Tap the world's collective wisdom with social media

People ask me all the time, “How do I advertise on social media?” Advertising is part of the equation, but if you go into social media with an advertising mentality, you may set yourself up for failure.

Social media is about relationship building. Developing strong relationships with your customers, clients, referral partners and employees is more important than advertising. Social media also provides innovative solutions and amazing professional development opportunities because it allows you to connect with the collective wisdom of the world.

Napoleon Hill coined the term “Mastermind Group” while interviewing the most successful Americans 100 years ago. The general concept is to bring 10 to 12 like-minded individuals together to brainstorm and create solutions. It is a setting where people feel comfortable in sharing their business vision and challenges.

Some of us already know perfect candidates for our own mastermind groups. There are also excellent organizations here in the Chicago area such as BNI, ABN, DWPN and chambers of commerce that may provide these forums.

Despite all these opportunities, many people don’t always find the ideal candidates for their own mastermind groups locally and sometimes, they prefer not to. Social media can help you create mastermind groups with people you may have never been able to meet until now.

There are two different approaches to creating a successful mastermind group. One is to create a group where every member comes from a different industry to generate unique perspectives. If you belong to a group like this, do you regularly tap into the collective wisdom of the members? Sometimes the knowledge of the group can be more valuable than leads.

The other approach is to create a mastermind group within the same industry. This style of group can be the most difficult to put together, as the only other members are most likely a business owner’s competitors. Usually, the owner can’t just walk across the street and ask a competitor, “Why are you so successful? Can you help me?”

Salespeople are often put in a setting where bonuses are tied to competition. People in this scenario aren’t always willing to help each other. Social media helps find the right people for collaboration and those people are often in another state and thus, not competitors.

Social networking sites like Facebook and Twitter offer amazing opportunities to create virtual mastermind groups. Facebook has recently upgraded their search feature. Use the Facebook search window and type in a word that is relevant to your industry. Until recently, Facebook only found people with that word in their profiles, but now it finds people that mention that word in their updates.

This search tool can help you find like-minded people from other industries as well as your own. A detailed profile helps you find the right people and it helps them find you.

Facebook also has thousands of groups users can join to connect with each other. These groups can be based on actual organizations or they can be groups created exclusively for Facebook. Join them and find innovative people like you.

Twitter also has an advanced search feature. You can find people talking about topics relevant to your business. An excellent tool is Twellow (www.twellow.com), which is a twitter directory. You can find people within this directory based on industry, interests and geography.

You should also list yourself in this directory so the right people can find you. Once you find the right people, no matter where they are in the world, you can collaborate virtually to reach your goals and overcome your challenges.

When I encourage people to share their business challenges, they usually resist. Quite simply, they don’t want to admit their business is struggling. 2009 has been a difficult year for many business owners and entrepreneurs. Many of us are like ducks on a pond: calm on the surface but churning our feet frantically underwater.

If you let your guard down and share your business challenge, you will be amazed at how many people step forward to help you overcome it. They may have recently overcome that challenge or specialize in solving your problem. When you share your challenges with the masses on social media, you can create a mastermind group of thousands.

I use Facebook and Twitter to tap into the collective wisdom of my network all the time. Challenges don’t always have to be major. Every time you have a question, you have a challenge.

I have asked for help finding dependable services, buying the right product and finding good meeting locations. Every time, I found people willing to help. On the other hand, I have found people asking for help with Facebook and Twitter and I was able to help them.

A man in Atlanta posted his four slogan choices on Facebook and people from around the world offered suggestions. A man in New York needed to hire a company to design his logo. He used Facebook and Twitter to offer a prize for a new logo. He quickly received outstanding designs from around the country.

Whether forming mastermind groups or posing questions to the masses, social media may be exactly what you need to reach your goals and overcome your challenges big or small. Remember, no one is as smart as everyone. The collective wisdom of the world is at your fingertips. Tap in.

By Brian Tomkins