Wed. Apr 24th, 2019

Eight steps for your business to tackle the collaborative economy | Trends

Eight steps for your business to tackle the collaborative economy | Trends


We live the most important business moment of the last 200 years. The world will change in the next five years more than in the last 100, which is a challenge for everyone. Not only as parents, children, citizens or consumers that we are; also for managers and creators.

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Companies are now five years away from disappearing. Proof of this is that, according to a DEC study of more than 25,000 surveys in 15 sectors, there are none of them of which more than half of the clients speak well.

The conclusion is clear: if the sectors do not react, they will disappear. Survival is about reinventing their business model, transforming the way they earn money and giving much more to the client through new channels and experiences. The big question is how to do it. How to make the inevitable collaborative economy the source that transforms your business.

For this, we have deconstructed this path in 8 steps that will guide us to success:

  • 1. Increase the customer's desire to pay

This is no longer advertising machacona. This is only achieved by increasing the value that you give to your client, understanding him with the sole purpose of improving his experience; giving it convenience, service, ease, emotion and Taking advantage of technology to bring the satisfaction of your need to its highest level.

  • 2. Low the desire to charge from the provider

In this there is almost nobody, except those who were born for it. Uber knows that his first client is the driver; for Airbnb, it's your host. Because if they do not give them real reasons to work with them, they will not have cars or houses to offer. And for that, you have to make an effort of maximum empathy and know them to lower their economic and emotional costs. In short, to improve the experience of your provider.

  • 3. Create your value proposition in the union of interests of both parties

If you choose to take advantage of the collaborative economy, your site is in the union of the wishes of the customers and the wishes of the suppliers. If you are able to understand and satisfy both of them, you will have created a business that merges both parties, you will increase the customers' willingness to pay and you will have reduced the desire to charge from suppliers. It is in that double difference where your margin is. If not, look at the results accounts of Uber, Airbnb or Idealist and you will see how profitable it is.

  • 4. Build a business around the passions of the people

The consequence of carrying out this purpose is very simple. As account FelixOberholxer-Gee, professor of business administration at Harvard Business School, if my value is in uniting, I must first understand what moves people beyond money. If I choose people who are passionate about driving or receiving tourists, two things will happen: the first is that it will cost less to do their job; the second, that it will do much better and the client will notice. So, once again, you lower the desire to charge and you increase the client's desire to pay.

  • 5. The first one takes everything

The bad thing about having a model that unites both parties is that it forces you to be the first. Because the client will go where the houses or cars are already. And cars will go where customers are already. It is a model that feeds itself iteratively and forces you to be very fast to meet the digital standard: First takes it all. Translated: The first to arrive, it takes everything.

The bad thing about having a model that unites both parties is that it forces you to be the first

  • 6. Think big, think of IoT

To succeed today, thinking about your business is key. That's why you must satisfy your client and your supplier from now on. But this is not enough, we must go further. Today, almost everything happens through the union of data and sensors of what you have at your fingertips. So, if you think about how to integrate that into your business, you will know the way today, but also how to direct tomorrow.

  • 7. Create your minimum viable product

Now that you know how you are going to be older, work on what you are going to do now to be the first. A good way to start is to reduce your business to the essential need of the client and the provider that you are going to cover today. To achieve this, launch yourself to it now. Only then will you guarantee that you are the first.

Do not forget to take the steps to learn from your customers and have the technology that allows you to be great to cover the entire world and reinvent it. There are times in life when you have to adapt or die and this is one of them. The context calls for transformation, requires reinvention and needs change. And that's where companies must live up to: not only to focus on the customer experience, but also on the experience they offer their suppliers.

Because, undoubtedly, the union of the interests of both will lead us to create a proposal of value and a business model that, in addition to meeting the needs of both actors, revolve around what truly moves people: their passions. Only then will we achieve things that do not exist today and that will lead us to a better world.

Alberto Córdoba is a partner-director at Lukkap Customer Experience

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