BFY.12 (BUILIDNG IN FRONT OF YOU) BUSINESS MODELS AND POST PANDEMIC FORMULA - WILLIAM EASTMAN

Hopefully my enthusiasm for the topic won't get lost in the weeds. This is one area where what is essential to large corporations and small companies is the same. My personal opinion as well as that of many of my former colleagues, agree that the founder must get this right - you must know what business models will allow you to create and capture the most value.

INTRODUCTION
Before we start let's define a business model: the term business model refers to a company's plan for making a profit. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. Business models are important for both new and established businesses. They help new, developing companies attract investment, recruit talent, and motivate management and staff. Established businesses should regularly update their business plans or they'll fail to anticipate trends and challenges ahead. Business plans help investors evaluate companies that interest them. (Investopedia)

KEY TAKEAWAYS (Investopedia)

• A business model is a company's core strategy for profitably doing business.
• Models generally include information like products or services the business plans to sell, target markets, and any anticipated expenses.
• The two levers of a business model are pricing and costs.
• When evaluating a business model as an investor, ask whether the idea makes sense and whether the numbers add up.

OBJECTIVE

1. What are IBGR's business models and why those choices?

WHAT YOU NEED TO KNOW
As we stated in Season 3 (Oct-DEC 2020), IBGR had 2 challenges - creating supply with OnAir Talent (Hosts) and demand with listeners (Members). Well that is somewhat true. Initially we do have what is called atwo-sided problem (supply & demand) but reality it is a multisided problem with hosts and listeners just the first of several problems to solve.

Some Referent Information:

• EPISODE A.004 BUSINESS MODELS
• E5.003 (REIMAGINE YOUR BUSINESS) DIGITAL BUSINESS MODELS & PLATFORMS - WILLIAM EASTMAN
• E5.004 (REIMAGINE YOUR BUSINESS) THE NETWORK EFFECT - WILLIAM EASTMAN
• E5.005 (REIMAGINE YOUR BUSINESS) BEYOND ROBUST - BECOMING ANTIFRAGILE
• E5.006 BUILDING SCALE WITH OUTSOURCING - WILLIAM EASTMAN
• E5.007 (REIMAGINE YOUR BUSINESS) YOUR ALLIANCE STRATEGY - WILLIAM EASTMAN​
• E5.008 (REIMAGINE YOUR BUSINESS) ESCALATING RELATIONSHIPS - WILLIAM EASTMAN
• E5.009 (REIMAGINE YOUR BUSINESS) PULLING IT TOGETHER - WILLIAM EASTMAN

Here is our multi-sided (at the moment 4) problem to build the business on.

• Build core capabilities and processes to;
• bring hosts into the system by using our platform to enhance their marketing efforts;
• as we outsource the marketing function to a partner agency;
• which will build the listener base and host marketing collateral;
• for conversion from passive listener to active subscriber and utilization of host services;
• then integrate all information on a data management platform;
• to micro-target clients for advertzing partners.

WHAT YOU NEED TO DO
IBGR's 7 Steps Solution for Each Side of the Problem

1. Finding Suspects
2. Invite Suspects
3. Presenting to Suspects
4. Follow-up with Prospects
5. Closing Clients (Talent, Subscribers, Partners, Advertizers)
6. Onboarding the Relationship
7. Cohesion Events

"Business Solutions At Your Fingertips"

1. ​Join our Facebook Group
2. Join our LinkedIn Group
3. Download the mobile APP​