Here is a scaled down version of my PowerPoint Presentation I made at the World Futurist Society Conference July 9th in Vancouver, British Columbia, Canada. I hope to have the audio of my talk in the next few weeks, stay tuned. The conference was great and I made many new friends, I would like to thank WFS for the opportunity to share, and for an awesome time, well done.
Next year the conference will be held in Toronto July 27th – 29th at the Sheraton Centre Toronto Hotel, register now!
There is much confusion on this model, so don’t make the mistake of taking it literally, you will miss the value of the model. In fact, the model is not the important part, it’s usefulness is to help you change the way you think about business in the future. I was asked what the top 3 points of the Open & Free Business Model were, and I found myself struggling to answer the question. Mostly because there are more than 3 important points, but what a great question. So I have worked through this a bit and now I’m sharing it with you.
I have said many times, this model is not about what we do, a task list or a bunch of action items, it’s about how we think, how we think about business in the next 3 – 5 years, and how it will impact our lives. Having said that, we still have the question of risk, and what level of risk each business can afford should things not go as planned. The Model is actually secondary to how we think or percieve business in the future. Because, if you don’t believe that technology and younger generations want something different than you are offering, it doesn’t matter what I and countless other’s are trying to prepare you for.
The customers of tomorrow want a few things they couldn’t get in the past, control, and businesses are hard pressed to ignore them now that the world is flat. The business world is being forced into a change it doesn’t really want or know how to do, and more importantly, they don’t want to lose control. Not being in control means KAOS, but that’s what consumers are looking for, and it’s where they are.
The Top 3 Points I list here may change from time to time, but the larger picture is that all businesses will need to be Social & Mobile, it’s as obvious as the nose on your face don’t you think? But this model requires a new way of thinking, a new way of how we view open & free, the mechanics or chronological steps are secondary to it’s success. It’s not a rigid plan, it flows, and it’s paying attention to it’s consumers, more importantly, it’s listening.
1.) Attention Is The New Currency. We will all pay with attention, we’ll share, we’ll talk about, and we more than ever today, want attention. Businesses have been clammering for attention since the beginning of time, but now, we the people are in control of who gets that attention. Corps can no longer tell us what’s what, we now have options, and it’s only the beginning. Give a positive experience that is well packaged, and you will have greased the path to getting attention.
2.) Seamless Paywalls, provide access first before demanding payment. People are exchanging ownership for rental or FREE, or what feels like free. Free is hard to compete with, so don’t. The lower the cost, and the easier you make it for a consumer to purchase will win. Someday soon we all will pay rent with FaceBook or Twitter Credits, we will make day-to-day purchases with them as well. It will get easier to pay, and we may never go to a bank again in the near future to make deposits.
3.) Create or provide more content / value than you consume. The best way to be found when the rest of the world arrives here online, is to have large amounts of data (content), useful data (content), people always come back to places they find useful. This data will need to be well tagged in order to be found in the future, if you can not be easily found, you will be ignored. That includes individuals and businesses. Content should be free and be allowed to freely distributed, afterall, you are trying to get attention.
That’s three points, but there are many others, like Growing Bigger Ears, but it’s not that important because the top 3 flow out a handful of other points. Remember, your customers are fickle, and younger generations are constantly regrouping on the fly, making it impossible to control them for any length of time. The Paradigm Shift is between the ears, it’s important to understand that you will have to unlearn what you think you know about business in the future. Oh, Two other points of interest, experience & packaging, give consumers those two as if they are one and see what happens. Check out what Nine Inch Nails did with those two together.
Giving Consumers More Control is paramount, If You Don’t, They will get it from someone else. Corporations and businesses at all levels will have to learn how to trust the people formerly known as consumers.
I’ll be sharing these points and many others on why the future of business will need to leverage the open & free business model, at the World Futurist Society Conference in Vancouver this Saturday morning at 8:30.
I hope you find this helpful, and I would love it if you left your thoughts in the comments area, have a great day!
I ask this question because I want to know, for two reasons:
1. How are you using it?
2. I want to share your story at the World Futurist Society Conference on July 9th.
I am looking for a success story using this model, I have given many examples for you to research and follow here on this blog, but I want your story. Send me an email that describes what you think is working and what is not, I also want to understand your view on the model.
I won’t be able to share all submissions, but I will pick one, it could be yours. Have your submission into me no later than July 3rd, and I will work your story into my presentation which will be unveiled July 9th at 8:30AM. I triple dog dare you to let me share what you are doing with The Open & Free Business Model. I look forward to hearing from you, send me your story here: firstname.lastname@example.org
Remember, do not take the model literally, it’s not a skill set or a list of executables, it’s a new way of thinking, do you get it?
In just 22 days the World Futurist Society Conference begins, approximately 1000 futurists from around the world will converge at
WorldFuture 2011; Moving from Vision to Action.
The Conference is being held at the Sheraton Wall Centre downtown Vancouver, British Columbia. If you haven’t registered to attend this forward thinking conference, get on it, you will learn much from many no matter what your curious about.
If you are fast enough you see my picture in this promo, yep, I’m speaking on Saturday July 9th at 8:30AM on The Future Of Business, see you there:
What I love about going to a futurist conference, or sitting down with other Futurists and innovators is, you will never hear them say your nuts, that’s crazy, or it will never work! There is nothing more energizing than an open mind, a willingness to be taken far from the comfort zone, where would we be if there were no Futurists or innovators?
I can only speak for myself but, have you ever shared an out of the box idea with someone, and they just stare at you with a blank expression? It happens all the time in my community, and I’m older than most of the people I share with in most cases. I mean you would think at 53 years of age I would never talk about the extinction of paper money, the end of the cash register as we know it, that giving your product or service away for free will make you more money than charging for it, or sharing Ray Kurzweil’s singularity vision. It amazes me the masses don’t know what’s happening to them through all these advancements in Technology. If they did pay attention, I’m not convinced technology would advance as quickly as it is. We are far too eager to accept new technologies without seriously considering what the consequences might be.
Now, if you are a futurist or innovator, you have probably felt or thought the same thing at some point in your studies. My focus is on The Future of Business, or commerce. Much of what we know today is leaving us far more quickly than anticipated, but we are struggling to let go of the past. The Gen C kids, under 20 demographic, and the generations to follow, will re-write the rules and laws of business to the point most of us won’t recognize it. I’m convinced they’ll shake their heads when they hear us talk about the future, chuckling under their breath, waiting for us to move on.
Imagine what we would learn if we could get inside their heads, how they view the world, and how they would organize work after we are dead and gone. We would tell them they were nuts, crazy and it will never work, I certain of it.
I would rather we put some future thought into or day-to-day lives, I don’t mean planning your 2 week vacation, we already give that too much attention. I’m talking about how we will learn, how we will work, how we will consume, and how we will provide goods and services. Start spending time around the Gen C demographic and ask them what they see, get around those who are Futurists and Innovators, you will find you have to unlearn much of what you know.
I challenge you to never say the words, your nuts, your crazy, and it will never work. If you are someone who does, you are holding back our future, you are part of the problem and not part of the solution. We have much to do from an energy perspective, the coming water shortage, and possibly a food shortage. In the next 20 – 30 years, we may find ourselves killing others for what we throw away today.
I challenge you to open your mind, to think possibility thinking, creating the impossible, and above all, value the innovators and futurists of today, as they the looking glass of your future.
Which one are you? A possibility thinker, or a person who says it will never fly, it will never work.