Posts Tagged ‘CUWarrior’

The Innovator’s Dilemma

January 29, 2009

Today, Matt Davis, aka the CUWarrior, whom I had the pleasure of meeting at last October’s 2008 Indy Partnership Symposium, and has a blog here, posted a great article on Open Source CU, titled Using the Blue Light to get a Green Light.

He brings up some great points about innovation, which I can’t disagree with in the abstract. It is indeed an excellent technique to start an innovative project at the lowest cost possible in order to get buy-in from upper management. It doesn’t make sense to spend large dollar amounts if the payoff is unsure. Financial institutions, or any businesses for that matter, would go downhill rapidly if they did so often.

But I want to make the case that it’s not always possible or advisable to innovate by dipping a toe in the water. Here are a few cases where “DYI” innovation won’t make the grade:

1.) The innovation requires a large scale for the desired effect to be realized, or it’s launched in such a small scale that it doesn’t get noticed.
2.) More cost in dollars is expended trying to do it yourself than it would have taken to hire a professional
3.) The innovation does not take off because it was ahead of its time
4.) Your competitor spots your innovation, and implements it more fully than you did, stealing customers in the process

But on the flip side, here are reasons why you SHOULD attempt something on a small scale before going bigger:

1.) It turns out no one wanted your innovation after all. At least you didn’t through money away, and you’ve learned something along the way about your customers and/or your organization.
2.) Your original idea was too complicated; it turns out that the foundation was right, but it needed to turn in a different direction. By expending the minimum resources in development, you can make the necessary adjustments without having spent too much.
3.) If the innovation is a good one, it should reach a self-funding state relatively quickly. You can test, prove the business case with results, then develop it in due course as funds warrant.

So how do you tell in which camp an innovation belongs? It comes down to your organization’s DNA, the filter by which you run everything. The more an innovation directly lines up with your organizations brand, its DNA, the more resources should be allocated to the innovation.

On a completely unrelated note, check out this cool restoration of an old school traffic light, made before the color yellow was invented.

Advertisements

Rev up your Twitter bio; Twellow is here

June 30, 2008

Twello.comI learned today, from a Facebook group about Twitter, of a site launched on June 24, 2008, called Twellow. Twellow is named for “Twitter Yellow Pages.” It’s a searchable directory of Twitterers, aka Twits, aka people who use Twitter.

I was interested in this new web site because just recently someone said that a twitterer version of Alltop.com ought to be created. Lo and behold, a few days later, here it is in the form of Twellow. I scanned the main categories and they looked like a typical yellow pages. There was no category on the home page for ‘finance’, and none for ‘social media.’ So I really didn’t give it a second thought. However, some of my twitter friends (CUWarrior and Christopher Stevenson) were more thoughtful, and plugged ‘credit union’ into the search field to see the results. The results showed 15 credit union twitterers. By default, people are shown in descending order by the number of followers. At the time of this writing, the Top 10 results were: @CUWarrior, @TonyMannor, @weatherchaos, @RobWright, @CreativeBrand, @Clint_Williams, @mfagala, @markiev33, @Kent_CULifer, and @BenJoeM.

I took at look at who was being listed, and have deduced some of the ways in which the site works to list people.

Up until now, the only real purpose of your Twitter bio (limited to 160 characters), was to be interesting. If someone was interested in being your Twitter friend, their decision might be influenced by your bio. But if Twellow takes off in popularity (Mashable calls Twellow the people directory that Twitter itself ought to have built. Review hat tip: Ginny Brady), then your Twitter bio becomes much more important.

Twellow uses your twitter bio to categorize you.

Suddenly a creative bio is much less attractive than a straightforward bio if you are interested in being listed “well” in this directory. Each of the 15 people on the search results for ‘credit union’ had (surprise, surprise) the word “credit union” in their bio. This prompted Tim McAlpine to question why he wasn’t on the list. The answer is that right now Twellow is DUMB when it comes to singular vs. plural. Searching for “credit unions” yields a different list of five people than “credit union”, and includes Tim. We’ll see how long Twellow remains “dumb” in this way.

One last point about how Twellow categorizes people: Twellow has an algorithm that puts you into certain categories based on the keywords in your twitter bio. This is different than the simple and straightforward search (i.e. searching “credit union” yields the results of those who have “credit union” in their bio.) Keywords have been sorted, so that the word “CEO” in your bio puts you into three categories: Management, Management -> Executives, and Management -> Executives -> CEOs. Check out the categories that other people have been put in, and examine their bios to deduce what keywords have put them there.

I have updated my twitter bio armed with this new information. I am wondering how long it will take for Twellow to re-index me. I’m guessing I’ll be waiting for a re-index longer than it takes the Twellow programmers to get “smart” about singulars vs. plurals.

***Update 11:50 pm***
@William Azaroff cracked the code after reading this post, of how to get Twellow to re-index you after you change your Twitter bio. Once you’ve changed your Twitter bio, go to the Twellow page Get Listed, and submit your twitter username. Twellow will give you an error message, saying that the name is already indexed. However, within a couple of minutes, Twellow will re-index your profile and get the latest information available from twitter, including latest tweet and bio. Within five minutes, your changed bio will be reflected in Twellow’s search results. Feel free to mix, experiment and optimize how you want to be found on Twellow.