With the rapid pace of change accelerating even faster for online businesses, the days of developing of creating and sticking to a business plan seem a bit far fetched. A little over a year ago, Facebook had just half of their current 500 million members and a similar comparison could be made for Twitter and even LinkedIn.
It’s not just social media that is changing the face of communication and business, the technology options themselves are helping spin the globe even faster. Amazon announced a couple months ago that they’re selling more e-books then similar paper versions. The popularity of the iPad, Kindle and smart phones has helped change the way consumers and businesses consume data.
Does all of this marketplace adjustment mean business planning and goal setting is no longer worthwhile? Of course not. However, it does place a premium on developing a business plan that not only takes into account potential industry variables, but plans for them as well.
Shel Israel’s excellent book Twitterville: How Businesses Can Thrive in the New Global Neighborhoods
- Get the product right and make users happy before you make money. As I’ve mentioned many times before it’s no longer about what’s it in for you. Your success comes directly from what you bring to the table in the first place and how valuable your content or service is to consumers.
- Every company has choose their focus between what it can do and what it should do. The marketplace can be noisy and distracting. Don’t let that push you off course. Chasing after what looks to be a golden opportunity is often similar to following a mirage in the desert. Even if you are looking at a tremendous opportunity, is this still part of your core strength? Don’t become what you’re not.