INSTITUTE OF MANAGEMENT CONSULTANTS
New England Chapter

News and Views

In this issue:

Member News

Member Views

Strategic Partner
Events

Member News

Lewis Green, L&G Business Solutions
http://www.l-gsolutions.com spoke about the pros and cons of Social Networking to members of Our Breakfast Club in New Haven on July 10th.

Ken Lizotte CMC, emerson consulting group inc. http://www.thoughtleading.com reports new testimonials about his book “The Expert’s Edge” have been posted on Amazon.com. A favorable review also appears in this month’s issue of Professional Marketing Forum Magazine.

Alan Weiss CMC, Summit Consulting Group http://summitconsulting.com
THE COACH - London, England, September 11-12 (The Haymarket Hotel) http://summitconsulting.com/thecoach_london.html
Watch, practice, and apply coaching methodology for a variety of situations followed by marketing guidance and fee criteria so that you're not lost among the coaching crowd.

Make Sure We Get Your News!
We get much of our content via emails from our members. Many of you have added to your newsletter and marketing distribution lists. In the last month or so, many feeds that come from Constant Contact and other services were blocked by our internet service provider. We have taken care of the problem. However, in order to ensure that your emails are getting through, please re-subscribe the address into your list. If you don't already do this, now is the perfect time to start.

Please let us know if you have any questions or problems with this. We look forward to receiving your news and content.

IMCNE Board Sets Its Sites on Transformation

The new board has been busy and is looking to carry on the level of professionalism that ex-President Mary Adams brought to the organization to that end, here is IMCNE’s new Vision Statement and our Goals:

Develop a community for our management consultants that is personally and professionally vital – where consultants depend on the professional support, personal friendships, and multiple information sources that help to expand their business and personal development. The vision is for IMCNE to be the primary venue for our membership to give and receive avant-garde knowledge to help them provide rare and timely value to clients while maintaining or establishing a preeminent position in the profession. 

Objectives:

• Transform IMCNE from a trade association into a professional community.
• Grow involved membership.
• Expand awareness of IMC and promote the associated prestige and high standards of the organization to businesses and non-member consultants.
• Build financial strength to expand internal programs and external marketing initiatives by developing strategic and financial sponsors and partners.

Member Views

Everything You Ever Wanted to Know About the Value of LinkedIn and Social Networking

Recently, I presented to a Breakfast Club in New Haven. Its members wanted to know more about social networking. My job was to share honestly social networking's pros (value) and cons (downsides). Like any good social networker, I reached out to my social network on LinkedIn and Plaxo Pulse.

At LinkedIn, I used the Q&A function and asked: Social Networking sites such as LinkedIn: What are their value and be specific please? At Plaxo Pulse, I created a poll, which follows:

What is the number 1 business value of sites such as Plaxo Pulse and LinkedIn? (21 votes)

1. Learning from connections. - 12 votes 57%
2. Getting your personal brand noticed. - 6 votes 28%
3. ROI as measured in new business. - 3 votes 14%

Here, in excerpted form, are samples of the feedback I received. The bottom line regarding value to social networking is evident in the responses at both sites. You can't buy better information, and for a business person, knowledge equals success.

• Raising your profile as an expert in your field (Q&A's the shizzle) -see how competitors are positioning themselves -time in equals interest generated. IOW, a steady presence, particularly on LinkedIn, will build your visibility, and credibility
• As a newly active member, my intentions to get involved more with LinkedIn were driven by the desire to make connections with people that can complement my skills or business needs. So far I have found it slow to start, but beginning to snowball as I often invite new people I meet to LinkedIn and start to take advantage of this wonderful web of connections that has been developed. As far as ROI, I see it coming in market knowledge via all the diverse responses you can gain from questions, free recruiting of consultants or employees and potential business opportunities for yourself as you build a trustworthy online personality that others will want to conduct business with. The actual ROI % will be hard to quantify, but I am sure it will rise or fall based on the level of interaction and participation on LinkedIn.
• The true value of social networking is to connect with like-minded individuals and create sincere relationships (with the emphasis being on sincerity). If your business succeeds because of these relationships, great. If not, then you still have people you can turn to for help and advice.
• One major coup was a new east-coast client who found me on LinkedIn. I did a six-month contract for him. That's a real LinkedIn success story.
• There is still a lack of trust element that needs to be addressed in these systems but I think in time that will happen.
• I always wince when I see the "ROI" question thrown into a discussion like this. Sometimes it's helpful to view it as a break-even, instead. First, the cost of LinkedIn is zero, unless you subscribe to a premium service, so the "I" can be nothing.
• One way many companies use Linkedin is as a test bed for potential recruits. By seeing how candidates present themselves through their online profiles, how they answer questions, or network with others, companies can use this as a filter to determine if a candidate has the requisite knowledge and/or social skills to effectively fill a role.
• Lewis, would be delighted to be invited to connect with you - took a look at your profile, and your attitude and expertise is of interest to me. Good luck with your presentation!
• Social networking is participatory. There can be no value extracted if no effort is put in. You must build a value chain for your own company, its position and the business strategy that you have. If there is alignment then you should be able to measure against your business KPIs -- and if there is no alignment, don't invest.
• I find that my own use of LinkedIN allows me to have my own 'advisory council' at the ready! I can ask of them just about any biz question, or need or marketing advice and get varied answers from all types of biz people -- entrepreneurs, CEOs, VPs, Mgrs etc etc....that kind of true learning is a godsend!!!!
• The value comes as definitely learning from the people I am connecting with. As a person whose job is to learn more about social media and apply it to our daily PR efforts, learning from others is key. Social Media is diverse with so many layers it would be ignorant on my part if I thought it was a solitary activity. Making the connections, networking and most of all listening from what others in the industry have to say are pivotal in a better understanding of how to adapt business strategies in a digital world.
• I'm surprised to have been the only one (so far) thinking personal branding is the most important benefit from LinkedIn and Plaxo participation. Of course, being a branding consultant and creator makes me a bit biased. But I've always looked at my blogs and participation at social sites as branding activities.
• I wish there were a fourth choice - no value at all. I don't see a business value in social networking - defining business value as attracting revenue opportunities. Social networking has a lot of buzz, a lot of activity, but limited real business value. My opinion...as unpopular as it is.

There were lots of other great responses but the above represents a good sampling of their range. My personal gratitude and thanks goes out to everyone who shared. Now it's my turn.

I am a member of LinkedIn, Plaxo Pulse and Facebook. Here's why:

1. Relationship Building: There is no substitute in life and business for relationship building. I believe relationships are our reason for being. I have made new friends through social networking, and I have grown my business through referrals.
2. Knowledge: No one can learn or become aware of all the things we need to know to be good at what we do. Reaching out to others through our social networks increases our knowledge exponentially. All we need do is ask and we shall receive. The above feedback represents ample proof. As Aaron Strout says: Social Networking/Media creates the power of "we".
3. Brand: Both my business and my personal brand have become internationally recognized through social networking and social media. And I didn't spend a dime, although I invested my time by participating and I share whenever I can with anyone who asks. Pay it forward is a synonym for social networking.
4. Business: Forty percent of last year's business growth is directly attributable to social networking and social media.

Finally, even if I could not identify any value other than making new connections and building new relationships, the investment would pay off a thousand-fold.

Upcoming Events

Strategic Partner Events

The following is a Calendar of Events listing upcoming meetings of our STRATEGIC PARTNERS. As a member of IMCNE you may register for ICFNE, NEWBO, SPC and ICCA events at the member rate and for ODLG you may attend for $20. All other Strategic Partner events you must pay the guest fee. To learn about the details of each meeting or to register, click on the web site listed with the event.

“TBA,” – Merrimack Valley Venture Forum, www.mvvf.org

Click here to view the Strategic Partner events calendar.

Roundtables: Next Event Featuring You?

Have you read a good business book lately? Do you have a question that you would love to ask a group of consultants? Are you one of our New England members that are tired of all our meetings being held in Boston? Do you have a challenge that you are facing and would like to get feedback? Do you have a case study that would fuel a good discussion? THEN USE THIS RESOURCE.

It takes about three minutes to fill out a Roundtable Proposal. You give us a title and description; we’ll publicize it and handle registrations. This program helps our members Get Smart, Get Known, Get Business. What are you waiting for? Download the form today from our Programs page (http://www.imcne.org/programs.htm) or contact Ronna Cohen at 508-788-0466 or .