

It is important for leaders to know how to control the temperature in the room. Personal conversations, corporate visions, individual goals, support, your mind set and etc are all part of setting the temperature right.

“The trick is really to have a vision that your team can see for themselves and to take ownership, a goal that is challenging yet attainable – and be there to make it happen with them!”

a leader sets the room temperature

Let’s heat things up

What is the level on your termostat? Are you hot? cold? Or just at room temperature? Effective leaders changes the climate of things when they are around and you can definitely do that too! It starts with yourself!

Have you been into a ‘hot’, ‘cold’ or ‘room temperature’ situation before? I’d like to hear your experience :)

How Long Should Your Company Spend on Social Media in a Day?

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This question has been popping up quite a lot in my recent conversations with clients and friends alike – how much is too much and how do one estimate accordingly? Some companies swear by 1-hour daily while some go with 24-hours constant monitoring – is that really necessary?

The duration spent on social media defers from one to another and is dependent on 2 simple factors:

#1: The social media tools your company is using

Some tools require more time to monitor (e.g. Facebook and Twitter) compared to others (e.g. blogs) as tools such as Facebook has a lot more interactivity going on as compared to blogs. Also depending on the size of your network, you may need to spend more time replying to posts, @mentions and comments left by your followers or readers.

The more tools you use will definitely take up more time so be selective! Use only those that matters most for your business and concentrate on them first!

#2: What social media is used for (i.e. its intended purpose)

This goes all the way back to your company’s objectives in utilizing social media in the first place. Is it used to disseminate information? Is it used to promote your products / services? It is used to listen to what’s hot and not? It is used to engage with your customers? Is it used to attract new customers? Is it used to obtain feedback? Your reasons will determine how long you would want to spend on social media. If you’re just wanting to disseminate information, chances are, you’ll only need to spend time on content creation while if you’re there to listen to complains, you may want to play a more active role.

Be clear of what you want to achieve with social media networks as you won’t be able to do everything at one go especially if you’re new to it.

Closing Thoughts

As simple as it seems, most companies intend to dive into the sea of social media tools without first understanding what is required and whether it is really necessary. Not every business requires a blog and not every business have to be on Twitter.

Know your goals and no longer you’ll feel that time is never enough on social media. Know why you’re doing it and no longer you’ll feel that the results does not justify your time.

Coming up next: How to manage your time on social media?

How to: Treat Customers as a SOURCE, not Destination

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Social Media and Customer Engagement

Social media opened the door for businesses and companies to reach customers quickly. In fact, some companies found that having a personal connection with their customers eventually led to a longer buying cycle with over a 179% sale conversion. How cool is that? By understanding the difference between customers as a source and destination, we will look at 4 simple but different ways to treat customers as a source for your business.

#1: Get Them Involved

Instead of pushing them the decision (e.g. a product or a service), get them involved! Listen to what they have to say – it can be ideas, feedbacks and suggestions that can improve your initial plans. After all, it makes sense to listen to those that will be buying from you.

How to do it: Most social media tools such as Facebook and Twitter allows an interactive platform for businesses and individuals alike. Create polls, facilitate discussions, run contests – anything to keep that conversation going.

#2:  Show Your Face

Not literally, giving a human touch to your business does make a difference. A cold, corporate front does not seem to work well on social media networks. They key here is to communicate, talk to your customers and be genuine to everyone of them.

How to do it: Talk to them – drop them a message, reply their posts, ‘like’ what they are doing, ‘retweet’ their content and etc. Basically to be interested in what they are doing as a friend would do for another on social networks.

#3: Let Them Talk

Sure, we love to hear compliments from our customers but they are times where complains and dissatisfaction happen. Do you delete those messages at sight? NEVER! Let customers have their say and address the situation tactfully. Remember, other customers are watching and deleting it often results in a negative impression.

How to do it: Respond within the shortest time possible. Apologizing works in most situations. Provide a short explanation and also request if the customer would like to talk further with a person-in-charge either by phone / email / etc.

#4: Be Transparent

Show them what’s behind the scenes! Nah, you do not need to reveal your secrets but you can always keep your customers engaged by showing them what usually happens in your business. It can be pictures of product sketches or even videos on how to make a donut (if you’re in the donut business).

How to do it: The goal is to keep your customers updated with the latest happenings of your business. Look for opportunities to share them as these ‘backstage’ details often engage customers.

How to: Create a Winning Strategy!

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how to create a winning strategy

One common mistake marketing leaders, entrepreneurs and business owners make is to consistently look for winning strategies outside of your own four walls. True, there are times where ‘thinking outside of the box / walls’ comes in handy but often than not, there is a high possibility that you already HAVE that winning touch and you just do not realize it.

The question to ask yourself is really just this: What is your unique selling proposition? By answering this question truthfully, chances are, that is the key to outperform your competitors – simply by leveraging on the resources, skills, knowledge, tools, systems and talents you ALREADY have!

#1: Identify your strengths first before strategizing

Look inwards – put on paper what you do best. What makes you stand out – Is it customer service? Or a unique product? What talents or resources do you have at hand – Web designers? Programmers? Sales teams?

Once you have these down, work on a strategy that leverage on your strengths. Use them wisely and you may have already won half the battle!

#2: Look at your competitors’ strengths

Look outwards – see what your competitors do best. It is crucial that you acknowledge their strengths and identify how are they different from you so that you can have a strategy that stands out in the industry, and that they cannot copy (at least not that easy).

#3: Make provision for GROWTH

Many people strategize for the now. You need to have a strategy for the tomorrow. Have a strategy that lasts and is able to adapt to changes – simply because things change – especially when it comes to technology. You may have the world’s most advanced software to manage a storefront but your competitors may have an improved version the year after. It happens.

Here’s to greater victories in 2011!