Monday, 17 September 2012

Product Based Economy

Today, we thrive in the Web 2.0+ ecosystem comprising of the Internet of things, where everything that can be connected is being planned to be connected - if not already connected. For sure, these are exciting times, which are pushing us further towards a product based economy. One might question: is it really so important to have ‘a presence’ on the World Wide Web? Of course, it depends on aspirations and the reach which one seeks; competitors may choose the former and potentially leverage better advantages. Anyways, in our inter-connected universe, it is no big deal to tweet from the International Space Station.

Google+, Facebook, LinkedIn, Twitter, Blogs, Pinterest, YouTube, QR codes, social advertisements, Instantaneous flash mobs, interactive advertisements, SmartTV, consumer driven outcomes, mobile banking, plastic money, solar powered mobile towers, easy availability of high-speed internet on almost every corner of the planet- be it an explorer summiting the Everest or a researcher practicing cutting edge science in Antarctica. Connected smart devices coupled with bandwidth guzzling computers, and the viral exponentially multiplying online social media interaction - rich engagements between known/unknown/alike/like individuals, and the soon to be commercially launched marvel Google Goggles - head mounted terminator styled android based wearable computing device. These working together as one cohesive unit or even standalone have the capability to define the value of any entity living on this World Wide Web. One correct move here, and you have window side seat in the Spaceship, or any other metaphor one may wish to imagine.

In such interesting times, full-fledged products give a definite edge over standalone-trying-to-catch-up solutions. A concrete product with defined and measurable deliverables, creating enormous value for involved stakeholders, has the maximum possibility to leverage the potential.

Also, compared to an out-of-the-world idea, it is so much easier for the sales team to sell, Investor to invest, end user to appreciate and make the decision to buy, a PRODUCT .