It’s a big idea that’s important to any type of business (B2B, B2C, B2G, or even Not-for-Profit). Like me, you may have missed it initially. It’s in Facebook founder Mark Zuckerberg’s letter to his shareholders. It articulates Facebook’s compelling vision of the future:
“We think a more open and connected world will help create a stronger economy with more authentic businesses that build better products and services. As people share more, they have access to more opinions from the people they trust about the products and services they use. This makes it easier to discover the best products and improve the quality and efficiency of their lives.”
Notice the phrases “authentic businesses” and “opinions from people they trust”. Think about this paragraph in total: It is a paradigm-shifting idea. Whether you sell to consumers or to other businesses, it means that information is flowing freely; it means that there is no place to hide imperfections.
Whether or not Facebook (specifically) is a useful tool for your business is irrelevant. Rather, it means that in the future your business will succeed only if you and your products are truly the best.
In a world of “perfect information” it’s likely that only the best player will win. Assuming that there are nine competitors in your space, random chance gives you a 10% chance of being that winner.
It’s time to do an honest assessment. If your prospects and customers knew EVERYTHING about your business and about each of your competitors, would they pick you? If not, it’s time to start re-engineering your products and services (involving your customers), enhancing your customer support processes (to be more responsive, faster, better…), and even upgrading your hiring practices.
Indeed, if your culture is not the best among all of your competitors, in a world of perfect information, who is going to work for you? Not the best and the brightest, that’s for sure (see www.GlassDoor.com for motivation).
With Facebook membership now approaching 1 billion people, a more open world is already upon us. Make certain that your business is ready.