Ending 2009
It has been quite an interesting and eventful year to gain business experience. From launching the Loopthing Social Business Network in April we have had a busy 8 months full of increased challenges and demands, with invaluable experience for a young team, wrap this up in a global economic recession and the years teachings will take a bit of beating.
From my own perspective I have knocked down a lot of youthful mind barriers that might have restricted thinking on wider international business levels. Being based in London and having undertaken an Asian research trip during July have both added greatly to my vision on international growth. The Tokyoites in particular were very interesting to analyse in business practice and some great meetings shaped my thinking on undertaking business expansion in the region.
From an Irish perspective the year has done more to shape my national political and business views than at any other time in my life. Identifying those deploying sustainable business practices was very evident, as were the unsustainable who enjoyed the economic ride.
The political environment has become so stale that an immediate general election would even do little to revive it. It has become clear that expertise and experience is lacking in many government departments and serious constitutional changes will have to be looked into in rectifying this problem. The ability of the National Parliament (Oireachtas - President, Dáil Éireann and Seanad Éireann) to effectively and efficiently run the country has been called into question. Those with the desire to represent their local constituencies cannot be accused of a lack of patriotism or thirst for public life. However, the experience and education they possess for crucial ministerial positions must be assessed. If the required experience and education is not evident then the country must look to qualified alternative Irish citizens to hold ministerial positions, having not been elected but still being held responsible to Dáil Éireann (Constitution of Ireland 7.1 pg 38). So is debating the Irish consitution a possibility, and is it odds on to take a decade to provide any results.
The UK bears a very similar stale political position, but I believe the forecast early 2010 election will do much more to spur debate and interest in guiding their economy forward than in Ireland. Contrasting the differences between the two countries is now a constant exercise. Worryingly my contrasts are mostly negative from an Irish perspective. However I am keen to suggest solutions and not just focus on identifying problems.
On ending 2009, this isn't a case of sitting back and seeing what 2010 will bring us, we need to take decisive action immediately. In fairness the December budget was a step in the right track but only tackles Ireland's current problems and will need much more strategic public sector cuts and private sector initiatives. A general election in my view is badly needed, not just to change government, but to give local arenas the ability to analyse who in their community is actually capable of representing their current interests.
But let's wait until tomorrow morning, or how about 2012, my god!
Happy New Year All
The Week in Review
This week has been very interesting. After deciding to really focus on London as a market for Loopthing, I was left contemplating different avenues to achieve this. After a quick meeting in the west end I had one of my answers.
We will now be undertaking a video podcast series based on the business community in London. This will then feature as a regular series on the Loopthing Youtube channel.
The objective is to create a buzz in the English capital about business providing content to their customers through the web. Although the script for the series will not directly advertise the Loopthing network itself, the content will communicate what we are trying to achieve through the network. More info to follow.
Got a readership card for the British library as well. Such a creative and inspirational place to work. This week was global entrepreneurship week 2009 in the Business & IP centre. This place is a must if you're in London and want to get some research done.
OpenScore Progress
So just over a week after releasing the OpenScore application, how are things going?
Well, we've been studying the output data intensively in order to ensure our premium analysis tools are as accurate and beneficial as possible. We've started to see some nice variation in the static and dynamic score for those businesses that have verified their third party account details. We posted a blog providing an overview of the static and dynamic score for those interested.
We have identified what we believe is a suitable format for the basic advice centre, that will allow users starting out, to initiate their third party accounts and begin the process of analysing and improving their overall web presence.
Next step is the detailed support centre that will provide the deepest analysis we can provide on all the feeds contributing to the OpenScore. This is where we will put everything out on the table. There will be no secrecy around our analysis, so whatever we see you see. Our focus is to collect and display the data as reliable as possible with all the cards on the table.
Milestone Reached
The official launch of Loopthing and the release of the OpenScore application went well. The live webcast was an interesting format to do and myself and Vlad found it worked a treat, so much so that it will probably become a monthly briefing tool for Loopthing's members and our wider audience. We used a platform provided by SharedVisions soon to be operating from meeting.ie, thanks Roland it worked really well.
For those of you that missed our launch webcast, you can check it out on the Loopthing Youtube channel.
We are now producing a shorter more concise video demo of the OpenScore application which should be live soon.
Development Progress
After a huge push last week, we are getting to the final stages of development before our official launch on the 27th of October. Most of the work we are doing at the moment revolves around the creation of our first business support module. It's pretty intensive stuff, but the result will provide an excellent tool for businesses that are serious about their web presence.
I can now state that the name of Loopthing's first business module is "Open Score"
As for the specifics to the exact functionality of this business tool, everyone will have to wait until the 27th and check it out for themselves. At which point we will be happy to address any questions people may have.
In other developments, we are bouncing ideas around for the redesign of the Loopthing landing page. We’ve got some great ideas for the new layout and we look forward to implementing the design in the coming weeks.
Loopthing Launch Update
Bit by bit everything is coming together for the Loopthing official launch on the 27th of October.
Earlier this week we enabled Loopthing support for Youtube, Vimeo, Viddler and Flickr. We are also working on implementing other popular third party online media platforms that are utilised for business use.
Together this all forms part of the overall Loopthing development plan and provides the key elements behind our first business support module.
A further release will be made on this towards the end of week
Loopthing Seed Funding Round
This week saw the launch of the Loopthing seedcapital funding round. We thought this would be a good time to begin sourcing some inward investment given the network's stable base and suitable platform for growth.
It can be a difficult decision to make, as to when to time the injection of third party capital into an early stage company. Given revenue streams are more often than not planned rather than proven, the project must have a convincing revenue growth and development strategy to warrant suitable equity interest from prospective early stage investors.
We think we are timing it right, as we prepare for our official launch next month and the release of the first Loopthing business application. More details to come on that at a later date. If fact I may actually reveal some elements of the new business application at Business Camp in Limerick, Ireland on the 11th October. As for the official launch of Loopthing we are planning a live web broadcast for the end of October, so we'll be run off our feet to get everything ready, but isn't that what makes life worth living.
Getting off the ground
Since soft launching Loopthing in April 2009, we've been through 5 months of intensive development, testing and improvements. Although the task list is never ending, we are now getting to the stage where our true business model can start to emerge.
We are planning our official launch for October 20th, at which point Loopthing will reveal its first business support application. We are very excited about this app and the benefits it will provide to the wider business community, and as such we will be remaining very tight lipped until then. The launch will include a live web broadcast and presentation of the latest network features, and we will remain online to field any questions. More info to come in the coming weeks.
