IdeaEconomy.Net

Companies are flocking to social media and crowdsourcing platforms in the hopes of finding cheaper or more effective ways to market their wares. This is understandable for we all need to make a living, however, I think the real promise of social media is bigger than just a financial transaction. People give their time and money for reasons above and beyond financial gain.

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Money motivates people only if you don’t pay them enough to want to do the work in the first place. After that, there are three factors that lead to better performance and personal satisfaction: Autonomy, Mastery and Contribution. The embedded animated video is a great watch.

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Book publishing is an archaic industry long over due for a revolution. In this Internet age, when information is instantly available from anywhere on the planet, it doesn’t make sense to go through a long publishing cycle only to have a product that is already dated. Books should be a work -in-progress of constantly enhanced and updated material. Books need to be a community, not a static product. While there are many experiments with the new mode of publishing, Leo Babauta of ZenHabits, latest book Focus is most likely going to be one of the early large scale successes.

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RSS feeds and blogs are a good fast way to get content but there is definitely a need for professional level content somewhere in the middle between magazines and blogs. Micro-magazines are a great opportunity for aspiring publisher/ entrepreneurs. This format is also likely to reach a much larger audience of readers who are not comfortable with social media yet.

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Economic success is no longer a product of the scarce resources you control. The only real differentiation arises from the quality of ideas and your ability to command an audience.

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Companies, bloggers and authors are not giving away free content, they are buying attention. That is what social media marketing is, free content.

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If your business is struggling maybe it is time to start implementing new business models. Actually, the time was probably a lot earlier then when you noticed the problem.

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