Company Description: a platform that serves as a repository for information on executives from valuable companies across the world.
Problem: Though they attract a lot fo engagement, it’s founders were unable to monetise their platform.
- They haven’t given much thought the intrinsic value of their product. This is something they are yet to realise
- Their platform generates a lot of traffic
- Regardless of the solution that may be derived from this solution, the company needs to understand who its customers are, or could be.
- The customer would need to meet an essential criteria: financial viability
The key to unlocking the commercial viability of any online business is understanding what they have of value to the customer. In this case, the calibre of its users i.e. executives, high net worth, influential individuals with a depth of knowledge about the industries they operate in.
One potential business model would be to partner with willing executives, who value the platform, and agree terms that will enable them to offer advise to startup founders for a fee.
Another would be to utilise the depth of knowledge these executives possess, and curate content for them – thought pieces. Users will be required to pay a subscription fee to access this premium content.
Online platforms need to be assessed from multiple perspectives, in order to be able to uncover their value. It’s trickier for some, more than others.
By: Tola Makanjuola