Originally published by Sibi Nathaniel Grey
“I’m sure that I’ve either met them at an event once, or one of my colleagues should know someone who knows them – and I can probably get you an answer within the hour. Just hold on a minute, let me figure out how to get this going” – Patrick Forestell.
Patrick, who is a formidable friend, colleague, & walking, talking embodiment of the Network Effect inspired this 3 Part Series on Leveraging the Network Effect for Businesses as it pertains to the Future Of Work & Marketing’s New Normal.
Any good or service becomes more valuable to each user, both directly and indirectly, when the number of people using it increases. This is the fundamental concept behind the Network Effect. From the telephone to the internet, and from Facebook to Linkedin, and even Slack – the realities of the powerful effects of a strong network cannot be ignored. The kicker? Leveraging the Network Effect for your business is entirely possible if due consideration is given to the three universal principles at its core.
Applying these three concepts of the Network Effect to a business creates two tangible and actionable use cases for any modern enterprise willing to invest in the necessary technology and culture change to reap the direct and indirect benefits of doing so.
The two use cases which will be published in the follow-up articles are:
Sibi Nathaniel Grey is an independent Consultant for Digital Strategy, Digital Transformation, Change Management, Business Transformation, Technology, Marketing, Data Science & Analytics. Working directly with clients or with Agencies and Consulting Firms on engagements where he utilises Design Thinking & Business Design to anticipate and solve real business problems. Connect with him at LinkedIn.