ignite potential – value exchange networks (stephen gay and rich radka)
DESCRIPTION
What does every successful start-up, venture capitalist and savvy designer know? It’s that “value exchange networks” have the power to ignite massive human potential to grow business and delight consumers through connected services. If you’ve checked in with Foursquare, rated a seller on eBay, or answered a question on Quora, then you’ve participated in a value exchange network. So what are value exchange networks? They are networks in which the value is co-created and exchanged in a decentralized and distributed way by all participants – consumers are transformed into creators, promoters, problem-solvers, and even co-owners. Today most industries are being transformed by leveraging these value exchange networks. Services are shifting from an era in which companies created and delivered monolithic offerings to passive consumers, to an era in which services exist as networks of value co-creation. In this new landscape, lines separating consumer and company are dissolving, and companies are acting as enablers of value creation, discovery, and exchange rather than solely creators and distributors.TRANSCRIPT
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Value Exchange Networks Igni9ng Poten9al
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Who is…
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Claro Partners Intuit Bryce
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Tradi9onal Value Exchange Network
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What is a Value Exchange Network?
is a system where value is co-‐created and exchanged -‐ in a distributed way -‐ by a network
of par9cipants.
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Who’s used
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How Airbnb works
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How is AirBnb a Value Exchange Network
What’s the Opportunity?
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How is AirBnb a Value Exchange Network
Host
I have extra space and I want to make some money to pay my rent/mortgage.
Guest
I want to travel and stay in a unique space, and I have a limited budget.
Enabler
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The Value Proposi9on
AirBnb allows people to list and book unique accommoda9ons around the world.
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The Benefit
Host
Hosts can list everything from a spare bed to an apartment or house and find renters to pay them for their extra space. Hosts earn an average of $4-‐5K/year ren9ng out for 4 nights/month.
Guest
Guests can find a variety of accommoda9ons (from bed to house to castle) filtered by price and property aVributes, typically 10-‐50% cheaper than a hotel.
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The Igniter
Launched with 2008 Democra9c Na9onal Conven9on in Denver. Emailed every blogger and told them about Airbnb. Leveraged that to get CNN. Remarketed to
guests to spread the word & become hosts.
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Sustainability
Post More Accommoda9ons
Greater Selec9on
More Reviews & Word of Mouth
AVrac9ng More Guests
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The Results
500% growth in worldwide bookings in 2011
5 million
nights booked since 2008
Accommoda9ons in 19,000 ci9es & 192 countries
Airbnb surpassed Hilton in number of rooms booked last year.
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Value Exchange Network
Trust
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Who’s used
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How Kickstarter works
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What’s the Opportunity?
I like connec9ng with crea9ve people by suppor9ng their projects.
I have a project idea and need a simple way to collect money from my network and beyond.
Funder Creator
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The Benefits
Funders are able to get to know the creators of unique projects through videos & tes9monials and par9cipate through a range of funding op9ons.
Creators are able to list a project and a variety of funding incen9ves through a secure collec9on service.
Funder Creator
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The Igniter
Seeded the network and subsidized the creator: Ac9vely recruited ar9sts to submit projects and offered the service free to them.
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Sustainability
More Creators, More Projects
Greater Selec9on
More Funders
More Projects Funded
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The Results
Nearly $320 million pledged
More than 2.2 million people pledged cash
More than 18,000 projects were successfully funded
Kickstarter now raises more money than the Na;onal Endowment for the Arts
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Four Guiding Principles
1. Uncover the Opportuni9es
2. Be an Enabler
3. Know the Roles
4. Ignite the Value
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1. Uncover the Opportuni9es
Ask “What are the opportuni9es?” Who are the two target customers?
How do they interact in the world today?
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I’m new to the network and need help selng up my phone.
I’m always helping friends with their technical issues.
Novice Customer Experienced Customer
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2. Be an Enabler
Ask “What can be exchanged?”
Exchange Types Resources Knowledge Capabili9es Connec9ons
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I’m a na9ve English speaker, but would like to learn Spanish.
I’m a na9ve Spanish speaker.
Student Teacher
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3. Know the Roles
Ask “What are the roles?”
What are the Consumer, Producer and Enabler Roles
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3. Know the Roles
Enabler Roles Host Crowd-‐Gatherer Network Enhancer
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I’m looking to get a return on my money and have some security.
I’m looking to borrow money, that tradi9onal banks won’t lend me.
Lender Borrower
Enables group lending for both the lender and the borrower.
Enabler
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4. Ignite the Value
Ask “How can you get it started?” Ignite Types Price subsidies Seeding content AVrac9ng marquee users
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I’ve mastered the game and want to create new challenges.
Game Creator
I’m looking for the next great game experience.
Gamer
Enables gamers to create levels and share with the community.
Enabler
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Four Guiding Principles
1. Uncover the Opportuni9es
2. Be an Enabler
3. Know the Roles
4. Ignite the Value
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People don’t want to fit into tradi;onal roles.
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Stephen Gay [email protected]
twiVer: stephengay
Rich Radka [email protected]
twiVer: richradka