What is Social Business anyway?
It certainly sounds better than Human-Centered Data-Backed Agile Design, or the mouth-cluttering acronym that would accompany it. All the hoola boo around the labels of "social business" (and its greatest evangelist's pivot away from it) distracts from what is emerging as a blend of highly powerful business strategies.
So let's fix that.
- Use Design Thinking: in particular, human-centered design puts user experience at the start of the process, not just as an after thought.
- Apply Big Data: more buzz words? Maybe, but great social business leaders put data to use to give users and staff personalized and memorable experiences like never before. They help them lead and connect tribes.
- Connect: we operate in the connection economy (as Seth Godin would tell you), and great social businesses are as good at listening as they are at telling.
- Innovate: this isn't just an R&D term anymore. Everyone is responsible for innovation and customer service - this is the new six sigma.
You don't need a gagillion dollars anymore to do any of these things, in fact, some of the best tools for each are nearly free. Social businesses create movements. This is worth much more than speculative equity.