Posts tagged CEO
by Ben Lopez
When I asked this question, I wasn’t looking for replies to Webster’s definition of professional. I literally wanted people to share their gut reaction when a person says to them, “I run an internet business.” There was no right or wrong in this poll, it was strictly one’s own personal feelings on internet business.
In Part 1 you heard from some of the participants and the reasoning behind their views, and I’m sure you’ve since formulated an opinion of your own. I didn’t comment at the time to avoid influencing anyone, but I can now openly state that I do in fact consider online businesses to be professional. Think of a church. The church is the congregation, not the physical building itself. Do you become any less a part of the church once you’ve left the building? Of course not. In the same way, business is business, as it still takes place between people, whether within the confines of a physical location, or electronically among people scattered throughout the world.
But as you can see from the mixed poll results and comments in Part 1, not everyone agrees with me. In fact, I was a little surprised that there wasn’t more resistance to the notion of an internet-based business being considered ‘professional’ based on what I hear on a daily basis. As I touched on last week, how we do business is rapidly evolving whether or not we are willing to accept this fact. So what is it? Why do so many refuse to regard internet businesses as on equal footing with traditional businesses, despite the market’s landscape constantly shifting, often times in favour of virtual goods and services? Well, thats the million dollar question, isn’t it? I could probably dedicate an entire blog to this one topic! Though I imagine the hokey late night infomercials, Facebook’s escalating privacy concerns, and the negative press online scammers bring about are some pretty solid contributing factors. Preconceived notions of internet CEOs sitting around in their underwear, or being socially inept probably don’t help matters, either.
Here’s another possibility to consider: what if these online businesses themselves aren’t what people are skeptical about? What if the hesitation of acceptance actually stems from the internet itself? After all, the internet is another world, full of everything from carrot cake recipes to instructions on making plastic explosives. In other words, the internet is still young, and there’s still quite a bit of uncertainty, especially with more casual users. A Verisign logo on a secure website may not provide the same assurance that a consoling, in-person meeting can offer, for instance. But that perception alone doesn’t necessarily make either choice more safe or reliable.
I often imagine what the average business model will look like 10 years from now. And I suppose once those 10 years have passed, I’ll begin pondering what new possibilities are on the horizon for the next decade. Whether or not you consider internet businesses professional, I hope this poll has, at the very least, gotten you to ponder right along with me.
The nosedive for Tecmo’s stock as seen above could be a mirror image of the earnings forecast for many small businesses very soon. But the economy and stranglehold of government regulation is only partially to blame. Many businesses are putting themselves out of business by their own hand.
My jaw hit the floor when I read a recent article from Inc. Magazine, that reported when 552 executives with under 100 employees were asked about utilizing social media, 81% admitted they had not even tried it. Not “failed”, not “inefficient”, but had made no effort to pursue the endless potential of social media. In this age of incredible technology, streamlined processes, and whole new worlds of opportunity like never before, that’s inexcusable. This isn’t simply a bad policy, it is a fundamental error in how to conduct business. How you did business 10 years ago will no longer cut it today; we all need to adapt as needed, and if don’t take the necessary steps to keep in step, I don’t see sunny days ahead for your company. I’m not alone in such a reaction; John Seely Brown, a legend of Silicon Valley, expressed a very similar outlook in a recent keynote at Stanford University saying that “something fundamental is broken”, and focusing the majority of his one hour speech on the reluctance to embrace change. If you are a small business owner who has yet to explore social media, I implore you my friend, don’t make the same mistake, and keep in mind always that time is of the essence.
But if you happen to be one in a bad situation, know that it is not too late. The social media highway is open 24 hours; hit the gas and catch up to the pack! This race is ongoing, so you always have an opportunity to find an opening and take the lead.
