The Future of Business Models #FutureOf
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The document discusses the shift towards a collaborative economy where businesses must adapt to changing consumer behaviors and preferences by becoming more purposeful, local, and personalized. It highlights the rise of sharing startups that empower individuals to bypass traditional corporate models, leading to a demand for on-demand services and collaborative consumption. Brands that successfully embrace these changes, engage with communities, and focus on shared value will emerge as resilient in the evolving market landscape.
The Future of Business Models #FutureOf
- 1. COLLABORATIVE ECONOMY The Future of the Business Model By Jeremiah Owyang, Chief Catalyst
- 2. COLLABORATIVE ECONOMY Question: How can brands be resilient during times of great change?
- 3. COLLABORATIVE ECONOMY 1. How have business models been disrupted? 2. What are the changes companies must make? 3. Which brands are leading with new business models? QUESTIONS WE’LL ASK AND ANSWER
- 4. COLLABORATIVE ECONOMY BUSINESS IS CHANGING
- 5. COLLABORATIVE ECONOMY DISRUPTION HAS BEGUN Do you remember when Social Media meant that sharing ideas disrupted the media and communications industry?
- 6. COLLABORATIVE ECONOMY DISRUPTION CONTINUES The next phase of sharing is taking place in the physical realm. People are sharing goods, services, time, space and money.
- 7. COLLABORATIVE ECONOMY ECONOMIC UNCERTAINTY GIVES US PAUSE Governments and businesses struggle to find a clear economic path, while people are learning to depend on each other to be self-sufficient.
- 8. COLLABORATIVE ECONOMY TECHNOLOGY POWERS PEOPLE TO BE SELF-EMPOWERED New startups are using powerful social data, mobile apps, and smart phones to enable people to connect to each other.
- 9. COLLABORATIVE ECONOMY PEOPLE ARE BECOMING LIKE COMPANIES – BYPASSING TRADITIONAL CORPORATE MODELS A COLLABORATIVE ECONOMY Hotels vs. Taxis vs. Restaurants vs.
- 10. COLLABORATIVE ECONOMY EVEN “OCCUPY” HAS A BUSINESS MODEL These new sharing startups enable people to get what they need from each other instead of from big corporations. Source: Digital Trends
- 11. COLLABORATIVE ECONOMY BIG COMPANIES ARE SLOW TO CHANGE, LEAVING THEM VULNERABLE
- 12. COLLABORATIVE ECONOMY NEW MARKET DESIRES CHANGE BUSINESS METHODS
- 13. COLLABORATIVE ECONOMY THE OLD WAY THE NEW WAY 1. Maximize profit 2. Global Marketplaces 3. Standardize Offerings 4. Slow delivery of goods 5. Consumerism 6. Passive customers 1. Purposeful brands 2. Local (and Global) 3. Personalize 4. On-demand 5. People make & share 6. Empowered people
- 14. COLLABORATIVE ECONOMY Deloitte studies show that “Millennials” seek companies that have a purpose and social mission beyond just profit. 1) PEOPLE WANT A PURPOSE They are about one-third of the American workforce. Boomers seek to retire soon. They want companies with a purpose. They seek sustainability.
- 15. COLLABORATIVE ECONOMY Sharing startups, like Airbnb, Uber (funding over $260m by Google), Google Shopping Express and Postmates, deliver goods and services at the local level. 2) LOCAL MARKET DELIVERY TRUMPS GLOBAL Uber moves idle goods at local levels to be delivered to others on demand. Uber can start to compete with Amazon. Local merchants and homes win.
- 16. COLLABORATIVE ECONOMY People can now make and customize their own goods using Shapeways 3D-Printing service. CustomMade is a network of “Makers” that are ready to produce to scale. 3) PERSONALIZED GOODS AND SERVICES More products will soon be customized to your needs and preferences, printed on demand. Online marketplaces like Etsy and CustomMade scale. One size no longer needs to fit all.
- 17. COLLABORATIVE ECONOMY Location-based apps and mobile devices empower local delivery on- demand. Uber, Google, eBay, Walmart, PostMates, Instacart and Deliv power instant to hourly delivery. 4) ON-DEMAND MEANS THAT REAL TIME MATTERS A battle over same day delivery is happening between Google, Walmart, eBay and others. Amazon’s fulfillment centers must compete with local. The crowd speeds delivery, enhancing service.
- 18. COLLABORATIVE ECONOMY People are consuming less. Instead, they are using marketplaces to re-use and recycle. Those that can make, will build and share. 5) DON’T CALL THEM CONSUMERS. THEY MAKE AND SHARE. People can now re-use goods using Nextdoor.com and Yerdle.com to gift to friends. Techshop enables people to become Makers of their own products. The crowd functions like a company.
- 19. COLLABORATIVE ECONOMY The people have become like a company, getting what they need from each other and bypassing inefficient institutions. 6) THE CROWD IS EMPOWERED Using social networks, they connect with each other instantly. They are becoming like a powerful company. The crowd functions like a company.
- 20. COLLABORATIVE ECONOMY WHAT COMPANIES ARE LEADING THE CHARGE?
- 21. COLLABORATIVE ECONOMY THESE BRANDS THAT ENABLE SHARED VALUE:
- 22. COLLABORATIVE ECONOMY PURPOSEFUL BRANDS PROVIDE SHARED VALUE Millennials (and beyond) want companies to have a purpose. Corporations must think more about community and environment.
- 23. COLLABORATIVE ECONOMY GIVE PEOPLE PURPOSE Toyota 100 Cars for Good Program – The program awards 100 vehicles to 100 deserving nonprofit organizations over the course of 100 days based on votes from the public.
- 24. COLLABORATIVE ECONOMY MISSION-DRIVEN FUELS SOCIAL ADVOCACY Pepsi Good is a community of people who have a purpose.
- 25. COLLABORATIVE ECONOMY ENABLE THE CROWD TO CONTRIBUTE The crowd chooses how funds are distributed to non-profits in this example of Barclays.
- 26. COLLABORATIVE ECONOMY ENABLE THE CROWD TO CONTRIBUTE GE partners with Quirky for crowd innovation.
- 27. COLLABORATIVE ECONOMY CROWD FUNDING MEANS SHARED RESULTS – THE HIGHEST STATE OF LOYALTY U-Notes are sold in increments of $100 over the Internet with an asset-backed feature and make quarterly payments (interest and principal).
- 28. COLLABORATIVE ECONOMY RECYCLING HARNESSES NEW BRAND LOYALTY H&M encourages recycling of old clothes to reduce the environmental impact of the fashion industry.
- 29. COLLABORATIVE ECONOMY PRODUCTS FOR RENT – NOT JUST FOR SALE People can rent cars from BMW with the DriveNow program, instead of buying a car.
- 30. COLLABORATIVE ECONOMY EXPERIENCES ON-DEMAND FUEL NEW BUSINESS MODELS W Hotel and DesksNearMe partner for on-demand workspaces.
- 31. COLLABORATIVE ECONOMY GENTLY WORN MARKETPLACES TAP MOVEMENT Patagonia partners with eBay to encourage second-hand usage of goods – beyond selling new.
- 32. COLLABORATIVE ECONOMY LOCATION-BASED TECHNOLOGY ENABLES SHARING RelayRide enables people to share privately owned cards, using OnStar.
- 33. COLLABORATIVE ECONOMY NBC SPONSORS GIFT ECONOMY Yerdle.com is a place where thousands of people give and obtain things for free from neighbors – avoiding retailers.
- 34. COLLABORATIVE ECONOMY REAL TIME DELIVERY FROM LOCAL MERCHANTS Google Shopping Express provides local delivery from merchants, challenging Amazon. Rapid delivery, right to your home.
- 35. COLLABORATIVE ECONOMY RETAILERS PARTNER WITH ETSY “MAKERS” Etsy and West Elm have partnered to discover emerging artists.
- 36. COLLABORATIVE ECONOMY MAKERS EXPAND PRODUCT EXPERIENCE A community of Makers from CustomMade has partnered with Lincoln Motors to build matching jewelry for new car owners.
- 37. COLLABORATIVE ECONOMY CROWDS ARE BECOMING LIKE COMPANIES Co-funding new products like Kickstarter.
- 38. COLLABORATIVE ECONOMY NIKE CO-OPS PRODUCT DESIGN WITH CROWD Nike offers co-design products, allowing you to customize the shape, color, style, and fit, with thousands of options available, personalizing at scale.
- 39. COLLABORATIVE ECONOMY BRANDS ENABLE 3D PRINTING FOR MASS PERSONALIZATION Nokia offers 3D files, enabling custom cases to be printed at Shapeways
- 40. COLLABORATIVE ECONOMY THE OLD WAY THE NEW WAY 1. Maximize profit 2. Global Marketplaces 3. Standardize Offerings 4. Slow delivery of goods 5. Consumerism 6. Passive customers 1. Purposeful brands 2. Local (and Global) 3. Personalize 4. On demand 5. People share/make 6. Empowered people ONCE AGAIN….
- 41. COLLABORATIVE ECONOMY Companies that meet these new market needs, become Resilient Brands They are: innovative, agile, empowering, built to last, and profitable.
- 42. COLLABORATIVE ECONOMY • The market seeks purposeful brands, local, personalized, on-demand models. • The crowd is becoming like a company – bypassing inefficient corporations. • Corporations must use these same strategies and tools to regain relevancy. • To do this, companies must embrace a business model change. • Corporations that partner with the empowered people become resilient. FINAL TAKEAWAYS
- 43. COLLABORATIVE ECONOMY Takeaway: Brands achieve Resiliency by collaborating with the empowered people for shared value.
- 44. COLLABORATIVE ECONOMY Crowd Companies Empowered People & Resilient Brands for Shared Value Jeremiah Owyang Chief Catalyst, Founder @jowyang [email protected]
Editor's Notes
- #10: The people are empowered! (to get what they need from each other --phasing companies) Now they turn homes into hotels with airbnb, cars into taxis with lyft, kitchens into restaurants with cooking, spare money into banks with lending club.
- #11: Occupy finally has a business mode (they now have the tech, from FB, Google, Apple, and wealthy VCs) Before, people felt they were not getting shared value. Some were getting wealthy while others were falling into poverty. Now, they have new technologies that enable them to get what they need from each other, bypassing big organizations.
- #15: http://www.deloitte.com/assets/Dcom-CostaRica/Local%20Assets/Documents/Estudios/2012/120124-cr_Millennial_Survey_2011.pdf
- #25: Companies are shifting to mission or impact driven. People want companies to have a purpose and mission. H&M has a recycling program http://about.hm.com/AboutSection/en/About/Sustainability/Commitments/Reduce-Reuse-Recycle/Garment-Collecting.html
- #26: This is a powerful example. http://www.barclaycardring.com Barclay’s let’s the crowd choose how profits are distributed to non profits.
- #28: U-Haul, being true to their DIY nature, allowed the crowd to fund their own trucks, http://www.uhaulinvestorsclub.com/AboutUs/ “U-Notes are sold in increments of $100 over the Internet with an asset-backed feature and make quarterly payments (interest and principal). These are SEC registered securities with full recourse to the issuer AMERCO, and US Bank as the third party indenture trust” http://seekingalpha.com/article/1625112-u-hauls-crowdfunding-model-for-diy-investing-interview-with-amercos-jim-shoen?source=google_news
- #29: Companies are shifting to mission or impact driven. People want companies to have a purpose and mission. H&M has a recycling program http://about.hm.com/AboutSection/en/About/Sustainability/Commitments/Reduce-Reuse-Recycle/Garment-Collecting.html
- #34: http://greenstart.com/blog/2013/05/23/share-and-tell-yerdle-teams-with-nbc/
- #42: Please format.