At a breakfast meeting today, I listened to a presentation about Social Media. Given that I am blogging, and you are reading this, the chances are high that we both ought to know all this stuff, but it made good enough sense to me to want to repeat it on here:

• Your online network is not the same as your personal address book.
• Don’t add technology to the way you do things, change the way you do things when you know what the technology can do.
• Social Media is about sharing; it won’t work if you are selfish.
• Accept the fact that there are those who already know their way around Social Media (Digital Natives), if you are new on the scene you are a Digital Immigrant, and it is incumbent on you to learn the language and customs.
• That said, it is up to you whether you abide by the established language and customs.
• The 5 steps involved: Arrive, Listen, Ask, Provide, Advise. In that order!

Blogging as a way of communicating is being debated. Is it a good thing, is it just plain self-indulgent? Is it right to give the general public the ability to speak, well, so publically? http://journalismleadersforum.blogspot.com/2009/05/12th-forum-itv-news-chief-times-web.html

As with all forms of media, from the first printing press to twitter, there are those who just don’t get it, and those who do. There are those who use it well, and those who don’t.

Blogging is a relatively new medium that might yet have its place in history, but that place has to be fought for and proven. Twas ever thus.

I believe it can be a force for good, and Jo Geary’s eloquent support is key to its survival.
http://www.joannageary.com/2009/05/13/qit8-im-sick-and-tired-of-this-infernal-blog-debate/

I gave a presentation to a business-networking group this week on the subject of Social Media and Business.

Realising the audience was at best sceptical (with a couple of exceptions!), and at worst cynical, I used the following images.

• Plain website = shop window, hopefully directing you to the door in.
• Blogging on your website = shop front glass now removed, allowing you to talk to potential customers, and for them to talk back (for example by leaving comments).
• Social Media (such as Twitter, Facebook, and LinkedIn) = you have left your shop and are walking about sharing your ideas, and encouraging others to talk about them as well (not always with you present).

It is a bit blunt, but seemed to get the key messages over:

1. Social Media is not something that only happens online – it’s a mesh of physical meetings and online activities.
2. Ideas that are spread through groups of people are far more powerful than ideas delivered to individuals.
3. Real engagement is when people do things for you that you didn’t ask them to.
4. Learn to lose some control – in return for greater reach.

With thanks to Steve Bridger (http://www.stevebridger.com/) for his insights…

I have been wondering what I could “give away” to give you an idea of the kind of support I give to businesses.

The first thing that occurred to me was a simple excel spreadsheet that shows how the P&L links to the Balance Sheet, which links to the Cashflow, which links to the P&L. You get the idea – its a neat pro-forma.

Then there is my list of the various kinds of accountants that businesses use – there are more than you might immediately think. This is helpful because you need someone to look after all aspects of your business’s accounts and it’s easy to overlook something…

Then I have a list of accounting software packages I know, either through using them, or reviewing them, or simply on recommendation – handy when discussing potential changes.

I have a great contacts database, but that’s worth a little too much to just give away…

I keep wondering about a FAQ page for my website. Is there an accounts question you always wanted to know the answer to?

So at the moment I haven’t got anything to give away. Should I have something? Is what I do too intangible? Does a freebie make a website more attractive? What would you like?

I have been pondering a number of issues over the Christmas period to do with the power of positive thought. As I was starting to compose my own blog, I was pointed towards a great article by Jon Cooper (founder of JupiterDawn.com), published in the Birmingham Post on 1st January 2009. Serendipity strikes again…

Jon writes:
I’ve been isolating myself from pessimists for as long as I can remember. As soon as I feel a negative “vibe” from someone, I always make a mental note to be in a different room next time they’re around.
That particular skill is one I’m calling on more and more these days, as finding people without the doom-bug can be quite tough.
One thing which hasn’t changed with the economic climate is pretty much a fundamental law of the universe. Whether or not you believe some of the more spiritual stuff preached by Dale Carnegie, or in recent publications such as “The Secret”, it will always be an irrefutable fact that you get back what you put out.
If you think negatively, you will get negative results.
Even more obviously, if you say and do negative things at work, those around you will mirror those words and actions, producing a spiral of bad outcomes for your business.
The fact is, thriving in 2009 is far from impossible; here’s my 3-point plan to ensure that you keep your plans on track when others are falling off the rails.
1 – Review which of your goods or services are selling best, and focus on making those even more attractive.
Pricing, features and delivery can usually be tweaked if you look closely enough.
Conversely, consider dropping whatever isn’t selling well or making you a profit.
2 – Use PR to get your message to the market cheaply, and ahead of the competition.
Standing out from the crowd as a fashionable, desirable business can cost less than you imagine.
Newspapers, TV and BBC Radio offer great opportunities for entrepreneurs to broadcast interesting, recession-busting stories.
3 – Banish negativity from your business. If suppliers are talking doom and gloom, agree with them and get better prices and longer payment terms.
If customers are whining, find out what it would take to make them happy again.
If staff or colleagues are getting you down, re-arrange your office so you don’t have to listen!
In summary, identify the key success factors which made your business great in the past, promote them and focus on them, whilst eliminating waste and negativity.
I know 2009 is going to present some brilliant opportunities; make sure you are set up to grab them with both hands!

Talked to a friend this morning about their work, and in particular about how much “Pink Stuff” she had to deal with.

“What is Pink Stuff? I asked. Pink Stuff is all the paperwork, correspondence and other stuff that clogs up your day, preventing you from focussing on whats really matters. Pink Stuff might be administrative or financial tasks, reading general information, or just junk mail, but it demands that you deal with it.

How much time though? Do you ever sit back and wonder where the morning has gone? Maybe you are dealing with more Pink Stuff than you think…

If you are spending too much on the Pink Stuff, maybe you need someone to help look after it, so you can focus on the important stuff.

Two contrasting experiences yesterday.

The first was a conversation with an ex-colleague, who told me with glee how she had just bought a house for £205k that only a few months ago was on the market at over £270k. With a little jiggling of her personal finances and a good mortgage broker she had clinched the deal. Knowing the area I think she has bought something between a bargain and a fair price (the property prices had been unreasonably high).

The second was while watching the news and being “told” how the public is increasingly reluctant to pay for large items, choosing to wait until the price falls further, creating deflation.

Of course, the trick is to spot the bottom of the curve. But how material is the potential saving between now and the bottom of the curve? Is the idea of a bargain always more attractive than the actual saving achieved?

Is there a cost for your time and profit/pleasure foregone you need to factor in while waiting for a deal?

After following this blog for many weeks, and appreciating how much I have learnt from it, I thought I’d share the link:
http://www.financeweek.co.uk/ceos-diary

It’s the story of a CEO facing the same day to day issues and dilemmas that every business manager has.

OK, you may have more or less zero’s on the end of your income and expenditure targets, but the honesty, relevance, and rawness of his story is just great.

It may help to read the blog from the start, so grab a cup of your favourite brew, and enjoy.

I gave two presentations today. The first was to a group of creative leaders, the second to the regional meeting of the Charity Finance Directors Group. Perhaps unsurprisingly I left the former meeting feeling more energised than the second…

As an ex-member of CFDG myself, a healthy dose of scepticism is to be expected while discussing charity’s reserves.

You just can’t help but be inspired while listening to leaders of organisations talking about their vision and goals in life, and appreciating that finance is a tool to help make their dreams happen.

The convenor of the training session (Helga Henry at Fierce Earth) is to be congratulated. They just need to get their website up and running!

Interesting article here:
http://www.irishmedicalnews.ie/index.php/component/content/article/1-news/440-health-charities-funding-concern

But it got me thinking about the term “recession proof”. I don’t think any organisation (with the possible exception of high street banks, given the government’s recent action) can ever be recession proof.

The best any business can hope to be is aware of the economic climate, and be able to adjust its business plan accordingly. Periods of growth demand a different strategy from a period of decline.

Are businesses out there struggling because they are unwilling to take the steps required to stay in good shape? No business has a “god-given right” to survive, not even a charity.