Franchising & Folly platform: Own vs. rent an Idea

September 24, 2009

SethGodinThe more I read about Seth Godin, the more I like his approach.

His post today (The platform vs. the eyeballs) is about owning platforms versus renting eyeballs.

Old media was not the same as old branding. Media companies built audiences and then brands rented those audiences.

Suddenly the new media comes along and the rules are different. You’re not renting an audience, you’re building one. You’re not exhibiting at a trade show, you’re starting your own trade show.

If you still ask, “how much traffic is there,” or “what’s the CPM?” you’re not getting it. Are you buying momentary attention or are you investing in a long term asset?

I only invest in what I own.

This is what I have been doing with this blog (FranchiseFool) and WikidFranchise.org.

That there is an element of foolishness in franchising is apparent to everyone in the world except the industry’s elite. Their lack of humour and intensity signals their unreasonableness much more than I could ever do. They’re phoney-baloneys: it’s true. But they prove it themselves to 3rd parties by their rigidity and inability to take a joke.

I would extend Godin’s McDonald’s analysis to all modern business format franchising when he says:

(Compare these examples with McDonald’s, a company that continues to rent eyeballs for a high price and has no real platform to speak of.)

McDonald’s and the industry just don’t get it: faking sincerity won’t work with internet savvy consumers.

Tribes are looking for authentic voices and leaders to solve real problems.


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