E5.004 (ReIMAGINE Your Business) THE NETWORK EFFECT - WILLIAM EASTMAN

Not a tactical model like attending a 'networking' meeting, it is a business model that uses addition and multiplication to build value.

INTRODUCTION
The Network Effective is one of the Strategic Models we are using to build the IBGR Network.

OBJECTIVES

1. Understand how businesses with no real tangible assets are valued more than traiditional businesses
2. How to make the Network Effect one of your business models

WHAT DO YOU NEED TO KNOW
The first is OPEN SOURCE SOFTWARE
Although we are not a software company we are using the same principles as linux when building the basic code of the business - our IP.  Our Intellectual Property is the total of 4 decades in the consulting business, both large and small companies, and both in the consulting and executive roles. 

The second is the NETWORK EFFECT
That is the subject of this show I leave it to the body of the notes.

The third is DEMAND BASED PROGRAMMING
Since we have a huge dbase of knowledge, techniques, and tools from our combined consulting and executive experience, the goal if Demand Based Programming is to sample our customers, the listening audience, and build 13 weeks of shows that help them realize aspirations or deal with pain points.

The Network Effect
                            P = I(F x R x U x V) / D x N

• P = Perceived Value
• I = Influence
• F = Frequency
• R = Relevance
• U = Uniqueness
• V = Value
• D = Distance
• N = Size of Community (Tribe)

WHAT DO YOU NEED TO DO
The Essence

1. Build social networks to reduce the DISTANCE between you and the members, and between the members to increase the networks INFLUENCE;
2. by increasing the FREQUENCY of contact, make sure the information is RELEVANT and UNIQUE,  and creates long-term VALUE - not just one time consumption;
3. Within your social network keep all posts and discussions focused and reward testimonials and comments to increase the NUMBER of active members.

"The World of Business at Your Fingertips" ​

1. ​Follow the "ReIMAGINE Your Business" Series all season.​
2. Join our private Facebook Group and go way beyond what is possible on radio
3. Get your business growth news everyday from IBGR.News​
4. DOWNLOAD the IBGR Growth App
5. RESEARCH anything related to Starting, growing, or Exiting a business on the IBGR Network