'The Passion Economy' author explains the shifting American economy - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

5 steps to building a thriving niche company that will reap more financial rewards than if you spent your time chasing growth

," he had no idea that the predictions he made about a new economic system ushered in by automation and technological advancement would happen so quickly.

According to the "Planet Money" cofounder and journalist, the passion economy combines artisanship and scale with the connectivity afforded by the internet. This new business landscape can be divided into two main camps: the massive, scale-oriented corporations and the niche, targeted entrepreneurs. Davidson calls the new distribution "barbell-shaped."

Business owners create intimacy by discovering their niche audience and then engaging with it, launching dialogues that allow entrepreneurs to better meet the needs of their clients. Through technology, business owners can have direct relationships with customers all across the world, meaning they no longer need to live near somebody to do business with them.

This is a foundational concept of the passion economy and the natural byproduct of Davidson's first two mottos. In "The Passion Economy," he cites

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump makes a $500 billion economic appeal to Black Americans - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. “Its fair to say President Trump has done a lot for black Americans. President Trump’s record with minorities is one that any President would want to claim after 3 years” Major Garrett CBS News (12-29-19) He really thinks black folks are THAT stupid. I believe Biden would make Juneteenth a holiday too. This shouldn’t convince any black Americans that Trump cares.
Source: BusinessInsider - 🏆 729. / 51 Read more »

How to get a job at Instagram in 2020, according to insiders - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. That’s really interesting
Source: BusinessInsider - 🏆 729. / 51 Read more »

England's pub, bar curfew will 'devastate' businesses, industry warns - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Well, the virus doesn't seem to be active before 10pm Gee. Imagine what an out of control virus will do to business. Kill the customers and no one will do any good. But yeah...priorities I guess herman6x jam 10 msh protes....
Source: BusinessInsider - 🏆 729. / 51 Read more »