I’ve often found managers and leaders are very focused on the business which is right in front of them. They are on top of their team’s productivity. They are familiar with how their department (or team) is stacking up against the goals and measures they are expected to deliver. However, this microscopic view of their world can prevent them from understanding the bigger picture!
This blind spot can not only have disastrous consequences for your business, you may miss out on opportunities to take advantage of new trends and ideas that can fuel your growth – not to mention make you look like “one smart cookie.”
This post highlights a five ideas on how you can efficiently stay in-tune to what’s happening in your industry, as well as your particular business line (e.g., professional services, marketing, finance, sales, etc.).
5 Ways to Stay Informed
1. Follow hash-tags (#) on Twitter for key industry terms – I’ve been a laggard when it comes to Twitter. However, this is a great resource to uncover loads of information about nearly every topic. If you are a twitter user, you’ll know people will often use hash-tags (#) to categorize what their “tweet” is related to. Following hash-tags for key terms used in your industry will connect you with articles and a list of people who share, write or opine on that topic. When I first started blogging on leadership and management, I found Twitter to be the single best source of connecting me with other bloggers on this topic. I’ve done the same thing with my industry and have learned a lot about how other professional services managers are solving similar issues I’ve run across. I’ve been connected to some great articles on other SaaS (Software as a Service) companies, as well as what customers think about the services being provided. All of this gives me good ideas to leverage with my own teams. Without twitter, I may have missed all of this great information.
2. Follow industry bloggers – Blogging has taken off as one of the largest mediums to share information. What’s interesting about blogging is the sheer number of people discussing various topics at amazing depth. It doesn’t take long to figure out who the key bloggers are in your space of interest.
3. Follow your competitors – Knowing what your competitors are doing, will not necessarily get you ahead of the curve. However, it will prevent you from eating their dust. Paying attention to their financial performance, press releases and any other notables will keep you apprised as to what they’re doing.
4. Attend Conferences – The most time consuming and/or expensive (depending on the conferences you go to) idea on the list. This also requires the most work on your part to get the most our of a conference. It requires discipline and a game-plan. However a well chosen and attended conference, can be a great opportunity to learn more about business best practices, as well as identify industry influencers.
5. Networking – Getting to know people who work your industry or share a similar job as yours, are great ways learn what’s going on in your space. This is also a great way to share best practices and get ideas on how you can run your business better. Obviously, networking with a direct competitor can lead to some obvious conflicts of interests.
Tools of the Trade – how to stay informed quickly!
The good thing about the internet is the amount of information available. There’s loads of it! The bad thing – there is loads of it!! You can easily get overwhelmed with the sheer volume of information coming at you. Here are a few tools to help you take the ideas above and consolidate them into a more useable format.
Google Reader – This is a Web-based content aggregator, which allows you to subscribe to RSS feeds, websites and atoms to bring together all of the information you want into a consolidated format. You can take a quick tour here.
Tweetdeck – This application can help you centrally connect with your contacts across Twitter, Facebook, MySpace, LinkedIn and more. They have a great user interface for helping you track various hash-tags you follow. This is my primary tool for following everything related to Twitter.
Tabbloid – I’m still playing with this one. It’s a lot like Google Reader, but reads more like a magazine. You can also set-up automated email delivery in a frequency that works for you – very convenient!
And while these tools can help you attack your quest for industry knowledge, it’s ultimately up to you to carve out the time to keep up on your industry and line of business to be a more robust leader and manager!!!
QUESTION: How do you stay informed on the trends in your industry?