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
This is a powerful example.
Barclay’s let’s the crowd choose how profits are distributed to non profits.
U-Haul, being true to their DIY nature, allowed the crowd to fund their own trucks,
“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”
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
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.
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.
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.
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.
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.
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.
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.
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).
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.
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….
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