The Passion Economy by Adam Davidson - A Review
"Do not be a commodity. Do not be easily comparable to other people who have, roughly, the same set of skills and the same background. The rule may be simple, but its history and implications are incredibly rich...
"In the workplace, you can become a commodity by, say, working long hours without adding extra value to the job you are performing. Once you stop asking how you can set your business or products or even yourself apart from the commodity version, you have dropped out of the Passion Economy."
The Passion Economy is a clichéd title for a book. However, there is nothing clichéd in its contents. This is a book that points out a shift in thinking with regards to how we work and conduct business in today's technological age. It explains how this shift can benefit anyone trying to make a living.
The Passion Economy documents the successes of multiple entrepreneurs who stopped thinking about their product as a commodity but instead, narrowed their focus and created a service for a few customers instead of the masses.
WHY I LOVE THE BOOK
There are multiple examples of businessmen and women who stopped behaving like a big company and decided to produced an item or create a service that showcases what they are good at. Such stopped creating products for everyone and chose a narrower niche rival firms are unwilling to invest in due to complications and size.
The author tries to convince us that unlike people who set prices in line with their competitors or the prices of raw materials and similar expenditures, we should put our prices at the same levels as the value we are delivering to our customers. He believes though this may cut down the number of customers we serve, it will eventually leave us with those who value our services and are willing to pay for what they are getting.
The author did not show us examples of those who failed in this path.
WHO IS IT FOR
Anyone over 15-year-old looking to understand what it takes to make a business work or how to stand out as an employee. Anyone stuck in a rut and wanting to know what others did to become an indispensable staff might find this book illuminating.
Many thanks to Knopf for a review copy.