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Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
Echo.IT, Stefan K. Madsen
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Echo.IT, Stefan K. Madsen

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  • 1. GETTING TO KNOW ECHO.IT Emphasize the desired actions and reach your desired business results with a purpose-driven ESN
  • 2. Agenda Sorry if you thought I would show a bunch of pretty pictures. I am afraid we are past that point. I would love to show you our product – but it is so amazing and we spend too much time building it for me to pretend it is only worth two minutes of your time. I will tell you who I am, where we live, why we build what we have build, what we build, and how it is going… And just for you, I will tell you how the story has progressed, some further reading tips, and end it with why it rocks to be an entrepreneur
  • 3. Who am I? Echo.it, CEO & Co-founder • B.Sc Bus Adm., & Philosophy & M.Sc Finance & Strategic Management I also love tattoos, punk rock and Millwall FC – – – – • • • • Top 10% CBS Recommended by both CBS and KU president Several other courses, including INSEAD Winner of several international case competitions Active in student union Active in entrepreneurship networks Professional carrier includes startups, operational PE, research and Government • Loves to nerd economics and politics Stefan@echo.it / +45 5150 3663
  • 4. FAMOUS FOR THE THREE RULES INVITE ONLY ALL WEB AND MOBILE ONLY SCALABLE BUSINESS Made by entrepreneurs
  • 5. Why echo.it? How do you take strategy from armchair buzzwords to daily operations? How can I help manage companies where I know little or nothing about how the value is created?
  • 6. Strategyimplementation: Moving an organisation from A to B B Results = performance = actions B Decision A Actions Top management fails to get strategy communicated = Organizational standstill and eventual new top management Top management formulates KPIs for middle management but provides no other tools = Organizational dissonance and infighting The organization manages to translate strategy into actions! That was pretty basic business school stuff, huh? Well, if is so basic, how come: • 40% of strategy implementations fails due to lack of implementation tools? Despite the top 3 ways to engage employees according to CEOs is ethics and values, cooperation tools and a clear purpose? • Only 27% of executives believe their employees are inspired by their company… • … and worst still only 4 percent of the employees agree Despite the fact that Engaged employees contribute: +19% operating income, +29% Earnings per share and +14% income growth and in another study grow the stock price 901% over a ten year period in value-oriented organizations? You need to empower employees to share daily actions and relate them strategy Source: Deterding, McKinsey, IBM, CEO C-Suite Studies: Leading Through Connections, Boston Research Group, Journal of Organizational Excellence
  • 7. The company as a nexus of stories: What is your strategy story? How do you tap into and align the story resource? Make them action-based: … Purpose-driven They are about • coworkers, • customers • Suppliers • etc The stories are the company! …for customers orientation … Easy Unstructured Stories of actions are already shared at • lunch • meetings • the water cooler • etc What have you done… Share and engage anywhere… across location and function … & Fun Earn recognition for doing the right thing
  • 8. The company as a nexus of stories: What is your strategy story? How do you tap into and align the story resource? Make them action-based: … Purpose-driven They are about • coworkers, • customers • Suppliers • etc The stories are the company! …for customers orientation … Easy Unstructured Stories of actions are already shared at • lunch • meetings • the water cooler • etc What have you done… Share and engage anywhere… across location and function … & Fun Earn recognition for doing the right thing Introducing Echo.it – the ESN with a purpose! The first SaaS tool for action sharing, employee recognition and behavioral change
  • 9. Echo.it is… Echo.it is an internal social media that can help engage employees and managers in the activities and goals of your organization. Echo.it brings advantages for both managers and employees when working with company goals: Employees get the opportunity to receive acknowledgement from colleagues and managers on the basis of their daily actions and engagement. Managers get the opportunity to emphasize the desired behaviors, actions, and KPIs. Further, Echo.it enables managers with a statistical insight into the behavior taking place across the organization and the departments.
  • 10. How does Echo.it work in practice? Employees are invited to a branded secure platform Categories are customized to facilitate the desired values, strategic categories or operational needs For example: Ann Jameson: “ I coached a colleague to have a difficult conversation around prioritization of projects ” This action inspires others, and the manager or other colleagues can follow up with feedback online and offline. The employee gets rewards from the system based on activity and quality of actions … and that is only the beginning. Echo.it can also do surveys, goals and special recognition and lots more… The action is aggregated in statistics that shows the overall involvement and the success of identity sharing
  • 11. What is the package like? Totally SaaS! 10 minutes to setup and customize look-and-feel and brand for new customers Fully automated launch, activation and retention of users • Smart stream and social media that matches the customer organization • Sort echoes to quickly find what you are looking for • Make categories department specific • • • • • • • • • Unique behavioral statistics Silo breaking follower-matrix Set goals Award badges – early gamification mover Do surveys or quizzes Newsletters and personal mails Mobile apps and api Zero maintenance cloud-hosting … and this is only the beginning! All that for only 2 EUR per user per month Oh yeah… we have Closeto-zero marginal cost of operating service
  • 12. We are proud to be an award-winning media darling on the uptake Awesome facts Customer examples Third largest aluminum company Close talk with Top15 German company • Average activity rate of 73% • Frontline personnel content: 70% • Positive content: 93% • 42% indicated a positive change towards their job from using the platform • Growing userbase • Beaten Yammer and Bunchball on deals • Winner of industry awards • Lot’s of national medias coverage • Huge academic interest
  • 13. The story so far…
  • 14. Further reading On entrepreneurship… On sales… On work… On the world…
  • 15. Why is it awesome to be an entrepreneur? Like most things, the answer is ”in your books” You can only sell to people, if they voluntary believe that you are improving their world = You know that you are making a positive difference Your profit depends on your ability to maximize utility usage = You know you are improving the world You reap the results, but even if it is negative you will have improved the knowledge of the human race. Pretty awesome! Source: Heroes under distress, Madsen 2009, CBS 16
  • 16. Where can employees engage with your strategy today? Thank you Go to www.echo.it/joinus

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