Tuesday, May 3, 2011

Why It Pays to Be No. 2 in Your Industry


The Study: "Legitimacy Vacuum, Structural Imprinting, and the First-Mover Disadvantage," by Stanislav D. Dobrev, David Eccles School of Business, University of Utah; and Aleksios Gotsopoulos, Boston University; Academy of Management Journal

The Finding: Contrary to the accepted idea of "first-mover advantage," the best time for a start-up to enter a new industry is after other companies have already gotten there. Because basic practices, such as lining up suppliers, have not yet been established, first movers perform poorly at these tasks.

The Methodology: The authors researched the U.S. auto industry going back to the 1880s. The most successful companies entered the industry only after some 20 others had launched. The researchers compared their findings with the experience of French and British auto firms to corroborate the relationship between first movers and failure.

Intriguing Insight: Most people believe in the first-mover advantage because they rarely hear about the many first movers that fail.

The Takeaway: If you are second—or third or fourth—to market, you stand a better chance of success by learning from the first guy's mistakes.

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Nominations open for the 2011 .net Awards (zeldman.com)

SUGGEST YOUR FAVORITE sites, apps and people and celebrate the best of the
web. Nominations for the 13th .net Awards are now open at
www.thenetawards.com. We want you to help us find 2011?s best of the web and
there are 16 categories to choose from. This year there's a renewed focus on
emerging talent with [...]


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Shortlist of Twitter Apps for Your Desktop

Last time I was discussing the challenges in deciding which Twitter tools to use once you've decided you're going to use Twitter at all. And when I say "use" I'm focusing on your role as a distributer of content.

I want to reiterate that this isn't as big a decision as, say, choosing blogging software. If you decide to change blogging software it can be a real pain (and expense) to do so. But Twitter management tools tend to have three things in common that make them wonderfully interchangeable:

Free Versions - pretty much all the tools have a free version that will work for the majority of people. You don't have to make any financial investment to try the tool out.

Low Learning Curve - the tools don't take a lot of time to learn how to use – so you don't have to invest inordinate amounts of your time to discover if one of them is going to work for you.

Won't hoard your content - because the tools are basically taking content from Twitter itself (and just displaying it in a more useful way), your core content is on Twitter, not stuck inside the tool. You can even use more than one tool to read the same content in different ways if that's what works for you.

So it's not that hard to switch between them or even to use more than one tool at the same time! While I offered some hints last time on mobile tools, this becomes more relevant as we look at the tools you'll consider for desktop usage.

In fact I actually use four or five different tools to manage my Twitter accounts. Between active posting, list management, direct message conversations and statistics, there isn't one tool so far that has met all my twitter-ing needs. While this obviously isn't ideal from an ease of use perspective, it is great that I at least have the option to use as many tools as work for me i.e. using Co-Tweet to answer all of my direct messages or using HootSuite to publish all of my posts. This is only possible because the tools happily pull all of the relevant content *from Twitter* instead of storing it in their own database. So I never actually *have* to choose.

Here is a breakdown of some of the available tools that I think are worth checking out:

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TweetDeck - known for it's desktop version but also has a mobile version. You can monitor multiple accounts, tweet from multiple names, and setup pop-up alerts. There's also an iPad version.



CoTweet - great when you'd like to give multiple users access to the same Twitter account or even assign specific posts to an individual user to respond to. Because of it's multi-user and assignment features it's a great tool if you plan to use Twitter for customer service and has attracted large brands like Starbucks, JetBlue, and Coca-Cola. They do offer a feature-rich free version. As of the writing of this article it is desktop only.

Twhirl - like CoTweet and TweetDeck, Twhirl can handle multiple accounts and has all the features you'd expect. Note Twhirl was acquired by Seesmic in 2008.

HootSuite - a great tool (and my personal favorite) with a user-friendly interface. All the standard Twitter functions plus the ability to track keywords and trends, post directly to Facebook, schedule posts, put followers into groups and the ability to manage multiple accounts. You can also track clickthroughs on your embedded links. HootSuite has both desktop and mobile versions.

Twitbin - Twitbin is actually a Firefox extension that allows you to view your Twitter accounts as a sidebar in your browser. This setup allows you to easily keep a constant eye on what's happening on Twitter. Wonderfully convenient. For those who want to make Twitter a central communication tool holding real time conversations and posting multiple times per day this "always on" setup may be the tool for you!

SocialOomph - people really debate the automated direct reply issue. I like it beacuse although it can be annoying having to delete DMs that aren't very useful, it can also be a quick way to learn more about the person you just followed -- what someone puts in their direct message, and sends to every single person who follows them is telling. Or if you ask a good question in your own automated DM, it can be a way to learn something about the person who just followed you. SocialOomph has a good tool to enable you to create an automated DM as well as lots of other features.



Which Twitter desktop app do you use? Did I leave yours off of the list? Have you had any great or challenging experiences with any of the tools above?

One of the most important things you can do on Twitter is actually engage other users. While the list above tackles some of the basics of posting, next time I look forward to getting into tools for engagement and for measuring your success.

Follow me on Twitter. Special thanks to Dave Clarke, Communications Strategist at Churnless, for his excellent help in compiling the data for this article! You can ask Dave about his favorite Twitter tools at @thedaveclarke or ask me more about mine at @maishawalker.

Read Related Articles by Maisha

Pick the Right Twitter Tool: Mobile Apps8 Types of People on TwitterYour Social Media Marketing "Killer App"A Guide to Social Media Tools and their Uses

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Revolutionizing the Restaurant Business

Each day, Inc.'s reporters scour the Web for the most important and interesting news to entrepreneurs. Here's what we found today.

The next generation of Groupon competitors? Since Groupon launched just three years ago, the Chicago-based company has attracted scores of "me-too" competitors offering similar discount services. But many small businesses that use Groupon question its actual value, says Mike Periu in a post today on OPEN Forum. "There have been many well-documented horror stories of mom and pop stores being flooded with “Groupon groupies” that lead to thousands of dollars in losses," he writes. Enter Village Vines, a New York-based start-up that takes an alternative approach to selling: they partner with restaurants, who then are able to offer discounts to customers in off-peak hours through their service. The goal? Fill excess capacity. "Unlike Groupon, your restaurant won’t have 500 people knock down your door at once to obtain the 90 percent discount on your appetizer special," Periu says. "You are selling your excess reservations. Once they are filled, there is nothing more to sell."

Apple sues Amazon over "App Store." What's in a name? On Tuesday, Amazon's Appstore went live and it appears Apple is less than thrilled. "Last week, Apple sued Amazon in a California federal court, asking a judge to block Amazon from using the term "Appstore," CNN reports. "Three years ago, Apple applied for—and was granted—a trademark on its own "App Store," an online software emporium that now offers more than 350,000 applications for the iPhone, iPad and iPod touch and has delivered more than 10 billion downloads." Apple claims that customers are likely to confuse the difference between the two "stores," but it's also easy to imagine Amazon's frustration. After all, it doesn't take a marketing guru to come up with the simply-named "App Store."

The best education for an innovator. Is it engineering or the humanities? Vivek Wadhwa, a professor at the Pratt School of Engineering at Duke University, weighs in on the issue on TechCrunch. Wadhwa once agreed with the hard-science teachings of Bill Gates, but now supports the logic of Steve Jobs, who once said, "It’s in Apple’s DNA that technology alone is not enough — it’s technology married with liberal arts, married with the humanities, that yields us the result that makes our heart sing and nowhere is that more true than in these post-PC devices." While Wadha acknowledges the the role of the liberal arts in technology, he also notes that jobs for liberal arts majors are harder to come by. Ultimately, he advises people to study the subject that appeals to them most. After all, many Silicon Valley entrepreneurs came from fields other than engineering and mathematics.

Entrepreneurs test the waters. Water shortage is a truly global issue: The World Health Organization's report last year found about 884 million people worldwide lack access to satisfactory drinking water. Increasingly, entrepreneurs and business leaders are finding ways to make water usage more efficient, and maybe even finding some profit in between. According to The New York Times, entrepreneurs, innovators, and investors are stepping up to solve some of the most prevalent issues in the water industry, such as micropollutants, leaks, and aging infrastructure. Start-up companies like Seattle's Hydrovolts, Philadelphia's BlackGold Biofuels, and Toronto's XPV Capital are all working on solutions to utilize water power and even putting "waste water" to use. "The ways we solved water issues in the 20th century are not going to work in the 21st century," David Henderson, a partner at XPV Capital, told The Times.

The birth of boomer start-ups. Rates of entrepreneurship are 50 percent higher for people between the ages of 55 and 65 than people between 20 and 34, according to a study by the Kauffman Foundation. But why? The Wall Street Journal ponders that question, after publishing questions about working during retirement. So, are start-ups by "mature workers" born out of creativity, curiosity, and boredom ... or out of necessity—say, a layoff, or the sour economy. What do you think is driving entrepreneurship among baby boomers these days?

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Monday, May 2, 2011

NuevoStage Brings Groupon Type Buying To Band Bookings (Blog Herald)

NuevoStage wants to do for band bookings what Groupon has done for retail
shopping. The site, currently in Alpha testing allows bands to sell tickets
for their shows through the website, while sharing those upcoming gigs with
fans. Site founder Maxwell Wessel and co-founder Chris Allen�came up with the
idea when they realized that many [...]


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How Do You Figure Out The BIG Picture?

Source: MiriamBuhr.com | Author: Miriam Buhr

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