Many years ago, the main value in a company was the products or services it produced and delivered. In this Vlog, Grant explains that today, the main value is in the attention that the company has.
There was a time when companies would try and sell as much of their products and services as possible.
The number one question they would ask is how much more of ‘X’ can we sell.
Of course, successful commercial companies want to sell as much as possible, but today, there is a more important consideration.
We live in a world today of abundance of information, and that makes the scarcest resource that every company requires; people’s attention. It’s the companies with your attention – that win.
For example, take Amazon. They’re so successful not because they’ve got a great e-commerce platform, but because they’ve become a search engine. In other words, when you’re looking for a product, you’ll often go on Amazon just to see what’s available and the prices that those products cost, but when you’re only one click away from purchase, they’ve got your attention and they often get your business.
When you’ve got the attention of a particular customer set, the number one question you need to ask is what else do my customers need. Even if you can’t deliver the solution in its entirety yourself, you can partner with others.
For example, think of all the partnerships Amazon have. The crucial point is this, years ago, the main value in a company was the products or services it produced and delivered. Today, the main value is in the attention that the company has.
A starting point is to think about the challenges that your customers have. That can lead you to thinking about the needs that you can provide.
There may be small changes to the spoken word in this transcript in order to facilitate the readability of the written English