Social Media Sites Of The Future

August 31, 2008

If we could fast forward to social media sites of the future, I wonder what we’d see? And what impact will they have on the world in general?

I don’t doubt the fact that social media is here to stay. After all, it seems that almost everyone is using Twitter, Stumbling, Digging and connecting on Facebook, Bebo or LinkedIn. And because folk need to encourage others to join, for the benefit of the network - many social media sites become viral and grow at a rapid rate.

Bebo was targeted primarily at kids - mostly from the UK. Yet only 3 years after it’s launch, it was sold to AOL for over $800 million. LinkedIn has over 8 million members and Facebook is the biggest and fastest growing of all social media sites with over 132 million members.

I think we’re only catching a glimpse of the full potential of social media right now. And I guess anyone who can see five years into the future, could make themselves a fortune. But lets have a bit of fun. What will social media look like five years down the line?

I’m guessing that as well as some of the large sites we’re seeing now, there will be many smaller niche groups and like minded folk will use them to connect and share ideas. Also, I wonder if we’ll see more life like interaction in the future. A bit like they have on sites such as Runescape, but less cartoon like, with more realistic representations of ourselves.

Where do you see social media sites going in the future? And more importantly - what would you like to see?

Posted by cathlawson | Filed Under Ideas | 24 Comments

The Power Of Blogging For Business Without A Business

August 30, 2008

There’s no doubt that a blog is a great way to promote your business online. In fact, I could almost go so far as to say that blogging is essential for both large and small businesses. But many people start blogging, before they have a business, with plans to make money from their blog further down the line.

Several members of this community are doing just that. It’s a smart idea and here’s a few reasons why:

1) It keeps you focused on your topic, rather than your business. Too many businesses start blogging and focus solely on their own business and what they’re selling. If you’ve come across blogs like this, you’ll know that reading them is about as exciting as doing the laundry. If you don’t have a business to begin with, you’re less likely to fall into this trap.

2) If you choose a topic you’re passionate about, you’re less likely to give up, or run out of something to say. Some people even begin with 2 or 3 blogs, to help them discover which topic is going to sustain their interest long enough to keep writing about it.

Alborz Fallah did just that. He started 3 different blogs and kept writing them whilst he still held down a full-time job. But his passion for cars won and he ditched the other two and kept Car Advice. This paid off, as he now employs several people, gets to test drive some really cool cars and his blog was valued this year, by auditors at $5 million. You can hear an interview with Alborz at Entrepreneurs Journey.

3. A blog is a fantastic communications tool, as you’re able to have conversations with potential and existing customers in the comments section. Beginning a blog without a business will enable you to discover what your readers want and need. And you’ll be able to come up with a business idea by finding a solution to their problems.

4. It generally takes a long time to build up a decent amount of traffic to any website. You can start a blog while you’re still working and use the additional time to save start up capital for your business.

5. You’re less likely to build a meatball business. As Seth Godin explains in Meatball Sundae, many businesses try to make new ways of marketing, such as blogging and social media, work for their business. But this doesn’t always work - it’s like trying to build a sundae with a meatball base. Often, they need to make massive changes to their business first, or start a new business altogether.

This article is part of a series. If you’re interested in starting a blog before you have a business, or you have a business already and you want to start a blog, click here to sign up in a reader so you don’t miss the rest.

What’s your opinion on starting a blog without owning a business first? Are you doing this yourself? Have you seen cases where it paid off or flopped completely? Please share your opinions and ideas in the comments section.

Will You Become A Corporate Blog Whore?
Are You Blogging Like A Barbie Doll?
My Blogging Mistakes - Were Yours This Bad?
What Is A Blog And Will It Feed You Or Eat You?
The Blogging Advice That Kept Me Up All Night

Posted by cathlawson | Filed Under Misc | 25 Comments

Do You Take Precautions?

August 29, 2008

Do you take special precautions to ensure that certain aspects of your business and life run smoothly?

In this article, Urban Panther explains why she’s so careful about not letting the gas run too low in her car. She’s really safeguarding herself against potential disaster.

I must admit, I’m pretty careless about letting my gas/petrol run on the orange light but Urban Panther’s reasoning has made me think.

Also, in this post - Kelly at She-Power explains a potentially dangerous position she put herself in, when she helped a stranger. She asks whether we are making ourselves vulnerable by being too kind. Her chilling article kept me up all night. Are we really thinking clearly when we agree to help strangers out, or are we putting ourselves at risk?

I must admit, I often help others without thinking of the potential consequences and this could be risky both online and off.

What precautions do you take to protect your business or life? Are there times when you’ve put yourself at risk, without stopping to think about the potential consequences?

Posted by cathlawson | Filed Under Mistakes | 31 Comments

Business Referrals: Are You Making This Huge Mistake?

August 28, 2008

Business referrals from a satisfied customer, who has already used your product or service are one of the cheapest and best ways to get new customers.

If you’re like me, you’ll enjoy referring a great business, or freelancer to your friends. Trouble is, lately I’ve referred a few people to businesses I’ve enjoyed dealing with. And would you believe, a lot of those businesses owners didn’t even thank me?

But it wasn’t the fact they didn’t thank me, that bothered me so much. It was the reason why they didn’t thank me.

You see, I’d referred a handful of friends to one business owner I know and trust. And a couple of weeks later, I’d not heard a thing. This surprised me, so I contacted her and mentioned the name of one of the people I’d referred. She confirmed that the person I referred had been in touch and she’d made a sale. But she seemed really surprised to learn that I’d sent this customer to her. I thought about it for a while and then I realised why.

She hadn’t bothered to ask her new customer how she’d heard about her. And to me, that’s like throwing your marketing budget into a deep lake and hoping it will float back up to the surface.

If we don’t ask our customers how they heard about us, how can we possibly know which marketing activities are actually working? And if we don’t know, we could be wasting a huge amount of time and money on things that don’t work at all and not enough on the things that are bringing us the most business.

If you have a business, do you try to find out how your customers how they heard about you? If not, is there some reason why? Depending on the particular type of business - can you think of ways a business owner can find out where their customers are coming from?

Authenticity In Business And Other Lies
Online Networking: Do I Hide From People Like You?

Related Reading On Other Sites

5 Tips For Making The Most Out Of Social Networking Websites
Seth’s Blog: How To Get Referrals

Posted by cathlawson | Filed Under Marketing, Mistakes | 23 Comments