Dan Schawbel, Contributor
I recently spoke to Mitch Joel, who is the President of Twist Image, an award-winning Digital Marketing and Communications company. Marketing Magazine dubbed him the “Rock Star of Digital Marketing” and called him, “one of North America’s leading digital visionaries.” His newspaper business column, New Business – Six Pixels of Separation, runs bi-monthly in both The Montreal Gazette and Vancouver Sun and he also has a regular column, Media Hacker, on The Huffington Post. His first book, Six Pixels of Separation, named after his successful blog and podcast is a business and marketing bestseller. His latest book is called Ctrl Alt Delete: Reboot Your Business. Reboot Your Life. Your Future Depends on It.
In this interview, Mitch talks about why businesses need to reboot right now, how big brands and change their business models, and the first steps you need to take to reboot.
Why do you think businesses should reboot right now? What’s changed in the past year to make them do this?
We have seen the business world enter the era of exponential growth. We’re no longer in a world where smartphone penetration grow by ten percent every year and it’s something that we can track. The iPad didn’t exist four years ago. When I started my digital marketing agency, Twist Image, in 2000 we were (and still are) considered very cutting edge in terms of merging marketing and technology. Today, I am hiring people in positions with job titles that didn’t even exist back then in areas of professional excellence that didn’t even exist. Every business is going through this exponential growth through the digitization of industry. If you don’t reboot your business and your career, what do you think the future holds?
How can big brands re-build their business model when they’ve been using it for decades?
This is one of the hardest questions to answer and it’s not something that can be answered in a few off-the-cuff sentences. I’ve written a book about it (and there have been others as well). Every day, I post a 1000-word blog post about this world. The truth is that they have to make a decision as to what kind of company they want to be. In CTRL ALT Delete, I divided companies into two segments. Segment #1 are the perpetual entrepreneurs: those who are envisioning a future for their industry that doesn’t exist. Segment #2 are the ones who had this type of thinking at their beginning and then spend the rest of their time optimizing this one-time innovation. By the looks of things, segment number one is where most business should strive to be, if they’re truly going to rebuild their brands and business models.