Sharing and buying, what’s our currency?
Discussions about new currencies in this age of sharing are not new. Many have done research about other means of value compared to money as we know it. During the rise of the internet, we exchange value more easily without the need of money. And then there is this other characteristic what really differs from money: abundance. Nowadays there is an abundance of knowledge, an abundance of people who know how to find people for specific needs, or willing to share experiences, ideas or knowledge about numerous subjects like travel, product reviews, music or even business experiences. The latter is rather difficult for many people. Sharing is all good they would say, but about personal stuff rather than professional. Why share all your knowledge about foreign markets, while you’ve spent all your working life to build it up?
That question is an interesting one to answer. Why would you do that? And if you would, with whom? It can represent your competitive advantage, an advantage that you would like to keep intact. As with many seeming threats, it’s better to seek for ways to use the ‘threat’ as new chances, because if you’re not the one who’s willing to share, others will. So as a knowledge leader, someone who really is good in some specific areas, it can be a good strategy to position yourself that way. There are enough examples of ‘knowledge leaders’ that make use of channels to share their knowledge where it can be copied easily. Books are not the only way, the internet provides faster and wider spreading of the valuable information. Protecting the knowledge is not needed when you want it to be shared. It’s your new marketing channel. 37signals is my favorite example here, they try share their knowledge and strategy as much as possible, and with result.
Another interesting characteristic of sharing is its value. Knowledge (is every form, such as experiences or market knowledge) has value. Value for the sender and it’s recipients. But real value is created when people come back to the sender with unexpected responses which can lead to new insights, new ideas, or combinatorial innovation. See what happens in forums like some on LinkedIn, for example. People find each other, discuss topics, and collaborate which is good for all participants and spectators.
Sharing knowledge is not the same as giving up competitive advantages. In an age where sharing is easy, you’d better use it in your advantage. Of course, first things first, you still need enough money to make a living, but on top of that we exchange more and more without the intervention of real money. So you can ask yourself what our currency really is. It seems to shift more and more away from money as a medium of exchange, to an exchange of knowledge, experiences, which builds relationships and trust, and spurs innovation. 1+1=3. Above post is the result of sharing thoughts with a colleague about being open or closed about you business experiences, and at the same time an argument for trying to share as much as possible to encourage new ways of value creation.
Some interesting reads on this subject:
- http://blog.futurestreetconsulting.com/?p=151 (Mark Pesce)
- http://www.amazon.com/exec/obidos/ASIN/1594200068/gurteen (Lawrence Lessig)
- http://www.buzzmachine.com/2009/06/12/when-innovation-yields-efficiency/ (Jeff Jarvis)