The Double Edge Sword of Exclusivity: The GLEe Model for Building a Successful Product Vision

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Sep 02, 2023

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The Double Edge Sword of Exclusivity: The GLEe Model for Building a Successful Product Vision

Introduction:

In the world of social tokens and exclusive communities, a paradox arises - the need for appreciation through new members while maintaining exclusivity. This social token paradox poses a challenge as the growth of new members can diminish the exclusivity and social value of the group. However, there are ways to navigate this double-edged sword and build a successful product vision that addresses these criticisms. This article explores the concept of exclusivity and the GLEe model, offering actionable advice for product leaders.

Understanding the Social Token Paradox:

The social token paradox begins with the creation of an exclusivity-based community using a social token. Initially, early entrants acquire tokens, leading to token appreciation. New members reinforce the idea of exclusivity, further increasing the group's social value. However, there comes a threshold where the growth of new members starts to decrease the social utility and exclusivity. Despite this, the token price continues to rise as new members are compelled to acquire tokens. Ultimately, new members are incentivized to recruit more members to ensure token appreciation. But, at a certain size, the value of exclusivity diminishes, leading to members selling the token for profit or due to decreased exclusivity/utility. This cycle continues, reaching an equilibrium before starting anew.

Different Forms of Exclusivity:

Exclusivity can take various forms, each with its own benefits and drawbacks. Some common forms include:

1. Performance or Accomplishment Exclusivity:

Membership is granted to individuals who have completed tasks in various DAOs or have achieved certain milestones. This tiered membership based on accomplishments can bring together individuals from different communities into a single DAO or community, fostering collaboration and shared goals.

2. Time Exclusivity:

Membership based on time aligns with long-term players and adds an element that cannot be gamed or financially purchased. Combining time membership with accomplishments can create a sense of dedication and commitment, encouraging members to actively engage with the community.

3. Experience or Service Exclusivity:

Exclusivity based on experience or service can be a powerful way to create value within a community. By offering unique and valuable experiences or services to members, the sense of exclusivity and social value can be enhanced. This can include access to specialized content, mentorship programs, or exclusive events.

The GLEe Model for Building a Successful Product Vision:

The GLEe model provides product leaders with a framework to think big, think long-term, and build a product that leaves a lasting impact. It encourages teams to ask, "What's next?" and fosters an optimistic, anything-is-possible attitude. By thinking 3-5 years ahead, product leaders can envision a future where most things are possible. The model goes even further, urging product leaders to think 10-15 years ahead, creating a roadmap for long-term success.

The GLEe model highlights the importance of not trying to do everything at once. Instead, it emphasizes finding a high-level product strategy that supports multiple phases of a company's growth, creating a significant advantage that is hard to replicate. Netflix serves as an example, establishing a hard-to-copy network effect through its device ecosystem. As the company expanded globally, personalization played a crucial role in connecting members with movies they loved, transcending national boundaries.

Actionable Advice for Product Leaders:

  • 1. Embrace long-term thinking: Encourage your team to think beyond immediate goals and envision a future where your product or company can lead the industry. By thinking 3-5 years ahead, you can uncover new opportunities and stay ahead of the competition.
  • 2. Develop a phased approach: Rather than trying to accomplish everything at once, create a high-level product strategy that supports multiple phases of growth. This allows you to build a strong foundation and capitalize on emerging trends in the market.
  • 3. Foster a culture of innovation: Encourage your team to explore new ideas and challenge the status quo. By fostering a culture of innovation, you can continuously adapt and evolve your product to meet the changing needs of your customers.

Conclusion:

Exclusivity can bring value to communities based on shared goals and purposes. While there are challenges in maintaining exclusivity while growing a community, the GLEe model offers a solution for product leaders. By thinking big, thinking long-term, and developing a phased approach, product leaders can build a product vision that "dents the universe." Incorporating different forms of exclusivity, such as performance, time, or experience-based, can further enhance the social value of the community. Ultimately, by combining the concepts of exclusivity and the GLEe model, product leaders can navigate the double-edged sword and create a thriving and impactful community.

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