You know the business world is being turned on its head, even the old terms have a new meaning. This is not new, I’ve talked about this before, but today it’s become more real and in your face. Today it’s called pay for performance, the old name was called, “commission”. You got paid a commission for your performance, of what you sold. Today you get paid for something you do, not what you sold.
Businesses rely on transactions, the old way meant something was sold, a product or service was exchanged for money. Today, money is changing, it’s not hard cash that get’s exchanged, it can be as simple as a barter. It can be a new form of payment, pay with a Tweet, pay with finishing a mission on Empire Avenue, it’s no longer cash as we know it. What we used to call it a favor, is now a new kind of transaction. Today, merely referring someone reaps a reward. Your business now has to find ways to embrace these new transactions….and they aren’t that new, we’ve been doing them most of our lives, they now have a new reward. And I haven’t mentioned Bitcoin yet : )
How do you define pay for performance today, the old way, or the new social way? What do you believe to be the new social currency?