10 Rules For The Intangible Economy
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Transcript of 10 Rules For The Intangible Economy
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10 Rules For The Intangible Economy
www.smarter-companies.com proprietary and confidential
10 Rules for the Intangible Economy lays out the essential dynamics of the
emerging financial order.
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These rules are fundamental principles that are hardwired into the intangible economy,
and that apply to all businesses and industries, not just
high-tech ones.
Think of these principles as new economic rules of thumb.
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Rules are mental models, regulations governing
conduct, action or procedure aimed at
getting a result.
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When the rules change you have to change “how” you think
before you can change “what” you do to get the
results you want.
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The old rules for economic gains were designed to produce and
sell tangible things
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The new rules for economic gains are to create
and distribute valuefrom intangible things
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The new rules for the intangible economy
start by thinking smarter, rather than working harder.
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Smarter Companies
Follow The
Rules Of The
Intangible Economy
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These Are The 10 Rules For The Intangible Economy
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#1 Throw Out The Old Rules
• The old rules were about centralized control
• The new rules are about decentralized control
• The old rules were about managing people
• The new rules are about enabling people
• The old rules were about counting things
• The new rules are about counting value
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#2 Create Collaborative Advantage
• It used to be about competitive advantage
• Now it is about collaborative advantage
• We used to compete for the same market.
• Now we collaborate to expand the market
• Competition is about beating someone
• Collaboration is about working with someone
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#3 Feed The Minds
• Productivity is no longer measured in time
• Productivity is now a measure of smarter thinking
• The better we learn to think the more we can do
• Give people information and they’ll wonder why
• Give people knowledge and they’ll know how
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#4 Increase Value
• Tangibles represent 20% of the value
• Intangibles represent 80% of the value
• More value comes from the 80% than the 20%
• Minds create more value than machines
• Human capital rest in people minds
• Engage the minds and increase your capital
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#5 Give Value Freely
• Generosity begets wealth. The law of reciprocity
• Sharing ideas generously begets creativity
• Value creation begins with an idea (Intangible Capital)
• Good ideas are the ones that create new rules
• If you create the new rules you rule
• The rule is to give everyone value freely
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#6 Maximize Network Value
• Shift from maximizing the firm’s value to maximizing the network’s value (Strategic Capital)
• Unless the network survives, the firm perishes (Relationship Capital)
• The network is much bigger than the firm
• The network is were all value is created, distributed and consumed (Structural Capital)
• To feed the minds feed the network.
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#7 Accelerate Innovation
• What was is now obsolete
• Innovation comes from idea factories
• Idea factories produce value not things
• The factory isn’t contained in building
• The factory is within human networks
• Human networks create intangible capital from innovation
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#8 Think Mind Share• It used to be about market share
• Now it is about mind share
• Mind share is created from interaction
• Interactions create relationship capital
• Relationship capital creates interest
• Interest is the dividend of the intangible economy
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#9 Improve Intangible Capital • Define what value means to people
• Quantify the meaning to points of value created
• Measure perceptions of value by stakeholders
• Improve value creation through engagement
• Correlate improvements to results
• Start over again and never stop improving
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#10 The Soft Trumps The Hard
• Tangible things are easy to manage and see
• Intangible things are difficult to manage and see
• The most precious and valued assets are invisible and intangible
• Social technology has made the intangibles visible
• Identifying, measuring and enabling intangible capital is how more value will be created
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The Intangible Economy Isn’t In The Future….
It Is Here Now
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So Now Is The Time….
To learn how to create more value from the Intangible Economy by collaborating with Smarter Companies who know how.