Written by: Vickie Sullivan | July 22, 2021
The Rise of the B2B Sharing Economy
The sharing economy’s next target is the B2B industry. Businesses sharing with other businesses is poised to be an incredibly lucrative model for the future, writes Navi Radjou in a recent Fast Company article.
“By sharing their physical and intangible resources with each other, companies can do better with less, that is: generate more revenue while reducing costs and waste,” he writes.
For larger organizations, this is a major change that will require outside assistance, not only on structure but also buy-in and even outreach. It’s good news for organizational development consultants, process people, employment experts, marketing folks, you name it.
The key for B2B companies is determining which lessons from the B2C market to apply and how to apply them. A great starting point could be a readiness assessment.
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Another heads-up: Intangibles such as patents, copyrights, and other intellectual property (IP) could pave the way to licensing deals on steroids. For example, financial planning experts can share with business valuation folks to help business owners after the sale. Or change management experts can share with software companies to ease adoption of new technology.
The article doesn’t include examples of smaller organizations. But make no mistake: We can take advantage of this expansion of the sharing economy.
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