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Posts Tagged ‘Kevin Kelly’

Break Through Old Patterns

Break Free, Break Through Old PatternsBreak Through Old Patterns – Yesterday I had the privilege of being interviewed by Baraa Safaa, Baraa attended one of my Open & Free Business Model Workshops, he was intent and very open to hearing my message. Today he is culling smart people and is designing a Podcast show for you, he is currently interviewing people who have a clear perspective on what’s really going on in the business world, more specifically, what’s happening in his back yard.

During our chat, we talked about the stumbling blocks, and what’s the first thing someone could do to break through old patterns, the way we’ve always done things. It’s simple to me of course, but I see the world differently, in fact, I had to learn how to see…all over again. Much of what you know, and much of what you see is not real, it’s perceived. So, what to do…to break through old patterns.

How To Break Old Patterns

The first step to breaking old patterns, is to admit you don’t know….it’s not a bad thing to say out loud, just say it…I Don’t Know! Suddenly, without notice, you will be able to see things differently when you admit, you really don’t know what the hell is going on. At that point, you can step back and look at your business with a different set of eyes, still your eyes, but you can see differently.

Recently I was called by an old colleague, they wanted my advice on what their 20-year-old son should do, he wants to be in the technology sector, what should he take at college, but wants to do something different from what you normally find in your communities. I’ve shared this with you before, but….I merely told him this, hop in your car, drive down the main street of your town, then drive back to where you started, go to a coffee shop with a pen & paper, and ask your self this one question: What’s Missing? What product or service is missing, then find out if there is a market for you’re idea, taken from this exercise. Talk to people, eyeball to eyeball, find out if there is a need, if yes, you may have something, if no….keep writing down what’s missing. Once you’ve narrowed it down, it becomes clearer on what educational development track you should consider.

There’s only one way to break old patterns, stop using them, open your mind to new ways of doing things, more importantly, be willing to do what customers are looking for, sometimes for free! No matter how much you give away, especially online, there will always be an opportunity to make money from practicing the art of free, giving something of value away at no charge. You want to break away from old patterns, try waking up everyday, and ask yourself what you can give away for free today, your mind will change, and you will see people differently. I’m not saying don’t get paid, I’m saying, figure out what you can give prospective customers free of charge to aid in building trust. Trust is the real issue isn’t it. Kevin Kelly once said, you only need 1,000 true fans to buy your product or service, at $100 per fan, that’s a $100,000 per year, but it’s not that easy, you will work hard for those fans.

Stop using your analog brain, and start using your visionary brain – there is a huge difference. Visionary doesn’t put limits on things, it keeps an open & free mind, for the purposes of solving problems, to make sure it’s a viable business that will be profitable. That’s where to start, to break free, to break through old patterns.

 

The Future Of Business – The Social Media Lie

Are you caught up in all the hype of what Social Media can do for you and your business? Have you already invested in Tweeting, and updating FaceBook or LinkedIn, only to be disappointed that the results weren’t as promised. Don’t feel too bad, it’s common, and it happens far more often than you think. It’s not much different than the get rich schemes when you think about it. It was the same back in 1994 when all the experts said you had to have a website or you would go out of business if you didn’t build one.

Today, there is something being taught that’s misleading, in my humble opinion anyway. I believe it to be untrue, a lie. When a Social Media Teacher, Expert or Guru makes the claim, “You can manage your social networks in 20 – 30 minutes a day”, they know not what the say. I know they are trying to appeal to the ” I don’t have time ” excuses, but I can assure you, it takes more than 20 to 30 minutes a day. I’m not saying it’s impossible, OK, I’m saying it’s impossible. I say it because I’ve tried, but the math just doesn’t work!

Social Networks have become so busy, so noisy, the bigger these networks get, the shorter the lifespan of your Update or Tweet gets. Of course you can Tweet & Update 5 – 10 times a day in 20 minutes, but you can’t actually manage your social media presence in just 20 – 30 minutes a day. There is so much more involved, let’s crunch some numbers, I’ll use myself as the example. This may seem overly simplified, but you’ll get what I mean : )

@owengreaves (my Twitter handle)

I follow 9,736

My Followers 20,052

My Tweets 56,635

There was a time back in 2008 when I was getting over 100 followers a day on Twitter, a lot has changed since then, that kind of activity is now considered rare. Unless you’re a rock star like Lady Gaga, a TV star like Ashton Kutcher, or one of the very early adopters that was launched to stardom as lovable and likable from the outset, like Gary Vaynerchuk. He is actually more amusing and entertaining : )

Most of these experts, guru’s and teachers make the statement that you can have an incredible social media presence by Tweeting & Updating just 5 – 10 times a day, and you can manage your social presence in 20 – 30 minutes a day. Maybe, but I doubt it.

If the average lifespan of a Tweet is 20 minutes, which it is today, 5 – 10 Tweets / Updates per day doesn’t give you much reach, almost none. In order to get a serious ROI, you would need to a higher frequency. Being active once every 20 minutes won’t build much, unless it’s entertaining, interesting, useful, and or helpful…but even then you’re reaching for a high profile or return on your activity. Many of these networks behave like Radio & TV today, you need high frequency, just flood the networks and the world will come to you. NOT!

If every person following me (20,052) was online at the same time I was, that would be awesome, but they aren’t…ever! That would imply, that all 20k of them are either in or close to the same time zone I’m in, they are all functioning in the same hours I am, give or take 3 hours either way. The next thing that would have to happen is, they all would have to be paying attention to all my Tweets & Updates within the 20 minute time frame, or lifespan of those messages. They’re not!

At a minimum, to be heard or seen every 20 minutes, you would have to Tweet or Update 3 times an hour. The math there is based on a 24 hour clock, so 3 x 24 = 72 Tweets / Updates per day. Even if we drop that back to an 8 hour work day, you would need to Tweet / Update 24 times per day…7 days per week, that’s the minimum right? Sure, you could do that in 20 – 30 minutes a day, if you automated your tweets / updates. But that’s not being present, you can’t have a social media presence and not be present. How could you respond in a timely manner?

Even if everyone were in the same time zone, everyone was online at exactly the same time I was, and they were watching my every Tweet & Update, they’re not. It’s not realistic or possible.

If I’m going to be honest with myself, those actually listening for me, would most likely be lower than 10%. Out of the 20k followers I have, if I’m seriously lucky, 2000 would be online when I am, and out of that 2000, how many do you think are listening, probably less than 200. Of those 200, how many would actually respond, or read, or do what I ask them to do? Probably 20, now those 20 I might consider to be true fans, if there is conversion of some sort, I would believe that, but what is conversion for you? Another question that needs to be answered.

My point is this, managing your social media presence is NOT how much time you spend Tweeting & Updating, that’s your activity. Managing your social media presence is much, much deeper, it’s monitoring your engagement, your interaction, tracking, and developing a strategy to ensure they keep doing what they are doing, engaging with you and your business. Learning where they are from, city & country, a complete makeup / profiles could be valuable for future business. There are monitoring companies that specialize in analyzing your social media data, measure campaigns, and so on, Radian 6 is popular, and it’s not as simple as 1 + 1, it’s complicated data. But that’s the oil you’re looking for, data is the new oil.

There is a huge misunderstanding on what managing your social media presence is, Tweeting / Updating is not managing. Managing implies you are studying the data, studying what your followers are doing, finding out what they want, spending countless hours in Twitter search looking for opportunities to find new potential clients / customers. You couldn’t possibly do all of that in 20 – 30 minutes a day, well maybe, if you outsourced that work, paid someone to meet with you to help you understand what the data means. But they are few and far between, anyone with credentials rarely work for free, and you do want someone who knows how to read the data.

You don’t plug your business into social media, you plug social media into your business, and that’s a whole different story. The best way to learn that is from Olivier Blanchard, the best way to learn how to measure the ROI in social media is from Olivier Blanchard. In fact, you should invest in his book called, “Social Media ROI – Managing & Measuring Social Media Efforts in your Organization“. He lays it all out for you, and I can promise you this, you’ll find out it takes longer than 20 – 30 minutes a day.

Like today, the future of business still won’t have any easy shortcuts, you must work to get the desired outcomes you’re looking for, that includes building a following, building a community of true fans. Kevin Kelly describes true fans as:

“A True Fan is defined as someone who will purchase anything and everything you produce. They will drive 200 miles to see you sing. They will buy the super deluxe re-issued hi-res box set of your stuff even though they have the low-res version. They have a Google Alert set for your name. They bookmark the eBay page where your out-of-print editions show up. They come to your openings. They have you sign their copies. They buy the t-shirt, and the mug, and the hat. They can’t wait till you issue your next work. They are true fans.”

The only way to get true fans is through long hours of hard work, a plan, a strategy, and a full understanding of what being a social business means. Knowing what to look for, and what to do. Social Media is still at it’s infancy, and there are very few who grasp where all this is taking us.

So let’s get off all the hype, let’s filter this with the right lens, there are no shortcuts, and social media is more than just Updates & Tweets…it’s hard work.

I hope this made a little bit of sense? It probably appears like I’m ranting, I am a little, I’m hoping we will all work together to keep things in perspective and not try to take advantage of those who truly don’t understand. Social Media will play a large part of business in the future, more so in the next 5 – 10 years, but today it is still grossly misunderstood, because we’ve never done it like this before. These networks do play into the Open & Free Business Model, it’s how I run my business, and someday you will to.

Go and find your community, your true 1,000 fans, and serve them in such a way that they become loyal, loyalty has been missing for some time now, we now have a chance to recover the once loyal customer from our past.

So guard yourself from hype, the over promise, how easy it is, guard yourself from the social media lie.

 

The Future Of Business – “Everyone” Is Not Your Customer!

Far too often business owners state that everyone is their customer, it’s wrong, it’s just not true. Even if it were true, how could you possibly serve them all, and more importantly, what services & products would you know to provide everyone? Plus, what would marketers do if they couldn’t target market your products & services.

Typically, those business owners reveal their greatest weakness when making that claim. Firstly, they clearly do not understand business, secondly, they don’t have a business plan, and thirdly….they lack vision. I couldn’t speak more bluntly now could I, and I just gave you three reasons : )

If there is one thing I preach more than any other fact, business is and has changed, and you must change the way you think about business, and more importantly, how you think and see your business. Somehow we have to get away from thinking in terms of an exchange before payment, incorporate free into your business model, and how to be satisfied with less customers. That’s right….less!

Kevin Kelly wrote an amazing piece on 1,000 true fans, it’s really a tribe model in my head, but his theory is sound, and frankly is the future of business. His description of a fan is a thing of beauty, taken from the article on his blog:

“A True Fan is defined as someone who will purchase anything and everything you produce. They will drive 200 miles to see you sing. They will buy the super deluxe re-issued hi-res box set of your stuff even though they have the low-res version. They have a Google Alert set for your name. They bookmark the eBay page where your out-of-print editions show up. They come to your openings. They have you sign their copies. They buy the t-shirt, and the mug, and the hat. They can’t wait till you issue your next work. They are true fans.”

Now you might have an idea where I’m going, but I doubt it, I’m hard to follow sometimes. The question to ask yourself is, do you have fans / customers as described by Kevin Kelly? If you do, it won’t be hard to tell, if you don’t, you are probably wondering how to get those fans, and where might they be. If you did a business plan without knowing this description, of your preferred customer (fan), you would still be one degree off true north. Your plan would be flawed, because it would be based on old industrial age thinking, it would be based on what you know, and what you were taught in school. But that’s another topic.

Let’s stick with Kevin’s idea of a 1,000 true fans. In Kelly’s model, every true fan spends $100 per year on you whatever you produce. That means you will generate $100,000, that’s a decent pile of dough isn’t it. So there is your equation, 1,000 true fans x $100 = $100,000!! So what’s the problem?

The problem is not the equation, the problem most of the time is you, you get in the way, you begin to think too much, you still don’t understand the why. My workshops, public speaking engagements, my blog, and my book, is all about why you should change the way you think about your business. Most business owners aren’t paying attention to the why, mostly because they are paying attention to the details of paying the bills, covering payroll, and making sure there is stock. So where will you find the time to see what’s really going on, what’s changing, and how to adopt what’s changing? The stock answer, and I hear it every day, ” I don’t have time”. If that’s true, you probably won’t be in business in the next 5 – 10 years, because the way business and the consumers are changing, you will be forgotten, out of site, and out of mind.

The digital platform we call the Internet, is a game changer for sure. The real game changer has nothing to do with you the business owner, it’s the way people have shifted their buying patterns, from what to how. More importantly, these people formerly known as consumers want more control of your offerings, they want to decide, and they’re already talking about your competition. Why? Because you aren’t thinking like the new consumer, and….you aren’t listening to what they want.

There are over 2.2 billion users on the Internet, and another 3 Billion coming in the next 5 years, I know there are 1,000 true fans for your niche, now do you have time to find your 1,000 true fans? If not, hire someone who can show you how, someone with the vision to see the patterns of a changing consumer(s). You already know someone….wink, wink ; – )

Olivier Blanchard has 5 basic rules on the value of a follower, a fan, and a like, in simple terms, it’s based on the amount of money they spend on your product or service in a given calendar year. The potential of a follower and fan, that is something entirely different, and that equation has yet to be determined in my humble opinion. I think we are very bad at determining the potential value of a follower, a like, or a fan…but know this, it’s not linear, it’s exponential.

If you only need 1,000 true fans, “Everyone”, is not your customer.

Click on this link for the complete story on Kevin Kelly’s idea of 1,000 True Fans

Also read Olivier Blanchard’s work on The 5 basic rules of calculating fan/like/follower value.

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The Future Of Business – Kevin Kelly On Attention Flows

Kevin Kelly is one of many Futurists I study and follow online, I like to pay attention to people far smarter than myself, Ummmm….that includes you. This video is revealing the Future Of Business as a Media, all your streams create and become one medium, what does your media look like?

Kevin touches on many topics without getting into details, he gives you a high-level look at what’s yet to come. We think we are late most of the time here on the NET, but much of what we Futurists share has yet to be developed, let alone available for public consumption.

Enjoy the video:

The Future of Business – Don’t Sell, Just Engage

You’ve either heard me say it, or you have read it here many times, ” The Future of Business is not a skill set, it’s more about how we think”. For some reason business owners always end up at tactics, they come back to the ground level and try to do what they have always done. A great example is the Old Spice Campaign, they went out and created an amazing series of commercials, ran them and missed out on the most important part. Engaging with the audience! Instead they went right to tactics to get more views and more followers instead of actually talking to their audience. They really missed the boat here, they blew it big time. What happened, it became just another advertising campaign that was clever and amusing.

We are entering a huge crisis for business owners, it gets more urgent the longer you wait to educate yourself on how business really is today, and will be tomorrow. Part of the challenge is in the business owners head, they believe they know what is happening, and they don’t want to look foolish either, so they plod along not asking for help.

With everything going mobile and social, more and more to tiny screens, some on larger surfaces, we are moving away from what we have always done. We used to be people of the book, now we are people of the screen (a Kevin Kelly quote). In fact, Kevin wrote a bitty on 6 trends:

1.) Screening

2.) Interacting

3.) Sharing

4.) Accessing

5.) Flowing

6.) Generating

I’ll let Kevin Kelly fill you in on the details of these 6 trends, which he wrote about in 2008, I’m just going to touch on a couple.

Everything is flowing now, it’s endless rivers of content, endless streams. Business today is shifting and flowing from one thing to another. We are going from pages to streams, the PC to the cloud, from Today to NOW (real-time streams), from me to we, from items to data. Gerd Leonhard claims Data is the new Oil, how we harness that data can determine much of our success in the marketplaces. Today, everything generates a stream everywhere. Gary Vaynerchuk calls it our legacy, the trail of digital crumbs that we publish on the Internet is how people will remember us.

Ultimately, our business world online is shifting to a very uncomfortable place, we live in a world where everything is moving to free, or feels like free. Someday soon, like music, all books will eventually be $0.99, and will stay in long tail for many years, generating longer cash-flow. We have been moving to where the only things of value are things that can’t be copied. Business owners need to realize, where ever the attention flows, money will follow.

The psychology of tomorrows entrepreneurs is simple, they want lifestyle not work-style, they will look for ways to get attention, this attention will provide the lifestyle many of us have worked for 30 years to get. They will do it in months instead of years. These entrepreneurs don’t value ownership, ownership of home, ownership of car, they are for more willing to rent, the shift from ownership to rental, where access is better than ownership. The likes of Netflix and services of that nature are driving this new theology. It’s not skill set, it’s how we think, we need to pay attention, listen more, and we have to build things that can’t be copied, like Trust. How do you build trust, get to know your audience, interact and build relationships. Don’t sell, just engage.