📻 — The Attention Equation, World Class Teams, and the Future of Commerce
This is your Community, Daily.
Reading Time: ~ 3 min.
[And to the
43 new subscribers &
yenizens who joined last week… I’d love to get to know you better! What are you building in 2021? Let me know!]
humpday, there are a just a few great reads that I suggest you share with your communities — good conversation starters, for sure!
Oh! And don’t miss the opportunity to host a workshops in 2021 for other
yenizens! I’d love for you to think about it.
To infinity & community,
a16z captures some of the fastest-growing social networks and communities as well as the implications of “social striking back” — I like these deep-dives into engagement as it really makes you think:
Worth a conversation (or two) with your teams. And, what about this
attention equation? Give this some thoughts:
Grateful for the work via a16z. Oh, and… thoughts on media companies? Check:
Most communities ultimately become (or act / behave like) a “media” hub or product at some stage. The question is whether the community leader did that intentionally or not.
There’s something incredible about managing intent.
This sounds cool:
A community for creators to sell their work and build a fanbase.
Give their survey a click and let’s see what it’s about.
This is via NFX, my
TL;DR: of the article:
Plan for the future, but work on the issues that you face today. A good community leader will do both, planting the seeds for tomorrow’s growth but making sure that the need’s of the present day are covered.
Important trade-offs to constantly consider: Expertise vs Customer Needs, maximizing current resources, strategic spending of resources, and the trade-off between speed vs efficiency.
Keep community small until you’ve figured out your product-market fit. Scale when you’ve hit it.
Develop internal (community) talent constantly, developing leaders from within. Create a culture of opportunity.
Onboarding matters as well as reporting.
A good deal of goodness in this good article on good things to think about as you make your good community great.
( ˇ෴ˇ )
Building anything for a long period of time only to realize that it’s a failure is… … hard to do. A new
yenizen shared his story with me the other day and I hope it also encourages you.
This was my response:
Opportunity cost is a real thing! Keep going. You’re doing it right.
Is this the future of commerce? Perhaps. The report has some interesting insights and things to be thinking about — for instance:
Consumers expressed the desire to shop with independent businesses but still purchase from marketplaces for convenience.
Independent brands that improve their discoverability and fulfillment capabilities are poised to succeed.
What does this mean for community building in 2021? It means that communities will need to do two things, especially if they want to stand-out in an ever-increasingly competitive (community) market:
Deliver (shopping) experience faster (at the POS, everywhere).
Speed + Convenience + Discoverability = Community Win! We’re distinctly poised to bring “conversational commerce” into the limelight:
I can’t wait! 2021 is going to be the best year ever for community. Are you ready
Fifty-two things that Tom learned in 2020. Cool.
Love you all! Have a great and wonderful day!
Oh! I’m also starting to think through a few cohort-based, hands-on livestream workshops like we’ve had in the past and I’d love to chat with anyone who’s interesting in hosting one for the
yeniverse next year!
One of our
yenizens, @authorette, is the first to help me start thinking through this via our Notion document. For instance, she’s thinking about leading a small, interactive workshop on story telling and “finding one’s story” which sounds too fun to pass up.
If you’re interested in brainstorming on the Notion doc itself, let’s chat! Hit me up via DM on Twitter and we can talk specifics.