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BG215: The Secret to Preparing for the Call: the 5 W’s and an H-Part 2

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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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Anita "AC" Clinton

Purpose-Strategist, Author, Speaker, Podcaster

Hi and thank you for stopping by my site. If you are in search of or looking to advance your purpose, you are in the right place. Come on, let’s do this!

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