Does My Small Business Really Need a Social Media Policy?

You may have heard about the recent lawsuit between Phonedog, a mobile phone news company, and its former employee, Noah Kravitz, who took the company's 17,000 twitter followers with him when he left the company. Phonedog is suing Kravitz for $360,000, the alleged value of their twitter followers.
Its pretty clear that Phonedog should have created a social media policy, outlining who owns the social media accounts created by their employees while working for them.
But what about you and your little company?
In this video, I'll tell you why your little, bitty business needs a social media policy much more than Phonedog.
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[If you're viewing this via email, see the video here:]
So what do you think? Are social media policies silly and unnecessary or an important means to protect small businesses access to their customers and fans? Use the comments to tell me how you plan to deal with this issue in your own business.

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