We asked a Fortune 50 CFO what his thoughts were on Facebook aND SOCIAL MEDIA, Below is his answer... in brief: you're trapped LIKE A LION IN A ZOO. IT'S Hard FOR YOU TO escape YOUR MENTAL CAGE, but you can, and THERE is something even better you can do...
When does a lion know he is trapped in a zoo, as opposed to strolling through it? When he tries to escape it. Prior to the first attempted escape the lion doesn't know he is trapped. Why is he trapped? Because the zoo wants to sell tickets and make money off him.
Much like the lion: how do you know you’re not trapped in the current digital faux-social-media-nightmare we live in, and what can you do to escape it? More importantly, how can you use it to you advantage? If you don't believe you're trapped consider these books, and look at the number of reviews and rating of each. Browse the table of content of each to get a quick feel, we encourage you borrow them from your library.
- Drinking and Dating: P.S. Social Media Is Ruining Romance - how social services are ruining relationships.
- Facehooked: How Facebook Affects Our Emotions, Relationships, and Lives - great material on how you're trapped and how entrapment is affecting your life.
- Trust Me, I'm Lying: Confessions of a Media Manipulator - direct words from your time waster social marketer.
- 500 Social Media Marketing Tips: Essential Advice, Hints and Strategy for Business - garbage tactics like these are why you waste 30 minutes per day on Facebook.
- Give and Take: Why Helping Others Drives Our Success - more focused on how helping others can help you succeed faster, see "Share News..." below.
There also plenty of academic papers that show social media sites waste your time and lead to depression and anxiety. Hello lion.
THE COST OF FACEBOOK
If you live in the US, Facebook is making $50+ off your attention each year. Your friends who have joined social marketing schemes (aka: network marketing) to sell you junk, on average, are making another $10 off your precious time per year. Much like the lion, you’re trapped. Are you trapped in a cage? Yes. Try to escape it, try to unfollow (not unfriend, but unfollow) all your friends on Facebook in a day and you'll notice that Facebook won’t let you. The same goes for other social networks. You can unfollow a few friends so your freedom can be perceived, but you can't unfollow all of them. Social sites like Facebook will claim this is a security feature, we claim its a method of entrapment to push more ads.
Like a zoo, these social services wish to trap you and waste your time - try to escape them and they won't let you. Each day you spend about 30-60 minutes trapped in your cage while others make money off you. If you agree you’re trapped, and you wish to escape to advance your career, follow the instructions below.
DO BETTER, GET ALERTS INSTEAD
This week, unfollow (not unfriend) all your Facebook friends and other social sites and only follow the 5-10 people that matter the most to you. To learn how to do this see the "Actions" section below. Then go to seekingalpha.com and setup stock alerts of all the public companies that compete with yours. Turn your email inbox into your business feed. Each day Seeking Alpha will send you news alerts the second they become public. This is sometimes faster than internal communications at my own company!
Each day spend 30 minutes and read the alerts on your competitors, and you’ll notice trends on how the market interprets and rewards your competitors for each feature or service they add. If you work in a public company you can also see how internal communications are spun up and how the market interprets those same events externally. We call this "internal propaganda vs. external reality."
If you work in a public US company, on finviz.com you can also see the millions of dollars worth of stock that your company’s executives buy and sell each day - this is fascinating information compared to the junk Facebook feeds you. For example, see Amazon's stock AMZN “Insider Trading” section here:
Within a few weeks you'll be able to understand how new services, features, concepts, patents, ideas, among others - are rewarded in your industry by the market. Soon, ideas you share with your boss and managers will be more realistic in their eyes because these will be conceptualized under the lens and optics of the market. Your managers do the same, any idea you pitch them, they try to envision the reward your idea will generate when it hits the market. If you have market data to project the expected reward your ideas will generate, then your ideas will be more worthwhile.
So while your colleagues watch dancing unicorns farting rainbows on Facebook you will gain deeper insights to impress the executives at your company and develop your keen sense of industry trends and movements.
SHARE NEWS WITH YOUR MANAGERS AND PEERS
There is nothing juicier than to share with your peers and managers the news that affect your industry and company. Financial market alerts (i.e.: seekingalpha.com) will send you email alerts usually within the hour when news break out. Via such stock alerts, you can become the center of the news in your workplace, and when that happens others will share news with you too. Soon, you will be the news hub of your group and will have the inside scoop on all the conversations that are going on.
Now, that you’ve left your cage of useless Facebook videos and junk-inspirational articles that only self-promote the authors, and have entered the real jungle - it’s your turn to roam your organization and see what opportunities abound.
- Unfollow everyone on your Facebook and follow back 5-10 people only. This will greatly reduce the junk that appears on your Facebook feed.
- Go to seekingalpha.com and setup alerts for all the stocks of your competitors, and your own company if its public. That is, search a company stock and click on the orange "Get Alerts" button.
- On finviz.com search the stock of your competitors and familiarize yourself with the news and "Insider Trading" activities. Create a new bookmark folder on your browser called "Daily Check" and open all bookmarks each morning.