"Changing times demand blended platforms and blending markets"
DOUBLE THE WORK! UHG!
Okay, So, you’re a contemporary entrepreneur. But you still appreciate the classics. A pioneer blending through a dense forest who sees new trees. You’d like to start a business. A virtual business that melts into a concrete world.
Let’s say that you want to start a business and develop a “psyc 2.0” app. A smartphone platform that will blend together mental health counselors with app users who may not be able to afford those services. Let's say that you've a dream for a long time to help provide “unconditional care.” Which then becomes you’re company motto. You develop an icon to match, you come up with a color scheme and a mascot. Because let's say that you've experienced a lot of hurt and heartaches in your life and want to help prevent others from experiencing those pains because you've seen it lead to families separated, intoxication abuse, mass shootings, and even worse. You realized a long time ago that money is often a barrier to entry into mental health treatment. You've also seen the problems with classical mental health systems that are absent of positive and encouraging diagnoses. So your goal is to formalize positive psychology and make it accessible to everyone. You hope to balance all of the nearly 250 negative diagnoses like depression with 250 new positive diagnoses like sanity. And for a reasonable cost that's less than traditional counseling advertisements. The contemporary entrepreneur is characterized by time spent analyzing blended platforms, understanding old and new markets, and monetizing the future.
The nature of work is changing according to Bernardin & Russell (2013). Traditional work environments exist alongside contemporary work ecosystems. So while the world of work is changing, it's important to diversify platforms and markets. The basics of a work survey can be the cornerstone of your futuristic activities.
A work survey is the process of gathering information about work and relationships among platforms and markets according to Bernardin & Russell (2013). Creating organizational structure and synchronizations. Bernardin & Russell (2013) reveal five chronological steps, or five great questions to ask ourselves in to discover an effective work survey:
1. What are the platform outputs?
Your "fit" app is free for users to download. Counselors value the app because it gives them a virtually free advertising and credibility billboard plus it lends credible to counseling experience. A work survey looks at the product, service or information and how to measure it. In other words, what futuristic activities does your business produce?
2. What are the raw platform inputs?
In the case of the "fit" app, users who select and talk to counselors online are the inputs. Users love this product because they can freely vent about what's troubling them and also remain anonymous. While counselors love it because they get to offer contemporary positive words.
3. What are the essential tasks, activities, and behaviors required to meet or exceed the output requirements established in step 1?
The essential tasks in the "fit" platform are reading. Users read through a number of mental health counselors to choose one. While counselors read what their clients are saying.
Activities include first seeding the site with producers, advertising the app, and then signing up users. And then writing on the limited social media app back and forth.
Behaviors include venting or needing someone to listen on the user's side. And positive psychology on the producer's side. Both of which can be surveyed on a scale of five stars.
4. What are the competencies (knowledge, skills and abilities) required for activities in step 1 & step 2? What's the necessary equipment?
Counselors on the "fit" app would have to be initially screened and maintain qualifications with their licensing agreement. Likewise, the producers in any app would have to have the appropriate knowledge, skills or abilities to prove the products, services and information that your venture requires. These KSAs (knowledge, skills and abilities) range from platform to platform. A wood carving school, for example, would need less qualified instructors than a medical school.
The equipment for most blended businesses is software. Either software in the form of an app, or a website. And then distribution channels like Google Play are another consideration. Often times, a licensing agreement or operating agreement should be considered. This is not legal advice. It's just that blending equipment also sometimes creates assumed possession and, therefore, incompatible and contradicting fault lines.
5. How should jobs and work be defined?
Counselors with the "fit" could could be credited with delivering "fit" minds. This work could then be defined as exercising fit minds. The producers of your venture, likewise, could have a blended work definition for their jobs. Which also adds value to their profession and opportunity to their potential customers.
The monetization of blended business platforms can have various forms. With the "fit" app, a business plan could might consider users subscribing to a service, producers subscriber to provide free counseling in exchange for subscription advertising, or both could be free and the platform hosts various other advertisements for a small fee.
Because you also know that's where "pay for prevention" is found.
The Platform / Market Blend
But let's say that you’re a contemporary entrepreneur and you know where your niche platform is. A platform blending together with not only the murky concrete, but with the steel bars of jail too. You have a dream of providing “unconditional love.” Which then becomes you’re company's motto. You develop a matching heart-shaped icon, color scheme and mascot. You've experienced a lot of hurt and set-backs in your life from "conditional hate" and want to prevent other people from experiencing the pain-points and set-backs you've experienced. You realize a problem that the classical system is absent of positive and encouraging charges. Your goal is to formalize community credit. To balance the nearly 25,000 negative charges like "fraud" with 25,000 positive charges like "integrity." The life of this entrepreneur might be characterized by time spent analyzing transformation platforms, markets, and monetization.
The Established Network Effects: Monetization 7 New Customer Acquisition
The main operation in either unblended markets or blended platforms is to better understand and service the customer's perspective on the business. Parker & Choudary (2017) wrote the book entitled Platform Revolution. Parker is an Engineering Professor at Dartmouth College. He says, "People don't buy platforms. They buy products and services." It's the value that the business blend delivers. When they affiliate with a platform, they should expect a superior and innovative product, service, or feature.
A value proposition is an innovation, service, or feature intended to be attractive to a business's clientele. A better experience like "fit" healing and prevention. A better product like "child safety files." Even a better price. Or, all of the above.
Are there any "disruptive" spots to consider mitigating along the way? In other words, if one pipeline of clients to one facility always come out categorized with "anxiety" and another facility always categorized with "depression," then how do they question those lines with open and honest collaborations?
Un-blendable Risk Indicators
Indicators are metrics used to measure platforms. A way to formalize the cracks or health of a business. Some common indicators include the growth rate of a user base and the number of producers. Specifically, actively engaged users (AEU) ad actively engaged producers (AEP). It's critical to know if these transactions are daily, weekly, or monthly. Whether these transactions are words, merit, notices, forms, services, products, or what you.
Another metric is the degree with which people who visit the system get something of value from it. A transaction completed matched (CM) fraction to failed match (FM) fraction. In other words, to what degree do people stay with the platform once they go there. The rate at which people leave is also known as the churn rate. A metric that we want to be low.
These are just a few of the metrics which helps blended businesses see if cracks are forming or if collaborations are healthful. Myspace was pretty valuable platform when it first rolled out. Many of us where on board for a moment. However, churn rate in the technology industry is the highest of all industries. Keeping producers and users engaged takes more than an authentic and original experience. Needless to say, Myspace was un-blendable.
DOUBLE THE REWARD! YAH!
Marketing - Who's already There?
When seeding or otherwise financing a market for your new blended business, it's important to know who's already there and where's that low-lying fruit - those simple customer acquisitions?
In the case of the "fit" app, for example, who's already there?
Well, that may seem obvious that there are already companies out there trying to blend psychology with customers and potential customers. But it's also fitting to be the best provider of linking the two that you can be. You want to be the prized app funnel to get providers to users as possible. And this may mean just being a referral service or an affiliate to start.
In the case of customer care, who's already receiving help and might be looking for alternative improvements?
In other words, who, as far as blend-able customers, are ready for your blended business? Where's you prime target market to start your productions around and that prospect funnel?
And how long will it be before your "fit" app is much more excellent than any of your competition can be? When will you niche equal fully paid results, and for how long?
THATS A BILLION DOLLAR BUSINESS BLEND!
Bernardin, H. J., & Russell, J. E. A. (2013). Human resource management: an experiential approach. New York, NY: McGraw-Hill/Irwin.
Evergent Team. (2018, March 6). Are You Winning the War Against Churn? Retrieved from https://www.evergent.com/2018/02/05/winning-war-churn.
Hlova, M. (1970, January 1). Employee retention in IT outsourcing companies: Ukraine and the World - N-iX. Retrieved from https://www.n- ix.com/employee-retention-outsourcing-companies-ukraine-world.
Johnson, B. (2019, August 5). Customer Churn: What Is It? And How Do You Reduce It? Retrieved from https://blog.useproof.com/customer-churn.
Parker, G., Alstyne, M. V., & Choudary, S. P. (2017). Platform revolution: how networked markets are transforming the economy and how to make them work for you. New York: W.W. Norton & Company.