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Richard Millington on Twitter: "If you want to sustain high-quality in a community, you need to decide which of the four sandpits you're going to play in. It's ultimately about restrictions on who/what members can post and what members can see. Choose car
If you want to sustain high-quality in a community, you need to decide which of the four sandpits you're going to play in.

It's ultimately about restrictions on who/what members can post and what members can see.

Choose carefully.
community  SCALE  design  strategy  online 
5 hours ago by edsonm
A Hard Dose Of Data-Driven Reality About Online Communities | FeverBee
#social #platforms
““Communications tools don’t get socially interesting until they get technologically boring.”” Clay Shirky, as quoted in
A Hard Dose Of Data-Driven Reality About Online Communities
November 5, 2013
By Richard Millington
https://communityroundtable.com/strategy/are-online-communities-still-important/
Full quote is,
“Second, communities are boring. This is a good thing. As Clay Shirkey wrote; “Communications tools don't get socially interesting until they get technologically boring" We're over the hype plateau now. Communities are an available tool to achieve specific, measurable, goals. Organizations will need community professionals to use this tool.”
//
Contrary to common perception, the popularity of online communities has declined.

It peaked in April 2004. [There’s a graph]

This is partially attributable to the rise of social media.

As social media grew, the popularity of online communities dropped…at least a little. Companies that might've created communities are, for better or worse, now building Facebook and Twitter accounts.

Forums have declined too.
social  strategy  community 
6 hours ago by edsonm
How McDonald's Works | HowStuffWorks
That all changed in 1956 when he hired Sonneborn, who convinced him that the real money was in real estate. Sonneborn's idea was to have the McDonald's company lease a plot of land and the building for each restaurant. The company would then sublease to the franchisee who would run the restaurant. Sonneborn further developed the plan to eventually take out mortgages to own both the building and the land. [source: Love]. Kroc soon established the Franchise Realty Corp. to find willing landowners.
finance  money  strategy  business  history  capitalism 
8 hours ago by kmt
Why most businesses fail… What I’m about to... - Charles Kirkland
"Why most businesses fail…

What I’m about to share with you can only be learned from experience.

Most businesses fail to get traction for 3 simple reasons.

1. Market Domination

Failing to narrow down the market enough. Make your market too broad and you have a watered-down message that falls on deaf ears.

Think about this example.

You have been rear-ended by a driverless car.

Who do you call?

A lawyer who takes any case on the planet
Ghostbusters
A lawyer who only works with car accidents
A lawyer who only works with driverless car accidents

When you have the entire world at your fingertips, you get to work with people who hyper-specialize.

Your message needs to let the world know who you work with and who you don’t.

Draw a line in the sand and claim your specialty.

2. Pricing

Failing to charge enough.

This goes back to the 1st problem. When you’re a generalist expect people to price shop like they would for a gallon of 2% milk.

If you’re on a call with a lead and they tell you that other people do what you do and can do it cheaper, you're a commodity.

When you’re a commodity, you really can’t charge that much because you’re not offering anything special.

If I want to hire a PPC, SEO or SEM agency, they are all a dime a dozen.

But what about the digital marketing agency that only works with lawyers in cities with over 100K people where they guarantee you will be the #1 attorney in 6 months?

Now that’s an agency that I’ll hire in a heartbeat, and you can bet they don’t come cheap. That engagement starts at $10K per month plus.

3. Systems

Failing to have systems in place. I work with businesses with 7 figure monthly marketing budgets, others who are burning VC cash like it’s their job, and startups who are trying to find product-market fit.

I hate to say this, but without repeatable systems, in place, you’ll end up with zero gains regardless of the money you throw into advertisements.

Trying to scale up a business without the right processes will often accelerate your failure.

Yes, you will have growing pains, and that's to be expected. Having all the knowledge in your head is not how you grow. You have to create sales, marketing, and fulfillment process that is 100% repeatable.

In 2015 I worked with a startup company that created mobile apps for restaurants.

They had a massive success on a local level. Things worked great when the founder was on the ground making connections.

But without systems in place, each rep tried to do sales their own way. The founder was spending all his time trying to put out fires his out-of-town sales reps created.

Here is a bonus.

Cash flow is king. I can’t count the times I’ve seen businesses grow too fast and become victims of their own success.

Being able to forecast and hire for the right job at the right time is critical.

Recently I was talking to a founder who over-hired in the sales department.

He was expecting that the sales reps would bring in their own Rolodex of past clients.

Because of this, he neglected to hire for marketing. With 4 sales reps drawing a base salary and minimal sales, his cash flow quickly dried up. He ended up letting them go after some long nights beating himself up over the situation.

Always budget that every project will cost at least 3X what was initially projected.

When you live by these business rules you quickly discover you can create a backlog of clients, charge 10X your current rate and deal with less stress every day."
business  strategy  frameworks-for-business 
yesterday by daguti
Bill Belichick Will Need a Master-Class Coaching Performance to Beat KC - The Ringer
One of the most fun subplots of every postseason is seeing how Belichick navigates the Patriots’ path to the Super Bowl, which opposing stars he tries to take away, and which trends he wants to jump on. Like the league as a whole, the Patriots reverse their norms routinely.
football  strategy 
2 days ago by sandykoe
Why Nancy Pelosi Will Win - The Atlantic
She beat George W. Bush on Social Security privatization, and she’ll beat Trump on the wall.
strategy  politics 
2 days ago by sandykoe
McKinsey Connected Homes
The vision of the connected home is finally beginning to come together. Explore McKinsey's insights to the connected home customer segments, emerging opportunities, and key issues to tackle in order to unlock growth.
report  strategy  iot 
2 days ago by iZac

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