Value of Community
The members of the Million Dollar Club, which I host, have come up with an “accelerant curve” (presented by Mark Smith), which we’ve embraced and expanded upon to demonstrate the connection among products and services ranging from ease of entry/low fee, to high intimacy/high fee. But it’s a two dimensional model, basically, and I’ve also tended to think in terms of a “web” of interaction among members of a community. (My value proposition is that “I create community,” and “The Architect of Professional Communities®” is a registered trademark.)
Anyway, I got to thinking on the beach (always dangerous) and I realized that there is an exponential and reciprocating value growth in communities. So as to appear scholarly, academic, and “deep,” I’ve decided to call this REV: reciprocating, exponential value.
What the kid from Union City actually means is this: The more valuable a community becomes—because of intellectual property, resources, networking, interactions, speed of response, status, peer reinforcement, etc.—the more valuable it becomes to be a member of that community. As the fee increases for being a part of a constantly, increasingly valuable community, more and more people are drawn to it (as many of you have seen in my process visual where fee follows value until the lines cross, and value actually then follows fee, because people expect to get what they pay for—this is the very essence of a strong brand).
This community “engine” becomes self-reinforcing—reciprocating. The more people entering at increasingly high levels, the more value THEY bring to the community, making it still MORE valuable. And people are apt to ensure that the quality they perceived or desired is indeed delivered, and those responsible for the community are motivated to not only meet, but exceed those expectations.
You can create community with your clients; your prospects; your members; your audience; your suppliers; and so on. Too many professional associations falter because the don’t have REV. Instead, they just have people bragging to each other, or taking while not giving, or just putting initials after their names.
I’m sure some of you in this community will find ways to use this for your own growth and prosperity. And so I mention it here, as my thoughts continue to formulate about REV.
© Alan Weiss 2009. All rights reserved.