Time for a Change?

I was recently invited to submit a paper for publishing at EDiNEB (Education Innovation in Economics and Business) Conference, here is a short extract to see if it stimulates some debate!

The pace of change in the 20th century was phenomenal, to some it was even frightening, and it is still accelerating rapidly as we journey into the 21st century. Primarily driven by developments in technology, the impacts are being felt in all areas of our lives from the way we shop and the way we travel, to the way we access entertainment and even memories!

Change is always happening and, although the pace may vary in different aspects of existence, the increase in velocity overall means that we are now living in a time where paradigm shifts are not just possible, they are starting to become expected.

Technological capability in the information age has already affected major changes that empower the individual, most of which are charactarised by visibility, accountability, accessibility and connectivity. The result is a fundamental shift in the way we live, where information is accessed through technology to augment our physical reality continuously, 24/7. The way we communicate, the way we learn, the way we make decisions as well as the way we do business and the way we work.

The way we communicate

- We can access various levels of information about individuals (and organisations) across a range of channels as well as their associations and associates, be this in a social or business context
- We can each share layers of data about ourselves and others, managing access across a growing range of direct and broadcast media channels
- We are increasingly held responsible for what we say and do in the various roles we adopt in our working and social lives

The way we learn

- We can get answers to almost any question immediately through the internet, usually free of charge
- We can store our knowledge and even our memories (photos) externally, accessing them and sharing them in an increasing variety of ways
- We can effectively leverage the knowledge across our contact networks learning from our peers and sharing our own insights, and now formal training from top tier academic institutions is starting to become affordable and accessible online via MOOCS (Massive Online Open Courses)

The way we decide

- We can research ideas managing the “media filter” and choosing trusted sources to inform our opinions
- We know with a greater degree of certainty whether companies (and people) are competent and trustworthy
- We can continuously review and refine what holds real meaning for us, from big picture to specific issues, causes and beliefs

The impacts of change on the economic landscape and the world of work are equally compelling. Predictions made by eminent “Futurologist” Dr James Bellini only a couple of years ago are already becoming increasingly evident across the world.

“The [freelance] worker of the future will need to be a self-governing, self-marketing one-person enterprise.”    

Dr James Bellini 2010 (From PCG 2010 Report “Freeing Up Potential”)

All of this technological advancement is empowering individuals in completely new ways, inspiring a new “nation of shopkeepers”, a whole ecosystem of lean and agile micro-businesses, natural marketers and collaborators unfettered by the paranoia of competitive capitalism and not bound by endless bureaucracy.

I totally believe that this naturally emerging micro-business economy is an example of (socio-economic) systems ‘self-righting’, in the way technology has returned power to the individual, helping restore balance through collaboration and consensus. It is taking us towards a more sustainable future in terms of employment, commerce, ethics and the environment where individuals leverage the internet as a “tool for conviviality” to define meaning in their own working lives (Ivan Illich in 1972).

Sharing is Caring! GUEST POST

This was something written for the www.mediatoreal.com blog earlier in November, but I think it may be of use to some of you if you haven’t seen it already…

In celebration of Entrepreneurship Week and Global Sharing day I want to make available a couple of the tools I have been using loads with clients this year.

Having spent time at the British Library on Monday in their Business Village event, and an afternoon in the company of some very forward thinking Social Entrepreneurs at The People Who Share’s gathering at Mozilla’s lovely space in London, I decided it is my duty as a caring stoker of the economy to talk you through a few of the approaches that form the support I provide to companies looking to grow.

A good place for me to start is with a practical tool I use with Startups – my Thought Leadership Model for social media and conversational marketing.

My belief is that it has become practically impossible to credibly claim to be an expert in anything these days, the world is simply changing too quickly. The pace of developments in technology and therefore all areas of business (and life in general!) means that, in some cases at least, 20 years of experience in a specialist field is not nearly as valuable as having your finger on the pulse of current and emerging trends (admittedly you can have both!)

What this means is that many younger and less experienced people are in a fantastic position to provide thought leadership on specific areas of business and commerce, based on their understanding of what’s happening right now and their ability to project forward and perceive a future state in keeping with the rate of change.

It always begins with LISTENING, give yourself time to form a valid opinion

You have to get to know at least some of the following before getting involved…

- who is talking about what and how influential are they?

- where is the conversation taking place and why did it start?

- what are the prevalent opinions and how have they changed?

- why is the subject relevant and what makes it important right now?

- how has the discussion evolved and where’s it heading?

- when is the right time for you to join in and what should you say?

For most businesses still in their infancy the immediate opportunity with Social Media is more about joining an existing industry or need specific conversation, rather than monitoring and addressing discussions about your own brand. The whole exercise can become quite labour intensive as you manually trawl through the seemingly endless data in search of relevant groups, threads and hashtags. Groups to join on LinkedIn, people to follow on Twitter, competitor Facebook pages to monitor and community sites that look like they might be interested in your specialist field. The risk of paralysis through analysis is not insignificant! Depending on the size of the task, but not necessarily your budget, there may be some bright young thing out there who has developed a handy programme, app or otherwise described gadgetry that will do a lot of the hard work for you.

There are loads of tools to assist with this sort of thing online. From elaborate Social Media monitoring systems like Salesforce.com’s Marketing Cloud (formerly Radian 6) and Sysomos Heartbeat but many of these are expensive. The good news is there are a huge number of free tools available as well. Probably the best known and certainly the simplest is good old Google Alerts. Just set up email prompts based on relevant keywords and decide how often you want to be notified about what’s happening. Beyond this essential core standard lies a vast array of more powerful solutions that are still free but offer far more granularity in the way of analysis. One in particular that caught my eye is Social Apps HQ, they’ve combined all the key elements from keyword conversation tracking, brand monitoring and influencer ratings to sentiment analysis, mention trends and response tools.

Once these inputs have informed your opinions, you’ve identified where the conversations are happening and who you need to engage, just share your views. Comment on blogs and articles, use the hash tags, get involved. And as you build your credibility why not start your own discussions around topics that will further demonstrate your relevance and insight, the stuff that will secure you new clients. Just make sure you include links back to your site to help people access deeper content (perhaps your own blog or white papers), don’t be afraid to include a call to action in messages, just ensure it is relevant and respectful – a natural part of the conversation not a sales message.

Use the conversational activity across social media and comment threads to join the dots between the discussions and your more detailed information in your site. Create a natural journey from discussion to service information and purchase decision, taking a route that demonstrates your understanding of the landscape and acknowledges…

-          TRENDS in the economy and or a specific market sector

-          IMPLICATIONS for businesses and consumers affected

-          POSSIBILITIES in terms of potential responses to the situation

-          SOLUTIONS that include your skills and services

The visual model represented above is just a snapshot of my view of a structured approach based on the current media environment. It can be developed and refined as the world changes while retaining the core principles of Listen, Learn, Engage and Influence (although, I find the word influence has negative connotations – can anyone suggest an alternative? I want to say “help” or “assist” while acknowledging that this is marketing but with a focus on customer need!)

Do let us know if you find this sort of thing useful, there is more to share if it will help you develop your approach to marketing and business strategy!

Hack It Up!

I am sure you have all had the same feelings of frustration as me at some point, when you are attempting to get something done and you start thinking “it shouldn’t be this difficult” or “this just feels like bureaucracy gone mad!”

The mountains of red tape we sometimes face can bring on the red mist, we can get angry or we can do something about it. One option is to simply complain but that rarely results in a solution. Another option is to actively look for or create short cuts. This is Process Hacking.

When an organisation insists on putting obstacles in your way, making you jump through hoops in the shape of form filling and endless layers of sign-off and authorisation, the solution is to get creative, change the game and find a new route to the result you are after.

There are several examples of this sort of thing happening already, especially in relation to Government administrative processes. I read online about a resident in one of the London Boroughs who attempted to do his civic duty in reporting issues with roads in need of repair that were having a negative impact on his local community. The number of forms he had to complete to communicate the problems to the right authorities, and the delays in any action being taken as the issues were passed from department to department drove him to desperation. As a result he created a community web portal where residents could log localised problems with roads and other similar issues, upload pictures from their phones and, once he had finally established who in the council could do something about it, created a direct feed to their team for rapid response. This has now turned into the FixMyStreet website. Genius!

Other examples that come to mind include the way musicians have developed and adopted technology to bypass the traditional routes to success. In the past getting your music heard on any significant scale involved layer upon layer of intermediaries between the talent and their audience, all attempting to “guide” the output (or dilute it) and all taking a slice of the pie adding cost to the consumer. Now as consumers we have access to a seemingly endless source of new music via Soundcloud, MySpace, Spotify and Last.fm. We are all A&R talent scouts these days, and if we are overwhelmed by the volume of material and need some sort of filter, we don’t look to the record companies we ask our friends for recommendations because that’s who we trust.

And what about print publishing? I regularly hear stories about authors using new digital print technology to self-publish having struggled for years to get a traditional publisher interested in their work. They have been told they need an agent before they can submit anything, agents are either not interested or put even more barriers in their way and they get nowhere. However, once they have their ISBN number and start selling direct to market via Amazon, their own websites and social media pages, the publishers start coming to them with offers! The power of technology (in the right hands) to drive efficiency and effectiveness is phenomenal, people are changing entire industries, is yours next?

Having worked for large corporations I am only too aware that over-engineered processes are not limited to Government departments and having worked in sales I know that with a little lateral thinking there are ways and means to hack a process. Don’t get me wrong, checks and measures are an important aspect of running a decent business, but if they impede agility and the response to opportunity they can kill a business.

Take procurement for instance. The principle of finding the right suppliers at the right price sounds good to me but in large businesses facing hard times this has very readily become – “let’s treat every service as a commodity, squeeze suppliers to get the lowest price, prevent anyone from sourcing outside of the approved suppliers list and design a lengthy process for getting anyone added to it”. The results of this sort of big business “strategic thinking” are often rapidly shrinking revenues masked by a perceived short term increase in profit, but eventually profit suffers as well.

This type of regime stifles innovation and product development, it leads to disengaged employees who are not empowered to make decisions and disaffected suppliers who either have to start charging more to other clients (unfairly), refuse to work with the big brand (at their peril) or suffer in silence and perhaps go out of business. What is certain is that even if they continue the relationship these companies, including marketing and other creative agencies, are unlikely to be delivering their best solutions as it is no longer a win/win relationship for them.

Many large companies have recognised that this sort of approach isn’t sustainable and, as with most things, the cycle of change is moving us away from such wholesale constraints. The changes are in part driven by those “dissidents” within the organisations who have hacked the processes and demonstrated that there is a better way, individuals can be trusted to make good business decisions that improve efficiency and effectiveness in the short and long term.

I was working with a client as mediatoreal recently and we were exploring potential routes to market for her business Bracket Creative. One of the ideas we developed was around working closely with consultants who are already part of the value chain, not only to better understand the end client and get introductions but potentially to form alliances and partnerships that bypass procurement processes by working alongside an existing approved supplier.

When it comes to process Human Resources professionals are renowned for let’s say – getting a bit carried away. But, good news, there is a new movement on the rise even among respected members of the HR industry body the Chartered Institute of Personnel and Development (CIPD) itself. #PUNKHR

If you are unhappy with the time it takes for you to get access to the skills you need to deliver an opportunity then let’s #PUNKHR

If you are concerned with the layers of brokerage and associated cost involved in the recruitment process then let’s #PUNKHR

If you want more localised responsibility for addressing short term temporary skills gaps then let’s #PUNKHR

So, who is ready for a bit of process hacking? Maybe you are doing it already and being thanked for your ingenuity? Tell us about it…

Pay It Forward

When you have been fortunate enough to have found your route to success, the most rewarding thing you can do is help others to find their own path.

One of my favourite quotes on mentoring is from Sir Richard Branson. Even the most successful business people are able to admit that they received plenty of assistance along the way and it is great to hear them recognising the benefits of being a mentor as well as receiving support.

“The support of experienced entrepreneurs is a key ingredient to help build and grow a successful business. Sharing experiences and ideas is also a key requirement of being a good mentor… be prepared to learn as much as you teach!”

- Sir Richard Branson

Back in November our Hive News “Meant to Mentor” email focused on the importance of mentors in the business world and provided some tips on how to find the sort of support and guidance that’s right for you.

As we begin to launch our Job4Life and Virtual Teaming workshops and Boot Camps this summer, we are actively seeking established freelancers and business owners who have the skills and experience to support our Newbee freelancers and entrepreneurs beginning their journey in the commercial world.

The model has been designed to help participants learn about themselves in terms of their marketable skills and talents, their preferred styles of communication and natural ways of working. We then develop their ability to identify potential hirers and communicate the value they can deliver, tailoring communications to specific audiences and their needs. The programme results in an opportunity to respond to a live brief from a hiring business which could lead to their first paid work as a freelancer. Throughout the process the attendees will have access to suitably experienced mentors who can help answer their questions, providing guidance on key issues and considerations.

We are already seeing plenty of interest from undergraduate students and we are working closely with Universities and organisations like NACUE (National Association of College and University Entrepreneurs) to provide support to the most ambitious emerging talent. But age isn’t the key determinant of ambition. There are many individuals finding themselves in career transition by choice or otherwise. These people are looking at the changing face of employment and considering freelancing as a positive potential career direction for the first time.

Within the range of people considering how they can self-promote to secure freelance work, beyond the students already mentioned, are key groups like Mums on Maternity Leave who have proven professional skills and experience that they can use to bring real value to business projects as a virtual team member. Also, slightly older business statesmen (and women) who don’t want to retire while they still have so much to offer the commercial world in terms of experience and wisdom. If you provide these individuals with mentoring support that helps them shape their approach to self-employment and then blend their mix of energy and talent, there are some amazing opportunities for businesses to create formidable virtual teams to deliver fast paced business growth projects.

There is a multitude of reports and surveys about the effect of mentoring and other forms of non-financial support on businesses, here are some interesting perspectives from a 2011 report published by Youth Business International (YBI) relating specifically to young entrepreneurs…

Businesses are more successful: 55% of young entrepreneurs agree that their business is more successful as a result of the non-financial support they received.

Operational challenges are overcome: two thirds of young entrepreneurs can think of a significant operational challenge in their business that they were able to solve as a result of their non-financial support, that reduced costs and increased profit/turnover in their business.

Loan repayment rates improve: 54% of young entrepreneurs would have struggled to repay their loan over the same time period without non-financial support.

Access to finance increases: the likelihood of approval for a commercial loan more than doubles when young entrepreneurs have established a track record and benefited from receiving a range of non-financial services.

Young entrepreneurs feel more confident: 84% of young entrepreneurs feel more confident running their business as a result of the non-financial support they received.

And the value you receive from the experience of mentoring cannot be underestimated, you will be amazed at what can be revealed about yourself and the benefit of just being around such enthusiastic and creative minds.

Ketan Makwana from Enterprise Lab and Youth Enterprise Live sees huge benefit from providing mentoring and support to others…

“Mentoring is all about developing a platform for others to prosper from… not only does one have to instil confidence or guidance but also provide opportunity… I have found mentoring others extremely enjoyable, educational and empowering. For me mentoring is not just about what expertise I can bring to others, but also what I can learn from them too.”

So, if you have what it takes to help develop the next generation of business leaders, and you also want to continue to learn something new about yourself by working with young entrepreneurial talent, just add “mentoring” as a skill to the talents in your Skills Hive profile. We will be in touch with you about opportunities to get involved with our workshops over the summer.

Why not also add a video clip to your profile which tells us about your personal style of mentoring and how you specifically want to support enterprising new talent.

Getting Tooled Up!

No – I’m not advocating violence! I just want to explore some of the resources available to help you develop your skills and performance, as you take control of your working life as a hirer or worker.

Self development is a really important part of the Skills Hive ethos. That’s why we are so focused on dynamic profiles involving video, so that you can continuously update potential hirers on how you are developing as a person. Continue reading