February 17, 2006
Value and The Individual Economy
A few days ago we discussed The Individual Economy. In case you don’t remember, in the Individual Economy the value created by an individual becomes personal equity and it is portable. Different industries have flirted with assessing the worth of an individual in a fashion that recognizes his or her ability to create value. The Sports and Entertainment industries have long been a part of their own version of The Individual Economy. A great athlete or gifted actor can command a premium for his/her services.
Where the sports/entertainment comparison breaks down is in the market-based nature of those industries. There are only a few individuals who can throw a baseball 100 miles per hour or bring a fictional character to life to the extent that people lose themselves completely in the film. The rarity of the talent drives the value of the individual.
This leaves us with two burning questions: How does the average person maximize the value they create? and How do they make certain that everyone knows that they have this value creation ability? These are the very questions that I set out to answer in my book: Career Intensity: Business Strategy for Workplace Warriors and Entrepreneurs.
As I reflected back upon my own career, I noticed that the most successful individuals I encountered were able to consistently outperform their peers. I talked with many of these folks and I noticed that they followed a strategy of continuous individual improvement throughout the course of their careers. This strategy consisted of three critical components:
- Assessing themselves and their position within the context of their environment (conducting a personal situation analysis)
- Creating value for their customers (both internal and external)
- Promoting their ability to create value
The people who followed this continuous career improvement strategy went on to become superachievers.
One of the goals of Career Intensity – the book and The Career Intensity Blog is to share this strategy with as many people as possible. As we continue our discussion of success in The Individual Economy, I encourage you to help spread the word about this infectious model for success. In the long run, when we help others, we also help ourselves.
The discussion on this topic will continue in the days and weeks ahead.
Filed under: Individual Economy
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[…] A few days ago we discussed The Individual Economy. In case you don’t remember, in the Individual Economy the value created by an individual becomes personal equity and it is portable. Different industries have flirted with assessing the worth of an individual in a fashion that recognizes his or her ability to create value. The Sports and Entertainment industries have long been a part of their own version of The Individual Economy. A great athlete or gifted actor can command a premium for his/her services. […]
Pingback by Career Intensity Blog - David V. Lorenzo — February 17, 2006 @ 14:07
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Create Career Intensity Buzz
Promotion of self or anything else should be more along the lines of Seth’s viral marketing ideas.
You want to promote yourself, sure, but you want others promoting you more. Your goal isn’t to promote yourself. It’s to create the buzz.
Trackback by Minor Point — February 19, 2006 @ 13:32
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Michael,
I completely agree. In fact that is precisely what I advocate in the book (Career Intensity). It is the highest evolution of value demonstration.
Thanks for the comment and mention on your blog.
Dave
Comment by Dave Lorenzo — February 19, 2006 @ 13:43