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Bernard Madoff, convicted of running an $65 billion Ponzi scheme, was sentenced to 150 years in jail. What’s your take on his punishment?
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The search for business contacts is fast moving online. Social networks -- long the domain of youngsters interacting with their friends -- are increasingly attracting the corporate set on the hunt for sales leads, new hires, new jobs, vendors, contractors and other contacts.
For business users, the most popular site these days is LinkedIn, which boasts more than 13 million active members, up from 8.5 million last year. Among other, albeit much smaller, networks are ones run by Orkut, Ryze, Tribe.net and Spoke. Facebook, the iconic popular network for students, is also now full of specialized business networks.
Consider setting up your own company networking site, providing an easy way for your employees to present ideas, for customers to check out and comment on your products and services and for vendors to seek your business, among other things. Firms can create their own networks using the online service Ning or their own in-house software.
One sporting goods maker, for example, is attracting customers by hosting discussion groups and providing a place for customers to post pictures of their various adventures. The firm also posts frequent promotions on the site that are helping the overall sales effort. A cable TV travel network, meanwhile, draws eyeballs by getting people to set up their own pages and post comments online.
"The more we can engage the customer, the more value we create, and the more they can buy from us," says social networking consultant Rich Lyons of Lyons Consulting Group.
Social networks are a great way to interact with business associates and build contacts. Start by posting your company and individual profile, including your business and academic background. To build a network of sources, search for names of people you know or send e-mails to people in your computer address books. Once these people are in the network and have listed their acquaintances, you can look at their lists and make contact with their friends. But to do so you'll need permission from the friend who posted the list, or to ask that friend to intercede on your behalf. So what begins as your own short "address book" can soon grow into a much, longer list of connections.
Networking Web sites are especially useful in hiring. Have a certain job you need to fill? Looking for a special set of skills? A broad network of experts in your field can usually yield a good candidate or two. And it makes it easy to keep in touch with former employees who may be interested in coming back. Such sites can also be helpful in checking references. They can often lead to people who can provide insight into a job applicant -- people above and beyond those provided by the applicants themselves.
Industry networks are a particularly good tool for salespeople, allowing them to tap into a veritable treasure trove of potential customers. They're also a good advertising vehicle for luring venture capital to your firm.
But as useful as social networks may be, keep in mind some of the drawbacks. Discussion groups can become prone to spam. Private information becomes public. And by listing too many acquaintances, you may end up with more "friends" than you really want.
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POSTED BY: Jay Kumar (September 04, 2007 12:00 PM)
The fact that a reputed magazine like Kiplinger is quoting a "Social Networking Consultant" is interesting.
Not sure if it is the immaturity of the editor or the maturity of the social networking site that is to be considered here, but it is funny!
Are we going to have "web-page reading consultant" soon?
POSTED BY: philip tadros (September 04, 2007 07:48 PM)
being productive can be charming -- social networks are facilitating niche exchanges with a face to the resume and or message. i love it, it's simple and amazing. The webs that can be weaved. love it.
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