Shaping the Future in Small Moves, Smartly Made
Book: Power of Pull
Earth-shattering messages aren't always delivered by dramatic, powerful speakers. In this case, John Hagel arrived with a whisper -- literally, the room mic wasn't working. But an hour later, he left me stunned with a complete reshaping of of how to build markets and bring about ecosystem level change.
Here are my session notes:
Ultimately, what a shaper does is flip perceptions of risk & reward.
- Magnify perception of reward
- Minimize perception of risk
- Motivate people to join the movement: shaping initiatives
What are the common elements of a shaping strategy?
1) Shaping View: Longterm view of the market and industry. Longer, broad, not just 1 company... 10-20 years. View of the future, not of the company. Really compelling-- it's going to happen! Increase perception of enormous reward, discount risk, little uncertaintly of it not happening. Opportunity here for many players. Are you going to play, or stand on sidelines?
Deeply understanding what the Longterm play here.
2) Shaping Platform: Economic: Reduce investment required to play, accelerate return of financial investment. Moderate investment returns revenue quickly.
Rapidly deploy. Most platform released rudimentary. Fleshed in over time. Don't gold plate the platform. Launch early, launch fast, with the necessary basics.
Create platform where there are many niches, many players can join without going head to head.
Create environment where all the participants are learning quickly from each other. Enough reward in the market that lots of people can benefit.
Greatest failure: not understanding the motivations of other participants.
3) Shaping Acts & Assets: Commitment to see this through assets and convictions, despite neigh sayers. Building credibility through wins and alliances. Put money where mouth is.
Network effect; increasing returns. The hardest part of any network is the early days. How do you quickly get critical mass?
Opportunity for today:
Cloud: 20 yrs from now, what the cloud will look like
Personal Data Ecosystems: Here's what this looks like
Social Networks: let people learn and drive performance enhancement with each other.
Think beyond your 1 company
What are the motivations of the other companies and what will cause them to invest aggressively?
Shape or be shaped.