Move Over Influencers, Here Come Curators: Reid Hoffman's Two Rules for Strategy Decisions

Move Over Influencers, Here Come Curators: Reid Hoffman's Two Rules for Strategy Decisions

In today's modern world, aspiration is no longer about having the money to buy things, but rather having the taste and knowledge to know what to buy. This is where curators come into play. We trust curators because we believe they have spent time and effort developing their expertise in a particular niche. They have become the new breed of aspirants who want to share their taste and turn their social and cultural capital into economic gain.

Being a coveted curator of a cultural niche, whether it be menswear, streetwear, luxury fashion, design, food, or travel, conveys a sense of distinction and social standing. Curators often choose to remain anonymous as a way of boosting their credibility. They are not after sheer reach and volume of followers; instead, they value the quality of their followers within their niches.

For a brand or an individual looking to become a curator, there are four starting points to consider. First, define what you're trying to accomplish from a business perspective. What are your objectives? Second, define the point of view and story you want to tell as a brand. What makes you unique and different? Third, determine how you will convey this story to your target audience. What strategies will you employ to effectively communicate your message? And finally, create an execution plan to put your ideas into action.

One factor that plays a significant role in curating is values. Filtering brands within a category based on their values, such as gender equality, sustainability, and diversity, can simplify decision-making when faced with similar products. By aligning your brand with specific values, you can attract like-minded individuals who resonate with your message.

Curators also use various mechanisms to select and organize items within their niche. Some rely on their knowledge and expertise, while others take into account the cultural moment or atmosphere. The story behind a product or brand can also be a determining factor in its inclusion within a curated collection. Hobbies, interests, location, trends, hype, personality, celebrity, price, and even heritage, ritual, and tradition can all play a role in the curation process.

Now, let's shift our focus to Reid Hoffman and his two rules for strategy decisions. Reid's first principle is speed. He believes that if you're not embarrassed by the first version of your product, you shipped too late. In the world of startups, you must be willing to take risks and move quickly. It's like throwing yourself off a cliff and building an airplane on the way down. To embrace speed, managers must communicate to their teams that tradeoffs are acceptable. A 10-20% error rate is tolerable if it means moving fast.

Reid's second principle is simplicity. When faced with numerous options, he groups them into categories like "light, medium, heavy" or "easy, medium, hard." He emphasizes the importance of having one decisive reason for making a decision. If there isn't a clear reason, it's likely not worth pursuing. Nassim Taleb, a renowned thinker, once wrote that if you come up with a long list of reasons to do something, you're trying to convince yourself. Instead, focus on the one clear reason that drives your decision-making.

To conclude, becoming a curator in today's digital age requires defining your objectives, telling a unique story, strategizing your communication, and executing your plan. Incorporating values, knowledge, cultural moments, stories, hobbies, trends, and other factors into your curation process can enhance your credibility and attract a quality following. And when making strategic decisions, remember Reid Hoffman's rules of speed and simplicity. Embrace the need for speed, even if it means accepting some foot faults along the way. And always strive for simplicity, ensuring that there is one clear reason driving your decisions.

Three actionable advice:

• 1. Define your objectives and the story you want to tell as a brand or individual curator. What makes you unique and different?

• 2. Incorporate values into your curation process. Filter brands based on their alignment with gender equality, sustainability, diversity, and other important values.

• 3. Embrace the need for speed in your decision-making process. Don't be afraid to take risks and move quickly, even if it means accepting some errors along the way. And always strive for simplicity, focusing on one clear reason for making strategic decisions.