Likeonomics
The Unexpected Truth Behind Earning Trust, Influencing Behavior, and Inspiring Action
By: Rohit Bhargava
Published: May 22, 2012
Format: Hardcover: 184 pages
ISBN-10: 1118137531
ISBN-13: 978-1118137536
Publisher: John Wiley & Sons, Inc.
"The biggest crisis in our world today is one of believability. It makes it tougher to build a successful business, find and keep a job, or convince anyone to do or believe in anything", writes Marketing Professor at Georgetown University, Rohit Bhargava, in his refreshing and engaging book Likeonomics: The Unexpected Truth Behind Earning Trust, Influencing Behavior, and Inspiring Action. The author describes the paramount importance of likability and trust in today's marketplace, employment environment, and in society in general.
Rohit Bhargava understands the timeless wisdom that people do business with those who they know, like, and trust. The author points out that somehow this critical knowledge of human nature was left neglected by too many business people. In a world where marketing messages, wall to wall advertising, and fast talking sales representatives have stretched believability beyond the breaking point, that vital trust was lost. As a result, trust and believability are at all time lows in modern society, despite the evidence that likeability has more value than logic or price to the customer. Rohit Bhargava presents important ideas for restoring trust, rebuilding that likeability factor, and returning basic human values of honesty and trust to organizations.
Rohit Bhargava (photo left) recognizes that likeability is the real currency of the modern global economy. With likeability as the currency, and honesty as the unexpected force, trust can be built to develop long term relationships. The author offers evidence that the current economic instability is really a crisis of believability and a loss of trust. Through honesty and believability, customers will prefer the companies and people who they know, like, and trust. For the author, this simple truth creates an unbeatable competitive advantage, as well as developing more engaged employees, and enthusiastic customers.
To build this new likeability culture that resonates with customers and employees, Rohit Bhargava provides his five principles of likeability, that he calls TRUST. The five TRUST values are as follows:
* Truth
* Relevance
* Unselfishness
* Simplicity
* Timing
For me, the power of the book is how Rohit Bhargava combines timeless wisdom, with modern behavioral economics and psychology, to present a series of transformational business principles. The author provides solid evidence that traditional values of honesty, truth, and being liked by others are the foundation blocks of a successful organization. With the current crisis in the economy demonstrating how a lack of trust completely destroyed some companies, this book is an important wake up call for business leaders everywhere.
To support his concepts, Rohit Bhargava shares real life case studies of the TRUST principles creating some hugely successful companies. Likeonomics is destined to replace the greed principle as the underlying focus for business in the next decade. In many ways, this book represents a return to the path that worked for businesses for generations. The return of this age old wisdom is due, and this book encapsulates that renewed approach, to the benefit of firms, employees, customers, society, and the overall economy.
I highly recommend the destined to become classic book Likeonomics: The Unexpected Truth Behind Earning Trust, Influencing Behavior, and Inspiring Action by Rohit Bhargava, to any business leaders, entrepreneurs, organizational executives, and customers of any company who are seeking a clear and concise description of why being liked and trusted forms the basis of any lasting relationship. This book will change your thinking of how a business should be operated, and you will rethink the failed ethos of dishonesty that has penetrated the culture of so many companies.
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