Seth Godin “Trust Is Even More Scarce Than Attention”

By | 2014-08-18T14:03:19+00:00 May 9th, 2012|Rules of Thumb|3 Comments

Here are my top seven from Seth Godin’s list of 21 ways to make money online. (original numbering preserved).

3. Get rich slow. [link added]

Slow means that you are not impatient and don’t cut corners. It also means you are confident

4. Focus on the scarce resource online: attention. If you try to invent a way to take cheap attention and turn it into cash, you will fail. The attention you want isn’t cheap, it’s difficult to get via SEO and it rarely scales. Instead, figure out how to earn expensive attention.

5. In addition to attention, focus on trust. Trust is even more scarce than attention.

Trust doesn’t scale, it’s built up by repeated interactions over time. That’s what makes it so important.

7. Don’t quit your day job. Start evenings and weekends and figure it out with small failures.

Having a plan for taking affordable losses means that you can play the game longer and learn more.

9. Obsessively specialize. No niche is too small if it’s yours.

15. Hang out with people who aren’t looking for shortcuts. Learn from them.

I am always looking for way to be more productive but I expect it will take a lot of hard work just to maintain the status quo.

17. Make money in the small and then relentlessly scale.

I like this list, it incorporates his premise that permission leads to attention, and attention leads to trust when the communication is personal, anticipated, and relevant.

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