| Winter 2009 | ||
|
Dear Friends:
I hope you enjoy this issue, and as I explain in the feature article, the next time the media dishes out the latest news of the “economic pickle” — ask for a sandwich! Warm regards,
Embracing “Creative Destruction” to Create, Innovate and Spark a New Era The notion of “creative destruction” originates in the writings of nineteenth-century men, such as German philosopher Friedrich Nietzsche, and Mikhail Bakunin, a Russian revolutionary. However, it was Austrian economist Joseph Schumpeter who popularized the phrase by using it to describe a process in which the old ways of doing things are destroyed and replaced by new ways. In his writings, he describes an entrepreneur as someone who is willing and able to convert a new idea into a successful innovation. And, that entrepreneurship forces creative destruction across markets and industries while simultaneously creating new products and business models. In the same Austrian’s vision of capitalism, it was also entrepreneurs’ innovation that sustained long-term economic growth. In recent times, we’ve seen creative destruction at work – the way Wal-Mart revolutionized retailing; how digital photography displaced Polaroid, and more currently, the creative destruction of the traditional printed news by the new model of free online content. What a beautiful theory – especially when applied to the new era we’re entering. History lesson aside, in a business world that’s presently assessing its “creative destruction,” the leaders of tomorrow’s successful companies see opportunities and learning experiences where others may only find demise. Could I Get a Sandwich with that Pickle? On any given day, the reverberating thought in everyone’s mind based on 24/7 news is… “Okay – I get it! We’re in a pickle – economically, speaking.” As professional communicators, we help entrepreneurs effectively communicate the impact of their innovations in the market. And to the hourly news reports of the latest “creative destruction” to take place, we say “Can I get a sandwich with that pickle?” It’s time to quit harping on the negative “pickle” side dish and layer on more meat to offer a complete meal. While we don’t have all the answers, as entrepreneurial marketers ourselves, we do have a few innovative ways to help businesses build new solutions. Engage the Market to Shape Relevant Innovation Companies that succeed go beyond knowing their customers’ immediate concerns and work hard to understand what the market will need one, five or 10 years from now. With the power of Web 2.0 tools like social networking, businesses now have more power than ever to connect with the market through online communities to build a sustainable dialogue to help fuel that innovation. Getting to know what businesses’ priorities are and how they plan to survive can position your company better for developing a solution to address their needs, make them more competitive, save money, and ultimately help them thrive. Practice What You Preach While the consensus among corporate leaders is innovation is key to business growth, a 2007 Forrester study found that those leaders may have talked the talk, but they didn’t walk the walk. The study concluded that the majority of leaders did not include innovation as a focus for their leadership team. Fast forward to 2009 and business leaders should not only be focused on innovation to drive future growth, but they need to put the theory into practice now to sustain their companies. In addition to offering customers innovative solutions to solve their business challenges, marketers need to be integrally involved in the internal communications efforts to lead a company-wide focus on innovation from the top down. Embrace Change As technology veterans who can remember BTI (Before the Internet), we’d be ‘creatively destroyed’ ourselves if we ignored the social media trends growing like wildfire. Of all the new social media technologies today, the primary communications tool we predict as having the most impact on your business is communicating to your constituents through Web video. While TV and radio have been utilized by some companies in the past, we’re no longer communicating in a predominately print-based business world. Text-based communications will never go away, but if your company ignores Web video, you’re ignoring an entire up-and-coming generation that not only prefers video, but who’s grown up consuming information in a visual format, on demand. Ten years ago, who would ever guess that Forbes would become a hybrid media company that offers video network programming? Many newspaper and magazine editors are requesting content in multiple media formats – such as audio and video – to support digital versions of their publications. Bottom line (no financial pun intended): it’s a natural instinct to hunker down and weather the storm. But it’s worth the risk to stick your neck out and focus resources on the exploration of tomorrow’s niche opportunities. The end result could very well be a company that rises to the challenge of entrepreneurialism instead of being a dinosaur that ends up as a footnote in Wikipedia as a victim of creative destruction.2009 Southeast Venture Conference to Address Economic Effects on VC Market
In addition to panels and feature speakers, the conference will feature showcase presentations from 40 of the most dynamic high-growth companies from the southeast and mid-Atlantic regions... from top early-stage companies to the later stage NASDAQ’s Pre-IPO forum. Already confirmed for the event is over $60 billion in investment capital from attending investors. "We're excited to bring the SEVC to the thriving Atlanta venture and entrepreneurial community," said SEVC director Eric Gregg. "Atlanta represents much of what is great about the southeast technology region as a whole and will be a great host for SEVC 2009." For a list of additional speakers and other event information, visit www.seventure.org.
Before this ‘original’ Carabiner found his destiny in the PR world, he was a manager of a skate shop in northern England. Never a fan of butternut squash, Peter traveled over the Atlantic pond and halfway across the U.S. to study journalism and PR at the University of Utah. On summer weekends you may find him at Lake Lanier or camping with his family, where he enjoys using his latest gadget, a folding camp stool. Click here for more fun facts on Peter.
Even though this Roswell native grew up on Saved by the Bell, she still considers Tori Spelling her favorite celebrity. Not surprisingly, the habit she’d like to break most is reading TMZ Nightly. As friends and fellow Carabiners call her, ‘Aud’ earned a degree in economics from the University of Michigan but learned organizational skills on the job working in her parents’ fan store when she was 15. To find out what Aud’s favorite movie is and other fun info, click here.
What does the movie Out of Africa have to do with Kauai, Hawaii? One is Jan’s favorite movie, while she spends many a winter day dreaming of visiting the other. Don’t feel too bad: temperatures this month won’t dip too low for this St. Augustine, Florida resident. To find out if you share any of Jan’s top TV shows picks from the ‘70s, click here.
|
We explore the concepts of entrepreneurship and creative destruction and how the current business environment is ripe for innovation in this issue of Beta. And speaking of innovation, this issue also highlights the upcoming Southeast Venture Conference in Atlanta where 40 of the most dynamic high-growth companies from the southeast and mid-Atlantic regions will take the stage. One look at the list of companies selected to present proves that entrepreneurship is thriving in our region. 
The Southeast Venture Conference (SEVC)
Carabiner is launching a new social media and video service, SocialConnectorSM, to help B2B companies build and integrate social media tools and content into their communications campaigns. The firm has named 
| About Carabiner Communications Your high-tech business needs help scaling today’s competitive markets. Carabiner Communications is a technology PR firm that helps you connect. With 80-plus years of high-tech PR and marketing experience and over 500 product launches under our belt, we can hook directly into the core of your business, without the learning curve of other agencies. |
