By Bill Teh
1. Lifestyle replaces products
In the future, lifestyle will be sold instead of products. For instances, Nokia dismissed the iPhone and didn’t think it was a threat at all. They perceived the iPhone as a mobile phone and as a mobile phone, it was expensive, and the quality was not good. The truth is, Apple is selling a lifestyle instead of mobile phones. The iPhone can be used to watch movies, shop, chat, share, listen to music and play games. Those who buy products are called customers, those who buy whatever the company sells are called followers.
2. Transaction subsidies replace revenue
Every company will become a platform for others to do business. Educate them on how to manage their business and make profit, and once they have achieved these, you’ll earn a small fee from their income. Twenty years ago, Alibaba set its mission to make it easy for business owners to do business anywhere. Today, Jack Ma is the richest man in China.
3. Free concept replaces high price
In the past, products were sold at higher prices to make money. In the future, the purpose of selling expensive products is to let customers buy the products free of charge. Which product is more expensive – the one with a price tag of $50 or $500 or $5000? What if the product costing $5000 can earn you $10,000 or the payment for the $500 product can be fully refunded or the money spent on the $50 product is totally spent? Now which one is the cheapest?
4. Outsourcing replaces cost
Today, some people rent out their houses or part of their houses to, for example Airbnb. In the future, employees will become partners in the company and companies will not need to spend on salaries. The office will be useless as all staff will work from home. We are entering the shared economy era, where the work within the company (e.g. accounting, human resources and manufacturing) will be outsourced.
5. Users’ promotion replaces sales
In today’s business, the users are the best sellers. You users can help you to share and promote your products. So, make sure your business shares its benefits with the users.
6. Sharing replaces advertising
In the future, you will not need to advertise your business. The best advertisement is the word-of-mouth marketing. Today, people spend all their time on social media, such as Facebook, WeChat and Instagram. In the future, if you want to promote and publicise your products, you only need to spend the word to your circle of friends and soon most of the companies will advertise for you.