Perhaps it is time to refocus your business model
#zigwithchicke
When I saw it, this beautiful picture of a mountain lake in Hallstatt, Austria inspired me. No, not to travel there (yet), but to talk about refocusing business models.
There is no better time to look at your business model than during a down time. What served you well in the past may not be working now. So what do you do?
In this header photo, you may just focus on the camera lens, understanding the link to the article topic or when you see the picture of Hallstatt, your first response may be "oh, I want to go there".
Wouldn't it be great if the organization or individual that published this photo would provide you a way to actually plan a trip to visit?
Well, in the past, that has just been too hard. You would have to first write about how to get there and where to stay and what to do (aka become a blogger). Oh and you would have to find an audience to inspire (easier said than done). Then it is up to the reader to check it out and then perhaps plan their visit, including booking a room nearby.
My company decided to tackle that challenge and in a really simple way, give photo and video publishers, media companies and bloggers a way to help their readers to engage and experience the content. As a bonus, we give them a revenue stream and we donate to their charity of choice, all from our revenue stream from the bookings. So by adding new capability an a new business model, it is a win-win-win. The consumer gets to go to this spectacular location, the client gets to add value to their content and we get a revenue stream that we share with the client.
So how about you? Do you have products or services that could be reframed within a new business model to reach a larger audience?
I just got off the phone with a company trying to sell me appointment setting services. They may be the absolute best at what they do and worth whatever it is that they charge. But now isn't a good time for my company to engage them.
Those of you that know me know that I couldn't resist posing the opportunity to them that introducing us to the right prospects, using what they already do as their core, and taking a revenue share could give them 1000x the revenue stream as their current model.
The model I'm discussing is called gain share and it is not new. It requires complete. confidence in your service provision and a clear fit with your existing base. But if you do it right and are prudent about your vetting of the company, it can provide exponential growth to your revenues.
We'll see if they are open to discussing a new model. I am in for relationships that produce the win-win-win. New value, new revenue streams, all based on innovation and giving.
If you want to explore shifting your model (even if it is just temporary), PM me. I'm game.