Hatch’d: A Idea-based Social Network for Improving Business
Allow me to introduce you to Hatch’d: a recently born social network with a drastically different purpose than the social media we’ve become accustomed to. Instead of supporting interpersonal, social conversation like Twitter and Facebook, Hatch’d was conceived as a way to simply and efficiently share ideas. Hatch’d is a new take on outsourcing that aggregates product development ideas into one location for the creation and improvement of better products and services.
Easily Communicate Your Ideas
Have you ever had an idea that would allow a company to improve their product or service, but you could not find an effective communication channel that allowed you to be heard? For example, emailing customer service always seemed so distant and ineffective; and posting on Facebook, writing on a company’s Wall, or Tweeting at the business seemed just as hopeless. Now, Hatch’d is working to be the location for you to share and businesses to hear ideas.
Hatch’d works much in the same way as Twitter. A user can share an idea in 140 characters and can utilize the familiar @Username to directly target a business. For example, Brad H. shared his idea “@McDonalds serve breakfast all day.” Users can then vote ideas up or down and can comment on ideas to generate discussion. Through these social aspects, business owners can gain better insight into the minds of their customers and the rationale behind their ideas.
Standard social networking features have also been built into the site. For example, visible on a user’s profile page is a portfolio that displays your posted ideas, picture, and short biography. Users also have the ability to follow other users and businesses to track what is being discussed.
Crowdsourcing What Hatchd Will Become
Admittedly, due to how new the service is, the creators of Hatch’d still do not know what exactly the social network could be. On the About section of the site they ask users to “help figure that out” by sharing an idea @Hatchd.
The largest opportunity for Hatch’d and where I predict the service will find the most success, is for businesses to read ideas that will allow them to better serve their customers. Because voices are often lost in the crowd on sites such as Facebook and Twitter, Hatch’d is a promising tool for its narrow, yet distinct purpose as an ‘idea-network.’ Furthermore, due to this purpose, if a business creates an account on Hatch’d users can trust that their opinions are read and considered.
But Not Perfect, Yet
One aspect of Hatch’d that seems to stray from this well-defined intent is Groups. The About section describes this as a place to “brainstorm ideas with your friends. Plan a vacation with college friends or your family! [Hatch’d wants] to make it as easy for you to toss around ideas here as it is for you to do with your friends over lunch or hanging out at your apartment.”
While the ability and support to discuss ideas with your friends is nice to have, it seems more appropriate for Facebook, where interpersonal conversation is the norm, and even more effective “over lunch or hanging out at your apartment.” To me, Hatch’d needs to be about communicating ideas solely with businesses. Discussion with friends, like I previously said, is sort of played out at this point. Trying to be too many things could lead to its downfall.
Hatch’d is still in beta mode, but it seems solid and bug-free. Expect new features and improvements to roll out regularly. Hatch’d is also competing in Advertising Age’s contest for a reward of a $25,000 partnership to work with respected brand marketers to help launch its product.
Check out Hatch’d and start sharing your ideas!
What do you think Hatch’d’s strengths are? Where could it improve?
About the author: August Drilling works in the marketing department at CliqStudios.com, the online supplier of quality oak kitchen cabinetsand is a blogger, social media enthusiast, and Apple aficionado. You can follow him on Twitter @ardrilling and read insight and odd musings.
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Good Business in Bad Times
No doubt times are tough. The consumer is pinched, Wall Street is hurting, bankruptcy and bailouts seem to be the norm. Pretty daunting times for anyone considering starting a business, or any small business owner for that matter. So the question is, are there any good businesses for bad times? And can economic downturns actually be good for small business entrepreneurs?
Are there good businesses?
Well, if you started a business in today’s ecomomic turmoil you’d have something in common with Hewlett Packard, General Electric, and Sun Microsystems all of which were started during economic downturns.
Also, many industries are actually considered “recession proof” so if you’re operating in any of the following capacities, or thinking of starting a business in one of these industries you’re probably going to fair okay
- Medical Services / Health care
- Pharmaceuticals
- Necessities: food/grocery stores/chains
- Cosmetics
- Entertainment
- Home & vehicle repair & maintenance
- Debt collection
- Tax preparation / simplification
- Career/Job search/Life coaching
- Energy
- Security/Alarm services companies
- Vices
Some of those industries lend themselves better than others to small business and entrepreneurs, but there are a lot of possibilities none the less.
Could an economic downturn actually be good for small business?
An argument could be made for…YES! When the economy is down, there could actually be opportunity for the astute small business owner.
The truly successful business owner gets in the habit of seeing opportunity in the face of doom, gloom, and hopelessness!
- Reduction in cost
- Deals with suppliers
- Reduction in rent
- Labor cost reduction
- Provide Value = Get more Sales
- Companies are looking to save, if you can give them the value you’ll get the business
- Greater Pool of Qualified Labor
- You cold be able to hire great people for a fraction of the cost during boom times
- More Bang for your Creative Buck
- If you can offer customers a creative way to save they will appreciate it more than when times are good, and reward you with more business.
This is by no means a comprehensive list, but opportunity is there to make good in a bad time. It takes creativity, networking, a flexible strategy, and ability to expand to fit a market niche, but that should come easy to all of you as business owners and entrepreneurs.
What do you think? Are there opportunities in downturns? Share your ideas in the comments section.
Photo Credit: procsilas









