1. Demographics

You want to make sure that the people you’re meeting in this network are actually going to be interested in what you’re selling.   No matter how highly a site is ranked, if it is inhabited entirely of kids from 14-18 and you’re selling life insurance; you are not going to get a good response.  Determining who uses the site, and what percentage of the users fall within your target demographic is a great way to isolate the best sites for you to spend time on.

2. Flexible Search

If you’re working on a popular social network, you may have millions of potential contacts.  It would be pointless to try to include them all as your contacts.  You want to be able to locate people within a certain age group, in a specific location, or with special interests that pertain to your company.  The better the search function, the better you’ll be able to use the network.  You need to be able to do advanced searches using multiple criteria to really zero in on your ideal contacts before you spend any time adding them to your profile.

3. Video Capability

The single most important development in Web 2.0 in the last year is the use of video.  This doesn’t require sophisticated production or high end equipment.  In fact, the amateur quality of these videos seems to add to their appeal.  Regardless, you need to be able to utilize this important marketing tool on any site you choose for your networking.

4. Mobile Capability

Another important development is the use of mobile or handheld devices for web use.  More and more people are surfing the web from their Blackberry, iPhone, or cell.  However, not all websites are set up to be accessible by these mobile devices.  You must be sure that any site you’re using translates to this important platform.

5. Bulk Messaging

While I am opposed to using bulk messages to your whole network, there are times when you need to get some information out to everyone you know…fast!  Bulk messaging allows you to send a single message to everyone in your personal contacts, which means you can be the first to break industry news and share other important information quickly and efficiently.

6. Customizable

It’s true that a lot of people go way overboard with these customizable templates.  Some sites are full of all kinds of crazy graphics which make them look more like the inside of a junior high school locker than an adult social network.  Nevertheless, you do want to make sure your profile is sufficiently customizable because you need to be able to stand out in the crowd.  Some sites will even let you use your company logo and other easily identifiable graphics.  Several of the sites allow you to name your own URL which you can use in conjunction with your regular company website.

These are very basic requirements, and many sites fulfill most, if not all of them.  So in the end, it really boils down to user preference. What do you think? What are some of your criteria?

CEO Myron E. Ullman III from JC Penney – Holding back about 60% of inventory . . . far more than just the 20% held back last year.

CEO Kip Tindell from Container Store – Cut prices in his store across the board by 16% this year.

CEO Steve Sadove from Saks – Hesitant to cut prices but has done so by using different fabrics to lower costs.

CMO Barry Judge from Best Buy – extending their offerings to include things like “electric cars.”

CEO Gary Friedman from Restoration Hardware – Actually raising prices on some great new designs in furniture.

So with everything and anything going out there what do you think? What do you think retailers should do?

We each selected and self-dispensed our preferred caffeinated concoctions at the Einstein Espresso bar.  By popular demand, Innovation Center members had a generous number of free beverages included in their annual membership dues.  Coffees of various kinds, in particular, seemed to be especially popular with the innovator set, and they had created a whole menu of selections named after famous business and technology innovators:  Job’s Java Jolt, Moore’s Macchiato Melt, Edison’s Electrifying Ethiopian and Wozniak’s Wicked White Mocha, among others.  Melissa took a hit from her Bezos’ Brazilian Brew while I savored a sip from my Da Vinci’s Daily Double.

I mused aloud about Melissa’s choice of beverage.  “Ironic, isn’t it, how Jeff Bezos is partly responsible for our being here – in a backhanded sort of way.”

Melissa smiled, and said, “Absolutely – as the founder of Amazon.com, his singular innovation – online book sales – really accelerated the decline of the retail bookstore.  They just couldn’t compete on price – and most of them couldn’t figure out how to turn their brick-and-mortar buildings into a competitive asset, rather than a liability.  But surely if he hadn’t commercialized selling books on the Internet, someone else would have.”

“True,” I answered.  “But he got there first with the right combination of customer features.  He might not have invented the concept of online retailing, but he put all the right pieces together.  We might not have invented the concept of the innovation center, but we’ve managed to pull together the right combination of location, people, capabilities and services to launch the most successful innovation center of its kind in the country – maybe the world.”

“Well…” she began, “Before you give us too much credit, don’t forget the amazing inputs, ideas and suggestions we got from the tens of thousands of people who read our blog.  We wouldn’t be here today without them.  And hundreds of those readers are now members – and are still the main source of our new ideas.”

1. You walk into the store and you see almost a dozen “business concierge” seated at a U-shaped bar, like The Genius Bar at Apple. Apple made a great move when they allowed the bar concept to converge with a help desk concept creating a unique hybrid experience where people can ask questions and get the specific help they need to fix or optimize their Apple products. In the case of the Networlding Innovation Center it would allow people to do the same thing.
2. The concierge walks you through an overview of the center, sharing with you the idea that the center is there to provide a hub of “direction and connection,” The direction is all about helping you get a profile on LinkedIn or a Twitter or Facebook account set up . . . or all three. The connection is all about connecting you to ongoing networking groups where like-focused people are ready, willing and able to help you with connecting around new product and service creations. Additionally, there are many coaching services you can choose from to help you either move through a career transition or create a new company.
3. You fill out a profile for the center with answers to a series of questions around the current needs you have for innovating the way you do business or how your are developing your career–business development, career management, networking, coaching support, resource provider selection–these are all services offered by the center.
4. You pick the combination of services you need currenty and also check off those offerings you might consider for the future based on your budget.
5. You also are given a directory of upcoming events in the center that will enable you to meet other potential partners with whom you can collaborate with for business or career growth.

This is just the first experience you will have in the center. You will find it will be a place you will come back to again and again. You will find that you now have a choice for a place to go that is not as loud as a Starbucks and offers facilitated connection and though leadership to help you with your business or career.

Stay tuned for more adventures in The Networlding Center for Innovation and Collaboration.

Enter the big question everyone asks around networking. Just how many referrals could you get in one year? There are certainly a lot of number floating around out there, but according to a survey I have done with a number of the networking experts (see the article below) I have queried, the numbers that I am hearing and that I have witnessed are between 30-50 referrals.

But there is a catch! There is always a catch, of course. The catch, here, is that you need to set up some form of structured networking group to yield a return like 30-50 referrals. I would also add, coming from my Networlding world, that you need to first focus on the quality of the referral source amd second, on the quality of the referrals from your sources.

First, when choosing the quality of your referral source, consider the following:

1. people have networks that reach wide a deep. If the people you are networking with are new to networking and don’t have a vibrant network, they are very unlikely to be able to provide many referrals.
2. people who are ready, willing and able to make connections for you (and you are ready, willing and able to make connections for them).  So, for example, if the people you network with are so busy on current projects or have personal issues that take up their time, they are not in a position to be good referral sources.
3. people who are in some field that is complimentary to yours. In other words these people will be coming in contact with possible prospects they can refer.

In upcoming segments I will share more about how to ask for referrals and how to provide enough detail so that you turn your referral sources into a supplemental sales force. Of course you need to be prepared to do the same for them. But, when you have the right group of networking partners and have vibrant exchanges where you prepare your sources as to just what you are looking for you will find yourself creating a much richer and more successful pipeline. It’s all about the process.

- Melissa Giovagnoli, Networking Coach, Speaker, Trainer and Thoughtleader on the Science of Networking and Networks

For more information, email me at melissa@networlding.com.

Tell me about how Rand McNally defines “socially responsible” and how they are accomplishing that goal?

We are dedicated to responsible purchasing practices because we purchase 4000 tons of paper a year, given the number of road atlases, street maps, local street guides and other products we print.  We use paper from sustainably managed forests, and we have made other strides in our efforts in this area, too.

We also work with an outside partner called NAEIR to donate obsolete or excess educational products to schools who might not otherwise be able to afford them.  And like a lot of companies, we have a paper recycling program.

Does your own definition of “socially responsible” differ at all from Rand McNally, and if so, how?

I was a political science major in college, and my minor was in environmental studies.  I did a lot of work on public policy related issues and sustainable development.  I got interested in the intersection of doing good but also doing well.  I was taking environmental economics classes as part of my minor, and a lot of classes were about how to solve the world’s problems but how to do that in a business-friendly way so that it made sense.  You’re not just trying to fight the good fight, but you’re also taking into account the cost to corporate America.  So as I explored careers, I tried to marry the “do good” and “do well” messages I encountered in college.

I also had a couple of career changes after college – I was a commercial banker for about four years.  Before that, I also worked at an international development consulting firm in Washington, D.C. for a couple years.  I then decided to go back to business school.  I wanted to look at how to combine all the different interests I had in the business world with my desire to get closer to the social responsibility issues I had encountered during and right after college.

I got my MBA from the Kellogg School of Management at Northwestern here in Evanston, IL.  As I was looking at my job search, I wanted to work for a company whose products I felt good about and whose products made an impact in the world.  I had several friends who went to consumer packaged goods companies, but it just wasn’t my thing.

The CEO of Rand McNally happened to speak in one of my marketing classes.  I went up to him after our class and introduced myself.  He had spoken about the education business in his presentation.  I thought, “Wow, what’s better than helping kids discover the world?”  So I just approached him afterwards and chatted for a few minutes, and we agreed on the spot that I should send him my resume.  It was a great example of networking and taking advantage of opportunities that arise.

So I sent him my resume, and it took several months as it got passed around the company.  But it just so turned out that the company at the time was going through a transition, and our CEO wanted to invest more in our education business.  It had been ignored for quite a while under previous management.  They were looking for a marketing manager, and it was a perfect fit for me, in terms of getting involved with products that had an end-mission. 

What are the challenges as well as advantages to being a socially responsible company?

Every company faces the reality at any given time of the budgets and resources they can dedicate to socially responsible programs and initiatives.  There are some companies who take a holistic approach, though, and incorporate it into everything they do – companies like Stonyfield Farms, Starbucks, Home Depot and Timberland are all good examples.  They infuse it across the entire chain – not just the operations, but also the marketing and how they talk about themselves.  The message that the consumers get is that they are purchasing products from a company who eats, sleeps and breathes social responsibility. The idea is that this makes good business and will give these companies a competitive edge. It’s hard to get to that point, I think, but that would be my idealistic view of what it means to be socially responsible. 

What is necessary to make that leap?

I think it is often senior managements’ priorities.  There are just some CEOs who see social responsibility differently than others do.  Some take a one-off project approach, while others, based on their personal beliefs or views on the intersection of business and society, take a more systematic approach. 

Do you see how social networking can assist with this process or how it helps you with some of your marketing choices?

We’re always looking at ways to promote our educational products. Given the nature of Rand McNally’s educational product line, which I consider socially responsible, corporate partnerships are a great way to extend the reach of our marketing efforts with companies who may have a similar “mission” to help kids discover the world.  And this is a great time for that because of how these social networking technologies support those kinds of conversations.  That’s actually how I reconnected with a friend at a company, one whose mission is to get technology into the hands of students in developing countries.  I knew him from Kellogg, and he was a part of my LinkedIn network.  Through the LinkedIn network, we reconnected and are talking about ways in which we might partner in a win-win scenario.

I don’t know the full extent to which sites like LinkedIn are taken advantage of in terms of partnerships between companies.  I see a lot of job postings or requests for expertise.  But personally I haven’t seen a lot of people exploring partnerships, at least not openly. There’s a tendency, which is understandable, to be really cautious about anything that may compromise trade secrets; so using social networking sites openly for this purpose may not necessarily make sense in all cases.

To the extent that you can get companies (versus just the individual consumer) participating in the dialogue, there is a higher potential that social responsibility and sustainability will take off.  When you get companies really behind those issues engaging in those conversations with consumers on a social networking platform, that’s when you’ll start to see larger scale change. 

Lora Freeman, Networlding Partner Blogger
for more information on our interviews on social networks, social responsibility or the science of networks for your organization, email us at info@networlding.com.

• Learn continuously
• Endorse experimentation
• Break old patterns
• Identify commonalities
• Build unbroken "circles" not networks
• Leverage your assets (behaviors, skills, relationships)

Networlding recognizes the naturally occurring organic interconnectedness of people from all walks of life and simply provides a fertile soil for those seeds of value-based relationships to be planted to create endless possibilities. These possibilities are truly transformational. Think about that.To transform means to change. Something cannot change beyond itself. Its possibilities for change exist only within the limits of its inherent nature. What I see most often in business today is that most business professionals put limits on the people they think they can reach. The truth is we are truly six people or fewer away from anyone we want to meet. It’s really just a matter of making up your list, finding the right partners and believing “anything is possible” which is the number one belief of those people who do build that leadership support network that helps them leverage transformational opportunities for a lifetime.

Is it time for you to begin too? Are you ready? If not now, when?

I’ve been fortunate enough to work with great companies, GE, Heller Financial, Transamerica, and Administaff. My background is in corporate finance, strategy, marketing and business development. I have opened new markets, repositioned products, and structured transactions for both large and small companies. My business development has meant building relationships within the Board room, various levels of businesses and spheres of influence. This experience has been primarily in business to business. I have also been a believer in giving back to the community and have built relationships in a variety of not for profit organizations. I have also had the good fortune of advising entrepreneurs in start up situations. All of these experience help bring a perspective that can be helpful to a variety of situations.

Melissa: If you had to prioritize what you think is most important for companies to focus on today, what would that list of priorities look like?

Companies should develop and follow a strong mission statement and realize that their people are their most important asset. They need create a culture of integrity, honesty, and collaboration and one that keeps an eye on their customers. An eye on the customer is accomplished by monitoring performance and giving and getting honest feed back. Sometimes companies and their leadership put their head in the sand; always know if you are winning, loosing or just marking time. Knowing where you stand helps get you where you need to go.

Melissa: Where do values fit into the work you do?

You start with honesty and integrity and add being respectful of people and their ideas. You create a collaborate culture, by being a team player, and when you win the team wins. Also, you temper all of this with being a realist: seeing reality as it is, not as we wish it was.

Melissa: How does what’s happening online effect how businesses do business today and how they should be using technology—or not, to succeed?

Your product, service, or value proposition need to be available on the Internet; whether to sell, explain, describe, deliver and or service. E commerce is required to compete effectively. You need to assess emerging trends or changes in the marketplace; you must consistently monitor with vigilance your competitors, suppliers and your customers. You need to know what they are saying and what they are thinking; all of this is possible through the Internet and the blog community. With information, you can tweak, improve and drive revenues.

Melissa: If you could have the "perfect job", Chuck, what would that look like today?

Ideally, a great fit for me would be to join a creative corporate environment that wishes to expand its products or services into new markets or wants to take their large enterprise solutions into the small and mid size market which is the third most robust economy in the world. Also important to me, would be a company where my skills and experiences are valued and where I can help build, expand or improve its services or products. It would also be important that I have the opportunity to grow and learn through my endeavors.

Melissa: Chuck, what other things do you think companies should be doing today that they are not doing?

Companies should be developing, challenging, and encouraging their employees. They need to know if they are succeeding with their people development and building talent for the future. Companies should get feedback on a regular basis. This will hopefully create an environment where employees have personal ownership in making the business more successful or better at improvements as they grow and develop.

Melissa: Where do you think the really best business opportunities reside in today’s world of business?

I believe the best opportunities exist in the small and midsized business, SMB space. Many owners and founders have found success through niches and have found success by being solutions driven. The SMB space has become global in nature. Opportunities lie in finding improvements in markets or products no matter how mature if they bring value that is efficient. As I said before there is constant change, and insatiable appetite for new products and ideas. (add any questions you think would be good) Business and the economy are not a straight line. How do you help in a downturn or a period of change? I create a realistic assessment of strengths and weakness and the relevance of the business proposition to a changing marketplace. Then I plan for what is critical to serve the customer. Through my market access, I can get a realistic view of changing dynamics in the market. I communicate with the management team what the challenges are and make recommendations of what is needed. I believe this helps manage expectations of what we can deliver to our stakeholders, customers and employees. Managing expectations brings a practical understanding of what can be delivered to all parties. This typically results in working together toward a common goal.  To contact Chuck directly, email him at charles.smead@gmail.com, 

When he isn’t blogging for TED, David is a General Partner at August Capital where he invests in early stage software, infrastructure and Internet-related companies. Prior to joining August Capital, David was a corporate and licensing attorney who represented and advised numerous Internet and enterprise software startups. David has worked with such companies as Yahoo, Six Apart, Evite, Tickle, PayCycle, Ofoto, When.com, WhoWhere?, DoneRight and Sonique.

David has taught Computer Music at Stanford, legal writing at

Harvard

David is also the editor of VentureBlog. His musings on life can be found on SaysMe, his personal blog. [Back to the TEDBlog]

Since I’d only found out about the event within the past 48 hours, I
thought that there was no way that I could clear my calendar enough to
go.

But then, I decided to go – ONLY because I wanted to offer my
undeniable support to a local friend who made it clear that he needed
support.

In a nutshell, here are my take aways from going to this meeting I
didn’t want to go to:

1. Met the Mayor of Hartford
2. Met Hartford’s Chief of Police and a Councilwoman who happens to be
a writer whom I admire
3. Reconnected with a Board of Education director whose family I know
almost as well as my own
4. Met 10 local business and community leaders whom I’d ordinarily
relish meeting – Believe me, I RELISHED meeting them!
5. Visited one of my favorite sites in Hartford (The Artists’
Collective) Great improvements coming to the neighborhood.
6. Heard a local live band play some classic jazz (Haven’t heard some
of those classics live in a very long time)
7. Witnessed some young men and women do AMAZING classical African
dances.  AMAZING.   My eyes were happy!
8. Saw a beautiful dance excerpt from the Lion King
9. Saw a young man do a breathtaking hip hop dance (He jumped on a
dinner table with a lit candle on it – don’t know if it was planned.)
10. Got a small, one-day contract
11. Met the wife and son of legendary saxophonist Jackie McLean
(http://en.wikipedia.org/wiki/Jackie_McLean)
12. Engaged in really good conversation the entire time  (I LOVE good
conversation! )
13. Met a Criminologist whose views are so clear that it would be a
crime to keep them private!
14. Found a venue tor monthly networking events – which I’m ECSTATIC
about starting!!!
15. Free dinner!

And, yeah – supported MY FRIEND!

I really think I need to get out MORE!
–
Thanks,
Vincent Wright
www.VincentWright.com
www.MyLinkedinPowerForum.com (Yahoo)
www.MyLinkedinPowerForum.biz  (Linkedin)
www.MyLinkedinPowerForum.net (Facebook)
www.MyLinkedinPowerForum.org  (Ning)