Social Media & CPAs NYSSCPA

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Social Media - Passing Fad or Valuable Tool - Update for NYSSCPA Higher Education Conference on March 25, 2011.

Using case studies from CPAs using social media, MACPA's experience with three major benefits - communication, marketing, and learning. Also featuring our groundbreaking work in Second Life with the AICPA Tech + Conference adn XBRL International

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  • Let’s start with CPAs.The Maryland Association of CPAs started building CPA Island in late 2007. My boss, Tom Hood, had started hearing a lot of buzz about virtual worlds and Second Life in particular, and one of our members had built a virtual presence for his firm in Second Life – and had found some real-world business as a result. That, to us, was like the holy grail.So we decided we wanted to build the first virtual space dedicated to the profession. We wanted to have a virtual home where all CPAs could go to explore virtual worlds and find out what they had to offer.We built two islands in Second Life, and we focused quite heavily on networking. We wanted these spaces to be places where CPAs could come and interact with one another without having to travel long distances to do so.These are just a few of the structures we built on the islands.
  • Maybe one of the most concrete examples of the power of virtual education came during the 2009 AICPA Tech-Plus Conference.So let me set the stage for you. We had a live group of attendees in Las Vegas. We had a group of presenters in Baltimore. And we had presenters from all over the country, all joining us virtually on CPA Island in Second Life. And anyone who joined us in this virtual space had the opportunity to hear from the likes of Phillip Rosedale, founder of Linden Labs and Second Life, and these folks as well. Let’s take a listen. Here’s actual video footage of the virtual event.
  • Association 2.0 is an operating model that allows associations to respond rapidly to market and member needs. This does not mean that we abandon our current members or our mission. It is a philosophy of rapid change, flexible organization structures, new Web 2.0 tools, and member participation that will put our associations in a much stronger position, ready to efficiently and effectively meet the needs of a larger population.”Adapted from Michael Casey, LibraryCrunch.com blogGwinnett County PL
  • Social Media & CPAs NYSSCPA

    1. CPAs & Social Media – Passing Fad or Valuable Tool 2011 NYSSCPA Higher Ed Conference New York, NY March 25, 2011 Tom Hood, CPA.CITP CEO Business Learning Institute Maryland Association of CPAs
    2. Will the pace of change increase or decrease? Will complexity increase or decrease?Welcome to the New Normal
    3. “As it relates to science and technology, the rate of change in the next decade, is likely to be 4 to7 times faster than in the last decade. If it is 4x faster it would be like planning for 2010 in 1890, if it is 7x fasterit would be like planning for 2010 in 1670.” -Expert on Education Panel, The Aspen Institute
    4. We feel overwhelmed by a big wave of changes The 5 C’s• Competition• Compliance• Convergence• Change• Complexity
    5. Three Drivers of Change WEB 2.0 THE NET GENERATI ON Wikinomics - The New Economic Order Inspired by Don Tapscott
    6. Turbulent times require new skills and new ways of thinking“You can’t stop the waves, but you can learn to surf” - Jon Kabat-Zinn Photo: Pratt’s surfing page
    7. Meet your future employees? “over 64% of students in grades K-12 play online and/or electronics based games regularly” “Downloading music is #1 activity by middle and high school students”“40% of middle school students and 67% of high school students have a personal website (Facebook, MySpace, Xanga)” Source: Project Tomorrow – Speak Up 2007 report
    8. Generation Gap? Or Generation Lap? One third (35%) of American adult internet users have a Generations profile on an online social network site, four times as many as three years ago, but still much lower than the 65% of online American teens who use social networks “In 1997, young people for the first time were recognized by adults as being authorities on something truly revolutionary – digital technology, interactive media, and collaboration.” – Don Tapscott “Growing Up Digital”
    9. Eight Net Gen Norms1. Freedom – The freedom to work when and where you want2. Customization – My job my life3. Scrutiny – I know what you did last night4. Integrity – Be a good company to work for5. Collaboration – Teamwork6. Entertainment – Work should be fun7. Speed – Let’s make things happen now!8. Innovation – Let me invent
    10. To be a guild master in a game like World ofWarcraft, you need to be able to create a vision, find recruits and give them a platform on which tolearn, and orchestrate the groups strategy. To me, it sounds a lot like the skills a corporate executive
    11. Why we are here...
    12. Fear? What if informal & social learningcould be the key to success in this new normal?
    13. The challenge is how to position our organizations for L > C “To keep pace in your industry, let alone as aleader, requires your rate L>C of LEARNING to be greater than, or equalto, the rate of CHANGE.”
    14. Learning 2.0 Tools
    15. The New Math Social Networking (Old)+ Social Media (New)= A change in the way we build relationshipsSource: Matt Goddard, CEO R2integrated
    16. Social Media supplements & extends the Social Network
    17. Old School vs. New SchoolChamber of Commerce Class Reunions Friends and Family E-mail Industry Meetings Newsletters
    18. It’s about the Network Effect Metcalf’s Law "states that the economic value of a network increases like the square of the number of its nodes, or the law of increasing returns. Usually, when people share a piece of equipment, the return diminishes. When more people are engaged in the network, more value is returned to the user."
    19. Get found – Digital Footprints
    20. Marketing Strategy 2.0 Website e-mail Twitter newsletters Social Blog Networks Source: MACPA & Business Learning Institute
    21. James Carroll, CPAWebsite Facebook Twitter
    22. How one small firm got on the WSJ? “I think today demonstrated the valueof the social networks (Facebook, Twitter, etc.) and their ability to spreadthe word. Encouraging others to read our materials and help us with our mission to Bury the Billable Hour” - Dan Morris, CPA from Verasage BlogWebsite Blog Twitter
    23. Time to pay attention?
    24. Bill TomMACPA’s Journey
    25. MACPA’s Social Media Map45,000 views 900+ connections 450 connections43,000 views 2,943 followers 450 members Top Accounting Blogs Top 75 Business Blogs - 2010 34
    26. Our journey started with blogging
    27. Social Media connects us to thought leaders
    28. Learning 2.0The connected learner
    29. AICPA Leadership Academy
    30. Social Media Engages & Shares Insights 35
    31. Social Media can take notes! 36
    32. The learning continues by using social media tools to connect the learners
    33. Using a blog to support continuousinformal learning - AICPA EDMAX www.bizlearningblog.com
    34. Comments on BizLearningBlog include a participant and author of book Jane Bozarth - author
    35. Twitter during the event, slideshare & blog post-event
    36. Building “Real” Relationships
    37. Blogs supporting training www.cpaisland.com www.slacpa.org
    38. Communication
    39. Accounting Education Pavilion
    40. 2009 AICPA Tech-Plus ConferenceVideo: “CPAs in Second Life at the AICPA Tech + Conference,” from the Maryland Association of CPAs: bit.ly/AICPATechPlus
    41. We learned that social media can be a valuable leadership tool Web 2.0 Association 2.0Leadership 2.0
    42. The world is changing From: To:• Hierarchy • Network• Command & Control • Connect & Collaborate• Experience Curve • Collaboration Curve• Lecturer • Facilitator• Push • Pull
    43. Next Steps - It’s all about you!1. Create a digital footprint2. Start listening3. Make friends4. Create & Share5. Recognize & Reciprocate
    44. CPA Learning 2.0 – The first self-directed learning tool for CPAs• Got Permission from http://www.cpalearning2.comHelen Blowers atLibrary Association toborrow with attribution- Bill Sheridan & Tom Hood worked on exercises and used blog to support self- directed learning- Oct, 2007 Staff volunteered to “do it”- Feb, 2008 Staff completed (95% participation)- Opened up to the world
    45. Top Ten Learning Technologies 1. Twitter – micro-updating tool 2. YouTube – video hosting and sharing tool 3. GoogleDocs – online collaboration tool 4. Delicious – social bookmarking tool 5. Slideshare – presentation hosting and sharing tool 6. Skype – instant messaging and VoIP call tool 7. Google Reader – RSS feed reader 8. Wordpress – blogging tool 9. Facebook – social networking site10. Moodle – course management system Source: www.C4LPT.co.uk
    46. It is really about peopleLearning + Leadership x New Tools > C
    47. The Leader’s job is... To provide hope & inspiration and tomake your follower’s feel stronger and more capable
    48. Tom Hood, CPA.CITP CEO Business Learning Institute Maryland Association of CPAs http://www.bizlearning,net (800) 888-481-3500 tom@bizlearning.net Follow me on: Twitter: http://www.Twitter.com/tomhood LinkedIn: http://www.linkedin.com/in/tomhood Facebook: http://www.facebook.com/thoodcpa Plaxo: http://tomhood.myplaxo.com Slideshare: http://www.slideshare.net/thoodcpa Youtube: http://www.youtube.com/thoodcpa Second Life avatar name: Rocky Maddaloni

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