Due to technological advances, the rate at which industries are being re-imagined and re-structured has hit the LOAR (law of accelerating returns).
Due to technological advances, the rate at which industries are being re-imagined and re-structured has hit the LOAR (law of accelerating returns). Concrete advancements no longer bring industries forward one step at a time, but in fact, serve as new foundations or precedents upon which the speed of growth can be multiplied.
In this article, we will look at how successful entrepreneurs on the leading-edge of this wave of progress have adjusted their industries to allow for exponential growth in today’s digital and sharable world.
In real estate, a prime example is the innovative real-estate appraisal platform Zumbly. Zumbly has tactfully responded to the shifting factors in real-estate provided by Airbnb, Trulia, and the short-term stay economy by including such considerations as:
- Airbnb rental earnings
- Subletting earnings,
- Home swap opportunities
- Geographical demand for vacation stays
into the appraisal value of properties on their website. Through the process Zumbly- led by founder Jeb Carty– is adapting the real estate market to today’s sharing economy- giving millennial consumers an accurate idea of investment value according to the lifestyles they want to lead. According to Carty: Millennials don’t want to be chained to a 30 year note, millennials want be debt free and have the flexibility to do what they want.”
Thanks to Zumbly’s modern perspective, the industry at large has a new gold-standard precedent in place to build from in projecting the value of real estate to millennial consumers.
A second major field where considerations of contemporary needs such as share-ability have led to disruption and brand new gold standards, has been in retail and point of sales. San Diego entrepreneur Nick Yates, the CEO of Generation NEXT, a publicly traded company under the symbol OTCBB: VEND, has spearheaded the wave of development here by introducing robotics and automated customer service into many retail businesses that offer do-it-yourself vending options.
For instance, Nick and Generation Next developed a vending robot service- Reis & Irvy- for frozen yogurt shops that serves six different flavors of frozen yogurt, ice cream sorbets and gelatos with six topping options to customers within 60 seconds.
Since its inception in 2016, Generation Next has already deployed over 200 vending robots and written over $160 million in contracts, establishing a brand new precedent for point of sales retail that is now beginning to expand at an LOAR into other retail markets such as grocery stores and appliance shops.
The direct to consumer world has also begun to adapt its dynamic with customers to accommodate contemporary consumer interests, creating more share-ability and total earning power.
A prime example here is the innovations of health and wellness entrepreneurs Marc Wachter and Tim Toobin. In identifying the prevailing interest of many consumers today to become digital influencers and get involved in the growth of the brands they use, Wachter and Toobin took a very desirable, EWG certified wellness brand Live Ultimate and open it up for consumers to build their own shareable business models around.
Unlike traditional affiliate marketing, Live Ultimate’s version has been positively transformed by transparent product quality, brand reputation, and sales commission paradigms. This allows founders to do what they’re great at- creating innovative products- and for today’s ambitious, business hungry market to get actively involved in marketing it and earning from it.
Wachter has astutely recognized this inclination and given consumers a turnkey package in which to become involved in the growth of a leading business. According to Wachter “the beauty of our model is that it gives you the ability to launch your own business without the costs, risks and overhead versus starting from scratch. If you create your own company, you’ll need to spend money on research, inventory, office space, technology, employees and a host of other things you haven’t even thought of yet. You’ve got to be good at so many different parts of the business, and you’re all by yourself. It’s a very scary proposition, and 95 percent of startups don’t make it. With our model, you get to be in business for yourself but not by yourself. And that’s the winning advantage. Our Live Ultimate Ambassadors reap the benefits of all the money, resources and quality that we put into this company.”
As a result of Wachter and Toobin’s developments, businesses and consumers alike have a new turnkey marketing model which accommodates both of their core strengths and allows for a greater ease and degree of sharability. Businesses following such elevated multi level marketing frameworks such as Live Ultimate enable the digital economy to drive forward great products at viral speed.
Another sector that is growing at a pace like never before is the business conference world. Until not very long ago, an antiquated industry that was confined to expensive and cumbersome annual conferences hosted at physical locations, the conference world is increasingly becoming a digital business.
Entrepreneurs in the space such as David Price, CEO of WeGather, have lifted industry conferences to the cloud to provide open, interactive, and seamless online discussion forums between industry leaders- from CEO’s to Professors to Politicians- and the fan bases that follow them.
Further, fans on WeGather are not limited to only one conference at a time. They can discover experts who post their insights and advice all across the world, creating an international network that functions as a new sharing economy of ideas, concepts, iterations, and ultimately solutions. And unlike a traditional conference- which has a definite starting and ending date- discussions are not limited in scope and can build innovation on top of innovation tapping into the law of accelerating returns that our digital age offers.
The art investment world- another traditionally outdated industry-has also begun to respond to the sharing economy and expand both access and opportunity at an accelerating rate. One powerful example is art dealer Jeremy Larner- who in recent years- has started to open up the process of arbitrage to lay investors who connect digitally to his company JKL Worldwide.
Leaning on Jeremy’s seasoned expertise as well as the unregulated arbitrage that typically collateralizes Jeremy’s purchases, clients of JKL Worldwide can participate in art trades that typically yield 400% the return of successful hedge fund investments.
For instance, within just the past 5 years, Larner and his investors have bought 159 pieces of art- from:
- George Condo
- Keith Haring
- Alexander Calder
- Andy Warhol
averaging no less than a whopping 81% return on investment through the entire inventory (4x the average of strong hedge fund returns). Through his success, Larner is enabling the outside world to capitalize on his unique insider access and information, creating the first digitally accessible art trading market (which functions as a new precedent for the business in the modern era).
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