I always read news about business and technology and I\’m fascinated by the pace of innovation in this age of information technology. How a business grow into multimillion dollar projects from a simple idea is simply inspiring.
I found this slide from SlideShare and it\’s been around for a while now but I want to share my thoughts about these business models. If you haven\’t seen it, I embedded it here in my post.
PatientsLikeMe.com: community platform for patients
The idea is brilliant because it is free and they actually ask permission from users that they are gathering data. Pharmaceuticals pay large amount for this data that can be used for research and medicine development. I think you can easily recreate this model for popular and basic consumable products.
Flattr.com: a service to structure donations for content
I idea that simple clicks allow you to share or receive money sounds like a scam but Flattr actually works like a micropayment system. It\’s a notch above Facebook \”like\” button because as Flattr describes it \”with a flat-rate fee, you can flatter people.\”
Groupon.com: a broker platform with exclusive discounts
The no cure, no pay strategy is something new to me and when I first found out about Groupon I didn\’t think it was for real until the news pick up that bigger companies are actually bidding for Groupon! From the slide I also learned they are getting 50% of the revenue from the promotion. My jaw just dropped.
Spotify.com: ad-based freemium model
How I wish I live in Europe so that I could enjoy this service. Soon US will get a taste of Spotify, too. Get ready iTunes.
PayWithaTweet.com: paying with the value of your social network
I like the idea. How many times do people blog about products and services without getting any incentives? At least with this service, you simply tweet about a product and get the product in exchange of exposure. I\’m actually willing to try this service.
HumbleBundle.com: pay-what-you-want formula
I\’m not into this kind of pay-what-you-want thing because I don\’t like spending too much on trivial things (well that\’s the point isn\’t it?) so if given a chance, I\’ll put minimum value on every items that I\’ll buy. However, what makes this interesting is that it let buyers control on how the money is divided or used on charity or other organizations.
Free with in-app sales: cross selling strategy
This is a recycling of freemium model in free-to-play MMORPGs. You get the app free (game, software, etc) and when people get hooked they buy credits to purchase virtual good that would enhance the already addictive experience. It\’s a trap!
Quirky.com: co-creation + e-shop
This is the first time I heard of Quirky.com and the idea that anyone could be an inventor is what I like about this model. For people oozing with ideas (even the crazy ones), I strongly recommend this one. You have to pay to pitch your ideas but I read that the fee had been reduced to a measly $10. Seriously, if I would sit down and focus on a problem that I want to solve and will help many people, there should be a viable market for it.
Airbnb.com: one-sided matchmaking platform
I like how it is integrated with Google maps. After a few trials on how it works, I wish I\’ll see more services like this.
Kickstarter.com: market for fund seekers
For hardcore business people, this is a breakthrough because now you\’ll get more access to people willing to fund project ideas. I\’m not sure what is the success rate of businesses funded through this method though.
I thank boardofinnovation.com for putting this online for free. I hope they\’ll publish more of these.
How about you? Do you know more business models that were successful last year?