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Banking on Digital Growth Podcast

Citizenship Leads to Ownership: Finding Community in a Networked World (with Penny Power)

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Brief Summary of Episode #294

In 1998, Penny Power came to an unsettling conclusion: too many businesses lacked real community.

So the Business is Personal author left a rewarding career in IT to help leaders understand why community matters to their brands. She says that starts with educating them on what it’s not — networking.

“A community has to have values and stand for something for the citizens to be very proud of,” Penny argued. “I use LinkedIn. I wouldn’t say I belong to LinkedIn.”

Penny says business leaders need to take note of the damning effects a feeling of seclusion can have on team members and clients. That’s especially true in a busy social media space where people feel more disconnected than ever.

“People have lost a sense of belonging. They don't feel significant to others. Their self-worth is low,” Penny said “You don’t have that when you’re in a community.”

So how can financial leaders give people that feeling? By getting in their shoes.

When you’re building a community, you have to look at it from a citizen’s point of view,” Penny said. “What are the pains and needs of our citizens?”

Through community, we can help each other heal common people’s pain. 


Key Insights and Takeaways

  • Empathy and collaborating to achieve results through community (6:42)
  • Why financial leaders struggle to build communities (22:24)
  • Gaining ownership through the power of citizenship (37:34)

How to Connect With Penny Power