Warren Buffet recently wanted to raise money for a non-profit Association for the Blind in California. He put an offer on EBay promising to have lunch with the highest bidder. The highest bid came in at $1.6 million!
Whomever made the bid felt that an hour lunch conversation with Warren Buffet was worth $1.6 million. Warren Buffet is a wise man and one of the most successful creators of capital. His net worth is $36 Billion. Apparently whoever agreed to a $1.6 million conversation felt they would get at least that value in a luncheon conversation with Warren Buffet.
What Would You Discuss With Warren Buffet?
A wise man named Solomon once said “wisdom is worth all the gold in the land. With wisdom comes knowledge”. Now imagine the conversation with Warren Buffet in which you paid $1.6 million. What would you ask? Would you ask for a stock tip? Would you ask which start up will take off? Or would you talk about the weather or the economy.
Today time and productivity is the value of conversational currency. Whether your a brand trying to push your offering or an individual seeking opportunity, your conversation can pull or push an audience away. The value of your content and the affinity to your audience is the currency of pull.
The wisdom of crowds can give you keen insight, direction and knowledge that creates the wisdom you seek. If you seek revenue you must create value first which pulls people to your conversation. Even creating pull doesn’t guarantee revenue. Revenue comes, over time, from giving and creating value to the market. The market of conversations is a market of knowledge about anything and everything.
An hour of Warren Buffet’s time and wisdom was worth $1.6 million to someone. You might think one of his wealthy friends paid for the EBay bid but the point is his conversations attract lots of capital. People seek him for his wisdom and knowledge. To create conversational value you must provide the market with knowledge they can use. Creating chatter and pushing your message isn’t wise nor does it reflect knowledge that people can use. Get it?
What say you?