How to Connect and Build Your Ecosystem - Lake Harding Association

How to Connect and Build Your Ecosystem

How to Connect and Build Your Ecosystem

By Micah Moen 0 Comment August 14, 2019

If you look at all of the real powerhouse
companies today, the Googles, the Facebooks, the Twitters, the Amazons, they’re all ecosystem
companies. Their competitive advantage—their business—is
based on connecting people, For instance, Apple, they’ve created this Appstore where
you can buy apps from all different developers all over the world. That’s an ecosystem. Facebook: they’re connecting all of these
consumers who are sharing their content, their ideas, with other consumers, their friends,
but they’re also connecting them with advertisers who frankly are the ones who pay the bills. Amazon, the reason it’s so valuable is all
of those reviews, all of that information that’s within Amazon. It’s based on the ecosystem. The ecosystem of suppliers, the ecosystem
of customers who are contributing their thoughts and their ideas and their reviews. The old rule, for instance, you didn’t really
think about ecosystems much. You had point-to-point relationships with
each of the people that you would deal with. You dealt with suppliers and tried to keep
that fairly separate. You dealt with customers one at a time. You build long-term relationships with your
customers over time, but they were bilateral relationships, right? One to one relationships. Now it really pays off to connect customers
to customers because customers are going to end up being your salesforce. And in fact, if you look at,
the CRM company, they’ve done a beautiful job at this. Customers are the ones who are developing
new applications for the salesforce technology. Customers are the ones who are advocating
for them who are marketing for them and customers are the ones who come to their conferences
to talk to each other. Not to talk to the Salesforce employees, but
to talk to each other. So they’d done a great job of connecting their
ecosystem in a very, in a way that’s valuable to everyone, but they make it easy by putting
on conferences, by creating a very flexible platform where people can connect to each
other, where people can sell something that they developed for one industry to people
in another industry who might want to use it and things like that. Any company needs to be thinking about who
is our ecosystem now and who do we want it to be? What are each of the members of that ecosystem? How are they going to drive value from the
ecosystem and how can we make it easy for them to drive that value? Even if you’ve got a very small company like
my company, a small consulting firm—my ecosystem is my clients, the people who helped me on
projects, my suppliers and being able to connect all of those. For instance, one thing we do is hold
a Strategic Agility Think Tank that enables our clients to meet each other and learn from
each other, hear each other’s stories and collaborate with each other in a way that
they wouldn’t have been able to do without us helping create that ecosystem. No matter what business you’re in, you need
to be thinking from an ecosystem perspective: how to connect and build your ecosystem.

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