Another of my favorite examples of relationship building shows that results can happen quite fast.  A client had an issue with some products being imported into the United States from China.  The issue centered around whether the seller of the products paid a certain license fee.  The licensor had a reputation for being very aggressive in these cases, usually requiring immediate destruction of the allegedly infringing goods.  Fearing a multi-million dollar loss and knowing that the products were in fact licensed, my client immediately traveled to the port.  While in the coffee shop, my client struck up a conversation with the person sitting next to him.  After chatting for a while, they both left and coincidentally walked to the same building.  My client happen to ask if this person knew the customs official he was looking for and my client’s new friend said absolutely.  Unknowingly, my client had just befriended one of the most senior customs officials at the port.  That short relationship building exercise in the coffee shop allowed my client to quickly work with the right people to clarify the error and get the products released.

Building relationships can happen in various environments and through different formats — in person, networking, online and in other ways.  Ethos Business Law client, LoopDesk, has developed a useful and innovative online business-to-business networking tool that allows companies to build relationships in a way that many other social media sites do not.  If you are interested, you can click here to learn more about LoopDesk and take advantage of an advertising special they are offering.

Whether you build relationships through personal networking, online networking, social media or through other ways, building relationships is a lifelong process that will build and evolve you brand.  Start building and maintaining relationships today and they will be very valuable in your future business dealings.

Russell Herder and Ethos Business Law conducted a groundbreaking study with C-suite executives regarding corporate use of social media, as well as on the need for internal policies and training. The firms were contacted last month for permission to share key findings at the global event in a session entitled “The Growing Influence of Social Networks,” which featured the CEOs of LinkedIn, MySpace, Ning and Twitter, among others.

“Corporations need to recognize that the social Web has the potential to become a new mode of production and the new “operating system” of a business,” the Forum reported. “But companies face a crisis of leadership. Too many companies are reticent about incorporating social media into either the organization’s internal process or its customer strategy, viewing social networks instead as a threat to employee productivity, or a source of transparency for which some organizations feel unready.”

Russell Herder and Ethos Business Law have participated in numerous speaking engagements since the original research was released a few months ago. A free copy of the research white paper is available at here.

According to the New York Times, “the move suggests that the government is intent on bringing to bear on the Internet the same sorts of regulations that have governed other forms of media, like television or print.”  The FTC argues that they were “looking and seeing the significance of social media marketing in the 21st century and thought it was time to explain the principles of transparency and truth in advertising and apply them to social media marketing. Which isn’t to say that we saw a huge problem out there that was imperative to address.”

The question this raises in my mind is where this leads.  Does this begin an onslaught of regulation into the use of social media.  Does this invite further regulation as to what a person can include on his or her Facebook page.  How do you properly disclose potential issues in a 140 character Tweet?  While this regulation in isolation may not be extremely significant or onerous, it definitely signals a future of regulation in the social media world.

Let me know what you think.

Social media is one of the hottest topics today, with the pros and cons of its use being debated in board rooms nationwide. In light of recent restrictions on employees’ social media use (ESPN, Marine Corps, NFL), companies are discussing whether, how and to what degree they should restrict or encourage their employees to use social networking tools. This webinar will offer insight into business leaders’ views and perceptions on this issue and will provide actionable recommendations and advice on the development of social media policies and employee training sessions.

Led by Carol Russell, CEO of Russell Herder, and David Baer, president of Ethos Business Law and one of Minnesota Lawyer publication’s Attorneys of the Year, the webinar will also highlight the insights gleaned from the recent national study conducted by the two firms on social media trends in the workplace and policy adoption.

Sign up for this free webinar here.

In advance of the webinar, we invite you to submit questions and suggestions for topics to be covered in the presentation under Comments.

Recent research conducted with Russell Herder found eight in 10 businesses have concerns about the potential liabilities of social media. Yet, only one-third have a policy in place to govern social media use, and just 10 percent said they have conducted relevant employee training.

Instead of ignoring the need for responsible guidelines, organizations of all sizes should begin to define their strategy regarding social media, and most importantly, the rules for employee engagement. By doing so, management can take advantage of the benefits offered by these new communication channels while mitigating undue risk.  But remember, social media is a far different animal than traditional technology. A company’s current policies on IT matters are usually not sufficient.

All companies are different, thus the rules for creating and implementing a social media policy are not universal. They must take the form, substance, philosophy and culture of the organization to which they apply. However, the following are some important elements to include in a good social media policy:

• Overall Philosophy. An effective social media policy should define the company’s overall philosophy on social media and be consistent with its culture.  For example, does the company have a supportive, open philosophy on the use of social media or a stronger, more limited embrace of this technology?
• Honesty and Respect. One of the most important aspects of a policy is a requirement that employees be open, honest, respectful and transparent in their usage of social media – especially in the business context.
• Focus on Job Performance. There is a lot of discussion on whether social media hurts worker productivity.  For example, is it acceptable for an employee to post on a personal blog during their lunch break?  Or, can an employee tweet on business-related topics during the work day? Remember, the new work force does not live in an eight-to-five world. The focus should be on job performance instead of “company time”.
• Avoid Conflicts of Interest. Conflicts of interests come in many forms – especially when engaging in social media.  The policy should discuss how to identify potential conflicts of interest, what types of conflicts are prohibited and who to talk to when in doubt.
• Include a Disclaimer. Employees should make it clear that their views about work-related matters do not represent the views of their employer or any other person.  The policy should require a disclaimer, such as the following, when there is the possibility for confusion between business and personal identity:  The views expressed on this blog are mine alone and do not represent the views of my employer or any other person.

While this list is not exhaustive, it serves as a starting point to develop a strategy and policy around social media that can serve to protect corporate interests, yet allow employees to further an organization’s overall social media goals.

To download complete research findings and full list of tips for developing social media policies and employee training, find it here.

Recent research conducted with Russell Herder confirms that confidence exists in social networking as viable communication outreach, but so do worries about the potential liabilities involved. Concerns regarding social media use were acknowledged by some eight in 10 businesses participating in the national study, which was conducted over the month of July.  Fifty-one percent fear social media could be detrimental to employee productivity, while almost half (49%) assert that using social media could damage company reputation.

Despite these apprehensions, social networking is being viewed as a key strategy. According to survey results, eight in 10 senior management, human resource and marketing executives believe social media can enhance relationships with customers/clients and build brand reputation. Almost 70 percent feel such networking can be valuable in recruitment, as a customer service tool (64%) and used to enhance employee morale (46%). The most popular vehicles being used include:

Much of senior management’s direct experience with social media appears to be reactive versus proactive, an interesting fact given the confidence they express in these new mediums. The majority (74%) of executives surveyed said that they, personally, visit social media sites at least weekly to read what customers may be saying about their company, and routinely monitor competitors’ use of social networking. One in three search social media sites to see what their employees are sharing; or check the background of a prospective employee (25%).

Social media has delivered incredible potential to build relationships, increase organizational effectiveness and grow brands, but its use is clearly raising questions in the board room. Should employees be encouraged to use social networking to enhance marketing outreach? Or will such activity impede productivity in an already tight economy? And what about reputational risk?

Rather than bypass the social media opportunity, organizations should embrace it while taking steps to educate their team about internal guidelines and best practices.

Yet, remarkably few efforts are being made to mitigate the risks. Only one in three businesses surveyed by Russell Herder and Ethos Business Law have a policy in place to govern social media use, and only 10 percent said they have conducted relevant employee training. Why? One of the main reasons, according to respondents, is uncertainty about what to include in such policies.

So what should be included in a good social media policy? Be sure to read about the key elements in our upcoming blog post.

How does your organization handle social media? What do you do to mitigate the risks? We’d love to hear about your experience, so be sure to leave your comments.