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The Social Web and Your Business's Five-Year Survival Rate

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AUTHOR(S):

Stephen Randall, Founder & Chief Executive, LocaModa Inc.

 

No one has a 100 percent chance of surviving the next five years is the ominous opening of this piece - an obvious wakeup call. But the author's point is that even if you learned you had only an 80 percent chance of survival, isn't it likely you would do some things differently, even if you stood to make some mistakes? More than half of small businesses fail before they reach the five-year mark. That's what Stephen Randall wants us to consider as we drive our organizations into the next decade. Randall has been a mobile computing entrepreneur for more than 15 years, and his take on the advent of social media is that it will change the business scenario in ways we have yet to imagine - and yet ignoring it will be a bigger mistake than any we are likely to commit by embracing it. He offers three important tips for companies plotting their entry into this new frontier.

 

PUBLISHED: 2010

 

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