Attention Economics: Are You Spending or Investing?

Paying attention. You do it all the time–using this incredibly precious resource of yours. Asking others to pay attention, too. But how are you treating this currency?

To spend means to use up. It’s transactional. You pay a price and get some item or experience. There’s little thought of return. It’s generally transient, momentary, brief. When you’re spending your attention, you’re using it on something in the moment: the YouTube video, the to-dos on the “runway,” the email or the instant message. This kind of spending is often impulsive–a little here, a little there–nickeled and dimed in dribs and drabs with no thought as to how the expenditure fits with a larger strategic vision.

Investing is different. To invest means to put in with an expectation of future returns–not merely transactional, this for that. No, investment means gains. ROI. Currency put in the right place now yields significantly larger dividends later. This is asset creation, building for the longer term. It’s intentional, thoughtful, strategic. The stakes are higher; there’s some risk involved. And (potentially) a much larger payoff over the long term.

When you spend your attention, it’s used up. Exhausted. Gone.

©2011 Tara Rodden Robinson, All rights reservedWhen you invest your attention, it’s magnified. Amplified. Maximized.

“Attention, Seth Godin writes, “is a bit like real estate, in that they're not making any more of it. Unlike real estate, though, it keeps going up in value.”

So how about you? How are you contributing to the attention economy? Reckless spending or wise investing?

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