Wednesday, July 13, 2011

The Thank You Economy (TYE) by Gary Vaynerchuk Business Book Review - 6 Beginning TYE Company Ways

Entrepreneur extraordinaire, Internet rock star and Crush It! author, Gary Vaynerchuk, returns with his second book, entitled The Thank You Economy.

The Thank You Economy heralds an era when companies, big and small, are developing authentic, meaningful interactions with customers. Those bonds are nurtured by Web 2.0 technology, known as social media. Consumers are now empowered to make or break a brand or business via these web applications.

Success in the Thank You Economy depends on obsessively caring about the customer, Vaynerchuk says. That concern must originate with a company's top brass and filtrate throughout the organization. To ensure that the correct message is being shared; concentrate first on your employees instead of the competition or customer service. Vaynerchuk describes six strategies on how to incorporate the Thank You Economy in your establishment:

1. Begin With Yourself. Strong self-awareness makes a strong culture possible. Remember who you are, whether you're a CEO, an executive, or a mid-level manager, and the qualities that have produced your current success. It's extremely important as you work towards developing, sustaining and spreading the company culture. Once the Thank You Economy is ingrained in your overall vision and strategy, you can successfully incorporate it throughout your business or department.

2. Commit Whole Hog. Commit mentally first to embrace the Thank You Economy, which includes investing in social media initiatives. Unwavering company leadership determined to create a culture of supersized caring, will persevere during inevitable setbacks.

3. Set The Tone. Leaders committed to building a caring culture; need to send a strong, clear message about their intent. Employees should be able to feel the difference immediately. They should be able to view their leaders as examples of the care, concern and one-on-one customer interactions expected of them.

4. Invest In Employees. Too many leaders insufficiently invest in their employees. They fear losing out when employees leave. Any employee investment you make will be safe if they believe you really care about them and their future. Prove that you value your employees above all else. Give them the freedom to ask for what they want, to experiment and be themselves. Employees who choose to leave for bigger and better positions at other companies are ambitious people. Ideally, you want driven people on staff because they preserveyour company's reputation as a place where people can advance their career. You'll attract the best and brightest talent. When people are happy they want to make other people happy. To make your customers happy in the Thank You Economy; begin with your employees.

5. Trust Your People. Creating a Thank You Economy culture becomes easier as you begin hiring people who share your commitment to caring. Create a culture of openness. Let your employees' blog and tweet as much as they like. Let them be themselves. Authenticity is a vital part of what makes social media initiatives work. If an unhappy employee uses social media to malign your company, question their intent. Today, there is very little an employee can say to hurt your company that you can't fix if you act with speed and good intent.

6. Be Authentic. Legacy trumps everything. People can sense insincerity. Social media often decides how a brand or company survives a false story in the Thank You Economy. It has the power to spread articles, images, video and audio recordings worldwide within minutes.

If you're new to the Thank You Economy experience, or interested in it's latest information, Gary Vaynerchuk, a quintessential entrepreneur and visionary, leads the way.

To read more about The Thank You Economy, visit,

Timothy Zaun is a blogger, speaker and freelance writer. Visit him online at

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