In the old economy, growing your business was all about making your business the superstar. How could I get as much press as possible? How could I be everywhere? How can I make my customers love me and think I’m the best?
In the new economy, growing your business is not about seeming more important, but about contributing to the network. The network – the size and strength of the configuration of connections between users – is the focus now. And your job now is to make the network the superstar.
For example, the billions of dollars of value of Facebook does not come from the features it provides (great emojis, the awesome way it lets you upload pictures, that wonderful “update” box that says “What’s on your mind?”, etc.). It comes from simply its ability to connect friends and family together for free.
The value of Uber doesn’t come from that sweet map that allows you to see your area; it comes from its ability to connect you to able-bodied and willing drivers in your area, at a very low cost.
A key question businesses have to ask themselves today is: how do I connect my users better to each other?
The age of having your users say this product is the best are coming to a decline. Today, users ask themselves: who else is using this product, and how will this help me connect to them better?
Although users are asking themselves this question, your real value comes from answering it.