Seth Godin

Most of all, money is a story

27 February 2014

From Seth Godin’s Blog:

Money’s pretty new. Before that, we traded. My corn for your milk. The trade enriches both of us, and it’s simple.

Money, of course, makes a whole bunch of other transactions possible. Maybe I don’t need your milk, but I can take your money and use it to buy something I do need, from someone else. Very efficient, but also very abstract.

. . . .

Most of the time, when we’re buying non-commodity items, we’re asking ourselves questions like:

  • How much pain am I in right now?
  • Do I deserve this?
  • What will happen to the price in an hour or a week? If it changes, will I feel smart or dumb?
  • What will my neighbors think?
  • Does it feel fair?
  • and, What sort of risks (positive and negative) are involved? (This is why eBay auctions don’t work for the masses).

Pricing based on cost, then, makes no sense whatsoever. Cost isn’t abstract, but value is.

Link to the rest at Seth Godin’s Blog

Indies talk a lot about ebook pricing. Big Publishing complains that Amazon and indie authors have devalued books. PG agrees with Seth that, at bottom, value is abstract.

The Mirror and the Periscope

14 February 2013

From Seth Godin:

A long time ago, real estate developers figured out that one way to save a lot of money was to put a mirror in the lobby next to the elevator banks. People would happily look at themselves in the mirror while patiently waiting for the elevator… meaning that the developers could get by with one fewer (expensive) elevator.

If we want to, we can turn social media (and our day) into a giant mirror. “I wonder what they think of me?”

. . . .

On the other hand, social networks now give us a better opportunity than ever to find out how other people are doing. “I wonder if Trish is happy?” “I hope that those protesters have enough blankets.” “Are our children learning?”

Link to the rest at Seth’s Blog

Does Kickstarter work as a platform for books?

1 January 2013

From Seth Godin:

THE THEORY: The hardest part of book publishing is getting the first 10,000 copies of a book read. After that, the book either resonates or it doesn’t. It’s talked about, handed from person to person, used as an example in a book group–or it’s not. Sure, you can add more hype, but at that point, you’re pushing water uphill. I’ve always focused on how my books do their second month on sale, not the first month. The first month is a testament to the author’s ability to self promote, which is far less interesting.

THE TACTIC: Kickstarter seems custom made to solve the 10,000 copy problem. The author with a tribe can reach out to her readers, activate them and make an offer: if enough of you agree to buy this book today, I’ll write it and send it to you just before a publisher puts it on sale…

. . . .

IN PRACTICE: The Kickstarter platform is a bit of a nightmare for the independent author. I’m not sure I could find the intestinal fortitude to use it again. There are significant structural flaws in the way information is collected and used that virtually guarantee that 5% of the readers who use it will end up disappointed or need a lot of handholding. What should be consistent and coordinated ends up failing at both. And the cost of fulfillment and international shipping is high enough that it’s likely no money will be made (which is fine if the other elements fall into place).

The good news is that the enthusiasm and support that early adopters bring to the table is extraordinary. This is an untapped human need, and people (some people, anyway) really enjoy the role of patron and early supporter.

Link to the rest at The Domino Project