3 Moves To Reap The gold Of The New Knowledge Economy

Breaking news! Mediocrity has died! R.I.P. It all started about five to seven years ago when social media started becoming a mainstream platform for interaction, news and entertainment. There became a devastating fight between Excellence and Mediocrity. Recently mediocrity has succumbed to its injuries and has died. How could this happen? According to the book “Intellectual Capital” (author Thomas A Stewart), we are in a knowledge based economy. ‘In this new era, wealth is the product of knowledge’, says Stewart. This means there are more intelligence and knowledge in products and services than there are parts and labor. For example a laptop today does way more in terms of processing, speed, weight and cost less than a desktop of five years ago. They have better chips, lighter cases, etc., all as a result of intelligence. Today’s products and services have made a paradigm and fundamental shift to be excellent. Why? Increased competition, abundance of information available to consumers as well as consumers being more discerning with who and how they give and spend their money. How do you transform your business in this new paradigm? Become the expert at what you do. Know and focus on your product or service so intently that when asked you can exude such confidence that you will leave no doubt in your knowledge, experience and ability to perform. Fill knowledge voids with knowledgeable people. You can’t be great at everything, so surround yourself or hire/outsource to people that possess the knowledge, experience and skillset to execute at a level you can’t. Everything is learnable, however the key is to understand what is worthy...