Digitisation explained
A video series for small business owners and entrepreneurs working through digital strategy.
My view then, and still: digital platforms give rise to networked communities, and the network effects between users disrupt supply chain economics and change customer behaviour. The platform economy gives every user a channel for feedback, which puts a voice in the hands of customers and employees alike, and that feedback drives leaner processes and lower costs on both sides.
Subscription models give customers real-time access to products and services as they need them, without the upfront capital and ongoing maintenance that ownership carries. Suppliers get predictable, measurable annuity income in exchange.
My favourite line on the trade-off: the economics of subscription outweigh the egocentricity of ownership. It captures the tension between the usage and convenience we get from services and the materialistic pleasure we get from owning things.
Given the interdependencies digitisation creates, it is an interesting time to be an owner, an employee or a customer, because the interests of all three are becoming more aligned than they have ever been.
The essays behind this →