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People tend to confuse the HOW and WHAT, but although they are very different – they dance well together!

This episode is Part 2 of our discussion about the 5 W’s and an H or developing your Why, Who, What, When, Where and How. At the conclusion of this episode, it is my desire that you are able to clearly articulate your HOW.

Business/Organization Models:

OWNERS

#1 Landlord: Owns an asset and profits by charging others for the rent or lease of that asset.

  • Physical Landlord:  Car Rental, Auto Lease, Real Estate
  • Virtual Landlord:  Ad Space on Google or Facebook Ads
  • IP Landlord:  Disney licensing to sell their merchandise
CREATORS

#2 Inventor: Creates new or improves on products/services to be manufactured or sold in the marketplace.

  • Examples would be Thomas Edison, George Washington Carver, Steve Jobs

#3 Research & Development (R&D) Shop: Systematized the process of turning ideas into inventions and is able to produce inventions on a massive scale.

  • Examples would be 3M, IDEO, Pharmaceutical Companies

#4 Artist/Writer/Speaker: Different kind of creator, generally working in a solitary role to create something unique and artistically pleasing such as a book, painting, or sculpture.

  • Also includes Photographers, Journalists, Bloggers, Podcasters

#5 Teacher/Trainer: Individual(s) that teaches or instructs others. The material taught can be created by the teacher/trainer or taken from other creators.

  • Artists, Writers, Speakers, Photographers, Journalists, Bloggers

#6 Content Producer: Very similar to the artist, but is focused more on the production of content or material that is designed to inform or explain.

  • Also includes Technical Writers, Graphic Designers, Web Copywriters, Freelancers, Speakers, Bloggers, Podcasters

#7 Thought Leader: Informed opinion leaders and the go-to people in their field of expertise. They are trusted sources who move and inspire people with innovative ideas; turn ideas into reality, and know and show how to replicate their success.

  • Examples include TD Jakes, Joyce Meyers, Stephen Covey, Malcolm Gladwell, Seth Godin
BUILDERS

#8 Manufacturer: Assembles or builds products for distribution and is skilled at mass-producing on behalf of others or themselves. (Rarely invent, but produce from ideas originated by creators)

  • Examples include Automobile manufacturers, Chinese manufacturers of Apple products (iPhone, iPad, etc.)

#9 Maker: Solves problems through making goods – typically handcrafted products produced on a somewhat smaller scale.

  • Jewelry, handbags, clothes

#10 Engineer: Uses technical skills to build technology that solves problems and sells it.

  • Example is SaaS (Software as a Service) Model:  Mailchimp, Infusion Soft, Gumroad, StudiopressWHOLESALERS0

#11 Wholesaler: Able to aggregate multiple products and provide a diverse distribution infrastructure to support individual manufacturers and enable mass distribution to retailers. (They tend to be middlemen)

  • Examples include Costco, Amazon FBA (Fulfillment By Amazon)

#12 Broker: Facilitates transactions between sellers and buyers, generally without ever owning what is being sold and profiting from a charge on top of the sale price.

  • Physical:  Real estate brokers facilitate the sale of property
  • Financial:  Stockbrokers facilitate the sale of stocks & bonds
  • Virtual:  Companies selling the use of products or services from others like Fiverr, Craigslist, Kickstarter
  • Intellectual Property (IP):  Companies like LinkedIn that facilitate networking opportunities

#13 Trader:  Profits by buying and reselling assets, often by improving or otherwise adding value to the asset prior to sale.

  • Physical:  Comic book stores– Financial:  Fidelity, eTrade, Goldman Sachs
  • Virtual:  Datalogix which aggregates and sell data
  • IP:  Patent trolls or domain name squatters

#14 Traditional Retailer: Profits by selling products and services directly to buyers at a mark-up from the actual cost.

  • Low Cost:  Operates on very low margins at the low end of the market (Kia, Hyundai, Walmart)
  • Cost Plus:  Sustains average margins in the mass market (Toyota, Honda, Walgreens)
  • Premium:  Supports exorbitant margins by maintaining the prestige value of the brand (Bentley, Rolls Royce, Christian Louboutin)

#15 Non-Traditional Retailer: Looks like a traditional retailer but goes beyond individual transactions to maximize customer lifetime value.

  • Freemium:  Offer something of value at no charge to encourage a later purchase like Evernote, Dropbox
  • Long Tail:  Profits from the use or purchase of a deep catalog of products instead of focusing on best-sellers like Amazon, Netflix
  • Razors & Blades:  Offers a free or low-cost razor in the hope of earning a profit on refill blades like Gillette, HP Printers

#16 All You Can Eat: Offers unlimited use of a product/service over a fixed period of time for a flat fee.

  • Examples include Netflix, RedBox, Golden Coral

#17 Subscription: Offers a product or service on a continual basis for a recurring charge, generally weekly, monthly or yearly.

  • Examples include Hulu, Magazines

#18 Mediapreneur: Shares useful content to keep the audience inspired and informed. Sells ads, sponsorships, affiliate programs and accepts donations.

  • Examples include Bloggers, Podcasters, TV/Radio Hosts (i.e. Pat Flynn, John Dumas, Steve Harvey)0

#19 Manufacturer Direct: Allows manufacturers to circumvent wholesalers and retailers, and sell directly to buyers.

  • Apple sells through retailers like Target, through its own retail stores and on its website

#20 Multi-Level Marketing: Earns profit by recruiting salespeople who pay setup fees and are encouraged to recruit additional salespeople to earn a share of a pyramid-like commission model.

  • Examples include Amway, Mary Kay
DIRECTORS

#21 Non-Profit Organizations (NPO): A business organization that serves some public purpose and therefore enjoys special treatment under the law. Nonprofit corporations, contrary to their name, can make a profit but can’t be designed primarily for profit-making. Please note that NPOs need to make money to function and survive.

  • Examples include Associations, Charities, Cooperatives, Faith-based Organizations, Educational, Public Services0

#22 Coaches: Inspires individuals/organizations to higher achievement by listening, asking powerful questions and allowing them to find the answers or guiding them along a path.

  • Examples include Life, Health, Financial, Personal, Relationship, Business, Sports

#23 Consultants: Hired for their expertise at solving problems and providing ideas, processes, and strategies that can be monitored and quantified.

  • Examples include Human Resources (HR), Strategy, Technology, Public Relations (PR), Marketing, Legal, Information Technology (IT), Social Media, Financial/Investments

#24 Government Agencies: Sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions.

  • Examples include Executive, Legislative and Other General Government Support; Justice, Public Order, and Safety Activities; Administration of HR Programs; Administration of Environment Quality Programs; Administration of Housing Programs, Urban Planning and Community Development; Administration of Economic Programs; Space Research & Technology; and National Security and International Affairs

#25 Quasi-Government Agencies or Quasi-Private Corporations: Supported by the government, but are privately owned.

  • Examples will be Fannie Mae and Sallie Mae.

Sources:

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