Facebook recently spoke about their news feed. Their algorithm filters through an average of 1,500 news items and delivers us a mix of 300.
The results are staggering. Increased revenue. Increased engagement. Increased satisfaction (addiction).
It’s kind of like Facebook took its top 20% (300 / 1500) of its toolkit and ditched the rest.
No algorithm required for that math.
If you’re a homeowner, your toolkit probably has a hammer, screwdriver and maybe a power drill. The rest is a bunch of other stuff you only use 20% of the time.
If you’re a small business owner, your toolkit probably has MS Office, a printer and maybe an email marketing app. The rest is a bunch of other stuff you only use 20% of the time.
If you’re an amateur chef, your toolkit probably has some knives, pans and maybe a Vitamix. The rest is a bunch of other stuff you only use 20% of the time.
So, since all theses toolkits probably take up lots of space, and 80% of it is hardly used, why not downsize? Someone else probably has a toolkit to replace your “bunch of other stuff”. And that’s what that toolkit does 80% of the time.
Horse blinders are common in thoroughbred racing. They keep the horse from seeing what’s behind. And to the side. By wearing blinders, the horse stays focused on what’s ahead. Focused on powering to the finish line.
For it’s the jockey’s job to look around. To survey the competition. To strategize.
Meaningful projects are similar to the horse and jockey. The challenge is keeping blinders on the horse. Cause if you remove the blinders, all bets are off.
I listened to “Startup School”. It’s a podcast recording of Seth Godin’s seminar for entrepreneurs. I probably listened to that 15 track lecture 1,000 times.
Then I stopped. And so did my momentum on lifeisnoyoke.com.
Until I stumbled across this: Seth Godin’s recent post about how audiobooks changed his life.
Irony? I’m never sure. Coincidence? Maybe. Funny how things work themselves out?
For sure.
If you hire developer for 50 cents on the dollar, she is going to do a half-ass job. Usually.
If you pay your consultants like a pimp, in decent pay, love and drugs (alcohol), they will be hard-working, loyal soldiers. Usually.
But, if you take money out of the equation completely, what do you get? Nothing in return? Nope.
You get their best. Always.
Ask any mobster. The mafia business model is simple: Offer convenience and cures.
If you need a loan, you can get it from the mafia quickly. It’s convenient. Then, if you get over your head in debt, they’re there to help. They’ll burn your restaurant down and collect the insurance. That’s the cure.
Need something else? They’re open all day.
So, how is the CVS business model any different? If you need a snack, you can get it quickly. It’s convenient. Then, when you’re sick with diabetes, they’ll set you up with some insulin. That’s the cure.
Need something else? They’re open all day.
No, CVS won’t burn your house down. But, they might kill your family.
For my music at work, it’s $3 per month. That I paid to Pandora.
For my readers at lifeisnoyoke.com, it’s a typo here and there. That’s a cost not paid to an editor.
For the writer, it’s a longer walk to a quieter Starbucks. That’s paid in his time.
The costs to avoid interruption are small. But, to avoid commercial breaks, pop-up ads and loud talkers, the costs are completely worth it.
So, if the costs are so small, how come more people don’t pay?
Bruce Willis fans stop here. Or, at least be warned: He’s teaching today.
Why? According to Kevin Smith, Willis, these days, is just a paycheck player.
On the set of Cop Out, Willis refused to shoot until noon. Whined on set every day. And despite everyone else taking massive pay cuts to make the movie, Willis made sure to let everyone know he wasn’t getting paid nearly enough for “this shit”.
Whining about being underpaid transcends Hollywood. And, if you choose to do it, the outcome is always the same: Your team resents you. And you aren’t given any more money.
“Everyone wants more of two things: Facebook “Likes” and money”
Economists study one. Social media marketers study the other. Everyone says the same thing about both. “I want to get more now. I want to get more quickly. And I want to get more for less” For Facebook “Likes” and money, their true value is different. But their effect is, in many respects, the same.
For large businesses, acquiring likes is important. Save them up and when there’s a good opportunity, deploy the capital. And, even though the value is decreasing, the race to accumulate more is unchanged.
For start-ups, getting likes early-on is good for building credibility. Then, it helps organically grow the brand. And the community.
There’s definite value in businesses having “Likes”. But if you are getting into the game late, you can’t expect to catch up. You have to think small at first and build from there. JP Morgan started with a few dollars. And a few “Likes”.
Getting likes is fun. And can be addicting. But after a while, they lose their meaning. And value. And excitement. Like money.
Giving “Likes” is powerful. They can help start-ups. Or brighten a friends day. Or make them feel connected. Money is similar.
For the individual, the real power is in not giving the “Like”. Maybe it’s a company you don’t believe in. Maybe it’s a person you don’t care for. The “dislike” always has an impact. Just like with money, you can take your business elsewhere.
But at the end of the day, Facebook “Likes” and money don’t mean anything. They, however, can be a tool. A tool for giving or a tool for not giving (in protest). And choosing how you give is what’s meaningful. After all, with Facebook “Likes” and money, where are you taking them?
How do you make friends on social networks? For blogs, instagram and twitter, it’s basically the same. Reblog a post. Comment on a photo. Reply to a tweet.
Give, give, give.
The logic is simple. Give someone appreciation for their work, and they’ll return the favor. Also a pretty good plan for life.
Facebook, however, lets you skip this step. Without any giving at all, you can ask for “Likes” in mass. Please like my facebook fan page. We’re acquaintances, right?
Just ask, ask, ask.
It’s like a homeless guy asking for a dollar. Yes, he’ll get some. But isn’t he more likely to get the dollar if he has already given your facebook fan page a like?