Leveraging the Relationship and Sharing Economies: Innovation Potential and Strategies for Entry
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Leveraging the Relationship and Sharing Economies: Innovation Potential and Strategies for Entry
- 1. Jerry Michalski, President of REX Sustainable Brands 2015 San Diego June 1, 2015 Leveraging the Relationship and Sharing Economies: Innovation Potential and Strategies for Entry Albert Robida 1 #SB15sd
- 3. TheREXpedition.com Agenda • Framing • Four Economies • Linear • Circular • Sharing • Relationship • Trust
- 4. TheREXpedition.com Value Idle Value Hidden Value What We Value Invisible Value Aligning Value & Values Layers of Value
- 5. TheREXpedition.com The Economies • Linear (Consumer) • Circular • Sharing • Relationship • Collaborative • Peer-to-Peer • Freelance (Gigonomics) • Rental • On-Demand • Access
- 12. TheREXpedition.com What Gets Shared Value Frequency of Use Very Sharable Trump Card = Sentimental Value
- 13. TheREXpedition.com Sharing Economy Structures • “Two-sided” markets • Not always monetary • P2P, B2C, B2B • Personal and business • Business: internal and external
- 19. TheREXpedition.com Exercise Name Company Industry Date REX: Shareable Assets 2015 cc: BY Your notes: Stuff Spaces Skills
- 20. TheREXpedition.com Effects of the Sharing Economy • Earn income from idle assets • Idle assets are kept in motion • Build relationships • Build reputation • Earn income in spare time, on demand
- 21. TheREXpedition.com Benefits of the Sharing Economy • Economic • Environmental • Social • Convenience, choice & flexibility
- 23. TheREXpedition.com Thorny Questions Has the Sharing Economy become the Rental Economy? What does the Sharing Economy mean for manufacturers? GDP? Are workers better off or worse off? Who benefits here? Is the Sharing Economy always winner-take-all? What should cities do about the Sharing Economy?
- 30. TheREXpedition.com Better words Customer Client Student Patient Audience Individual Fan Family Guest Participant Member Household Citizen User* Ally *which some people can’t stand, but I really like
- 33. TheREXpedition.com Aligning value and values Too often… Value You Create ValuesYouHold Value You Create Values You Hold What if…
- 34. TheREXpedition.com People Are Also Inventors Artists Critics Scientists Amateurs Mentors Writers Recommenders Sharers Repair Technicians Teachers
- 36. TheREXpedition.com “If you have nothing to say, sing it!” –David Ogilvy
- 37. TheREXpedition.com If we: Stretch the truth Treat you like cattle
- 39. TheREXpedition.com If we: Stretch the truth Treat you like cattle Go to war on you
- 41. TheREXpedition.com If we: Stretch the truth Treat you like cattle Go to war on you Call you “consumers” Stalk you Fill your world with noise Deny mistakes and wrongdoing Don’t really listen or engage Why trust us?
- 44. TheREXpedition.com How to build trusted relationships 1. See your customers as peers 2. Be honest
- 46. TheREXpedition.com How to build trusted relationships 1. See your customers as peers 2. Be honest 3. Be open
- 51. TheREXpedition.com How to build trusted relationships 1. See your customers as peers 2. Be honest 3. Be open 4. Understand social dynamics
- 52. TheREXpedition.com How to build trusted relationships 1. See your customers as peers 2. Be honest 3. Be open 4. Understand social dynamics 5. Design from Trust
- 61. TheREXpedition.com Layers of (Invisible) Value
- 62. TheREXpedition.com Design from Trust is often: Counterintuitive, risky, uncomfortable Cheaper than control More effective Transformative Regenerative, social But: • It’s social, so there are no guarantees • It’s nested inside other problems
- 63. TheREXpedition.com Thorny Questions Stalk or serve? Are people really trustworthy? How might we shift our measures of success, personal, corporate and economic? How do we shift from mistrust to trust? How do you deal with the bad actors? How do we manage the Commons together?
- 64. TheREXpedition.com Trust is the new differentiator.
- 65. TheREXpedition.com Trust is the way forward. Despite the many reasons it’s hard to trust people…
- 66. TheREXpedition.com Thank you. Jerry Michalski jerry@sociate.com @jerrymichalski REX: the Relationship Economy eXpedition TheREXpedition.com Thank you, #SB15sd!
- 67. TheREXpedition.com The idea landscape Neighbors: Compassionate Capitalism Conscious Capitalism Theory U/Presencing Open Source The Sharing Economy Servant Leadership Not Neighbors: Attention Economy Experience Economy Authenticity Mixed: Creating Shared Value Wikinomics Big Data
- 68. TheREXpedition.com The Commons • The Commons — Natural Resources — The Commons • Coming back into relationship with the Earth • Natural fit with sustainability, green, circular, sharing, etc. • Governance models of The Commons (Elinor Ostrom) • The New Commons: information, knowledge, learning