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The Mesh: Why the Future of Business is Sharing

The Mesh: Why the Future of Business Is Sharing - Lisa Gansky 1. The core offering is something that can be shared, within a community, market, or value chain, including products, services, and raw materials.2. Advanced web and mobile data networks are used to track goods and aggregate usage, customer, and product information.3. The focus is on shareable physical goods, including the materials used, which makes local delivery of services and products -- and their recovery -- valuable and relevant.4. Offers, news, and recommendations are transmitted largely through word of mouth, augmented by social network services. p.16the mesh sweet spot: high cost, frequently used goods.data-rich, highly shareable goods and services mesh best.Mesh design is: durable (products that many people use must be safe, well built and longer lasting.Flexible. accommodate different users with design that is module, but easily personalized.Reparable. Allow products to be fixed and reused, rather than trashed.Sustainable. Improves efficiency and reduces overall costs.p.53design is continuous and two-way. p.59Why now? 1. the economic crisis has bred distrust of old companies.2. the crisis has also encouraged people to reconsider what's valuable and important to them.3. climate change is forcing up the cost of doing business, including the making and selling of throwaway goods.4. the growing population and greater urbanization create densities that favor Mesh businesses.5. Information networks of all kinds have matured to the point where businesses can provide better and more personalized services exactly when needed. p.63-47 keys to building trust in the Mesh:1. Say what you do -- manage expectations and revisit them frequently.2. Use trials.3. Do what you say.4. Perpetually delight customers.5. Embrace social networks and go deep.6. Value transparency, but protect privacy.7. Deal with negative publicity and feedback promptly and skillfully.Say. do. win. p.91Reacting to negative feedback1. Pay attention.2. Act now.3. Be boldly honest.4. Don't panic and keep perspective.5. Pay special attention to people in the network (aka your customers).The nature of the Mesh business: If you own a shop, there's an initial purchase and then maybe no additional interaction. If it own a sharing service, the number of transactions will be many times greater. "Each transaction is an occasion to put my brand in front of the customer. The increased interaction allows me to glean more information, to improve service, and to make timely, relevant personal offers. ...In some instances, new gear will come on the market, and people may be unsure about spending money on it just yet. When a Mesh offering is added to an existing product sales model, new customers can try before they buy. p.35A study by McKinsey concluded that a recommendation from a "trusted source" like a friend or family member was 50 times more likely to persuade someone to buy a product or try a new brand. ...When someone shares his experience on [social media], he educates the friends and colleagues who are following him. And they are far more likely to trust what he says over what the company itself says. This is the "curator effect," a term coined by marketing expert Steven Addis.p.46Extensive lists of mesh type businesses in the last chapter.