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Best Practices & Trends Online Business Models

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3 Best Practices …

3 Best Practices
3 things you should avoid
3 trends

Published in: Technology, Business

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  • 1. 3x3 Dos, Donts & Trends Online Business ModelsAlexander Talmon & Tobias Günther @talmon, @elaspix
  • 2. Topics● 3 Best practices (Dos)● 3 Show stoppers (Donts)● 3 Trends elaspix
  • 3. Best practices 1● Start with lowest costs and welcome the “Valley of Death” ● Use bootstrapping if you can afford it ● Valley of Death is the time span where you have no income but 100% expensive product development ● Implement features only that your customers desire ● Shape and polish your product in near “stealth mode”● Link: Entrepreneurs Overestimate Their Revenues By Almost 400% (by Kimberly Weisul, May 2011) elaspix
  • 4. Best practices 2● Focus on a product business but start as a service business ● Products mean scalability which means your business model is worth the time you spent with creating it ● Start as service means you need to know what your customers want (Hands on) ● Concentrate on the needs of your customers● Link: What Should You Do with Your Crappy Little Services Business? (by Mark Suster, April 2011) http://www.harting-mitronics.ch/imperia/md/images/lg/hartingmitronics/anwendungen/sensorik/industrial_robots_700_500x374.jpg elaspix
  • 5. Best practises 3● Offer the core of your product for free use ● The cheapest way of advertising if the world finds it helpful ● Generates traffic which helps you with improvements● Link: ● Simfy.de ● Spotify.de http://www.gruenderszene.de/wp-content/uploads/2011/05/Simfy-mit-10-Millionen-Finanzierung.jpg elaspix
  • 6. Show stopper 1● Focus on the one market need, the one product ● Development takes a lot of time ● Build not more as the “minimum viable product” and go testing● Link: The remarkable power of FOCUS (by Radu Ticiu on May, 2010) http://christmasstockimages.com/free/backgrounds/slides/random_trees.jpg elaspix
  • 7. Show stopper 2● Dont set on advertising as your only source of income ● The CTR is declining steadily (from 78% to 0.15%)● Link: Average CTR for Banner Ads (by tomcat66_g500, Sept, 2008) elaspix
  • 8. Show stopper 3● Pitch customers, Vcs, business angels or partners using market needs and customer desires but not with technical features ● This is especially true for tech founders● Link: Sell benefits, not features (by Yaro On March 2006) http://farm4.static.flickr.com/3015/2765083201_55a958db14.jpg elaspix
  • 9. Trends 1● Mass customization and individualization ● Individual products, but industrialized production● Links ● www.yourvideocard.de ● www.spreadshirt.de http://www.yourvideocard.de/produkte elaspix
  • 10. Trends 2● Gamification & Joy of use ● Comfortable Consumption,Video usage increases strongly ● Use new interfaces provided by Native Apps, find out new ways of using technology (mobile) but be careful as the diversity of devices & plattforms is growing ● No barriers (could mean no flash player?)● Link Video-Shopping auf dem iPad (by Stephan Meixner, April 2011) über die Videoaggregation-App ShowYou elaspix
  • 11. Trends 3● Virtual Goods ● Sell products whose shipping costs are zero ● Be careful with duplication (limited number of copies) ● Track their movements so that they get an individual history and “personality”● Link: Spending Money on Nothing (by Holger Mohr January, 2009) http://venturebeat.com/wp-content/uploads/2008/10/headline_-virtual-goods-company-vixim-google-docs-1.jpg elaspix

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