Canadian - Businessman | December 30, 1974 -
During the early days of HootSuite, when social media was still seen as a fad, I made the decision to treat our funding as if it were my personal bank account. That's not to say I blew it on fast cars and fancy dinners. Exactly the opposite.
Ryan Holmes
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The decision to leave a company you founded and move on to a new project is never an easy one.
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Entrepreneurs, by disposition, are built to think big. When a role no longer affords those opportunities, it might be best to leave it in capable hands and move on.
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A critical question to ask when bringing in a new CEO to take the reins of a company you started is: Do you want someone who will maintain company culture or reinvent it?
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I'd like to think my company HootSuite is anything but a stodgy old-boys' club. As a social media company, our employees are by and large young, progressive and open-minded.
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Working with lots of old media clients, I've had a front-row seat on the ascension of new social players and the decline of traditional news outlets. And it's clear to me that old media has an awful lot to learn from social media, in particular in five key areas: relevance, distribution, velocity, monetization, and user experience.
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Social media, for all of its limitations, is rarely irrelevant. The stream of updates on your Facebook page, for instance, is algorithmically engineered to be darn-near irresistible.
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Don't be scared to try new things, but remember to hold on to the vision of your company and the initial successes that defined your brand.
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It helps to look at branding as a challenge that entrepreneurs spend years perfecting.
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While consumer social like Facebook and Twitter gets the headlines, perhaps the greatest untapped potential for social networking lies in business applications.
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Not using social media in the workplace, in fact, is starting to make about as much sense as not using the phone or email.
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The growing role of enterprise social media, plus the growing budgets and authority of CMOs entrusted with choosing the best platforms, translates into an exciting future for apps that harness social potential for large companies.
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