A few months ago I started to follow Michael Lazerow, the founder of Buddymedia.com, after watching him in a BBC Interview with Mark Zuckerburg (founder of Facebook). Now, I know our UK readers will tend to have a little “American” filter when they read or see anything to do with America or the people who live there. However – I have been to 41 of the 50 States (and one Federal District) and to be honest, I love the way positivity and a smile is the default and not a frown (or worse…no expression at all). Yes, it may drive you (not me) insane sometimes – but isn’t that a better way to start something? A smile and openess, as opposed to a doubting frown?
In the field of work I am in, I do a lot of research and intelligence gathering to stay on top of the speed of evolution and change that is a natural characteristic of social media. So, with the UK market being about 3 years behind the USA and Australia, these are the two countries I draw inspiration from and get a good feel for where our market will be soon. To be honest though, any business that doesn’t pay attention to what is going on around the world in their field – is just plain silly. We live and operate in a Glocal society (Global + Local) – we are interdependent and because of that…everything we do affects what happens to the other. This simple fact can be used for a massive wave of GOOD – don’t you think? My firm belief is that, if we choose to (as a society)…this interdependence is how we are going to have any impact on improving society as a whole and how businesses operate and treat their staff and their environments.
BUT…what I really wanted to share with you in this post is Michael’s keynote speech at the L2 Innovation Forum in New York towards the end of 2011 and, as a by-product, his own life/business story. In this video clip he describes what a Business Pivot is and the fact that you need to see a Pivot coming way before it hits you…because history has shown that when you, as a business owner start to feel your weaknesses its already too late – you have hit a stall point. Only 10% of businesses have survived after that stall point.
Great presentation right? I’m going to take Michael’s point a bit further and say that social media is one of those fantastic business tools and early warning systems things that will actually highlight when there are shifts in your business – way before your Financial Statments come out. This, for business owners, is gold dust – because you are then armed with knowledge and evidence…and can then react to the changes in your business before they hit your bottom line.