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Sharing News & Community Updates

The Sharing Economy in 2018: How You Can Participate

December 19, 2017

As 2017 draws to an end, we close the book on a year when the Sharing Economy began its journey to the mainstream. Not a week went by when the sector was out of the media: revised reforecasts from PWC and Merrill Lynch upgrading the sector’s value and importance, multiple InsureTech start ups joined the ranks of Sharing Economy stalwarts GuardHog and MAIF, coverage of Uber’s (personnel, driver, data, licensing...) woes became a seemingly weekly occurrence, co-working spaces became the destination for freelancers and start ups around the globe, and the much anticipated (if underwhelming) Taylor report said what we all knew, that gig working and the Sharing Economy is not so much the Future of Work but the Now of Work.

 

Moving into 2018, we anticipate movement in the opposite direction, with mainstream businesses, cities and transportation increasingly joining us in the Sharing Economy. The benefits, values and potential of the Sharing Economy are becoming apparent to the wider economy, including the corporate giants who dominate the FTSE100, as the limitations of consumerism squeeze growth projections and dwindling resources (economic and environmental) impact our ability to plan, manage and sustain our societies without considerable changes to the way we live and do business.

 

At The People Who Share we work with our partners in commerce and the community to build wealth through transformation. We guide and educate our partners about the Sharing Economy, but also work with them on their Sharing Economy journey with practical solutions that result in success. Our approach is to support participation in the Sharing Economy through dynamic consultancy work and sector knowhow tailored to our clients’ needs. We help businesses and municipalities do more with less and to engage with a whole new generation of people, Generation Share[1] as we like to call them.

 

As our seasonal gift from us to you, we’d like to share a few basics to help all businesses and organisations to participate and succeed in the Sharing Economy:

 

  1. Trust – the single biggest factor for succeeding in the Sharing Economy is trust. Trust by organisations in the people they provide for, and trust by users/customers in the businesses they interact with. Our research shows that 90% of people believe trust is important in the brands they choose yet only 10% of brands are trusted. To be accepted in the Sharing Economy means trusting and being trusted.

 

  1. Values - the Sharing Economy represents more than a platform economy, it’s about ensuring a better use of resources, enabling micro-entrepreneurs and empowering communities. Those who succeed in the Sharing Economy are those who strive to create different kinds of wealth – economic, societal and environmental.

 

  1. Community – at the core of the Sharing Economy is the focus on creating, maintaining and participating in a community. Generation Share values its peers to advise and inform, experiences to create special memories, co-operation as a way of living, trust guided by the voice of the crowd. Powerful brands are built by the crowd not by an agency.

 

By Chief Communicator, Clare Kandola

 

[1] A term coined by Chief Sharer, Benita Matofska and the title of her forthcoming book due for publication in Sept 2018 by LID publishing. 

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