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GETTING TO KNOW ECHO.IT

Emphasize the desired actions and
reach your desired business results with a
purpose-driven ESN
Agenda
Sorry if you thought I would show a bunch of pretty pictures. I am
afraid we are past that point.
I would love to show you our product – but it is so amazing and
we spend too much time building it for me to pretend it is only
worth two minutes of your time.

I will tell you who I am, where we live, why we build what we
have build, what we build, and how it is going…

And just for you, I will tell you how the story has
progressed, some further reading tips, and end it with why it
rocks to be an entrepreneur
Who am I?

Echo.it, CEO & Co-founder
•
B.Sc Bus Adm., & Philosophy & M.Sc Finance &
Strategic Management

I also love
tattoos, punk rock
and Millwall FC

–
–
–
–

•
•
•
•

Top 10%
CBS
Recommended by both CBS and KU president
Several other courses, including INSEAD

Winner of several international case competitions
Active in student union
Active in entrepreneurship networks
Professional carrier includes startups, operational PE, research and Government
•
Loves to nerd economics and politics
Stefan@echo.it / +45 5150 3663
FAMOUS FOR THE THREE RULES
INVITE ONLY
ALL WEB AND MOBILE
ONLY SCALABLE BUSINESS
Made by entrepreneurs
Why echo.it?

How do you take
strategy from
armchair buzzwords
to daily operations?
How can I help
manage companies
where I know little or
nothing about how
the value is created?
Strategyimplementation: Moving an
organisation from A to B
B

Results

= performance

= actions

B

Decision

A

Actions

Top management fails to get
strategy communicated =
Organizational standstill and
eventual new top management

Top management formulates KPIs
for middle management but
provides no other tools =
Organizational dissonance and
infighting

The organization manages to
translate strategy into actions!

That was pretty basic business school stuff, huh?
Well, if is so basic, how come:
• 40% of strategy implementations fails due to lack of implementation tools? Despite the top 3 ways to
engage employees according to CEOs is ethics and values, cooperation tools and a clear purpose?
• Only 27% of executives believe their employees are inspired by their company…
• … and worst still only 4 percent of the employees agree
Despite the fact that
Engaged employees contribute: +19% operating income, +29% Earnings per share and +14% income
growth and in another study grow the stock price 901% over a ten year period in value-oriented
organizations?
You need to empower employees to share daily actions and relate them strategy
Source: Deterding, McKinsey, IBM, CEO C-Suite Studies: Leading Through Connections, Boston Research Group, Journal of Organizational Excellence
The company as a nexus of stories:
What is your strategy story?
How do you tap into and align the story resource?
Make them action-based:
… Purpose-driven

They are about
• coworkers,
• customers
• Suppliers
• etc

The stories are the company!

…for customers
orientation

… Easy

Unstructured Stories of actions are already
shared at
• lunch
• meetings
• the water cooler
• etc

What have you done…

Share and engage
anywhere… across
location and function

… & Fun

Earn recognition for doing
the right thing
The company as a nexus of stories:
What is your strategy story?
How do you tap into and align the story resource?
Make them action-based:
… Purpose-driven

They are about
• coworkers,
• customers
• Suppliers
• etc

The stories are the company!

…for customers
orientation

… Easy

Unstructured Stories of actions are already
shared at
• lunch
• meetings
• the water cooler
• etc

What have you done…

Share and engage
anywhere… across
location and function

… & Fun

Earn recognition for doing
the right thing

Introducing Echo.it –
the ESN with a purpose!
The first SaaS tool for action
sharing, employee recognition
and behavioral change
Echo.it is…
Echo.it is an internal social media that can
help engage employees and managers in
the activities and goals of your organization.

Echo.it brings advantages for both
managers and employees when working
with company goals:
Employees get the opportunity to receive
acknowledgement from colleagues and
managers on the basis of their daily actions
and engagement.
Managers get the opportunity to emphasize
the desired behaviors, actions, and KPIs.
Further, Echo.it enables managers with a
statistical insight into the behavior taking
place across the organization and the
departments.
How does Echo.it work in practice?

Employees are invited to a
branded secure platform

Categories are customized
to facilitate the desired
values, strategic
categories or operational
needs

For example: Ann Jameson:
“ I coached a colleague to
have a difficult conversation
around prioritization of
projects ”

This action inspires
others, and the manager or
other colleagues can follow
up with feedback online and
offline.

The employee gets
rewards from the system
based on activity and quality
of actions

… and that is only the
beginning. Echo.it can also
do surveys, goals and
special recognition and
lots more…

The action is aggregated in
statistics that shows the
overall involvement and
the success of identity
sharing
What is the package like?
Totally SaaS! 10 minutes to setup and
customize look-and-feel and brand for
new customers
Fully automated launch, activation and
retention of users
• Smart stream and social media that
matches the customer organization
• Sort echoes to quickly find what you
are looking for
• Make categories department specific

•
•
•
•
•
•
•
•
•

Unique behavioral statistics
Silo breaking follower-matrix
Set goals
Award badges – early gamification
mover
Do surveys or quizzes
Newsletters and personal mails
Mobile apps and api
Zero maintenance cloud-hosting
… and this is only the beginning!
All that for only 2 EUR
per user per month
Oh yeah… we have Closeto-zero marginal cost of
operating service
We are proud to be an award-winning
media darling on the uptake
Awesome facts

Customer examples

Third largest
aluminum
company

Close talk with
Top15 German
company

• Average activity rate of 73%
• Frontline personnel content:
70%
• Positive content: 93%
• 42% indicated a positive change
towards their job from using the
platform
• Growing userbase
• Beaten Yammer and Bunchball
on deals
• Winner of industry awards
• Lot’s of national medias
coverage
• Huge academic interest
The story so far…
Further reading
On entrepreneurship…

On sales…

On work…

On the world…
Why is it awesome to be an
entrepreneur?
Like most things, the answer is ”in your books”

You can only sell to people, if
they voluntary believe that you
are improving their world
= You know that you are
making a positive difference

Your profit depends on
your ability to maximize
utility usage
= You know you are
improving the world

You reap the results, but even if it is negative you will have improved the
knowledge of the human race. Pretty awesome!
Source: Heroes under distress, Madsen 2009, CBS

16
Where can employees engage with
your strategy today?

Thank you
Go to www.echo.it/joinus

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Echo.IT, Stefan K. Madsen

  • 1. GETTING TO KNOW ECHO.IT Emphasize the desired actions and reach your desired business results with a purpose-driven ESN
  • 2. Agenda Sorry if you thought I would show a bunch of pretty pictures. I am afraid we are past that point. I would love to show you our product – but it is so amazing and we spend too much time building it for me to pretend it is only worth two minutes of your time. I will tell you who I am, where we live, why we build what we have build, what we build, and how it is going… And just for you, I will tell you how the story has progressed, some further reading tips, and end it with why it rocks to be an entrepreneur
  • 3. Who am I? Echo.it, CEO & Co-founder • B.Sc Bus Adm., & Philosophy & M.Sc Finance & Strategic Management I also love tattoos, punk rock and Millwall FC – – – – • • • • Top 10% CBS Recommended by both CBS and KU president Several other courses, including INSEAD Winner of several international case competitions Active in student union Active in entrepreneurship networks Professional carrier includes startups, operational PE, research and Government • Loves to nerd economics and politics Stefan@echo.it / +45 5150 3663
  • 4. FAMOUS FOR THE THREE RULES INVITE ONLY ALL WEB AND MOBILE ONLY SCALABLE BUSINESS Made by entrepreneurs
  • 5.
  • 6. Why echo.it? How do you take strategy from armchair buzzwords to daily operations? How can I help manage companies where I know little or nothing about how the value is created?
  • 7. Strategyimplementation: Moving an organisation from A to B B Results = performance = actions B Decision A Actions Top management fails to get strategy communicated = Organizational standstill and eventual new top management Top management formulates KPIs for middle management but provides no other tools = Organizational dissonance and infighting The organization manages to translate strategy into actions! That was pretty basic business school stuff, huh? Well, if is so basic, how come: • 40% of strategy implementations fails due to lack of implementation tools? Despite the top 3 ways to engage employees according to CEOs is ethics and values, cooperation tools and a clear purpose? • Only 27% of executives believe their employees are inspired by their company… • … and worst still only 4 percent of the employees agree Despite the fact that Engaged employees contribute: +19% operating income, +29% Earnings per share and +14% income growth and in another study grow the stock price 901% over a ten year period in value-oriented organizations? You need to empower employees to share daily actions and relate them strategy Source: Deterding, McKinsey, IBM, CEO C-Suite Studies: Leading Through Connections, Boston Research Group, Journal of Organizational Excellence
  • 8. The company as a nexus of stories: What is your strategy story? How do you tap into and align the story resource? Make them action-based: … Purpose-driven They are about • coworkers, • customers • Suppliers • etc The stories are the company! …for customers orientation … Easy Unstructured Stories of actions are already shared at • lunch • meetings • the water cooler • etc What have you done… Share and engage anywhere… across location and function … & Fun Earn recognition for doing the right thing
  • 9. The company as a nexus of stories: What is your strategy story? How do you tap into and align the story resource? Make them action-based: … Purpose-driven They are about • coworkers, • customers • Suppliers • etc The stories are the company! …for customers orientation … Easy Unstructured Stories of actions are already shared at • lunch • meetings • the water cooler • etc What have you done… Share and engage anywhere… across location and function … & Fun Earn recognition for doing the right thing Introducing Echo.it – the ESN with a purpose! The first SaaS tool for action sharing, employee recognition and behavioral change
  • 10. Echo.it is… Echo.it is an internal social media that can help engage employees and managers in the activities and goals of your organization. Echo.it brings advantages for both managers and employees when working with company goals: Employees get the opportunity to receive acknowledgement from colleagues and managers on the basis of their daily actions and engagement. Managers get the opportunity to emphasize the desired behaviors, actions, and KPIs. Further, Echo.it enables managers with a statistical insight into the behavior taking place across the organization and the departments.
  • 11. How does Echo.it work in practice? Employees are invited to a branded secure platform Categories are customized to facilitate the desired values, strategic categories or operational needs For example: Ann Jameson: “ I coached a colleague to have a difficult conversation around prioritization of projects ” This action inspires others, and the manager or other colleagues can follow up with feedback online and offline. The employee gets rewards from the system based on activity and quality of actions … and that is only the beginning. Echo.it can also do surveys, goals and special recognition and lots more… The action is aggregated in statistics that shows the overall involvement and the success of identity sharing
  • 12. What is the package like? Totally SaaS! 10 minutes to setup and customize look-and-feel and brand for new customers Fully automated launch, activation and retention of users • Smart stream and social media that matches the customer organization • Sort echoes to quickly find what you are looking for • Make categories department specific • • • • • • • • • Unique behavioral statistics Silo breaking follower-matrix Set goals Award badges – early gamification mover Do surveys or quizzes Newsletters and personal mails Mobile apps and api Zero maintenance cloud-hosting … and this is only the beginning! All that for only 2 EUR per user per month Oh yeah… we have Closeto-zero marginal cost of operating service
  • 13. We are proud to be an award-winning media darling on the uptake Awesome facts Customer examples Third largest aluminum company Close talk with Top15 German company • Average activity rate of 73% • Frontline personnel content: 70% • Positive content: 93% • 42% indicated a positive change towards their job from using the platform • Growing userbase • Beaten Yammer and Bunchball on deals • Winner of industry awards • Lot’s of national medias coverage • Huge academic interest
  • 14. The story so far…
  • 15. Further reading On entrepreneurship… On sales… On work… On the world…
  • 16. Why is it awesome to be an entrepreneur? Like most things, the answer is ”in your books” You can only sell to people, if they voluntary believe that you are improving their world = You know that you are making a positive difference Your profit depends on your ability to maximize utility usage = You know you are improving the world You reap the results, but even if it is negative you will have improved the knowledge of the human race. Pretty awesome! Source: Heroes under distress, Madsen 2009, CBS 16
  • 17. Where can employees engage with your strategy today? Thank you Go to www.echo.it/joinus