The New Value Equation for All Businesses
Business value used to be easy…we had an idea, we made it or promoted it, the market bought it and we paid our bills and invested the rest! Simple…..
Yesterday I was doing a social business workshop and was struck by the confusion of what business does these days….
Now trust me…this sounds wrong…..but business is actually simpler these days in creating value.
In the past we needed to source ideas, people and spend great deals of money telling the world how great we are….
Now if we embrace the social element in our culture to the business world then
- We have greater access to information, ideas and talent. It is not what we know, it is not who we know….it is what our network knows, what our network has access to…
- Access costs less than ownership and we can access anything we need from production to funding, from freelance talent to global markets.
- We don't need to manage people and processes…we need to faciliate networks. Managing is hard, facilitation is what we do in our everyday lives.
- We don't need to sell, we need to do what we are best at…and then allow those customers to sell for us.
- We are not stuck behind the walls of a corporation spending money on what the market thinks….we are part of the market, the customers are talking to us everyday free of charge and even willing to take on aspects of business for us…..ideas, selling and even producing.
Does social make it more complex to make money? No. It just means that we don't have to do it on our own, if we embrace the network rather than manage the parts of the process, then we can do it cheaper, quicker and with less risk.
What do you think? More complex or more human?