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Does your business suffer from multiple personalities?

Branding AddingTheingToYourBrand 300x268 Does your business suffer from multiple personalities?By Leo Valiquette

There’s a fitness club in my neck of the woods that broke away from its corporate mothership and rebranded itself with a new name a couple of years ago. I shake my head every time I visit the place and still see the mothership’s name on the company vehicles and on the guest wi-fi account.

It’s all the more painful because it’s a former client I worked with to develop new brand messaging and promotional copy.

A little while ago, Francis blogged about the need for organizations to look past the minutiae and focus on what he termed “capital-M marketing.” It’s about looking at the marketplace and identifying problems that can be solved with a product or service your company is capable of bringing to market. This is the level at which discussions about marketing strategy should be focused, rather than on what shade of blue is best suited for the company logo.

True enough. But neither should the pedestrian aspects of marketing communications be left to languish.

In my various wordsmith-for-hire endeavours, I’ve sat down with at a least a hundred different SMEs that needed help to define their messages for some form of content marketing or paid advertorial opportunity. I typically prepare for such meetings by taking a look at the client’s website and slapping the relevant hunks of the ubiquitous “About Us” page into a Word doc.

But when I sit down with the client and say “I was just looking at your website …” they invariably respond with “oh, don’t pay any attention to that. It’s outdated and we’re redoing it.”

Yeah, right.

I don’t doubt that it’s outdated. But I do doubt it’s an issue that will be rectified anytime soon. It’s one of those things too often left on the back burner. This is a particularly common malaise among smaller businesses that don’t have a fully-baked marcom function in house with the writing chops that should be considered the price of admission to even have a shot at the job.

And for the smaller outfit, even the sole-proprietor consultant, letting these things languish, to a point, is seldom a crisis in the making. They do, after all, get neglected because there’s too much billable work coming in the door. And if current biz-dev efforts and word of mouth are keeping the invoices flowing, what’s to worry about, right?

But as an organization grows, as the need to power a big and robust lead pipeline becomes more acute, the more important it becomes to have a single, clear brand identity, backed up with a consistent messaging platform with which to hit the market. The more people you have in your organization the more important the need for rigorous and proactive management of all the collateral to ensure the same story is being told.

Anyone who is out there actively pitching your product. Anyone who is at a networking event or trade show passing out business cards and brochures. Anyone who is picking up the phone to route a call, troubleshoot a problem, or fulfill an order. Each and every one of these individuals, from the receptionist to the CEO, is a brand ambassador for your business. Regardless of their respective pay grades, each one has the same capacity to help or hinder the business.

They need to know your brand story. And your website, social media accounts, brochures, even voicemail, must convey the same story.

There are two aspects to this, which, as Francis has written about before, are too often confused, even by experienced marcom people – visual identity and brand.

Visual identity is most often what people recognize on sight – such as a logo or a letterhead. This is where, for example, you should ensure there are not three different generations of your logo still in circulation.

Brand is what people believe your brand represents, stands for or how it stands apart from its competitors. As Ram Shriram, an early investor in Google, once said, “Branding is what people think about you when you’re not there.” This comes back to the basic messaging contained in a sales pitch, a brochure or in your web copy, and the impression this collateral will leave in the marketplace.

All the elements of your visual identity and of your brand must be in accord.

This isn’t only important from a business development and customer engagement perspective. I was recently pitching a technology client to the editor of an influential industry pub. The pitch was how my client was supporting a new third-party operating system and how its work to date on that system made it a go-to resource for insight and perspective. This was all well and good, until that editor visited my client’s About Us page and found barely a mention of that third-party vendor among its competitors with whom my client had also worked.

For that particular editor, it was an issue of credibility.

And that’s what it’s all about: How credible, consistent and distinct do you appear in your marketplace?

Image: 3H Communications

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Making the business case, face to face

This is the 10th article in a continuing monthly series chronicling the growth path of Screach, a startup based in Newcastle upon Tyne in England’s North East. Screach is an interactive digital media platform that allows users to create real-time, two-way interactive experiences between a smart device (through the Screach app) and any content, on any screen or just within the mobile device itself. We invite your feedback.

FMA banner Screach 300x145 Making the business case, face to faceBy Leo Valiquette and John Hill

They say the world is more connected than it’s ever been. You can push software to a global audience with the tap of a key, and serve customers worldwide from a desk in your living room.

Of course, the trade-off is that it’s loud out there. You’re immediately competing with the world, and you’ve got to be disciplined, dedicated or clever to be heard. So how do you go about building a market in a new country when you haven’t got millions of dollars to throw at it?

Last month, Screach arranged a week-long trip to the U.S. The aim was to drum up interest for its plug-and-play box ScreachTV, which puts relevant, engaging, local and interactive content on bar and venue TVs when they’re not being used to show events like live sport.

Screach has already had some success in the U.K. with gaming machine firm Bob Rudd, and is well on its way to its first 100 locations. To make headway in the U.S. market, however, there was still no substitute for meeting face to face.

“You can do a lot on the phone or via Skype, but now and again it pays to go over and talk to someone face to face,” said Sam Morton, Screach’s chief partnership officer. “It shows you’re serious about working with them. In return, they know you’ve made a long journey and they appreciate that.”

Lay the groundwork

This isn’t Screach’s first visit to the U.S. It launched at DEMO in Palm Springs in 2011, took part in a trade mission to San Francisco with exporting support organisation U.K. Trade and Investment, and spoke to tech journalist Robert Scoble at Austin’s famous South By Southwest conference.

“It’s been obvious from the very start that this is a global product, and the U.S. is a natural place to go for technology start-ups,” said Sam. “We spent a lot of time trying to get our name out there and get some experience in working over in the U.S.”

The most important step Screach took was to set up a New York office 18 months ago, fronted by David Weinfeld. He is well respected in the digital signage industry and has helped to spread the word about Screach. The company’s projects in the U.S. since then have included a second-screen experience with NSCAA soccer, and a March Madness Pick ’EM experience in over 120 venues, where punters picked the winners of each tournament round. David has already managed to get a few ScreachTV boxes set up in New York.

“Obviously, it would have been more intimidating if I was trying to do it on my own, but David knows the city,” said Sam. “He can reach out to people, have initial conversations and then I’m essentially over there to meet people and talk about the deal.”

Focus, focus, focus

Screach was keen to meet certain people in the U.S. It wanted to talk to bar and restaurant chains, friendly independent venues, and potential distribution partners that could help roll out the ScreachTV box nationwide. As a result, David was making contact with people weeks before the trip, setting up meetings and arranging potential trials.

“It would be madness to go door-to-door with something like this,” said Sam. “You’ve got to be sure you’re meeting with decision makers. Don’t just fly there, say you’re going to speak to a few people and then leave.”

Sam and David met with potential partners in Manhattan, New Jersey and Minneapolis during the week. An independent bar in Manhattan agreed to trial the product, while another well-known chain is test-running boxes in some of its bars. Screach is also speaking to a distributor with a strong national supply network of bars and restaurants.

Sam stresses it’s important to know what you want to achieve, and be clear about that.

“If you walk into a bar and say ‘here’s a system’ and it looks cool, they might go ‘wow’. But then they might forget about you once you leave,” he said. “You have to tell them what you’re there to get.

“We were looking for partners, and were interested in letting people trial ScreachTV for a month or two. We’re looking to get volume, so we want to prove the product adds value and go from there. So we made that very clear to people from the outset, and they were more relaxed as they weren’t waiting for a big punch line.”

Personalise

Once you’ve identified the people you want to talk to, how do you make sure they know how you can help them?

ScreachTV solves a problem for a certain type of bar. These are venues with a number of screens to show live sporting events, but what do they put on them when there’s nothing on? ScreachTV provides content that customers can interact with using their smartphones, whether that’s playing quizzes, taking up special offers or posting messages.

As a result, in the run-up to the visit, Screach mocked-up “playlists” of content for their target bars and restaurants so owners and managers could see how a box might look in their venues.

“What people really liked was that we went to them with personalised content,”, said Sam. “We visited their websites, looked at their hashtags, and arrived with tailored elements such as branded adverts and Tweetwalls. We put something together so it was ready to plug in and go.”

Learn and adapt

A crucial part of the trip was to learn a little bit more about the U.S. market. ScreachTV already had some boxes live in the U.K., but would anything need to change in the U.S.?

“We wanted to establish where the U.K. and U.S. bar markets were similar, where they were different and how we might need to adapt the content to better suit the U.S. market,” Sam said.

“People were pretty open with feedback, and you adapt based on what you see. For example, some sports bars in the U.K. show around four games or so a week. In the U.S., there are some dedicated sports bars with 24/7 sport on hundreds of screens. I went to one with four American football matches live and three basketball games. Those places didn’t have the problem of screening relevant content, so we decided to go for different bars first, ones that weren’t showing all those games at once.”

But once you have identified and proven a market, the challenge still remains to ensure that you can provide the product in the numbers the customer wants, that it is at a price point they are willing to take, and that it will perform as advertised.

“Get the right meetings lined up, and make sure you’ve got the right resources to follow up,” said Sam. “If you tell people you’ll do something, make sure you deliver on it. Don’t go out there when you’re not ready to do business.”

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Startup Weekend coming to Ottawa

By Francis Moran

SWOttawa 300x72 Startup Weekend coming to OttawaOttawa is about to finally get its own edition of Startup Weekend, a global phenomenon that has seen more than 45,000 technical and business people come together in more than 200 separate events around the world to spend a full weekend building new businesses. The intensive 54-hour company-building competition will take place in the nation’s capital April 27 to 29 at Shopify’s headquarters at 126 York Street in the Byward Market.

Although The Ottawa Network had a similar event a couple of years ago, this will be the first time the city has welcomed the official Startup Weekend, an initiative of the Kauffman Foundation, the large American NGO that promotes entrepreneurship. The event kicks off on Friday evening with rapid-fire pitches from participants who would like their ideas to be the focus of company-building teams over the weekend. All participants vote on which ideas will be workshopped, and teams form organically around each idea. The teams work feverishly all weekend, breaking occasionally for presentations, sleep and coffee, and present their ideas late on Sunday afternoon. A panel of judges selects the winning team.

Organizer Cheryl Draper told me this morning that ticket sales are going extremely well. “We’ve had ticket sales open for only a few days so far and we have already sold about 50 percent of our tickets.” Additionally, organizers have recruited a solid group of mentors to help coach the teams, including Ottawa’s usual startup suspects Luc Levesque, Scott Annan and Harley Finkelstein.

Draper, who also organises Ottawa Startup Drinks, said it was time for Ottawa to have its own Startup Weekend experience. “We really needed an event like this in Ottawa,” she said.

The winning team will receive a mix of software and technology products and, hopefully, some cold hard cash. “We have just started reaching out to sponsors,” Draper said. “We’re hoping to have a good prize package, whether it’s cash, software or access to technology.”

You don’t have to be a geek to participant in Startup Weekend Ottawa. While developers and designers are two of the three categories of participants, the weekend also relies on non-technical people such as business, marketing and PR types. Early-bird registration at $75 runs until March 28, after which the price goes up to $99. The ticket covers the whole weekend, including food and drinks.

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‘My PR agency can’t write’

This is the next entry in our “Best of” series, in which we venture deep into the vault to replay blog opinion and insight that has withstood the test of time. Today’s post hails from October, 2008. We welcome your feedback.

Fotolia 27389812 XS 300x2001 My PR agency cant writeBy Francis Moran

“I’ve just come to expect that my (public relations) agency can’t write,” was the astonishing admission I heard a few weeks back from a vice president at one of Ottawa’s larger technology companies who called us to see if we’d be interested in participating in an agency review process.

(I’ve promised not to name him (or her) for reasons that will be obvious as you read the rest of this post.)

I could hardly believe my ears. But yes, he said, it had long been his experience that the PR practitioners he had been dealing with from a range of different agencies and across a number of companies just weren’t very good writers, and so it fell to him to write most of the materials used in his campaigns. One of the key reasons he was approaching inmedia, he told me, was our very strong reputation in the marketplace as superb writers, a reputation he said was confirmed when he read our blog and web site.

I chalked this one up to what I assumed was just an unfortunate experience on the part of one technology marketing executive until I relayed the story to a colleague last week, a CEO at another technology company here in Ottawa and an insightful marketer in his own right. I was again utterly gobsmacked when he said he didn’t view writing as a core requirement in the PR function, that the ability to pitch the story was far more important.

“And what do you do,” I asked him, “When the pitch is initially well received and the next words out of the reporter or editor’s mouth are, ‘Sounds good, send me something about it.’?”

Here’s the thing. To work at inmedia and, I believe, to be an effective media relations practitioner anywhere, you must be able to write at an expert level and you must be able to effectively pitch what you’ve written. There is no hierarchy between these two fundamental skills. Lack one, and you’re out of the game.

And here’s why.

To believe, as these two otherwise successful technology marketers clearly do, that writing is either not terribly important or that your PR function, whether internal or an agency, can be permitted to be lousy writers, is to completely beggar the entire communications process.

In the first instance, despite all the wonderful new communications tools at our disposal, most journalists still want to see something in cold, hard black and white, even if it is delivered electronically. And even if they don’t ask for it, it’s just gotta be in your best interests to give them well-written material so they have the complete story, with all the relevant facts and accurate spellings of company, product and people’s names to which they can refer. This is just so basic I’m staggered it needs stating.

Second, how in the heck does a PR practitioner demonstrate her or his understanding of the story without writing about it? Yes, a properly written document proves the communicator can — gasp! — communicate. That is, the words run together in some sort of comprehensible order, everything is spelled correctly and the commas and periods are in the right places. But it still won’t be any good unless the person writing it actually has a thorough grasp of the subject matter.

Effective writing is not a case of cutting and pasting bits and pieces from other documents to make a different document and it needs to be more than a merely technically accurate use of words, grammar and punctuation. Effective writing is the process of distilling what has been learned — from other documents, certainly, but also, and critically, from interviews with a range of subject-matter experts — into a new piece of work. It not only communicates the story to all who read it, it also demonstrates understanding.

Bottom line: If your agency can’t write about it well, they almost certainly can’t pitch it well. And even worse, they probably don’t even understand it well.

So, did we get the business? Well, that’s another story that I cover here: The Ottawa inferiority complex theorem strikes again.

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Making lemonade: Four big ideas

This is the next contribution to this blog by Associate Andrew Penny, an Ottawa-based business development and market strategist for B2B companies, and president of Kingsford Consulting Ltd. Andrew’s post is part of our continuing series about the ecosystem necessary to bring technology to market. We welcome your comments.

FM Series banner head 300x145 Making lemonade: Four big ideasBy Andrew Penny

Global warming, Greek debt crisis, Chinese labour issues, U.S. unemployment, Royal visits… life is tough and running a business with all this change and uncertainty is even tougher … or is it? I say when life gives you lemons, open a lemonade stand!

I regularly ask our clients from a wide variety of sectors how their businesses are going. With few exceptions, it appears to be business as usual. (One of our strategic marketing plan clients, selling software to the retail industry, is having one of their strongest months ever. Another has received an unsolicited acquisition offer – a good one!) Look around you, people are still putting gas in their cars (despite the cost), they are buying groceries, going to school, buying houses, making holiday plans, building bridges, sewers and railways and so on – all things that keep the economy working.

I read an interesting observation that postulated that the problem is a financial one and not an economic one. If we were facing 10 percent inflation, for example, we’d have an economic crisis – wages and incomes would be out of sync, people would stop buying and selling, and the economy would contract. Currently, this is not the case. Organizations that require new capital to operate have a financial problem which does not directly affect the whole economy; this is why your neighbours are still renting movies, paying their staff, buying snow blowers, and so on.

Many of our clients are SMEs, and most are planning for growth. So think of it this way – if the overall economy shrinks by five percent (which would really have the news media in a frenzy) and your projections for growth were 15 percent for next year, you may have to settle for only 10 percent growth. Large, mature-stage companies, however, are much more dependent on the overall economy for their performance, so a five-percent contraction in the economy will seriously dent their performance. In contrast, SMEs are by definition much more flexible.

As entrepreneurs we can redirect our efforts to wherever the opportunities lie. We can redefine our business model. We can create partnerships and alliances with a single phone call.

If your plans called for new capital, look for other ways to grow; if your market is shrinking, change sectors; if your market is asking for concessions, add costless value; if your market has no CapEx budget, rent it to them.

So here are four big ideas to help you hit your targets

Idea One: Rather than creating and supporting a large sales channel, consider licensing your know-how and let your new partner invest in manufacturing and commercialization. (A client has recently achieved a global presence in Wal-Mart, Canadian Tire, and other top tier retailers in just 12 months following this strategy). Learn more about IP strategy.

Idea Two: Think strategically. Which companies or sectors will be strong over the next six to 12 months? It’s a safe bet that companies involved in infrastructure building will be signing some interesting government contracts. If you are an infrastructure company, stay close to your government partners. If you sell (or could sell) to infrastructure enablers … well you get the idea. Rethink your customer engagement plan.

Idea Three: Add value as your customer defines it. How do they buy from you, what do they buy, where, how do they transport, use, recycle and so forth? Look for ways that you can add value to their experience at low or no cost to you. This extra value reduces your clients’ overall cost and makes it easier to buy from you. I’ll bet you’ll find at least one thing that you can do better – and possibly create a new industry paradigm that others may find hard to follow. Try the marketing scorecard.

Idea Four: Rent It. Would you rather have a sales contract or a recurring services contract? As a founder of Bell Mobility I had my first exposure to the magic of recurring revenue from locked in customers, and let’s just say it took a big spreadsheet to hold all the zeros. If you can turn your product into a service and charge based on the utility the customer obtains, you can avoid the capital budget issue and possibly provide a net savings to your client from day one. And it doesn’t mean you have to hold the asset, you can coordinate a lease for your clients on a surprising variety of items.

So squeeze your lemons and sell lots of lemonade!

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Do you have the sound bites to drive your business?

As part of our ongoing series examining the ecosystem necessary to bring technology to market, we asked Carleton University’s Tony Bailetti to share his thoughts on regional economic development and common pitfalls startup technology companies can avoid. This is the first of his commentaries and we welcome your feedback.

FM Series banner headART 1 300x145 Do you have the sound bites to drive your business?By Tony Bailetti

When bringing technology to market, a supplier typically produces a set of sound bites in order to feature and describe how its products and services benefit potential customers, partners and investors. A sound bite is a very short piece of information considered to be an important feature the supplier wishes current and potential stakeholders to remember. Sound bites also serve as points of emphasis in a supplier’s message to individuals and organizations in the business ecosystem in which the company operates.

The marketing collateral of 12 local technology companies distributed over the last four months was examined and it is evident that the quality of sound bites needs significant improvement. A technology company that is serious about commercializing its products and services needs to produce a set of high-quality sound bites.

To grow revenue, a company needs high-quality sound bites to effectively broadcast the value of its market offering and increase its business performance. Quality sound bites can effectively and consistently draw the attention of customers, partners and investors to that company’s profile. Moreover, the metrics used to track business performance can be linked to the sound bites.

The need for quality sound bites has increased at the same time that the size of the sound bites has decreased. Today’s potential customers, stakeholders and investors are accustomed to shorter and to-the-point information packages.

Poor-quality sound bites increase the costs of a company for at least three reasons:

First, potential customers, partners and investors won’t remember the company regardless of the time and money invested in producing the sound bites and the time spent operating in the business ecosystem.

Second, potential customers, partners and investors won’t take the company seriously in the unlikely event that they do remember the sound bites

Third, the morale and productivity of employees and their supporters may decrease due to a loss of faith in their company’s ability to grow.

What constitutes a high-quality set of sound bites?

The answer to the question above is advanced in the next paragraph. Hopefully it will trigger a thoughtful and lively debate. This is a debate we should welcome given that the opportunity to benefit from it is significant.

A high-quality set of sound bites highlights the few demonstrable points of difference for which

  • Customers are willing to pay
  • Partners and investors are willing to help grow revenue
  • Employees are passionate about delivering

What matters most when it comes to selecting a set of sound bites is the quality of the content that highlights a company’s market offering, points of difference and the passion employees demonstrate in delivering these.

High-quality sound bites do not highlight clichés, executives’ whims, claims that can’t be proven or a long list of benefits produced by company employees talking among themselves.

Producing quality sound bites is hard work.

Points of difference that resonate with customers, partners and investors

Quality sound bites require the company to identify the points of difference that best resonate with customers, partners and investors.

Points of difference must focus on the essential elements of a company’s offering that will deliver the greatest additional value to key stakeholders as they improve. The intent is to convince customers to purchase from your company and convince partners and investors to participate in helping your company grow.

Points of difference must be demonstrable and should be based on claims that can be supported by concrete evidence.

Points of difference are determined by engaging in conversations with customers, partners and investors. Quality sound bites do not highlight long lists of potential benefits to stakeholders or favourable differences vis-à-vis the alternatives. Most employees who are knowledgeable about their company’s technology can readily produce lists that identify the benefits that customers, partners and investors can expect to receive. A smaller number of these individuals can identify the elements that they believe makes the offering either superior or inferior to the alternatives. Neither approach is recommended.

Passion is essential in delivering points of difference

When bringing technology to market, passion for delivering on the points of difference matters much more than the language touting a company’s unique products, technologies and past achievements. To be an effective communication and business performance tool, all employees, not just the top management team, must deliver the sound bites with passion.

Passion is that intense emotion, compelling feeling or enthusiasm for doing something perceived to be important. If a company’s employees do not relate to the sound bites that describe the value the company delivers to its stakeholders, their use is pointless.

A company’s employees must be passionate about their delivery on the essential points of difference at every level of contact with customers, partners and investors.

Employees of successful technology companies are passionate about ensuring the highest level of satisfaction among the company’s stakeholders. Employees’ palpable passion for stakeholder satisfaction is a key factor to a company’s success.

Passionate employees are a company’s best assets. Without them all a company has to promote itself is the unsubstantiated and empty language contained in the marketing collateral

Produce at most three sound bites

Well-presented points of difference distinguish one company’s offering from all others so that customers and partners remember the essential info about its products and services. A company needs no more than three sound bites that highlight its offering’s points of difference. Each sound bite must also be concise and to the point and should signify something important to customers, partners and investors.

Tony Bailetti is the Director of Carleton University’s Technology Innovation Management program (www.carleton.ca/it). His research, teaching, and community contributions support innovation for the purpose of generating revenue for young technology companies and developing the regional economy. He has published in Research Policy, IEEE Transactions on Engineering Management, Journal of Product Innovation Management, and R&D Management.

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Questions about Quora’s usefulness for B2B companies

quora logo Questions about Quoras usefulness for B2B companiesBy Alexandra Reid

Quora’s rise to popularity is abuzz on Twitter, blogs and other media sites as a surge of people are trying out the social networking tool for the first time. Poking around the site myself this past week, my first impressions found it to be rather unintuitive. It seems that I am not alone in my opinion, as questions about how to use Quora and why it is important are being frequently asked, rather ironically, on the site itself. More importantly for my ongoing social media research for clients, I noticed that very little discussion has developed to provide insight as to why Quora is important for B2B companies and how it could be used to best effect.

First, what exactly is Quora?

Quora is “a continually improving collection of questions and answers created, edited, and organized by everyone who uses it. The most important thing is to have each question page become the best possible resource for someone who wants to know about the question.” Like Wikipedia, Quora is a collaborative effort, where users are meant to document the world around them. Over time, the database of knowledge should grow until almost everything that everyone wants to know is available in the system. Over the last couple of weeks, Quora’s traffic has doubled, likely making it the new “breakout site” of 2011.

Although Quora may seem a little bewildering at first glance, it becomes easier to find your way around once you figure out what it is you’re looking for. It is important to understand from the outset that the types of people and topics you follow will heavily influence your experience. “How do I get started using Quora,” you ask? Someone already asked on Quora and you can find the answer here.

After extensive research, I’m confident in saying that B2B companies should at least begin to familiarize themselves with Quora as it is likely the social networking site will become increasingly more important over the coming months. Here are some ways that Quora could benefit B2B social media engagement and further business development:

Establish thought-leadership within specific industries

Asking and answering important and timely questions about your industry shows other industry leaders, prospects and current clients that you keep yourself informed about market research and other key developments within your marketplace. The beauty of Quora is that preserves its participants’ thought-leadership, as it banks questions and answers forever, allowing individuals to search out information for years to come. Also, because attention to quality questions and answers is fundamental to the success of Quora, the Quora team ensures that you always sound professional by enforcing proper spelling, grammar, punctuation and style. People can also vote on your answers, which can elevate you to an “expert” status.

Connect and build relationships with industry experts, prospects and existing clients

If you’re going to be involved in social media, be present everywhere people could reasonably expect you to be. I mentioned previously that Quora is on the rise. There are already thousands of individuals to connect with from multiple industries participating on the site. Like any social networking site, engagement with fellow industry experts, prospects and existing clients offers many rewards, including brand awareness, loyalty, promotion and business opportunities. Demonstrating thought leadership on Quora can also help you expand and develop your community based on the exchange of helpful and insightful professional information, which consequently encourages others to turn to you for professional assistance.

Also, while individuals interested in your business may not expect you to be on Quora immediately, as they may Twitter, Facebook or LinkedIn, it is still important for you to keep it on your radar. Keep in mind that early adopters of new media tools can get an early bird advantage over those who join late. For example, if you’re quick to answer other people’s questions related to your industry, you have a good chance of earning loyal followers, an opportunity that other businesses may miss, as a result. Also, if Quora becomes a sensation over the next few months, you will already have a firm enough grasp on the tool to be able to participate competently right away.

Become a useful source or resource for journalists and other content writers

Journalism.co.uk called Quora a “tech journalist’s utopia” as its current user base includes a number of Silicon Valley and other Internet start-up executives participating in discussions and willingly answering questions. This niche group of experts is expected to expand in the coming months, as the site becomes more popular and attracts a more diverse group of readers. By participating on Quora, you can become a knowledgeable spokesperson for your industry and attract attention from journalists who cover your marketplace.

SEO

More often than not, people turn to Google to find answers to their questions. Quora has a solid SEO platform that ensures questions and answers from their site surface on search engines. By being a regular contributor to Quora, you have a better chance of surfacing in a search of questions related to your industry.

Market research and competitive analysis

Following influential and experienced individuals in your industry can make your Quora experience very educational. Quora allows you to ask business-related questions and find questions and answers from others that you may have never even considered. ReadWriteWeb says, “Checking up on what kinds of questions a competitor is following, or better, the answers they’re giving, can tip you off to what they might have in the pipeline.”

Get your urgent questions answered by experts

The purpose of Quora is to ask questions to which you require immediate answers. There are currently thousands of experts from multiple fields participating on Quora. Use their expertise to ask hard and specific questions. If you run into an issue in your day-to-day, especially if it’s technology-related, chances are someone else has experienced the same thing at one point or another. Post it on Quora to receive fast answers and connect with others who share your experiences.

I posed the question, “how is Quora beneficial to B2B companies,” to the site’s numerous experts to try and find some additional answers. When it receives answers, I’ll be sure to share them through my Twitter and LinkedIn accounts.

Anyone else trying out Quora for the first time? What are your first impressions? Did I miss any points? Do you have any additional resources that would help?

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Neptec: A pony that knew better than to rely on one trick

teb 300x91 Neptec: A pony that knew better than to rely on one trick

By Leo Valiquette

When Iain Christie, president of Neptec Design Group, took the stage this morning as the keynote speaker at OCRI’s first Technology Executive Breakfast of the fall season, he made one thing clear: he wouldn’t presume to tell his audience how they should run their business, since it was challenge enough to run his own.

Nonetheless, as he shared anecdotes of the lessons learned over Neptec’s almost 20-year evolution from a one-trick pony whose continuance relied on the “stroke of a bureaucratic pen” to a more diversified technology play, it was clear that certain fundamentals crucial to business success apply no matter the industry; they simply manifest in different ways.

Neptec’s big break came in the early 1990s, when it developed an Advanced Space Vision System for NASA to help astronauts assemble the International Space Station. While this crucial contract for the company generated spinoff business, by the start of this decade, Neptec was challenged by the simple fact that it was still living from program to program with one dominant customer — obviously not the best way to build a sustainable company over the long term.

And while additional opportunities have come from NASA, not the least of which is the 3D Laser Camera System now used to inspect the Space Shuttle exterior for damage after launch, Neptec has diversified its expertise in intelligent three-dimensional data collection and processing for multiple applications in the defence and industrial automation markets.

Iain shared the following lessons that have come of the company’s growing pains and emphasized that it is still far better to learn from one’s own experience than from the mistakes of others:

1. Always have a backup plan. Before you jump in and claim to have the solution to a problem, make certain you have a complete understanding of its dimensions and its constraints. ”You’ll get a lot further ahead.”

2. Never let them see you sweat. “Amateurs talk about technology, professionals talk about process.” Technology is great, but if there is not a proven process to govern implementation and operation, and effectively troubleshoot any problems, the best technology in the world will not yield the desired result. You must be prepared for the unexpected.

3. The Perfect is the enemy of The Good Enough. In one instance with NASA, Neptec went from concept to a fully realized system that flew in space in only 16 months. The key from the outset was having a clear and unambiguous objective statement of what they had to achieve. The team had to refrain from the temptation to exhaust time and resources on making something that was already good enough even better. It was an exercise in distinguishing the “truly important” from the “merely urgent.”

4. Stick to your strengths. When the Neptec team embarked on its campaign to diversify its customer base, the key was not to chase after what the market wanted, but to instead remain true to its core strengths and focus on opportunities where it could deliver value to the customer. In other words, find problems they could solve with a solution the target market was willing to buy and could afford, rather than attempting to muscle in where larger and better-funded competitors were already well-established.

5. What gets measured gets done. Case in point: Iain was swimming against the current with his management team trying to argue in favour of expanding the workforce. The central issue was Neptec’s utilization rate: how much of each worker’s time was actually being applied to billable client work. Iain put the spotlight on it, but his managers on their own initiative tackled it and staff efficiency shot up in a matter of weeks. Which led to his next point: as the leader, his job is to ensure the management team is focused on addressing the right problem, set goals, then get out of the way and let them figure out the solution. He should not get bogged down in the day-to-day operational stuff, but . . .

6. Stay focused on what’s next. Change isn’t always desirable, but it is inevitable. While it is easy to fall into the trap of never looking past the end of the current project, or the current fiscal quarter, the person at the top must have their attention focused on what’s just over the horizon to maintain growth and profitability.

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A tech company built to last in small town Ontario

teb 300x91 A tech company built to last in small town Ontario

By Leo Valiquette

Ross Video is not as well known as some companies in the Ottawa area. And yet, it employs 300 staff between its operations in Ottawa and the small community of Iroquois about an hour south, and has enjoyed average annual revenue growth of 20 per cent since 1991.

Ross Video makes a variety of video-production equipment used for broadcast and live events.  Its products ship all over the world, with customers that range from major television networks, Scotiabank Place and the Vatican to the Red Hot Chili Peppers. The company’s success has earned it some kudos. It won an OCRI Technology Company of the Year award in 2005, a Gemini Award for Technology in 2007 and an OCRI Product of the Year award in 2008. Still, it doesn’t command the immediate name recognition as other names in the Ottawa tech sector. Perhaps that’s due in part to the fact that the Ross Video name lacks the infamy associated with some of those other names.

As an Iroquois boy myself, I couldn’t help but chuckle at the irony as second-generation chairman and CEO David Ross talked about the company’s obvious staying power at this morning’s OCRI Technology Executive Breakfast.

For anyone who knows it, Iroquois is a quiet village on the shores of the St. Lawrence River with fewer than 1,500 residents. It greatest claim to fame was its wholesale relocation to higher ground during the construction of the St. Lawrence Seaway in the 1950s. This humble setting is the hometown of a success story that has more than a few lessons to teach to the Ottawa technology community about what it takes to build a global player.

The company was founded by David’s father, John, in 1974 with seed money earned from the sale of his prized Second World War twin-seat training airplane and a bank loan for a grand total of $8,000.

John Ross founded the company with two guiding objectives:

  • Have a family-owned business
  • Maintain control of his own destiny indefinitely

The emphasis has always been on building a company to last, rather than one to sell, which, as David stressed, is a tougher road that requires a far different mindset. It’s not enough to think a fiscal quarter or a year ahead, but a decade ahead. It is this emphasis on private control without diluting ownership through external investment, and the long-term business strategy this demanded, that has helped build a company well prepared for any economic downturn.

Among Dave’s best practices to build an enduring company:

  • For its first 18 years, Ross Video sold only video-production switches and was hammered by recessions in the ’80s and ’90s. This taught the value of diversifying the product line to help make the company more resilient to downturns. One way was to develop more economical and stripped-down versions of its products. The Lamborghini model may sell well when times are good, but the Kia version will still sell well when times are tougher.
  • But . . . don’t wait until a recession has struck to design the Kia model. When times are good, re-invest profits in research and product development. About two-thirds of Ross Video’s product line has been introduced within the past three years.
  • Make sure your products touch on as many edges as possible with common markets, customers, materials, manufacturing processes and so forth. This drives a lean and efficient operation.
  • Diversify the customer base, both by market and geography.
  • Don’t sit on a pile of cash. Again, invest in new product development and diversification. “If the downturn is long term, the cash will eventually evaporate and only postpone layoffs.”
  • Spread your technology bets. For example, don’t bet the company on some new emerging technology at the expense of older legacy products that still have a solid market. Again, diversify.
  • Partner. Partner on marketing, sales channels, product development, manufacturing — whatever it is where your company is strong and another is not and vice versa. Ross Video has built a partner channel with more than 20 other smaller companies in its space that, for the most part, are in some fashion a competitor. And yet, these partnerships are beneficial on both ends.
  • Consider carefully where there is the most benefit from outsourcing a process versus keeping it in house. Ross Video still prefers to keep its manufacturing inside the company and has taken advantage of new technologies to improve the cost efficiency of these operations.
  • Take advantage of government funding, such as through IRAP or the SR&ED program.
  • Customer service is critical, especially if you are second or third in your market. “People buy from people they like.”
  • By the same token, “People work for people they like.” Treat staff with respect, invest in them and have regular celebratory events.
  • Manage growth. Don’t be greedy and look to grow too fast. Ross Video has walked away from more opportunities than it has pursued.

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Inside Sir Terry’s start-up engine

teb 300x91 Inside Sir Terrys start up engine

By Leo Valiquette

“Venture capital is dead. It’s gone.”

Sir Terry Matthews didn’t mince words Thursday morning as the keynote speaker at OCRI’s Technology Executive Breakfast. Not that he ever does. And while some might argue that statement about the status of Canada’s venture capital industry, or at least its level of activity in the nation’s capital, may be a bit premature, that’s not the point.

The point is, who cares?

Matthews and partner Michael Cowpland began the first incarnation of Mitel in 1972 with persistence, sweat and a $4,000 bank loan. That was enough to get their first product to market in nine months. This was followed by Mitel’s breakthrough product: a PBX phone system with a software switch. Mitel beat out about 40 larger competitors to win a watershed contract with AT&T, the first time, Matthews said, that the telecommunications giant contracted out. That deal, and a $250,000 grant through Canada’s IRAP program, took Mitel from zero to a 20-per-cent global market share in five years and made millionaires out of penny investors.

And while sheer persistence and hard work were part of the secret sauce for Mitel’s success, and for every success Matthews has had since then as the man behind the creation of more than 80 high-tech ventures, he cited an even more important ingredient: the core competency of partnerships.

Partnerships build technology clusters. Partnerships allow a company to capitalize on another’s strengths without having to carry the overhead of developing a  particular area of expertise in house. Partnerships take advantage of another’s time and money invested in R&D to compliment your own.

Matthews holds Nortel’s utter aversion to partnerships to blame in no small degree for the company’s misfortunes.

And while there undoubtedly are challenges in the marketplace at present, Matthews insisted there is a resurgence at hand as ambitious and nimble entrepreneurs of the next generation make their mark. They just need a commitment of time and mentorship from those with experience and money to invest. Venture capital is irrelevant. Time is what’s important.

Matthews’ approach is to find the key contact in a post-secondary institution passionate about commercializing ideas into start-up companies to help him cherry pick the cream of the crop from among new grads. He wants to work with the handful who have the drive, ambition and adaptability critical to surviving and thriving in tough times. He puts these teams together, puts his resources behind them, and sets out to identify and develop a viable product and market niche. By engaging with the market, he will guide this team through the process of honing, refining and focusing the idea until there is a viable business ready to be formally launched.

In return for this intensive mentoring and a high-pressure work schedule that pays little attention to weekends and holidays, each team member is paid the lofty salary of $25,000. However, what they should be paid but are not is parlayed into ownership stakes in the new company.

Matthews believes there is no more effective way to quickly bring a product to market. And being first to market is the only way for North America and Europe to compete in a global economy that is now flat with few if any true trade barriers. With Asia pumping out engineering talent that works for a 10th of what ours does, trying to compete on cost is a death sentence.

So the next time you hear someone pining for the return of the good ol’ days of the telecom boom, or whining about the demise of the venture-capital industry, do as Matthews does and take a chapter from Darwin: it is not the strongest or the most intelligent that survive, but the ones most capable of adapting.

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