Roger Hamilton just complete his ‘Fast Forward your Business’ Tour to Japan, England and South Africa. The tour was a resounding success, and gave the 1,000+ entrepreneurs who attended an insight into the top 10 trends that will impact their business in the coming year.
The second of Roger Hamilton’s Top 10 Trends is the concept of ‘friction is fiction’. We are moving from a paradigm of creating channels of delivery and barriers to entry, where profit comes from controlling and channeling flow, to a world where these channels and barriers are breaking down.
“In a land where rain is scarce, whoever has control of the water source can charge for the water and channel its delivery. This was the old paradigm of all channels, whether media channels or delivery channels. Once rain is plentiful, however, those who control the water source suddenly find themselves redundant. That’s what is happening in the world today. Whether you are seeking entertainment, education, information, resources or connections, it’s started raining.” – Roger James Hamilton
The implication of that we are moving from the power of production to the power of consumption. It isn’t who has the means of production, but who has the trust of the market, that wins. The growth of mobile platforms and payments means that everyone is a potential store front with the ability to profit from whatever products they want to offer. The growth of social networks means that people aren’t as interested in advertisements as recommendations. They aren’t as interested in corporate PR as customer reviews. This loss of friction doesn’t just mean institutions still relying on the means of production will fall, but governments who rely on barriers to raise taxes will also increasingly fail.
What can you do about this? Ensure that you have mobile platform to sell your products, and that your customer base becomes your primary asset and sales platform. Set up an affiliate or rewards program that enables them to be rewarded and recognized for recommending your services to their networks. Change focus from protecting your property to giving value for free, and build a business based on your top 20% of customers who will keep coming back to you for more.
To gain far deeper insights into the power of these trends, visit www.wealthdynamicscentral.com and buy the 90 minute video of Roger Hamilton’s Top 10 Trends.
The second of Roger Hamilton’s Top 10 Trends is the concept of ‘friction is fiction’. We are moving from a paradigm of creating channels of delivery and barriers to entry, where profit comes from controlling and channeling flow, to a world where these channels and barriers are breaking down.
“In a land where rain is scarce, whoever has control of the water source can charge for the water and channel its delivery. This was the old paradigm of all channels, whether media channels or delivery channels. Once rain is plentiful, however, those who control the water source suddenly find themselves redundant. That’s what is happening in the world today. Whether you are seeking entertainment, education, information, resources or connections, it’s started raining.” – Roger James Hamilton
The implication of that we are moving from the power of production to the power of consumption. It isn’t who has the means of production, but who has the trust of the market, that wins. The growth of mobile platforms and payments means that everyone is a potential store front with the ability to profit from whatever products they want to offer. The growth of social networks means that people aren’t as interested in advertisements as recommendations. They aren’t as interested in corporate PR as customer reviews. This loss of friction doesn’t just mean institutions still relying on the means of production will fall, but governments who rely on barriers to raise taxes will also increasingly fail.
What can you do about this? Ensure that you have mobile platform to sell your products, and that your customer base becomes your primary asset and sales platform. Set up an affiliate or rewards program that enables them to be rewarded and recognized for recommending your services to their networks. Change focus from protecting your property to giving value for free, and build a business based on your top 20% of customers who will keep coming back to you for more.
To gain far deeper insights into the power of these trends, visit www.wealthdynamicscentral.com and buy the 90 minute video of Roger Hamilton’s Top 10 Trends.
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