There is a mad rush towards online social networking space. Every second person wants to get on the bandwagon with his own social networking website with a silly-sounding name. In my opinion, most of these sites are just a fad and are not built on strong fundamentals in terms of a) revenue sources and b) the problem they solve.

What is online networking, btw?

The purpose of a social networking website is to help you keep in touch with your existing contacts and to generate more contacts! In case of social networking, the contacts are friends or prospective friends, whereas In case of business networking, the contacts are business associates or prospective business associates.

Now, answer this question - How much time and money are you willing you spend to keep in touch with your: a) friends and b) business associates. It is important to know this fact. Online market may be different, but it is closely related to offline consumer behaviour. Online business model can help in extending the product composition with new innovation and format of delivery. It is important to know if people are willing to pay for a given convinience. And if they are not willing to pay for the convinience, what alternate source of revenue do we have?

So how do you keep in touch with your friends?

In real life, you spend nothing to keep in touch with your friends. You call them up when you want to hang out with them, you give them a shout on their mobile phones or drop in to kill some time! If you are tech-savvy and love to announce a great news, you send them emails. Why will you like to send a scrap to someone (when you can simply send a short email or catch up on various instant messengers)? And why will you like to create such huge volume of personal content and share with millions of people on the Internet who are not even known to me.

Though you may have build friendship /relationship on social networking websites, they are generally not for long. And the long ones actually use the social networking as only the contact point and then evolves and flourishes offline.

What about business associates?

However, business networking sites will keep evolving, since it adds value to businesses. It help people refer / recommend a vendor or buyer to other people in a networked environment as a recommendation network. It has been very successful, when it comes to executive search and generating new business.

Again, the formal nature of relationship and privicy factor makes business networking websites a great place to get connected and exchange notes.

So, the conclusion is:

So, as on today, given the trend, I can say that social networking is a fad, which is getting saturated and is not supported by a proper revenue model. Online advertising cannot be considered a decent revenue model for a site where people come to kill time! However business networking is here to stay. Corporate intranets having social communities may stay. 

I have already written the orbituary of Facebook, My Space, Bebo and social networking platforms. These are evolving as a fad and will vapourize in the same way in years to come. I wish these trillion dollar valuations to be true, but my mind says otherwise. And I am not the only person saying this. Steve Rubel of Micro Persuation feels the same way to a great extent (may be for different reasons).

What do you think? 

I came across this rocking website called EasyBM (www.easybm.com), a FREE online service, which can help you in boosting your online productivity to new levels. I generally do not get excited about something so quickly. My exposure to new ideas and business plans make me immune to general ideas. But I got excited by the simplicity of the idea and how it can make life simpler for everyone.

Enough of social bookmarks, lets get personal!

This is a personal bookmarking website which gives you a 1-click access to your favorite websites, thus acting as your portal to Internet in the true sense. (If you don’t believe me, check out the definition of portal). When you note a site URL on your private bookmarks page, only you can to access that shortcut. Your favorite sites appear on a password protected page and a result, only you (or someone you allow access to) can see which sites you have bookmarked. So these bookmarks become your personal bookmarks!

Social bookmarking is a great way to find and recommend interesting sites. But let us face the fact - You don’t want to share all the information with everyone out there on the web. Let us consider some scenarios:

• Access your Internet banking account
• Research about a top-secret project which you cannot share with anyone
• A valuable list of resources which you only want to share with *yourself* which helps you to be more effective in your job that your competitor

I am sure you will not like to share these website links with everyone out there! But, you do access them everyday - every time. So what do you do? The answer is simple - Personal Bookmarking.

Don’t we have personal bookmarking in our browsers?

Now, you might think - Every web browser has personal bookmarking feature built in - then why do I need a service like EasyBM. Let me tell you - you still do need them for these simple reasons:

• Your personal bookmarks are not available to you when you are not accessing Internet from your regular PC
• You may lose those bookmarks when your PC catches virus
• You cannot open "first bunch of sites" with 1-click. With EasyBM, you can!
• You cannot make an organization-wide internal bookmarking system to collect knowledge at a central place using your browser bookmarks

And above all, you still need to click on "Favorites" and scroll down to the right site and click on that when you use a browser bookmark. So it is good for things that you do not need every-now-and-then! But EasyBM (once set as your homepage) opens with those selected bookmarks every time you open a new browser and is simply a click away!

I wish easyBM all the best and I am sure this nice little idea can make positive change to the way people use Internet.

P.S.: BTW, this is not a paid review. I don’t do them. I only write about something when I really like it.

Proper project management is key to a successful project. To manage multiple projects and teams which are geographically spread across the globe, you need a quality project management tool.

As a medium sized web development company, we looked around for some quality software which suits our requirement and does not burn a hole in the pocket. Here is our pick!

Basecamp HQ:- A nice, minimalist simple to use software true to the philosophy of 37signals, the company which built it. This software is only available in a SaS (software as service) model. IMO this software best suits small projects which are communication centric. It lacks version control, task management, project tracking along with cost-benefit analysis.

Overall, very easy to easy and adapt, but reporting is not up to the mark. If you are a small business and you do most of your project management yourself, this can be a good choice for you.

Intervals:- It seems to have picked up the baton where Basecamp HQ has left. It also works on a SaS (software as service) model. It has more features (specially in terms of reporting and role management) than Basecamp HQ, thus making it suitable to manage complex projects across a large organization.

Overall, it is a good attempt to overcome the shortcomings of Basecamp HQ. However it needs to improve on its usability. It also needs to provide staged progression in terms of features and complexity so that small businesses can adapt the system. I am sure that this software will become popular as they keep improving and become old. For a SaS model company, time-tested reliability is more important than anything else.

Ace Project:- A comprehensive project management software with user friendly interface and short learning curve. It has different licensing policies and therefore you can rent or buy off (with our without source code) the software to suit your organizational needs. This software is around for quite some time and therefore seems to be reliable.

It has decent reporting capabilities, but not as good as what Intervals claim to have!

Dot Project:- The best free open source project management software that I have come across. This software looks flexible and extendable. You can plug in various modules, including Mantis (for bug tracking). The usability and reporting leaves much to be desired. So if you are looking at free project management software with access to source code, Dot Project is a good choice.

Conclusion:

There is nothing called a perfect project management software. The usage, the users and the desired result determines the one which suits best for a given organization. So take your pick from the above mentioned toolset.

IMHO, online candidate search is a great service. I currently use two such websites and shell out almost $5000 per annum for the same. I always do a solid cost / benefit analysis and I have found that I am saving almost $15-$20K on my recruitment cost alone.

We manage to find decent candidates. However there are few limitations that you must keep in mind:

1) Candidates you get through online database search are more prone to attrition compared to those who are through a consultant. This happens because they have an active profile online and they continue to get offers from various companies.

2) You will get quality resumes for people with experience range of 0-8 years. People who are more qualified or experienced and hold important position in companies generally do not post their resumes to such sites.

3) Verification / validation of employees who come through these sites need to be done rigorously at your end. Like every online transaction, there is a probability of fraud in terms of forged resumes.

BTW, I found a very nice concept. Please check out www.yellojobs.com/ to see the new model of personal reference network for hiring. Its a mix between sites like linkedin.com and pure resume database sites like monster.com and naukri.com.

Abhishek

I recently read Ed Kohler’s comment where he has ranked the importance of various "Google Apps" programs in the following order:

1. Docs
2. Presentation
3. Spreadsheet

However, I beg to differ.

In my personal experience I have found spreadsheet to be most used online collaborative tool of the entire office suite.

An online spreadsheet can be used in hundreds of ways for different purpose and help you collaborate much better for several reasons:

1. Spreadsheets keep data in a more organized way which can be further imported / exported as a comma delimited file and also imported / exported from a third party database

2. Some common usage can be sales tracking, basic level project tracking, bug management, issue tracking, any collaborative data gathering, managing petty accounts, etc. The list is endless. You cannot do all this using word processor or presentation tools online.

3. Every spreadsheet has several sheets, which enables various versions of inputs to be gathered from different sources, all put together in one place with a very easy-to-shuffle mechanism.

May be my opinion is based on the way I use Google Apps!
What is your opinion?

Abhishek

I think online networking is the best thing that has happened on Internet in last few years. I see several benefits of networking and spending time to meet new people and build professional and personal relationships.

• You can make new friends in new places.
• Someone might be of great help to you in a given situation. You never know.
• If someone cannot help, they might know someone who can help. They can simply connect you to the right person.
• You might get references for business and professional engagements if you can build a trust relationship and prove your expertise. We all know that word-of-mouth publicity is the best advertising. It is most influential and cost almost nothing. Most of the times networking is the only way to reach a particular person to discuss a proposal.
• You can get feedback on your idea, plan or work from different people with different point of views.
• You learn by sharing knowledge and experience. This can be done on a 1-2-1 basis or in a knowledge forum where people with same interest can discuss on a given topic.
• You can create mastermind groups where members discuss individual problems and help each other achieve their goals.
• You can help others. It is a great feeling to be of help to others. It makes you feel purposeful.

I have seen several online social networking websites. The ones which I liked the most are:

• Ecademy (No doubt the best business social networking website on Internet)
• LinkedIn (A great fan following and very good selection of people to connect to)
• Facebook (Looks like a decent social networking website - I really do not have much experience on this platform to make a firm comment)

BTW, I keep traveling between Kolkata, Chennai and London for business and will love to meet people who feel that I can be of help to them. Please write me a small note with your area of interest and I will get back to you.

May you have a million connections!

Abhishek

Recently I was trying to make a payment for a company purchase online using my MasterCard. Inspite of having a positive balance the transaction did not get through. I tried my sisters card (which again is a MasterCard) and it still wont go through.

Then one of my collegue volunteered to help me by trying his card.

It worked!

I asked him which card did you used - He said Visa.

I felt the "Visa Power". I also realized that "Something money cant buy. For that you have MasterCard"

Abhishek