Tweet It: An Overview of How Social Media Can Enhance Your Business?

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Tweet it!An overview of how social media can enhance your business

Hi, everyone Bill Sheridan with the Maryland Association of CPAs and the Business Learning Institute.

So the business case for social media.

Believe it or not, there are still some businesses out there that are debating the merits of using social media to grow their businesses. Yours might be one of them. And thats OK.

Im the first one to admit that this stuff is hard. That its not easy to see what the return is. That its hard to see its value.

And if you think that way, youre not alone.

But what I want to pass onto you today is this:

It doesnt have to be hard. There is a return. It does have value.

And Id like to make that case for you today.1

Bill Sheridan, CAEThe Business Learning Institute

Polling question No. 1

What generation are you?

SilentBaby boomersGeneration XMillennialGeneration Z

A quick look at our agenda:2



What social networks do you use regularly?

FacebookLinkedInTwitterInstagramSnapchatPinterestYouTubeOtherNone




Which social network do you use most often?

FacebookLinkedInTwitterInstagramSnapchatPinterestYouTubeOtherNone




Does your organization allow the use of social media in the office?

YesNo


Forget ROI.Whats the

RONI?


So whats the most frequent question we hear when it comes to the business use of social media?

Whats the return on investment.

I hear that over and over again. And thats a fair question. When you sink that much time and money into something, you want to make sure it pays off.

And there IS a return, and well get to that in a few minutes.

But a good friend of ours, Reggie Henry tech god from the ASAE he says theres a better question that we need to be asking ourselves:

Whats the risk of NOT investing?

That risk is awfully high. Heres why.6


Were drowning, right? Who DOESNT feel this way these days? See, the risk is that, if we dont find some tools that will help us deal with this tidal wave of change and complexity, well never break the surface again.\Now, weve always had change, but rate of change is more intense than ever.

-- legislative / regulatory changes. Makes SOX look like a walk in the park.-- demographic shifts. 4 generations in the workplace.-- that leads to all kinds of leadership shifts and succession issues.7

4x = 18907x = 1670Bill Sheridan, CAEThe Business Learning Institute

-- biggest of all, technology shifts. Moores Law, developed in 1965 by Gordon Moore, co-founder of Intel. processing speeds, or overall processing power, for computers doubles every 18 months or so.

-- Aspen Intitute rate of change: As it relates to science and technology, the rate of change in the next decade is likely to be 4 to 7 times faster than in the previous decade. If it is 4 times faster, it would be like planning for today in 1890. If it is 7 times faster, it would be like planning for today in 1670.

Fifteen years ago, how many of us could have wrapped our brains around concepts like Siri, or Google Glass, or driverless cars? Todays iPhones are as powerful as Apples top-of-the-line laptops were 10 years ago. The latest iPad is faster than the worlds most powerful supercomputer was in 1985. Thinking about stuff like that makes me dizzy, so Im pretty sure that whatever comes next will make my head explode.

It will also turn each of our jobs upside down. Need proof? Ask a journalist, or a recording industry executive, or whoevers in charge of the U.S. Postal Service. The day will come, I swear to God, when filing a tax return any tax return will be a completely automated process. What will happen to tax-pro CPAs when that day arrives?

If theyre smart, theyre not waiting to find out. Theyre figuring out right now how to add new value to their clients lives once their traditional services have become outdated and automated. If youre not doing that future-focused work, you're putting yourself at risk of irrelevancy at best and extinction at worst.

Its no wonder we feel overloaded.

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Top five issues impacting CPAs

Keeping upInformation overloadDoing more with lessBeing proactive vs. reactiveComplexityBill Sheridan, CAEThe Business Learning Institute

And CPAs? Whats keeping them up at night?

These arent your typical technical issues. This is new stuff, and dealing with it requires a new set of tools and competencies.9

What?Bill Sheridan, CAEThe Business Learning Institute

So what do we do about all of this stuff?

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L>CBill Sheridan, CAEThe Business Learning Institute

Well, in the simplest terms, as Tom Hood says, we must keep our L greater than C. We must out-learn the pace of change.

But again, easier said that done. What do we need in order to do that?

Two things, in my mind.11

Thinking about information overload isnt accurately describing the problem. Thinking about filter failure is.

Clay ShirkyNew York University new media professor, writer, and consultant


The first is better information.

Consider this, from Google CEO Eric Schmidt:

Between the dawn of civilization through 2003, there were just five exabytes of information created. That much information is now created every two days, and the pace is increasing.

Not information overload, but filter failure.

So thats the first thing we need better information.12

The age of adaptationThe need to constantly adapt is the new reality for many workers.

Serial masteryThese workers are often left to figure out for themselves what new skills will make them more valuable, or just keep them from obsolescence.Bill Sheridan, CAEThe Business Learning Institute

The second thing we need is a mindset thats devoted to adaptation and anticipation.

Fast Company editor Robert Safian calls this era Generation Flux, and heres what he means. His words:

What defines GenFlux is a mind-set that embraces instability, that toleratesand even enjoysrecalibrating careers, business models, and assumptions. This is no simple task. The vast bulk of our institutionseducational, corporate, politicalare not built for flux. Few traditional career tactics train us for an era where the most important skill is the ability to acquire new skills.

And that means connecting ourselves to as many people and resources as possible, people and resources that add value to our lives and help us learn.13

Learn or die

Sixty-five percent of children in preschool today will work in jobs or industries that do not exist today.

Half of what we learn in the first year of college is obsolete by the time we graduate.

Source: MacArthur Foundation


So, why are we still talking about the importance of social media?

Seems like weve been having this conversation forever.

But heres why this is more important than ever.

This is according to the MacArthur Foundation Digital Media and Learning Competitions.

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Learning is what most adults will dofor a living in the 21st century.

-- S.J. PerelmanAmerican humorist


Its critically important. And its a vital part of this conversation about social media.15


Once youstop learning,you start dying.

Albert Einstein

Put another way:16


The meaningof life is to findyour gift. Thepurpose of lifeis to give it away.

Pablo Picasso

And remember that learning is a two-way street. This isnt just about what WE stand to learn. Its about what OTHER people can learn from us.

Learning is as much about making OTHER people smarter as it is about making OURSELVES smarter.17

Meet Seth.Bill Sheridan, CAEThe Business Learning Institute

And in fact, thats a great seque to the second part this discussion how to build your personal brand through social media.

Because the BEST way to do that the absolutely BEST way is to make other people smarter.

I dont know how many of you have heard of Seth Godin, but hes a really smart guy who has done an INCREDIBLE amount of deep thinking in this area.

A few years ago, he wrote a book called Linchpin. Subtitled Are You Indispensable? And in this book, Seth talks about something called the circles of gift giving.

See, Seth believes in giving stuff away giving away our knowledge, giving away resources, adding value to other peoples lives and not expecting anything in return. THATS how we become indispensable.

According to Seth, there are three circles of gift-giving.18

Meet Seth.Bill Sheridan, CAEThe Business Learning Institute

The first is a circle of true gifts stuff we willingly share with others, most often friends, family and co-workers. Someone asks for advice for a good hotel in the area. You give that knowledge away. You invite a friend over and give her a meal. You dont charge her for it.

The second is a circle of commerce people in this circle are willing to pay you for what you produce your consulting services, your financial advice, the book you wrote, the widget you made.

Those two circles have been with us for ever.

Now, the Internet has given us a third circle, and its kind of a combination of the first two. It consists of people who might one day pay you for what you do but to get to that point they first need to know you and trust you and be comfortable interacting with you. These are our social networks, the folks we follow online.

Heres a quote:

Generosity generates income.19


Thats an entirely new business model, and its one that very few people are following just yet.

And how do I know that? It all goes back to that tired old question: Wheres the ROI? How come were not making any money on this stuff? This is worthless Ive been on Twitter for a week and nobodys bought anything yet.

Social media is that third circle. Were not supposed to sell anything there.

Thats where we give away stuff. Share what we know. Add value to peoples lives. Build trust, and credibility, and relationships.

Then, maybe we start to move some folks over to the second circle, which is where commerce takes place.

But ROI? There is no ROI in social media. Not if you do it right.

The most important thing we can do to build our brand today is to give away the stuff we know, to make other people smarter.20


1. Whats my why?

For openers, lets channel Simon Sinek, always start with why why are you doing this?21


People dont buy what you. They buy why you do it.

-- Simon Sinek

So, What do you stand for?

-- Whats your niche?-- What are you passionate about?-- Whats the power of YOU?

Once you figure those things out, your strategy in the social space starts to become crystal clear.

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2. Who owns me?

And that brings us to the second question: Who owns me?

Your answer had better be, I do.23


Facebook.com/BillSheridan

Twitter.com/BillSheridan

LinkedIn.com/in/BillDSheridan

Gplus.to/BillSheridan

YouTube.com/BillSheridan

SlideShare.net/BillSheridan

Flickr.com/photos/Sheridan

Do you own your name across all platforms? BillSheridan.com? Facebook.com/BillSheridan? Twitter.com/BillSheridan? If not, can you get them for a reasonable price?

If you dont own your own name, then youre leaving your online reputation in the hands of someone who does. Sam Richter, Social Media Today

My problem is with the current linebackers coach of the Detroit Lions, whose name also happens to be Bill Sheridan. He has destroyed my Google rankings. But Im doing the best I can.

The point is, be consistent or as consistent as possible. Itll make it much easier for people to find you across platforms, and its much more search-engine friendly.24


3. Where do I start?

Question No. 3 is, Where do I start? And that is usually, means, whom do I follow?

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Step 2: Follow some folks. Here are just a few suggestions to get you started.

Then and this is the important part look at who THEYRE following. Chances are, if you like what they folks are doing socially, youre going to like what their followers are doing, too.

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4. What do I say?

And that brings us to Question No. 4 What do I say?

The answer, at least initially, is Nothing.

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Think of social media as a big cocktail party. And what do you do when you first arrive at a cocktail party? You dont pull out a megaphone and start announcing to the world how great you are, do you?

No, you go to the bar, grab a drink, then sidle up to a group of folks and listen to what theyre saying. If you like what youre hearing, you join the conversation and share a few thoughts of your own. If you dont, you head over to the next group and listen to what THEYRE saying.

And remember: The keyword in the phrase social media is social. You will get nothing in return if you dont first GIVE something to your followers. Give value first content, advice, information, answers, feedback. Be social. Give more than you get. That builds trust, and THAT will convince folks that you know what youre talking about. That builds your personal brand.

People who do nothing but promote themselves never build that trust.

Another great way of building your brand is to leverage the wisdom of crowds through social Q&As.

-- LinkedIn Answers-- Quora-- Yahoo Answers

All of these sites reward knowledgeable users who promote their expertise by answers others questions.

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5. What should I share?

Now, to question 5: What should I share?

The answer, of course, is, Anything of value.

Filter, filter, filter

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Whats the best time to post?Source: Fast CompanySlideshare.net/BillSheridan

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Dont under-post.Dont automate too much.Dont put all of your eggs in one basket.Dont be impatient.Dont forget the visuals.And a few thingsNOT to do

From Entrepreneur.com

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Questions?


A great way of building up your list of followers quickly is by power following. Find an influencer in your area of expertise, and look at who he or she is following.

Lets take Tom Hood as an example:33

Download these slides:

Slideshare.net/BillSheridan

Follow me:MACPAs blog: CPASuccess.comFacebook.com/BillSheridanLinkedIn.com/in/BillDSheridanTwitter.com/BillSheridanYouTube.com/BillSheridanSlideShare.net/BillSheridanFlickr.com/photos/SheridanTweet it!Bill Sheridan, CAEThe Business Learning Institute

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Tweet It: An Overview of How Social Media Can Enhance Your Business?

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Transcript of Tweet It: An Overview of How Social Media Can Enhance Your Business?