The 10 Rules of Building Community

The blog was resurrected yesterday and already I'm dropping bombs!  Today I'm providing the ten rules of Building Community which I included in my Community Manager pitch to talkto!  Enough of the dramatics andon to the value added info:

Community Manager is the buzz term for Social Media Marketers.  A firm's community manager is responsible for engaging customers through social networks with the following goals:

1. Coddle prospective users
2. Gain user feedback
3. Mitigate criticism  
4. Spread the Message

These goals are all aligned with the principles of Inbound Marketing which is the gospel of Hubspot (note they've been voted the best place to work in Boston...cough...cough...look over here).  I don't need to preach the benefits of social media or Inbound Marketing (their blog and book cover it thoroughly) but can interject on the subject of Community Building.  Community isn't something you can build overnight.  It also isn't something you can buy or expect to produce immediate benefits.  Your community efforts can fail miserably if your only interest is to find sales.  Here are my ten rule rules for building community:

1. The user is always right
2. Go where they are
3. Always be fresh
4. Be Responsive 
5. Foster Relationships
6. Encourage your evangelists
7. Amplify your supporters 
8. Address your detractors
9. Get outside voices
10. Be Patient

By no means is this an exhaustive list of best practices for building community but it is a good start.  Looking forward to comments and will elaborate on each of these rules over a few upcoming posts.

And We're Back.

I'm tentatively resurrecting the personal blog after a month long hiatus.  Several forces have been pushing me towards reigniting this flame which will hopefully be more sustainable this time.  The first is because I've finally killed all of the traction I gained over the summer by not posting for a month...so it goes.  The second, I've been working for LetsLunch for ~1 month and feel it's prudent to start reflecting on the experience by sharing my insight.  Finally, my personal life is starting to settle down now that we've moved to Boston (sorry NYC) and now that my Great Grandfather has passed (More on that later) after a month long battle in the hospital.  Although, things could change again as we still don't have a place to live and will likely be moving soon.  Anyone know of a sublet in Cambridge, Somerville, or anywhere on the Red Line...Call Me!

Here are a few titles for some posts I'll be churning out over the next few weeks:

1) What is community and how can you build it?  

2) Why I still read the WSJ...on paper.

3) How to increase your Twitter Followers.
4) What's wrong with change?

No promises on delivery but hopefully I'll start posting again on a regular basis.

Enough, Enough...It's time for a break

Some of you may have noticed that I haven't posted over the past week and a half despite publishing an ambitious schedule (damn you scheduled posts!) for the blog on 8/29.  The schedule called for 4 posts per week (who did I think I could be, Fred Wilson?) including weekly and biweekly series on current events, business, and finding a job.  Why the sudden HP like change in direction?  I've taken a "position" with www.letslunch.com to help them market their incredible product and to increase their user base in anticipation of expanding to new cities/countries.  I sadly haven't had time for personal blogging while strategizing how to post four days/week, write their business plan, manage their social media presence, recruit brilliant talent, help raise capital, and everything else associated with running an early stage startup.

I'll be posting whenever I feel inspired and have time to discuss current events or to provide business advice for the foreseeable future.  That includes my series on finding a job in NYC.  I'll look to put that series together in the fall when I hopefully have landed in a new city (whether that be NYC, Boston, DC, etc).  However, I may actually stick to starting the series of interviews that I mentioned in the Plan as it will be a great way to connect with new people I meet on my adventures.  Keep an eye on Twitter and Linkedin as I'll be sure to push updates when I manage to muster up a blog.

I WILL be keeping a more personal Tumblr dedicated to my new diet and exercise routine which could be quite entertaining.  It should be a little easier for me to post pictures with captions and smaller updates on Tumblr than it would be trying to write 3-4 column style posts per week on Thoughts.  Just another attempt to stay current and hopefully share my wisdom with whomever cares to read.

Who knows, maybe I'll post even more now that I don't have a schedule to keep.

You should definitely register for and try LetsLunch if you're in NYC or Silicon Valley.  It's a great tool for expanding your network or when starting from scratch in a new city like I recently did.  We're looking to be live in other major cities over the next 3-6 months but want to get the product right before we scale out of control.  Like us on Facebook, Follow us on Twitter, and Subscribe to the Blog!

Plan for my blog, what comes next?

This was my fifth month (realistically second) of blogging and its been an interesting experience to date.  My most popular post has clearly been the Twitter Valuation Model but other posts are slowly catching on.  I've introduced a biweekly review of news titled the Random Tangent while starting a new series on getting a tech position in NYC.  It's become a great resource for potential employers (I hope) and more importantly a place to synthesize my ideas (hence the title).

With experience under my belt, I've decided to attempt maintaining a schedule for my posts to encourage consistency and ultimately readership.  Tuesdays will be dedicated to business themed posts similar to last weeks So You're Similar to...or my Twitter Valuation Model post.  Wednesdays will feature the biweekly Random Tangent and business themed posts if the backlog starts to grow.  Thursdays will be dedicated to a series of posts with the inaugural series being How to Get a Nontechnical Job at a NYC Tech Company (I'd appreciate suggestions for a follow up series).  Fridays (with possibly the exception of this week) will be the home for a new style of posts I'll be creating which will feature three question interviews with Tech Founders, CEOs, Sales Executives, and anyone I meet on my trips to NYC.  I'm hoping to learn from the subjects while providing an opportunity for others to experience their passion for entrepreneurship and their startup projects.  This could be a very exciting addition to Thoughts but will require a new device as my Droid X can barely keep up with my email, twitter, and internet use...might be time to get a second phone.

That's the plan.  Now it's my responsibility to stick to it.

The Initial Search...where do I begin?

This is the first post in what will be a series on my recent (still ongoing) job search.  Hopefully each post will provide some perspective for people seeking a position at a New York City tech startup.  They'll be geared towards a recent graduate and NYC outsider but hopefully there will be something to learn for everyone reading about my experience.

Like a good VC, I'm hoping my insight will be useful if I'm successful or not.  If successful, read the series as a what to do.  If not, read it as a what not to do.

So you're similar to...fill in the blank.

My favorite question to ask entrepreneurs is the: so your company is similar to Ning?  Or the Khan Academy? Or Skillshare?  It's the question entrepreneurs hate the most but must be ready to answer immediately.  The answer demonstrates how they've positioned themselves which is critical to success in every aspect of starting a company.  It will lead your marketing campaign, impact your financing options, and set the direction for your product development.

We ask the question because having context helps us better understand a product or company.  It also helps us categorize the company which improves recall.  It's a necessary evil and one I love seeing a person answer as they tend to cringe or jump with excitement.  It really differentiates those who are prepared and know their market from those who still have plenty of work to do.

The reason they hate the question is because being compared to your competition (whether you see them as competition or not) sucks.  You end up living in their shadow if you don't demonstrate a clear difference in value or functionality which can become a tremendous barrier for future activity with the person asking the question.  Know why you're different, be ready to demonstrate it, and out execute your competition.

Hopefully I'll actually start my "How To Get a Job" series on Thursday.  Like the best consultants,  I'll be offering advice without my own successful outcome.  Only difference is I'm not getting paid for it.

Random Tangent Part 2

Here is the second edition of the Random Tangent which at this point will be a biweekly recurring post.  Hopefully the 5 people that read my last tangent (the Twitter valuation post is currently my most popular) found it interesting as I covered a new idea for Google+, The Groupon/Foursquare partnership (I still owe a full post), and thoughts on the Debt Crisis.  Be on the look out for a new series of posts on finding a job in the NYC Tech Scene to premier this Thursday (tomorrow) and will hopefully be posted weekly.  On to the news:

Google buys Motorola, S&P doesn't have a leg to stand on, and a surprisingly good GOP debate gets lost like dust in the wind.

Joyus SWOT Analysis and Market Opportunity

As promised in Tuesdays post here is my expansion on Dan Primack's article about Joyus, specifically his Pros and Cons, by creating a SWOT analysis and going through a simple Market Opportunity exercise.  For those that don't want to read his article, Joyus is a QVC (TV's home shopping network) meets eCommerce meets social experience in home shopping.  The startup will produce ~4 minute infomercials for women-focused consumer products and distribute them on their website where viewers can purchase the item.  Joyus expects to charge a fee for producing the videos and will earn a share of the revenue from sales.  Most of my information for this exercise is from Dan's article as well as the NY Times and Media Beat which all appear to be working off the same press release.  Unfortunately, I haven't had the pleasure of using the platform myself after determining it wasn't worth registering for their Beta (Sorry Joyus not sure I'm in your demographic).  


The SWOT analysis is my interpretation of Dan's Pros and Cons as well as some additional comments I pulled from the article.  Embedding the full Doc was a mess (Not an HTML expert) so I decided to load an image while providing a link to the original Google Doc:  

A Random Tangent

Its been too long since my last post but a two week lack of motivation/inspiration has created a bottleneck of random thoughts.  I've decided to string together these thoughts similar to my June 15th post and my favorite daily column from Dan Primack's Term Sheet: "Random Ramblings."  Without infringing on Dan's IP here is my Random Tangent:

Kind of a long post about Google+, Groupon meet Foursquare, and the Debt Crisis Averted.  Hopefully worth the read.

No Banjo, you can't choose my friends.

A contact introduced me to Banjo the other day and I downloaded the app ASAP.  The UI and features look great and I'm already over the stalker/sketchiness factor of being able to see everyone checked-in around me whether they are using Foursquare, Quipster (My new favorite Twitter friend...even if they don't have a Droid app), Gowalla, Loopt, Google Latitude, Facebook Places, etc.  What I can't get over is the permissions I have to grant Banjo in order to link my Twitter account and fully utilize the app:

1. read tweets from your timeline...Standard
2. see who you follow, and follow new people...ok
3. update your profile...WTF?
4. post tweets for you...Standard

I don't always read the permissions when I download a new app but 2 and 3 stuck out as unusual compared to my other apps.  Why does Banjo need to follow new people but even stranger update my profile?  If the reason is to allow user edits through their interface than it should be explained in some form of privacy document or warning.  Am I paranoid in assuming that Banjo could start manipulating my account or is this a poor example of user education/outreach?  My guess is most people don't read the permissions and hopefully we can trust developers to enhance our social lives rather than hijack our social graphs.

Summary of The Business of Big Data Workshop

I just attended The Business of Big Data workshop which was organized by General Assembly in the Flatiron district of Manhattan.  * GA told me not to attend because the event had sold out but luckily they let it slide when I showed up at the beginning of the presentation (how could they turn away another $20?).  The presentation was by Ben Siscovick and Andrew Cove of IA Ventures which is a dedicated Big Data venture fund located in NYC.  Here is a summary of my notes from the event which was interrupted three times by a faulty smoke alarm:

Twiter Valuation Model re Marissa Campise's Blog Entry: "More Thoughts on Market Sizing"

This post was inspired by a comment on Marissa Campise's blog as it is my crude attempt at a valuation of Twitter given her projections of the revenue potential upon reaching full scale.  Unfortunately, it delayed (and shortened) my previous post on Google+ (expect comments on design flaws next week...need time to use the merchandise) but hopefully it will result in two posts this week.  Also, it could have been completed on Saturday but I haven't been able to find a reliable spreadsheet app which will allow editing formulas (any suggestions would be greatly appreciated) so I had to wait until boarding a NYC bound train in Rutland, VT before booting-up my pre-college D610 laptop.  Therefore this is almost my first entirely mobile blog entry as I used the Blogger and Google Docs apps on my Droid X (full disclosure: I'm a big Google fan if I ever write a Microsoft or Apple blog) for most of the work.  W/O further ado here is a link to my model and below is my assumptions/comments:

***Link to come as soon as I can get my computer on WIFI.  Google docs app failed me again.
Here is the link: http://bre.ad/04qao8

Google Plus...what?

Last week I found myself on the outside looking in at the Google+ frenzy that was their short lived beta test.  Now that I'm in (with everyone else)...I can understand the criticisms Google received for their failure to answer (ask) the right question.  I almost didn't write this blog because Semil Shah covered most of the points to be made about the addition of a new social network but it would be remiss not to include my commentary.

Where Google+ falls short is in its lack of integration with the existing social networks.  Taking their tools and blending them into a new network isn't enough of a value proposition for Google to kill Facebook.  What the ecosystem needs is an application or platform that makes sharing and consuming information across platforms more intuitive.  Google should have created a tool to make sense of the endless stream ("firehouse") of Comments, Likes, Tweets, Retweets, Shares, and now + 1s rather than creating another stream of information in a silo.  Until I can broadcast out of Google +, I'll continue loading Facebook, Twitter, Linkedin, and now Google+ whenever I launch Chrome.

Turntable.fm Design Flaws, Recommendations, and Business Model?

For those who haven't used the new online music player Turntable.fm...you're missing out!  Turntable.fm is Pandora meets throwback chat room meets DJ Hero game mechanics.  The platform allows music listeners to join themed "rooms" in order to "play music together," as five DJs take turns selecting songs that the listeners vote and comment on.  DJs collect points based on the quality of the songs as voted by the listeners and songs are skipped if too many people vote "Lame."  This is the ultimate blend of social and music as First Round Capital Principal, Charlie O'Donnell, put it, "Some services just tell you what your friends are listening to--the digital data exhaust of an inherently unsocial experience.  You listen to music on your own, and your data is broadcasted to your graph."  Turntable.fm is a tremendous tool for discovering new music while "socializing" with users who share a similar taste in music.  The site launched in late May and is still in Beta but there are some potential UI/UX changes that could be made to improve the user experience with this exciting app:

Sorry for the Neglect

Its finally time to start blogging again now that I'm back from the wedding/honeymoon and our post wedding errands are complete.  The extended break from my computer and phone was a refreshing opportunity to lift my head up from what had been two solid months of reading the Mashable, Techcrunch, and Term Sheet dailies which helped fill my inbox to the tune of 650 unread emails (I think I've finally sifted through and responded to the important ones, sorry for the delay).  Time to kick the job search into overdrive while commenting on the companies that have been making news lately.

The most significant tech news from two weeks ago was Groupon's IPO announcement which obviously drew coverage from the WSJ, Economist, and the like of the impending tech bubble.  This was a tremendous birthday present for someone that doubts the staying power of Groupon's business model and who has been preparing a a lengthier blog about the economics of Deal Sites.  This task should be much easier now that Groupon has filed with the SEC and opened the Pandora box that was their operating information.  

That brings me to this weeks news which will clearly be Pandora's first day of trading on the NYSE (full dislcousre: I'm listening to Pandora while posting).  The stock rose as high as $26 in early morning trading but spent the rest of the day returning to earth at a close of $17.42.  This is a gain of 8.88% for those who bought at the list price but far below the $20 price that many institutional investors paid when the markets opened.  Perhaps All Things D was a little premature in declaring that "Pandora has pulled a LinkedIn," which experienced opening day gains of 109% back in May.  If LinkedIn's performance to date (Down 39.2% from its high of $122.7) is any indication of Pandora's performance in the coming weeks then I'll be considering a short sale as it will likely be in the pink slips come July.

Disclosure - I currently do not have any positions in LNKD or P.

Facebook Deals Challenges Groupon et al.

A few weeks ago, the NY Times and Tech Crunch leaked that Facebook was ready to launch their latest product in the US, Facebook Deals.  Deals is simply another competitor for Groupon and their cohort of web startups which offer time sensitive deals at steep discounts for restaurants, golf courses, movies, etc.  Facebook’s decision to compete with Groupon is an extension of their advertising based business model which will pay tremendous dividends for a company looking to grow revenue in anticipation of an IPO early next year.  What makes this announcement interesting (threatening to Groupon) is the fact that Facebook Deals will not charge retailers a cut for using their platform.  That poses a tremendous threat to Groupon’s business model which charges each retailer approximately 50% of the deals price.  Facebook has made the fastest jump possible in the race to the bottom of the group buying margin which will curb the astronomical growth that Groupon has experienced over the past four years.  

Facebook can offer their deals for free because the purchasing data is more valuable to their business model than the potential revenue.  Knowing what people buy in addition to what they Like will make their advertising pitch that much more attractive and should lead to a much larger share of the coveted online display advertising market.  

I'm planning a lengthier post about the Economics of Groupon and why I think it will be another blip of the consumer web industry.  

Intro to Blogosphere

I've finally decided to take the plunge and start writing my own blog.  I previously shunned personal blogs as a venue for self promoters to express their opinions and insight of which I had little.  That attitude has changed over the past two months as I've had the opportunity to evaluate my career goals while searching for a job or business opportunity in New York City.  Not only have I found rich conversations and useful insight on personal blogs but also a tremendous opportunity to connect the countless articles I've read into a useful resource for myself and those that follow.  My primary motivation for starting this blog is to challenge myself by making my thoughts and knowledge public.  The vulnerability of publication will force me to craft entries that are concise and coherent while drawing connections between the resources I've found useful.  Topics will likely include news on the technology, financial (venture capital and EB-5), and energy sectors while limiting my commentary to suggestions for improving business models.

Can I consistently publish well constructed entries that add to conversations and create value for readers?  Only time will tell.