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Online Dating is the Future of Business

by David Teten

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Online Dating is the Future of Your Business

Online Dating is the Future of Your Business

Presentation to TEDx Silicon Alley October 26,2011

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Online Dating is the Future of Business Presentation Transcript

Online Dating is the Future of Your Business David Teten Partner, ff Venture Capital ffventure.com blog: teten.com @dteten New York, NY info@teten.com© 2011 David Teten. More at ffventure.com and teten.com http://www.flickr.com/photos/cali4beach/5447189098/in/photostream/
ff Venture Capital (ffventure.com) • Early-stage technology venture capital fund based in New York • Founded 1999, with over 100 investments in over 44 companies • Focus on early stage web-based services companies with disruptive models, including SaaS, video gaming, digital media, social, mobile and VoIP • First investments typically $50-$250K at valuations of <$5m pre-money • 50% of fund reserved for follow-on investments • Prominent angel investments include: Cornerstone OnDemand (IPO); Quigo Technologies (sold to AOL for reported $340m); Klout, Hashable, Voxy, Phone.com • Three partners: John Frankel (21 years Goldman Sachs) and David Teten; one Venture Partner (Michael Yavonditte, CEO, Hashable)© 2011 David Teten. More at ffventure.com and teten.com
David Teten Biography (teten.com) • Partner, ff Venture Capital, early-stage technology venture capital fund • Founder and Chairman, Harvard Business School Angels of New York • Founder and Chairman, Navon Partners, startup focused on sourcing deals for private equity funds • Managing Director, Evalueserve, 2,500-person finance-focused research and analytics firm. • Founder and CEO, Circle of Experts (investment research firm), sold to Evalueserve • Founder and CEO, Teten Executive Recruiting, sold to Accolo, #42 on 2007 Inc. 500 • Founder and CEO, GoldNames, domain name investment bank, based in Israel • Technology/Defense Investment Banking, Bear Stearns (#1 group at Bear investment banking by revenues) • Lead author, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com) • Harvard MBA 1998, Yale BA, both with honors. • Contact: info@teten.com© 2011 David Teten. More at ffventure.com and teten.com
Why should I care about social media? •Because 3 out of 4 Americans use social technology. (Forrester, The Growth Of Social Technology Adoption, 2008) •2/3 of global internet population visit social networks (Nielsen, Global Faces & Networked Places, 2009) •Visiting social sites is now the 4th most popular online activity—ahead of personal email. (Nielsen, Global Faces & Networked Places, 2009) •Visitors spend 5 million minutes per day on Facebook. (Facebook)© 2011 David Teten. More at ffventure.com and teten.com http://www.slideshare.net/mzkagan/what-is-social-media-2005829 . http://www.flickr.com/photos/sreejithk2000/2385193167/sizes/l/
But I don’t use social media, and neither do my clients/colleagues! • The reality: you and your clients are in the matrix whether you like it or not. • Your clients search for you on Google before doing business with you. • You are already a member of gated online communities, which you may or may not be fully leveraging: your alumni network, your local “Moms” or “Dads” mailing list, your church/synagogue/mosque • You can accelerate your sales process by leveraging potential clients’ digital footprints. These help you to source leads, filter them, and then run a better educated sales process.© 2011 David Teten. More at ffventure.com and teten.com http://www.slideshare.net/mzkagan/what-is-social-media-2005829 . http://www.flickr.com/photos/sreejithk2000/2385193167/sizes/l/
“The Social Web is defined as people interlinked and interacting with engaging content in a conversational and participatory manner via the Internet." - Shaun Connolly, Open Thoughts on Software, Business and Life© 2011 David Teten. More at ffventure.com and teten.com http://connollyshaun.blogspot.com/2008/06/social-web-defined.html http://www.scribemedia.org/2010/10/15/infographics-mapping-the-social-web/
Benefits of the Social Web • Searchable • Cheap • Crosses boundaries of time and space • Passive presence • Ease of forming groups • Reduced time and expense • Greater visibility© 2011 David Teten. More at ffventure.com and teten.com http://www.flickr.com/photos/uaeincredible/3333223048/sizes/o/
Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1© 2011 David Teten. More at ffventure.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (www.TheVirtualHandshake.com)
Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1© 2011 David Teten. More at ffventure.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Character How to grow Character in before the social web Social web… the social web Read Stephen Covey. expedites diligencing, Read Stephen Covey,and be particularly through reference- aware you’re traceable. checking.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Character How to grow Character in before the social web Social web… the social web Read Stephen Covey. expedites diligencing, Read Stephen Covey,and be particularly through reference- aware you’re traceable. checking.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Character How to grow Character in before the social web Social web… the social web Read Stephen Covey. expedites diligencing, Read Stephen Covey,and be particularly through reference- aware you’re traceable. checking.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1© 2011 David Teten. More at ffventure.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence How to grow Competence in before the social web The social web... the social web Go to pedigree school, creates and allows publicizing Teach yourself and get work for pedigree company. of recognizable, tightly defined credentials online. credentials.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence How to grow Competence in before the social web The social web... the social web Go to pedigree school, creates and allows publicizing Teach yourself and get work for pedigree company. of recognizable, tightly defined credentials online. credentials.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence How to grow Competence in before the social web The social web... the social web Go to pedigree school, creates and allows publicizing Teach yourself and get work for pedigree company. of recognizable, tightly defined credentials online. credentials.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence How to grow Competence in before the social web The social web... the social web Publish a book. expedites evaluation Put your work product, or of work product. evidence of work product quality, online.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence How to grow Competence in before the social web The social web... the social web Publish a book. expedites evaluation Put your work product, or of work product. evidence of work product quality, online.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence How to grow Competence in before the social web The social web... the social web Publish a book. expedites evaluation Put your work product, or of work product. evidence of work product quality, online.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence How to grow Competence in before the social web The social web... the social web Study hard. makes you as smart as Google. Build skill in obtaining information online/via social networks.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence How to grow Competence in before the social web The social web... the social web Study hard. makes you as smart as Google. Build skill in obtaining information online/via social networks.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Competence How to grow Competence in before the social web The social web... the social web Study hard. makes you as smart Build skill in obtaining as Google. information online/via social networks.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1© 2011 David Teten. More at ffventure.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Go to conferences. allows financial capital to Use expert networks (Gerson Ask friends for introductions. substitute for social capital. Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks.© 2011 David Teten. More at ffventure.com and teten.com http://www.flickr.com/photos/23439761@N03/3258313816/sizes/l/
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Go to conferences. allows financial capital to Use expert networks (Gerson Ask friends for introductions. substitute for social capital. Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Go to conferences. allows financial capital to Use expert networks (Gerson Ask friends for introductions. substitute for social capital. Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Look for the most attractive collects and disseminates more Use ranking systems to identify person in the crowd. data, which allows wiser most pertinent people. decision-making.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Look for the most attractive collects and disseminates more Use ranking systems to identify person in the crowd. data, which allows wiser most pertinent people. decision-making.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Look for the best-dressed collects and disseminates more Use ranking systems to identify person in the crowd. data, which allows wiser most pertinent people. decision-making.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Wear a T-shirt with a allows you to be findable and Optimize your personal web company logo. therefore connect with more visibility just as companies Relevant people. optimize their web sites for search engine visibility.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Wear a T-shirt with a allows you to be findable and Optimize your personal web company logo. therefore connect with more visibility just as companies Relevant people. optimize their web sites for search engine visibility.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Wear a T-shirt with a allows you to be findable and Optimize your personal web company logo. therefore connect with more visibility just as companies Relevant people. optimize their web sites for search engine visibility.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Read the newspapers. saves you from wasting time on Identify targets who are emitting people who dont want to buy sales signals. what youre selling.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Read the newspapers. saves you from wasting time on Identify targets who are emitting people who dont want to buy sales signals. what youre selling.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Relevance How to grow Relevance in before the social web The social web... the social web Read the newspapers. saves you from wasting time on Identify targets who are emitting people who dont want to buy sales signals. what youre selling.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1© 2011 David Teten. More at ffventure.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Strength before How to grow Strength in the the social web The social web... social web Lots of meals and phone calls. makes people value their online Ongoing social-grooming, e.g., interactions, and the more following back people who costly the better. follow you on twitter.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Strength before How to grow Strength in the the social web The social web... social web Lots of meals and phone calls. makes people value their online Ongoing social-grooming, e.g., interactions, and the more following back people who costly the better. follow you on twitter.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Strength before How to grow Strength in the the social web The social web... social web Lots of meals and phone calls. makes people value their online Ongoing social-grooming, e.g., interactions, and the more following back people who costly the better. follow you on twitter.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1© 2011 David Teten. More at ffventure.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Information How to grow Information in before the social web The social web... the social web Enter all business cards places everyone online so Use CRM system linked to diligently into your Rolodex. you can track them down. social networks.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Information How to grow Information in before the social web The social web... the social web Enter all business cards places everyone online so Use CRM system linked to diligently into your Rolodex. you can track them down. social networks.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Information How to grow Information before the social web The social web... in the social web Enter all business cards puts everyone online so Use CRM system linked to diligently into your Rolodex. you can track them down. social networks.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1© 2011 David Teten. More at ffventure.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Number How to grow Number before the social web The social web... in the social web Meet people superficially. allows easy group-forming Traditional unorganized face-to- around common interests. face relationship building (“networking”) is less important; targeted face-to-face relationship building (“meeting”) is more important.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Number How to grow Number before the social web The social web... in the social web Meet people superficially. allows easy group-forming Traditional unorganized face-to- around common interests. face relationship building (“networking”) is less important; targeted face-to-face relationship building (“meeting”) is more important.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Number How to grow Number before the social web The social web... in the social web Meet people superficially. allows easy group-forming Traditional unorganized face-to- around common interests. face relationship building (“networking”) is less important; targeted face-to-face relationship building (“meeting”) is more important.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity Network Valuation Formula Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity N = D * ∑ (Chn*Con *Rn* Sn*In) n=1© 2011 David Teten. More at ffventure.com and teten.com David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Diversity How to grow Diversity in the before the social web The social web... social web Restricted by time, space, expedites creation of Make yourself visible in multiple and culture. heterogeneous networks, but spheres pertinent to your most people don’t take interests, e.g. a SEO expert advantage of this. who blogs about SEO in various industries.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Diversity How to grow Diversity in the before the social web The social web... social web Restricted by time, space, expedites creation of Make yourself visible in multiple and culture. heterogeneous networks, but spheres pertinent to your most people don’t take interests, e.g. a SEO expert advantage of this. who blogs about SEO in various industries.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Diversity How to grow Diversity in the before the social web The social web... social web Restricted by time, space, expedites creation of Make yourself visible in multiple and culture. heterogeneous networks, but spheres pertinent to your most people don’t take interests, e.g. a SEO expert advantage of this. who blogs about SEO in various industries.© 2011 David Teten. More at ffventure.com and teten.com
Character – Competence – Relevance – Strength – Information – Number – Diversity How to grow Diversity How to grow Diversity in the before the social web The social web... social web Restricted by time, space, and Value of heterogeneous Make yourself visible in multiple human desire for homogeneity. networks increases. spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO in various industries.© 2011 David Teten. More at ffventure.com and teten.com
Step 1: Google Yourself© 2011 David Teten. More at ffventure.com and teten.com
Step 2: Choose the Center of your Online Life© 2011 David Teten. More at ffventure.com and teten.com http://www.flickr.com/photos/pathfinderlinden/157712296/sizes/l/
Step 3: Be a Data Hound http://flickr.com/photos/misterdna/49841409/sizes/l/© 2011 David Teten. More at ffventure.com and teten.com
Step 4: Join the Right Club© 2011 David Teten. More at ffventure.com and teten.com
Step 5: Find People to Meet© 2011 David Teten. More at ffventure.com and teten.com
Any questions ? Slides at teten.com/dating© 2011 David Teten. More at ffventure.com and teten.com