The New MEconomy and why should it matter to you?


Over the past 25 years since the invention of the Internet a fundamental transformation has taken place that is just now coming to fruition and it’s called the “new MEconomy”.european_union2

I define the new MEconomy as a tectonic shift that has, and will continue to, dramatically transfer the “balance of power and influence” away from companies and placed it squarely in the hands of the individual.

Think in terms of marketing for a second as I make this point clearer.

When was the last time you made a purchasing decision based on a magazine or newspaper ad, a commercial on TV or by looking at a billboard as you drove by?

Better yet, when was the last time you were influenced by an ad that played itself out on YouTube when wanting to watch a video clip? (you couldn’t wait for the 3 seconds to end so you could click the skip button).  And when was the last time you clicked on a “sponsored ad” on Facebook, twitter or in an email that was sent to you via a company?

My guess is, it’s been a while if never at all and here is why, we have evolved.

We’re smarter, more calculating, better informed and more in control of when to buy, what to buy and from whom to buy.  So the question is, what has changed in marketing when it comes to influencing the purchasing decisions?

You already know the answer, a power shift has taken place where people have greater “INDEPENDENCE” from old media, great access to “KNOWELDGE” and are no longer willing to give their unconditional “TRUST” without due diligence.  Something that in the old economy was exclusively in the hands of big business.

Which is why in the new MEconomic shift where media has fragmented across a broader platform and communication has become instant and direct, and social networks have created new conjugation of people based on new found relationships, loyalties and affinities, “Personal Branding” will be of unprecedented importance.  And, whoever has the “heart and hustle” to build “online credibility” will undoubtedly become a power BRAND in the new MEconomy.

My point at the outset of this conversation is to let you know that YOU, yes YOU are the Most Valuable Brand (MVB) and asset in your business, at your place of work, and in your organization especially if you are on the front line meaning in sales, marketing, PR and business development but in order to win BIG you will need to immerse yourself in understanding how the MEconomy works and what it takes to better your chances of becoming a power brand and a resourceful “point of contact” in this new era we are now entering into.

To get started lets first understand the structural changes that have led to the emergence of the new MEconomy.


Globalization

Some people talk of globalization without truly understanding its impact on our lives.   Look around you for a second, I’m serious, lift your head up and look around you. Everything you see and I mean EVERYTHING is made, produced, invented, assembled and or designed in a different country, yours included.   Your mobile, computer, microwave, home furnishing, sports equipment, your car, bathroom tiles, the shoes on your feet, picture frames on the wall, your tooth brush and needless to say the clothes you wear, are all products that represent globalization at its finest.  As a strong advocate of globalization and a diehard world traveler let me be the first to tell you that connecting with our abundant planet is nothing to fear, but on the contrary, in doing so you’re opening up yourself to enormous possibilities that brings with it massive benefits both on a personal and professional level.

So when you meet someone who tries to sell you the idea that globalization is the root cause of all economic problems, tell them to get a passport and travel the world.  I am ready to bet a thousand dollars that such people have never been to another country beyond a week long excursion as a tourist and therefore have very little appreciation of the value and benefit globalization has to offer.  Globalization is the best thing that could ever happen to humanity and more so for entrepreneurs of the 21st century and beyond.

 

Your takeaway from globalization

First by embracing globalization you commit yourself to learning about other people, alternative ways of doing things, different lifestyles, new customs, traditions and business modus operandi.

This has a profound impact first and foremost on your creativity.  As you open up your heart and mind to learning alternative ways of life your brain will start to rewire itself.   You will become more flexible to change, less rigid in outlook and your hormones will begin to release greater levels of serotonin (the happy hormone).  How does that benefit you you might ask?  Well the answer is, globalization will make you a nicer person rather than just being another professional asshole with an “I take, you give” mentality.  By genuinely showing compassion, by being ready and willing to reach out of your comfort zone and by becoming a good listener you are increasing your chances of building better human connections that will ultimately enable you to outperform your competitors as you push forward in your endeavor to becoming a BRAND.

Second advantage of globalization is access to talent pool.  This is something the multinationals have been doing for decades, using outsourced skillset from around the world.  Now you can do exactly the same thing by tapping into global resources that will not only help you with your product innovation, but more importantly, as you expand your network these amazing people will become part of your success story helping you position your product or service in their markets not to mention they can significantly reduce your overhead cost.

I know this for a fact, because this is how we built AIOconnect and everything I share with you in this manual I have lived through it so I am not dishing out empty advice.  To build AIOconnect we worked across four continents, brought on some of the most talented software and application developers, partnered up with amazing business consultants and advisers, and teamed up with remarkable marketing professionals and sales gurus that when all put together have made us one of the fastest growing and profitable platforms today.

The key to your success is through “collaboration across creative minds” which is a term I have coined to describe the future of human capital networks around common objectives and profitable goals.  The old 9 to 5 model of work will soon be replaced with this model where everyone stands to gain, no matter where they live so long as they are ready to work smart.   

connect, collaborate and profit.

Third asset of globalization and the new MEconomy is shipping and transportation.  It is needless to say that as our world becomes more interconnected thanks to high speed internet and faster means of cross continental transportation, shipping tangible products by air, sea and rail have become easier than ever before.

This being said, it makes more sense to have a centralized digital point of sale in a country that offers you greater incentives (lower taxes, less regulation and red tape) than setting up physical branch offices around the world with the “hope” of expanding market share that may or may not happen.   The point here is that through the web you can centralize your entire supply chain and bring down the cost of shipping prices.  This will leave more profit for you, keeps your customers happy, and increases your BRAND presence as word of mouth (WOM) gets around that you are a trustable person to do business with.

Selling services is no different.  Using the web you can now transact online and transfer documents and files through your cloud based hard drive which is one of the core features on AIOconnect.    So whether you are selling a health insurance policy, a graphic design logo or a sales training course all of this can take place online and through AIOconnect.

A forth point that is of vital importance is money transfer.  With PayPal people can now transact instantly via credit card to credit card or credit card to bank account.   There was a time where we had to get in our car, drive to a bank, fill out a form and wait 3 or 4 days before money could be transferred.  Not anymore.  Everything is instant and its going to get even faster as mobiles become transaction devices and telcos become the new banks of the future.

The fifth attribute of globalization is the acceleration of innovation.  Today, an entrepreneur, intrapreneur, momprenuer, and or a laptoppreneur can come up with a brilliant idea, product or service from the comfort of their living room and or garage without having the old hurdles of building a factory, buying machinery, hiring a large labor force and or creating costly distribution channels in order to commercialize a product or service.

This business model is one of the key pillars of the new MEconomy.  With private labeling and factories in various parts of the world ready to build whatever you want at competitive manufacturing prices innovators no longer need to worry about having massive upfront costs.

The same goes for services.  You can tap into global human resources to support your backend if you are providing a niche service.  Let me give you an example.   Did you know that some of the best digital marketing companies in the United States use talented and highly skilled people in Eastern Europe for their SEO and Google Adword services?   Or many companies in Europe use application developers in South East Asia and the Middle East.   Or animation film companies use outsource animators in Turkey, India, and Singapore.

Without a doubt the clothing industry is a perfect example of this model with so many big brands using China as a manufacturing hub.  Its win-win for everyone and based on the cost of living in each country you can provide top dollar for access to such skillset and feel great about it.   Just make sure you don’t turn into a greedy schmuck like some big companies who operate their business on slave labor and support sub human living standards and your conscience can sleep well at nights knowing you are doing the world a lot of good.

The sixth and final aspect of globalization is how our world as we know it has shrunk.  With social media borders are a thing of the past.  Make something poplar enough and within days the world will hear about it and will demand it.

Today, thanks to the internet and social media the old power structure has dramatically shifted in your favor.   Which is why we have integrated the key social media networks such as Facebook, twitter and LinkedIn into AIOconnect making it easier for you to broadcast to your target audience across platforms through a single point of contact.

So, to summarize what the new MEconomy and globalization bring to the table, I can say, it represents unprecedented opportunity that can broaden your outlook and creative juice, it can lower your cost of innovation, provide you with access to greater talent pool and allows you to focus on bringing your dreams and aspirations to life with lowered risk and lowered cost.   So, my advice to you is, “embrace it or others will”.

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