How does business 2.0 work? Thank You Economy by Gary Vaynerchuk shows why giving more than taking, in the long run, makes successful
Actually, the book explains the increasing importance of social media in business. It becomes very clear that a mindset that is fundamentally resistant to change will sooner or later not be able to hold its own against its competitors. Competitors who will have the openness and courage to try out new things and will spare no effort in investing resources in things that are difficult to measure and only pay off in the long run (e.g. Social Media Manager). The fear of investing in a platform which is threatened by being “eaten up” by other new platforms (for example MySpace back then) is taken away because you can take your loyal customers / fans / followers from the sinking ship to the new dominant platform. It only explains the importance of social media and how to deal with the end consumer. These core values are platform independent and can be applied universally to different platforms.
I liked the book because every method and approach can be traced back to certain core values. Honesty, sincerity, authenticity (“being approachable”). Your business isn’t about you, it’s about the customers, they are what makes your business possible. Honest and authentic interaction with your customers always pays off sooner or later. Shortly because of the personal peace of mind and the relaxation that goes along with honesty. You never try to embody something that you are not or cannot achieve. In the long run because of the good reputation. As natural as it may seem, there are many entrepreneurs out there who do not embody and live these values. Customers often feel this better than one would like to admit and then settle down at the next company, which is about the customer and not about the company and that is also a good thing.
Disclaimer: This article was written in my on old blog on the date shown above. I didn’t adjust or updated any of these except for the thumbnail.