The conference business is essentially a triangle. One one point are speakers (or content). On another point are the audience. On the third point are sponsors. That’s the conference business in the simplest of nutshells. It’s also not far from how magazines run. It’s a very basic and simple business construct that you can look at and understand the frame.
A consultancy is essentially a solutions and services business. The way to win seems mostly related to how to build replicable menus of services that a sustainable client set needs executed repeatedly and profitably. Keep value high, keep costs reasonable, maintain excellent client relations, manage the margin, and you understand the basics of the business.
Blogging and media making have several ways to be considered. My blog is an informational blog, that hopefully equips several of you to do new things, or to think about your own efforts differently. The business shape of my blog is to make connections, build community, and translate some level of lead generation into business value for me. Thus, I don’t advertise a lot. I don’t push for pageviews. I don’t have all kinds of gimmicks to get you to click through more and more hoops. That’s what blogs that hope to be media properties do.
When thinking about social media tools and how you’re looking to implement them in organizations, be sure to understand the frame of what you’re doing. Are you helping a company onto Twitter to build lead generation? Are you implementing a Facebook fan page and a blog for lead generation? What are the parameters of what you’re doing? How do you align them with the business goals of the company? And how will you lay the simple framework so that you can then build and remove components and complexities as the project continues?
This seems simple, and yet, it’s part of what many of us forget to do. There are lots of reasons to get into using certain tools and services. Understanding the mindset behind where we’re headed is important, and aligning your efforts to a framework of thought is a strong way to improve your chances for success.
What do you think? Have you given your projects thought like this? How else would you advise people to improve their business thinking?
Photo credit, Jonathan Gill