There are a few trends that businesses need to watch now. First, the rapid growth of social networks and social interaction online is making it necessary for businesses to become part of the conversation. Just as important as participation, individuals and companies need to build and manage their online reputation. The footprint left online is increasingly affecting both online and offline profitability.

Secondly, businesses have to watch the increasing rate of innovation. Recently, Brendan and I were at the Graphing Social Patterns East Conference in Washington D.C. One message that stood out to companies there – go fast. More application developers are developing more solutions, mashing up more technologies and doing all at a faster pace than ever before. It underscores the need for individuals and businesses to become early adopters of technology.