More hype has been piled on Generation Y, or better known as Millennials. We are building layers to insulate rather than removing layers to engage. This needs to be our call-to-action. Millennials, Gen X, Boomers, and Silent Generation alike but between two generations. We need to cross the gap and lead anew!
Your reputation is your most valuable asset, you are creating a trail in every area of your life about your integrity, performance, expertise and is becoming the backbone of Social Business.
Rachel Botsman gives a powerful talk on TED about the currency of the new economy, which is trust. Rachel is the author of Collaborative Consumption. If you haven't read it, you should because it is an amazing book about a movement that is underway and the wave of the future.
It's empowering on so many levels. It has everything to do with the Trust Economy where technology has enabled trust between strangers to create all kinds of new marketplaces, relationships, possibilities.
This is one of those talks that you have to listen to more than once, it's that important!
Here are some highlights to Rachel's talk
**In the 21st Century, the reputation economy will create new ways we look at wealth, it is as powerful as the industrial revolution, listening to this talk is a must!
**Empowering people to create new marketplaces that are built on reputation and trust
**We have wired our world to share, swap, trade or barter - match what we have in more democratic ways
**part of a massive value shift underway - instead of keeping up with the Jones, we're connecting, collaborating and buying to get to know the Jones
**Your reputation and new ways of measuring this is crucial. This is not like Klout, where they measure influence, this is about service networking. She refers to this as lemonade stands on steroids
**Think of all the possibilities - over the past 20 years, we've evolved trusting strangres
**Reputation economy - everything we do leaves a trail online about how well we perform, behave towards others - capturing all of this is a massive challenge
**Shouldn't we own our reputation data? It's contextual, the big challenge, is figuring out what data is important to pull, but it's a matter of time we will be able to see a real-time stream of how you have acted, performed in different areas of your life. What you're good at, your integrity and performance rating. This is fascinating.
**Reputation Capital - The worth of your reputation - how you can aggregate, monitor and use your online reputation (she says this sounds like Big Brother) however, she has a point, she says we would have more control over our reputation if we own it. More on this in the talk.
**Reputation Capital will create a massive disruption in the marketplace - your credit score will no longer limit what you can do in the world - your reputation will be the currency that you can be trusted
Selected by Jan Gordon covering "Curation, Social Business and Beyond"
"Trust is a privilege, not a right. It's earned, not assumed. If you pay suppliers late, drive too hard a bargain, over-work and underpay your workforce, then you shouldn't be too confident of anyone's trust. If you treat everyone who connects your business with respect, you stand a far better chance. Think of it as an investment: The more you put in, the more you get back."
Craig Gosselin, General Counsel and Human Resources (HR) leader for iconic American brand Pacific Sunwear, believes that managing legal and HR affairs for a major brand warrants the same outlook as doing so for a smaller company: The emphasis has...
"When it comes to trust, not all relationships are at the same level. Based on the context of the given relationship – professional, personal, family, social – each one can experience a different level of trust.
In almost every organization, there is a concept of overhead. Inc.com provides a solid overview of overhead, but simply stated it is the “costs incurred to make something else possible.” This is a great definition, and it should be applied squarely on leadership.
Overhead costs on leadership should be low, meaning little burden on others. There are certain required overhead costs to leadership:
Other enabling activities….
What kills a culture and team member spirits is a loaded overhead leader. The costs of a heavily burdened overhead leader can be very damaging. The costs to make something else happen, in bad leadership terms, are too high.
What are the characteristics of a high overhead leader?