25A What's Next?
Existing Market:
1. Currently, my service is web-based and the library of information and tutorials is purely available through browser. I think that I clear next step would be to expand my service to be available through an app for download on Android or iOS.
2. Reaching out to more potential customers within my market, I gained some great insight into potential expansion routes for my service. The first person I spoke to suggested that part of my subscription service should be a weekly podcast going over the biggest regulatory events and technological developments. The second student that I interviewed said that a good next step would be to provide spotlight articles in which I interview certain experts within the industry about their respective fields. Lastly, I received the suggestion of creating an information sector on my site that focuses on traditional stock market investment purely for comparison with performance within the cryptocurrency market. After this wonderful feedback, I proposed converting my service to a mobile app to which all three students felt was a very strong move.
3. These interviews were incredibly beneficial as they expanded my vision of how my service can grow as we get a stronger team. I am happiest that I received universal acceptance to the idea of creating a mobile app, but I see no reason why I shouldn’t factor the other suggestions into my plan. Out of all the interview assignments that we have had so far, I feel that this one has given me the most inspiration to move forward with my business.
As adoption rate is the most important goal at the introduction of my service, my first step of action after initial promotion will be hiring developers to convert my service to a mobile platform. Moving forward from there, I think that the next step should be to reach out to industry experts for interviews. I feel that this type of spotlight journalism will help get my business’ name out there and gain additional followers. Next, I would like to greenlight the podcast idea. Podcasts have grown immensely in popularity and it is a great way to provide people with crypto-updates while they are on the road or typing away at work.
New Market:
1. In a radical change from my B2C business model, a possible new market for my service would be B2B. This change would still involve providing blockchain information and cryptocurrency market strategies and updates, however it would be geared towards training the teams of various existing companies.
2. Since the information I am providing is based on technology, the companies that I would primarily be targeting have to be digital services. They may see value in my service as a way of increasing the human capital of their employees. The promotion of my service would shift away from investment knowledge to simply understanding the technology and how it can disrupt certain markets.
3. First, I reached out to a member of the digital marketing company that I have worked for. The manager that I spoke to was very open to the idea as a way to maintain a comparative advantage over competitors. He realized the importance of keeping his team up to date on the latest developments that could alter the way that digital advertising is handled. Next, I reached out to a representative from an online video streaming service. Although she acknowledged the impact that decentralized technology and certain tokens such as BAT could have on changing the way streaming services earn revenue, she did not feel that it was worth the time or money to devote resources to this. In order for my service to be appealing to her, it would need to have a way of showing direct correlation to an increase in revenue.
4. This excersie was an interesting experience for me as I had originally never considered a business to business revenue model. It made me think outside of the box in how to create value in a way that is clear to managers. The tricky thing about this situation is that every manager sees value in a different way and it is often very tough to justify additional spending on training for knowledge that is not directly related to revenue model.
Unfortunately, I feel that there is not enough desire for businesses to educate their teams on blockchain technology. Although certain companies realize the value behind such a service, these are primarily tech giants that are looking for a top-of-the-line training service rather than my onramp designed for beginners. After this assignment, I still feel that my existing market of college students is the ideal choice for my B2C business model.
1. Currently, my service is web-based and the library of information and tutorials is purely available through browser. I think that I clear next step would be to expand my service to be available through an app for download on Android or iOS.
2. Reaching out to more potential customers within my market, I gained some great insight into potential expansion routes for my service. The first person I spoke to suggested that part of my subscription service should be a weekly podcast going over the biggest regulatory events and technological developments. The second student that I interviewed said that a good next step would be to provide spotlight articles in which I interview certain experts within the industry about their respective fields. Lastly, I received the suggestion of creating an information sector on my site that focuses on traditional stock market investment purely for comparison with performance within the cryptocurrency market. After this wonderful feedback, I proposed converting my service to a mobile app to which all three students felt was a very strong move.
3. These interviews were incredibly beneficial as they expanded my vision of how my service can grow as we get a stronger team. I am happiest that I received universal acceptance to the idea of creating a mobile app, but I see no reason why I shouldn’t factor the other suggestions into my plan. Out of all the interview assignments that we have had so far, I feel that this one has given me the most inspiration to move forward with my business.
As adoption rate is the most important goal at the introduction of my service, my first step of action after initial promotion will be hiring developers to convert my service to a mobile platform. Moving forward from there, I think that the next step should be to reach out to industry experts for interviews. I feel that this type of spotlight journalism will help get my business’ name out there and gain additional followers. Next, I would like to greenlight the podcast idea. Podcasts have grown immensely in popularity and it is a great way to provide people with crypto-updates while they are on the road or typing away at work.
New Market:
1. In a radical change from my B2C business model, a possible new market for my service would be B2B. This change would still involve providing blockchain information and cryptocurrency market strategies and updates, however it would be geared towards training the teams of various existing companies.
2. Since the information I am providing is based on technology, the companies that I would primarily be targeting have to be digital services. They may see value in my service as a way of increasing the human capital of their employees. The promotion of my service would shift away from investment knowledge to simply understanding the technology and how it can disrupt certain markets.
3. First, I reached out to a member of the digital marketing company that I have worked for. The manager that I spoke to was very open to the idea as a way to maintain a comparative advantage over competitors. He realized the importance of keeping his team up to date on the latest developments that could alter the way that digital advertising is handled. Next, I reached out to a representative from an online video streaming service. Although she acknowledged the impact that decentralized technology and certain tokens such as BAT could have on changing the way streaming services earn revenue, she did not feel that it was worth the time or money to devote resources to this. In order for my service to be appealing to her, it would need to have a way of showing direct correlation to an increase in revenue.
4. This excersie was an interesting experience for me as I had originally never considered a business to business revenue model. It made me think outside of the box in how to create value in a way that is clear to managers. The tricky thing about this situation is that every manager sees value in a different way and it is often very tough to justify additional spending on training for knowledge that is not directly related to revenue model.
Unfortunately, I feel that there is not enough desire for businesses to educate their teams on blockchain technology. Although certain companies realize the value behind such a service, these are primarily tech giants that are looking for a top-of-the-line training service rather than my onramp designed for beginners. After this assignment, I still feel that my existing market of college students is the ideal choice for my B2C business model.
I also feel this was the best interview assignment as i learned new things to do with my business and thing that I had already put in place that would work. With the ever-changing world around your company, you will certainly have to educate your employees often. B2B, I believe, will be great for growing your company and the amount of business you do. Great job
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