AGR2.11: START HERE - A CONNECTION BIZ MODEL - WILLIAM EASTMAN

Season 5's Internal Theme - Building on AGR2.09 - The First Element of Being Successful in a VUCA World.

IBGR Profit Radio - A Network of Entrepreneurs for Entrepreneurs

Introduction
Let's start here - Digital Biz Model. This business design or model is much more that putting everybody on a platform. It is how you build the skeleton of scalability, the focus is on how to enhance platform relationships. You have a range of choices from FREE to Subscription and many more. Those decisions secondary to how are you going to use technology to build and enhance interactions.

The second biz model is more externally focused. The value provided is based on the size of the network; the number of people, products, and services that are now available. Additionally, because of the iterative nature of the network, the interactions and use of products & services leads to continuous improvement of everything and its  enhanced value.

Why Is This Important
VUCA! Volatile, Uncertain, Complex, and Ambiguous describes the world we operate within. We can complain or use it as an opportunity. These business models are build on a VUCA business environment.

Today we are focusing on #1 Connectivity as a Business Model, not attending a networking meeting.

What Do You Need to Know
Digital Biz Model

• Value Proposition or Unique Selling Proposition: your obsessions;
• Value Chain of cooperative organizations and individuals: who should be in your network to make it one-stop;
• Revenue Model: how are you going to monetize the network?

Network Effect Biz Model

• Direct Effect: increase in members increases the value of being a member - more players, more connections;
• Indirect Effect: the increase in value effects different members differently

What Do You Need to Do

1. ​Build product & service features that provide relevant, unique, and long lasting value to members
2. Focus on value chains - yours, supply side, demand side
3. Create a biz model that maximizes digital and network effects
4. Based on reach and available capital, determine a sustainable go to market strategy
5. Be small and act large - agile with economies of scale
6. Excel at something that provides competitive advantage

Next

If you want more, attend our Season 5 Summit - April 6th at 7pm EST, April 7th at 8am AEST.

If you miss the event, checkout the IBGR YouTube channel

"The World of Business at Your Fingertips" 

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5. RESEARCH anything related to Starting, growing, or Exiting a business on the IBGR Network