Business Lessons from sucessful entrepreneurs and business leaders: LunchLearning.com

Reading time: 2 - 3 minutes

Total Video Time: 23 minutes 57 seconds

Let’s end our week with another co-creator of a popular networking site. MySpace launched in January 2004 to great success. However, MySpace has not really been thought of for use in the professional world. Many bands have used it as a launching pad for their music, but professionally MySpace is often overlooked. Former CEO Chris DeWolfe addresses this issue in the video below.

For example, according to DeWolfe, companies that go for a more guerrilla marketing, and focus on below-the-line (BTL) techniques, could do well with MySpace.

DeWolfe also talks about the development and expansion of MySpace.

Some of the things you’ll learn in this video:

1. How MySpace deals with competition
2. How MySpace earns respect
3. Plans for MySpace applications
4. How building “branded” communities has been successful for MySpace

From Chris’ bio: Chris DeWolfe is the co-founder and former chief executive officer of Myspace.com, the leading online lifestyle portal. DeWolfe co-founded MySpace with Tom Anderson as a way for bands to release their new music and share with others. The site soon turned into a social networking site that went beyond the music industry. In July 2005, Rupert Murdoch’s News Corporation purchased MySpace.com for $580 million. By 2006, MySpace reportedly had more than 106 million accounts and 230,000 new registrations per day.

(from biography.com)

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Reading time: 2 - 4 minutes

Total Video Time: 36 minutes 15 seconds

You’ve heard from business experts the past few days. Why not spend some time picking the brains of the people who created the major social networking sites? How did they come up with these ideas, and where do they see them progressing in the future? You have to wonder if they knew their creations would get the insanely popular response.

Mark Zuckerberg (@finkd on Twitter) is the CEO and creator of Facebook. He is a perfect example of a young entrepreneur with a creative idea who has gotten so far professionally at such a young age. Facebook went from being a fun social networking site to a way of life. Very few young people these days do not have a Facebook, and the way they connect now is by “friend requesting” new people they meet. As seen in Tuesday’s video from Clara Shih, Facebook has become a social phenomenon that impacts cultural norms. Did Zuckerberg have any idea where this would go? And more importantly, can you get any ideas about how to get your business to succeed? Watch and learn.

In this video, Mark talks about where Facebook has been, how it has evolved, and its plans for the future.

Some of the things you’ll learn in this video:

1. Changes in Facebook from 2007 to 2008
2. Plans for international expansion
3. How Facebook plans to move into sales
4. Can Facebook be a bad thing, to the point of being banned?

From Mark’s bio:

“Mark Zuckerberg is the CEO of Facebook, which he founded in 2004. Facebook is a social utility that helps people communicate more efficiently with their friends, families and coworkers. Mark is responsible for setting the overall direction and product strategy for the company. He leads the design of Facebook’s service and development of its core technology and infrastructure. Mark attended Harvard University and studied computer science before moving the company to Palo Alto, California.”

(from facebook.com)

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Reading time: 3 - 4 minutes

Total Video Time: 21 minutes 5 seconds

Now that we have gotten an overview of social media and how it can help business, we can get into specifics. Let’s start with Facebook. When it started, Facebook seemed to be like MySpace, but for college students. Only college students could join, and while it seemed more sophisticated than MySpace, Facebook still boasted largely a “student” environment. Now, anyone can be on Facebook, and the rules have changed. Employers are using Facebook to scout new recruits, and see what their candidates are really like. Companies are using Facebook to reach untapped markets. The Facebook Era is in full swing.

Clara Shih (@clarashih on Twitter) wrote about the Facebook Era and how it has altered the business world since its inception. Shih explains how Facebook has changed the nature of business interactions, and even the social norms we use in our business interactions. Facebook is also a marketing tool that, used wisely, can be very profitable for companies. It is especially profitable because Facebook is free to join. Free advertising? Absolutely.

In this video, Shih talks about the Facebook Era and how she sees Facebook affecting the business world.

Some of the things you’ll learn in this video:

1. What the “Facebook era” is
2. How Facebook has evolved
3. How Facebook changes business relationships
4. How Facebook changes cultural norms
5. What the Facebook era means for business

From Clara’s bio: “Clara is founder and CEO of Hearsay Labs, which helps brands convert their Twitter and Facebook presence into actionable engagement opportunities and measurable sales. Clara’s new book, The Facebook Era: Tapping Online Social Networks to Build Better Products, Reach New Audiences, and Sell More Stuff has been featured in The New York Times, Fast Company, CRM Magazine, Selling Power Magazine, and is being used as a marketing textbook at Stanford and Harvard Business School. In 2007, Clara created the first business application on Facebook with her Faceconnector application, which integrates Facebook and Salesforce CRM.”

(from thefacebookera.com)

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Reading time: 2 - 4 minutes

Total Video Time: 1 hour 4 minutes 18 seconds*****Skip ahead 10 minutes to get past the intros*****

So besides marketing, how else can you use social media to your advantage? Think about who comes to mind when you see the words “social network.” Probably students or recent grads, also known as the people you will one day be hiring. What better way to scope them out than by checking out their profiles? This is a way to get to “know” candidates before the interview, so you know what to expect. It may help you eliminate someone right off the bat. Or it may connect you to one of their peers who may be perfect for a position you are trying to fill.

Jason Alba (@jasonalba on Twitter) discusses how to find recent college grads through Linkedin. Because Linkedin is more professional, you are more likely to see the candidate’s professional personality and attitude. Also, Linkedin is like an online resume where members get recommendations and get to shot off their professional accomplishments. This is rare on other networking sites that might be more about personal networking. Watch his interactive guide and recruit away.

In this video, Alba discusses how to take advantage of Linkedin as a recruiting tool.

Skip to about the 10 minute mark to watch Jason’s portion, the beginning is an introduction.

Some of the things you’ll learn in this video:

1. Tweaks you can make to your Linkedin profile to improve it
2. How to make the most of Linkedin’s question and answer feature
3. Why joining groups on Linkedin is crucial
4. Making introductions on Linkedin to expand professional networks

From Jason’s bio: Jason is creator of JibberJobber, a website that helps job-seekers find jobs and network. When he had to search for a job in 2006, he realized there were not many tools available for job-seekers, so he decided to change this. JibberJobber can be used as a job search tool, a networking tool, and a “relationship manager” tool, as his website refers to it, for the duration of a user’s career.

(from jibberjobber.com)

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Reading time: 3 - 4 minutes

Total Video Time: 21 minutes 5 seconds

It is hard to imagine how a business could run today without the Internet. Most companies could not function now without it. However, not all companies are likely using the Internet to its full advantage. Since many companies now are run by the Baby Boomer generation, many of the higher-ups are probably unfamiliar with the benefits of using Web 2.0 to benefit their companies. Social media, specifically, has gotten attention, and can be a very useful tool for promoting a business.

Ben Kalkman (@bkalkman on Twitter) is an expert on how to use Web 2.0 and social media to the advantage of a business. He consults companies on how to use social networking to their advantage, and definitely practices what he preaches. A quick Google search of his name brings up profiles on Linkedin, Twitter, and Facebook. This in itself is a perfect example of the benefits of having several profiles. It is a simple, efficient way for your company to end up on the first search results page several times. Also, a “brand” can be established, because you are presenting a unified image to the client in every profile. These profiles let you express the company personality while still being professional, and show that you are open to progressive marketing strategies.

In this video, Kalkman breaks down the very basics of social media.

Some of the things you’ll learn in this video:

1. What exactly is Web 2.0?
2. How social media will help you convince clients they should go with you
3. Advantages of social media over other methods of marketing
4. A new way of marketing your business!

From Ben’s bio: “Ben runs a internet marketing and web design firm, ROCKET MEDIA, based in Arizona. He blogs here and consults professionally on the business impact of social media and internet marketing. Ben is also the CIO for a service referral company, ToFixIt!”

Connect with Ben if you want to explore how social media business strategies strengthen communications, deliver more sales and improve your return on marketing efforts. Or, if you need an effective online presence for your business.

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Reading time: 4 - 6 minutes

Total Video Time: 34 minutes 35 seconds and 44 minutes 29 seconds

Wrapping up this week with a return to technological changes, we’re looking at a movement that has steadily gained momentum over the last few years. Open source software, or publicly developed software, is something that is having a degree of impact on today’s computing that has not been seen yet. Programs like Firefox, the second most commonly used web browser, and the operating systems on many netbooks are open source. This subject is also particularly timely as yesterday heralded a rather significant milestone: the official release of Windows 7.

Robert S. Sutor, the vice-president of Open Source and Linux at IBM and is speaking on innovations, impact, and the sheer importance of the concept of open.
. Sutor has also been named one of Open Source’s VIPs by Computer Business Review for working with people to explain the values of open source and spur adoption in business environments.

The first conflict has its roots in ideology, but has a very real impact on the way any project is managed and developed: and that is simply: what is “open?” Sutor proposes that for something to be truly open, it must be developed transparently and with unrestricted participation from the public. Even more fundamentally, is the question of who is leading the project, and for what reasons are they an authoritative figure? While these might seem like fundamentals obvious in a business environment, with open source projects, they are vital to consider.

In addition to Robert Sutor, we’ll also be taking a look at a panel from LinuxCon 2009 (@linuxfoundation on Twitter) involving a number of specialists in the field including, Noah Broadwater, Anthony Roby, David Buckholtz (@dbuckho on Twitter) and Jeffery Hammond (@jhammond on Twitter) who discuss the impact of open source in business. For those of you short on time and more interested in open source as a part of business strategy, skip directly to the second video.

It is also worth noting that mature open source is not merely a stand-in for a commercial solution. In many cases, such as with Apache HTTP Server, it has become the de facto standard. To illustrate this, the panel discusses how, in many cases, open source is like much like our perception of a Honda vehicle:while it may lack the fancy features of a Cadillac, it’s just as reliable — and far cheaper. The advantages of open source are not just in ideology, but in how they benefit business — particularly small and medium businesses. I hope this was an enjoyable, educational and thought-provoking week! Remember to always think about what the world was like and there things are headed since you’re going to be living in that upcoming world very shortly—and your actions today, will determine your success then.

Think of the past, envision the future!

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Reading time: 4 - 6 minutes

Total Video Time: 53 minutes 36 seconds

The last few days, we’ve been looking at technological changes that can change the playing field that are just arriving or are on the distant horizon. Today, we’re stepping in a different direction and looking at something a little less physical and more conceptual: the transformation from push-based mass production to pull-based mass customization. Or, simply put, selling customers exactly what they want, not just whatever’s available.

Robert Brunner (@rdbrunner on Twitter), the former Director of Industrial Design at Apple and founder of ammunition, best known for designing the PowerBook, hiring his successor, Jonathan Ive, and winning 23 awards from the Industrial Designers Society of America speaks on the importance of the brand and how, more than ever, it’s defining your company. In this lecture piece, Brunner strives to drive home the impact of the brand. However, it’s a subtle, complex element. The brand is not a product, though it draws from it, and the brand is not advertising, though it’s often used in it. Brand is each individual’s emotions towards the company. Or, more generally and purposefully applied, the collective mood of the people. This becomes ever more important when increased customization increases the diversity in product style and thus diluting product recognition.

This power of the idea of the brand is especially important in today’s environment where the emphasis is not on mass production anymore, but mass customization. Businesses in all sorts of industries have adopted this position, whether exposing it openly or as one of their core elements. Burger King’s slogan, “Have it your way” and Dell’s built-to-order flexibility are two prominent adoptions of this concept.

Customization is a powerful element and people have already shown that they are willing to pay a premium to design things to their specifications. Whether it’s food, computers or even refrigerators or garage doors, if there’s an after-market customization available, it’s fully possible to modify it first. Why should somebody else benefit?

Think of the past, envision the future!

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Reading time: 3 - 4 minutes

Total Video Time: 39 minutes 29 seconds

Escape is a fantasy that the vast majority of people share. Virtual worlds have, to a limited extent, allowed that dream to come true. frog design’s Chief Creative Officer, Mark Rolston, speaks on the future of technology with the blurring of reality and virtual environments. Even today, we’re already feeling the effects of an increased virtual presence, but augmented reality is yet to come.

Rolston’s talk at eComm, the Emerging Communications Conference, centers on the rapidly increasing value of the individual’s “second life”. A term largely inspired by the virtual world Second Life, its grown to encompass the virtual persona that every person online develops. While, today, the worlds are fairly distinct, the lines are being crossed.

Shrinking devices with increased capabilities are allowing individuals to experience both worlds simultaneously in ways that could hardly be imagined even several years ago. Phones can create public records of our daily lives that can be played back at will, forming a communal memory. But even more than just an abstract layer above our real lives, Rolston shows how they can be incorporated into a part of our daily lives.

In one vivid example, on the border of what is possible today, he shows an individual with a portable computer, projector, camera, and various minor sensors taking photographs with a movement of his hand and receiving book reviews simply by studying its cover. All of this, he is careful to note, is well within the boundaries of what can be done today.

Individuals, as well as companies, are free to leave their mark in these meta-worlds that cross boundaries. People like to leave their mark and, if Google Maps is any indication, people will tag places with ideas or comments wherever they go. However, this is a world that is still in its infancy and whether or not it becomes a turning point
depends on how readily people will accept and utilize its capabilities.

Think of the past, envision the future!

Reading time: 4 - 6 minutes

Total Video Time: 29 minutes 26 seconds

Dr. Werner Vogels (@Werner on Twitter) is the Chief Technology Officer of Amazon.com and one of the key drivers of innovation within the company. As a result of his experience developing Amazon’s systems, he is regarded as one of the world’s foremost experts on scalable systems. With the natural expansion of these systems being “Cloud Computing,” it’s no wonder Dr. Vogels is an expert in this area as well.

What is “cloud computing” though? The term is still being defined, yet one doesn’t have to look too far from scalable systems to see the common elements. For example, instead of having immense databases and records administered locally, cloud computing seeks to shift everything you’ll allow it to, to a distant server maintained by another party—”the cloud.” Systems no longer have to be designed for peak capacity or go obsolete in several years time. Many of the limitations that were once inherent in operating computers are lifted. It is the transformation from computer capacity being a finite commodity to an infinitely available utility.

Vogels begins with a brief exploration of what cloud computing is to him and Amazon and what is capable within the cloud, moving on to note that the true beauty of the cloud infrastructure is that the people using the systems, not the designers, are the ones pushing the limit and developing new and innovative uses.

The wonder of cloud computing is that it has the potential to transform many industries not only from within, but by outside influence as well. OnLive (@OnLiveGames on Twitter) is a recently established company founded by Steve Perlman to allow entry-level computers to run the latest games at top quality. The secret is in utilizing processing power elsewhere and simply streaming the resultant video to your computer. Taken to the extreme, this results in the ultimate thin clients: computers that do nothing but go online, accessing content elsewhere.

No new technology is not without its drawbacks though! Frank Gillett, vice-president and principal analyst of Forrester Research cautions us that due to the incredible potential of cloud computing, the hype is overblown right now. The changes that will be brought about are very real, but it is important to view things with a judicial eye and not be drawn in by the new buzzword.

Think of the past, envision the future!

Reading time: 3 - 4 minutes

Video Time: 24 minutes 55 seconds

Hello, my name is Alan Chang and if you’ve followed us before, you’ll know that we here at LunchLearning explore a different theme every week and if you haven’t—we do. This week, we’ll be looking at paradigm shifts that have transformed entire industries as well as newborn technologies and platforms that have the potential to bring about change yet haven’t quite matured and reached their full potential yet.

Nikesh Arora (@nikesharora on Twitter), one of the presidents of Google and responsible for strengthening their core business, discusses the gap in technology usage between generations. In addition to giving Google the focus they had lost when they grew, he was a critical piece of the puzzle for a number of other businesses, such as T-Mobile, whose industries had changed dramatically through the years.

Changes in the market are obvious in hindsight, but the secret to their importance, and success in their utilization, is to understand what is a revolutionary product and what isn’t. Mobile phones were once considered an elite product, with only the richest and most important people owning them. Similarly, until recently, as Brandon Shook explored last week, games were considered best for targeting children. Things have changed.

Social networks are rapidly increasing in prominence, visibility as well as importance. However, knowing that something is going to become the standard is not enough. Being able to determine exactly who the winner will be even a few years in advance can make a tremendous difference. Just as the landscape of the internet was different ten years ago, it will be something entirely different in ten more years. Taking steps to capitalize on these changes will strengthen your position.

Within this video, Nikesh Arora briefly considers a variety of areas ranging from viral marketing and interacting with customers to company reach and market research. All of these things, and more, have changed throughout the years and will continue to. Equally important, each of these can be directly attributed to the success of failure of a company. Somebody has to succeed, so why not you?

Think of the past, envision the future!