Embrace the Connection Economy
Unless you’re a follower of thought leader, Seth Godin, you might not have heard about the “Connection Economy”; and if you have heard about it, you may see it as just another piece of overused marketing jargon… but you would be wrong.
Like it or not, the days of marketing to the masses are over. Standardization, economies of scale, and conventional wisdom to serve the largest market possible (i.e. the rush to be average) are being upended by a new economy where value is created by the connections we make, not through industrialization.
Fueled by humanity and enabled by technology, the connection economy empowers people to do what they do best and lets them do it at a colossal scale – connect. And through those connections they can create the extraordinary, do something important and make a difference.
People crave connection and the businesses that can offer more connections are the ones poised to create more value. Hotels haven’t quite figured out how to thrive in this new economy yet, but they are making some headway with a focus on experience and the modern consumer’s values and needs.
At the same time, most publishers sadly continue to ignore readers’ needs and the impact the connection economy is having on businesses, at their peril.
It’s time to grow some wings…
Metcalfe’s law states that the power of any network is the square of the number of “trusted” nodes on that network – which in business terms equates to this…the most valuable places on the internet are the places that connect us.
So instead of rushing to be just another node in the network, be the node that adds value by bringing people together in a way that instils trust. Enjoy the privilege of talking to people who will listen to you and exchange ideas to grow. Learn from each other. Stop making average stuff for average people and start making incredible stuff for remarkable people. I know it’s not easy, but the harder it is, the more likely it will add value.
One of the greatest American writers of the 20th century, Kurt Vonnegut said it best, “We have to continually be jumping off cliffs and developing our wings on the way down.”
Sure there are risks, but if failure is not an option, then neither is success.