Traditionally speaking

I went to a University of New Hampshire men’s hockey game the other night. After UNH scored its first goal, a fan threw a dead fish onto the ice. This great tradition, which started more than 30 years ago, represents the visiting team’s goaltender “fishing” the puck out of the net. The crowd goes wild every time the fish hits the ice. The fish throw reminded me of other age-old sports traditions such as the seventh inning stretch in baseball. Or Ohio State University dotting the “i” in Ohio spelled out on the field by the school’s marching band.
 
There are also lots of traditions in business, as well. Think of the CEO ringing the opening bell at the NYSE to start the day’s trading. How about christening a new ship by smashing a bottle of champagne on its bow? Or “dress-down” Fridays?
 
The brilliance of traditions, no matter how they originate, is their ability to create a sense of belonging and community. They bring people together, get them excited and engaged. What’s your favorite tradition?

Making sense of Google's cleantech venture

GoogleI've been trying to get my head around Google's surprise announcement this week about it getting into the clean energy business. Is it for for real, and if so, why? Or is it just a PR ploy?

While its new foray into the wireless and mobile phone business isn't too hard to understand, getting into the energy business seems like such a stretch for the search giant. Having plumbed the ecotech and business bloggers for reactions, Martin LaMonica at CNET's Green Tech Blog did one of the best assessments of the upside to Google's announcement.

 

 

Bruce Springsteen and tech innovation

I saw Bruce Springsteen in concert the other night. The first thing he said was “Is there anybody alive out there?”
 
It was a packed house for the Boss, so he didn’t mean it literally. They were lyrics from his new single “Radio Nowhere,” an apocalyptic vision about seeking a human link in a dark-hole world.
 
Bruce has been around a long time. He’s 58 years old. His debut album came out in 1973. Thirty five years of making music. That’s staying power, sure, but this isn’t what makes him special.
 
As I watched the Springsteenian faithful sing every lyric to every song with gospel fury, it struck me how the Boss personifies career innovation. His music has ebbed and flowed through the years, including pop, country, soul, political, Americana and more. But through it all, he’s remained true to himself and his ideals.
 
Bruce keeps finding ways to connect. And he’s constantly improving his “product.” How many concerts have you attended where songs from the new album are played and people are shouting “Play the hits, not the new stuff!”  Last week I was actually more excited about Bruce’s eight new songs then nearly all the legendary stuff. His new album, “Magic” is that good.
 
“Pour me a drink Theresa, in one of those glasses you dust off, and I’ll watch the bones in your back like the stations of the cross.”          
 
As he told Rolling Stone, “That’s my business, that’s what it’s all about – trying to connect to you… being a conduit for a dialogue about the events of the day… At this point I’m in the middle of a very long conversation with my audience.”
 
All this brings me to technology, communications and public relations. As I drove home on a dark night with 34-degree flurries hitting the headlights, I thought about how some of the giants of our industry not only survived, but improved and innovated, because they stayed connected.
 
Apple started up three years after Bruce. They innovated like crazy but when Jobs was ousted and Sculley came in, the culture changed and there were challenging times including a lawsuit against Microsoft that bogged the company down.  When their founder-compass returned, he restored the visionary passion. Not only did Jobs reinvent the music industry (and his company in the process) with iPod and iTunes, but he continues to one-up himself. Seven generations of iPods since 2001. Seven!  I bought the new iPod touch two weeks ago for a friend and was blown away with the innovation not found in my sixth generation iPod. How many of you want one for Christmas?
 
IBM is a terrific example of a company that’s been around a very long time but keeps improving. Nearly 100 years since their founding, but they’ve stayed viable and connected, despite hurdles that killed all the others. IBM was one of the BUNCH companies during the mainframe era, remember? (Is there anybody alive out there?)
 
Eventually Burroughs, Univac, NCR, CDC, Honeywell, RCA and GE all exited the computer business. But IBM went from mainframes to minicomputers then got into the PC business in 1981. The company faced massive antitrust challenges, layoffs and in 1993 reported a nearly $5 billion loss, the biggest corporate red ink ever up to that time. But somehow they kept transforming, refocusing and improving. They got into software and professional services, and today they’re # 15 on the Fortune 500. Not too shabby.
 
EMC’s been around since 1979. They’ve gone from memory boards to disk drives to large storage subsystems to software to professional services. They took risks entering the virtualization game in 2003, but ended up winning big with their VMware acquisition in 2003. This year they sold a 10% stake in VMware, which trades at a market cap of about $30 billion. Not too shabby, redux.
 
The communications industry is also a living example of longevity and improvement. Public relations agencies have been around since The Publicity Bureau opened its doors in Boston in 1900. Today, the PR industry is undergoing an historic transformation as the social media revolution redefines the way clients communicate and build communities. None of us are standing still. We’re all learning new things, experimenting and getting better.
 
Like Bruce said back in 1984 “We made a promise we swore we’d always remember. No retreat, no surrender.”  
 

Social Media as The Godfather

The Social News Watch blog makes an interesting analogue of the Don Corleone family to illustrate the pecking order of the top-level social media websites.

Snippet:

The Godfather showed us a world of beauty and corruption.  Alliances were made and broken.  Those who were good to the family were rewarded, while anyone who stepped in the way was hit.

Social media works in much the same way.  It can be beautiful, offering the best of the web compiled into loosely organized areas where masses of people can flood a worthy website and enjoy its offerings.  It can be corrupt, as spammers use the power of social media to drive traffic to unworthy websites.

Heidi Klum and trade shows

Since I just watched the premiere of one of my favorite TV shows, Project RunwayI thought it timely to use Heidi Klum’s famous catch phrase regarding a topic on a lot of our minds: trade shows, “Are they in or are they out?”
 

Like most of my compatriots, I frequently attend events to deepen connections with clients and meet new people. I find the experience extremely valuable and enjoy seeing, live and in person, what’s new in a particular industry. Lately though, I’ve noticed an eerie quiet at the convention halls that makes me wonder: Are trade shows just a place for exhibitors to “dress up for each other” as Van Morrison would say, or are they helping drive revenue as they were always intended?
 
I decided to conduct my own informal on-floor poll at several recent events to find out what people think about trade shows in general. Are they working? Do they generate quality leads? Is the investment worth it? Are people more interested in virtual trade shows as discussed in this BtoB magazine article and this Beaupre Endgame article?
 
 
About 75% of those surveyed agree that trade shows have definitely become less of a lead gen tool and more of a brand building tool, but even those who see value in attending for brand building purposes say the financial investment (usually substantial) often doesn’t translate into a big return. About 80% of the companies I talked to are narrowing their trade show schedules so exhibition and sponsorship dollars are spent on only one or two of their “sweet spot” shows per year. People also told me that in a lot of cases their companies believe it’s important to “be there” to avoid speculation that something is wrong with their company. That reason doesn’t seem like a good use of precious marketing dollars to me.
 
I want to know what you think. How many trade shows will you attend in 2008? Are you exploring any virtual trade shows yet? Do trade shows generate quality leads for your company? In your opinion, are traditional trade shows in or do we need to say Auf Wiedersehen?

Oprah's lesson

Oprah's school for African girlsAndy Beaupre blogged in September that caring consistency is Apple’s #1 brand-building weapon.
 
Oprah’s performance last week in South Africa (read, watch) epitomized the principle. It was a tour de force of caring, and oh, what a brand she has built. Her press conference on the child abuse scandal that broke Nov. 5 at the Oprah Winfrey Leadership Academy for Girls was an object lesson in crisis management. I never dreamed I could sympathize with a billionaire.
 
Rather than go underground with her legal team, she contacted authorities, launched her own investigation, looked students and parents in the eye, apologized, and laid everything she could out for the media – at the earliest possible opportunity.
 
The day the accused dorm mother appeared in court, Oprah stood at a podium flanked by local authorities and stared into the barrel of the global press corps. She detailed the timeline and the facts, starting with the first inkling of a problem. She was the first to utter the explosive words “sexual abuse.” She publicly acknowledged the gravity of the situation, accepted her share of responsibility as founder, took hard questions, and expressed true emotion: “This has been one of the most devastating, if not the most devastating experience, of my life.”
 
No stonewalling. None.
 
Oprah, who earns $260 million a year and has a net worth of $1.5 billion, made the kind of statements and took the kind of actions that would make any plaintiff’s lawyer drool. She had urged students to come forward if they’d been harmed. More girls had come forward, which under the circumstances, was good: “No one ever, ever abuses just one child,” she declared.
 
Oprah was more than accountable; she was inspiring. The debacle could have closed the school, snuffed out hope for its students, and emptied the talk show empress’s deep pockets. Whether it was spin, courage or both, her on-the-record statement was authentic:
 
“I’m happy for the attention because it is one of my goals in life to put child abusers, whether they be in my home, whether they be in my workplace, or in this case, in the academy, to put them where they belong. And that is behind bars.”
 
The students who came forward, she said, represent “the new generation of youth in South Africa who fearlessly take back their voices to speak up about their concern for their fellow classmates. This is really what we’re trying to teach.”
 
And if there was any doubt about her resolve in light of the crisis, she added: “I am prepared to do whatever is necessary to make sure that the Oprah Winfrey Leadership Academy for Girls becomes the safe, the nurturing and enriched setting that I had envisioned.”
 
This was refreshing, uplifting and rather straight talk (especially during presidential campaign season).
 
The Principled Profit blog hailed the appearance as a shining example of “How a Class Act Accepts Responsibility.”
 
All of this is in line with Oprah’s established (and quite credible) persona of caring consistency: This is how a beloved brand endures.

Crowdsourcing for dollars

It’s been a few years since I’ve been able to attend Pop!Tech, the heady thinkfest in Downeast Maine focusing on tech, ideas and projects that make the world a better place. So I was psyched to discover that they were streaming live video of the conference this year.
 
I tuned in just in time to hear Jessica Flannery talk about her remarkable non-profit venture, Kiva.org. While I’m still not completely sold on the social web’s “wisdom of crowds” crap, Kiva.org represents everything best about the virtues of crowdsourcing in my opinion.
 
For those not familiar, Kiva.org blends microfinance with social networking, enabling folks like you and me to loan money directly to entrepreneurs in the developing world so they can lift themselves out of poverty…
 
…like Margaret Wanjiru Njenga, a 50-year-old mother of five who could dramatically boost her family’s standard of living with a simple water pump for her struggling mushroom farm business….Or like Angel Asenov, a 29-year-old Bulgarian who needs a mere $850 to start his own bicycle repair shop.
 
In an Internet world where there’s a social network for virtually every social cause, Kiva.org stands out because it’s so simple, practical and effective. You and I become a social network of virtual bankers, of sorts, pooling our financial resources to fund life-changing small business ventures. Individual loans as small as $25 can quickly be pooled into the $1,200 that Margaret needs for her water pump. Unlike most charitable contributions, all the money goes directly to the target. The loans are interest-free with manageable repayment schedules. Everything is transparent, with direct interaction between the community of financiers and borrowers. While it may not be capitalism at its wisest, it is certainly capitalism at its finest.
 
And it’s the gift that keeps on giving. Although the loans are repaid to the lender, Kiva members tend to reinvest their funds in new ventures, again and again.
 
Can the Kiva model be extended to other philanthropic forms of entrepreneurship and venture funding? Probably. Can microfinancing networks be applied to for-profit lending opportunities? They already are, but I won’t give the sites any visibility here. Instead, with the office’s annual Holiday charity drive soon upon us, I’m going to recommend that this year we don’t donate any money. Let’s loan it instead.

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