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The following video transcript is generated automatically by a computer algorithm that learns and gets better on a daily basis. Please accept our apologies if some content below doesn’t make sense:

And on that note, our next topic of conversation. We decided that we are rolling round to the end of this year and hasn’t 20-20 been brilliant people? So we thought we would discuss what kind of businesses would be a good idea to start in 2021, one given next year, given the context of like what we’re currently in the middle of and where things are going and the progress of technology. There’s a whole bunch of stuff around the possible antitrust Break-Up of the big tech in inverted commas, your Facebook and your Googles and the Amazons, et cetera, all of the lockdown’s remote meetings. The big change in retail from sort of in-person to e-commerce increase makers. People can’t physically go to the malls or the shops to to to buy the products. So with all of these sort of you know, it’s been a very fair all sorts of reasons. It’s been a very sort of paradigm shifting year. I think it’s been a real inflexion year for obvious reasons. We have another global pandemic for a but it’s been, you know, a year full of inflexions and it has forced our kind of concept, context in a very different direction than we would have sort of thought had we sort of tried to predict this in 2018, 2019. So if you’re thinking of starting a business like how how should you think about the kind of areas in which it makes sense to start? How can you do it such that you are taking advantage of the changes that have happened as opposed to swimming with the tide rather than against the tide? I suppose one might say so. We’ve come up with a few ideas for some general areas of where we think you can be successful in business next year. Why don’t you kick us off with the first?

Yeah. So more broadly speaking, conceptually, I would say that you should look into personalisation or customisation of any products and services. So go for Nicias. So we spotted the swell trend to pay the communities. In fact, we are migrating networkers to our towards social platform for social media platforms and social network, whatever you want to call it, foreigns for years. So we’ll be. Yeah, well, we brierly more information down the road, but that’s certainly a trend.

So paid communities are for programmers for now. E-commerce people. Yeah. You will find that trend. Yeah. You can take advantage of it. Either participating or ongoing insights or pushing information or build something around it, then micro marketplaces. But set by self definition. They are targeting niches and. Yes, it goes in line with what what they were saying about customisation and sensation. So just serve more specific needs. And yet it’s also related to the unbundling. You have talked a lot in previous podcasts on the desegregation. You are mentioning the Big Dig. You want to expand on that trend of unbundling maybe.

Yeah, sure. So I think that. Bundling and unbundling is one of these kind of business waves that goes like the tide goes in and out.

I think over the course of maybe a decade or maybe 15 years, there’s this sort of bundling and unbundling or aggregation and desegregation kind of business cycle that occurs, which I think is just a natural result of people coming up with business models. People sort of try new things, people getting aboard, the incumbents going to huge sizes. And then you get the Clayton Christensen disruptive innovation coming up from the bottom. You know, disruptive innovation happens from the bottom up. Right. So the bottom always eats the top.

And I think this is one of those cycles like that. And so the place where we’re at the moment is like the aggregators have been supremely successful over the last decade plus. Right. So an aggregator is someone who sort of takes a whole bunch of latent stuff in the marketplaces and brings it all together for the benefit of their end consumer. So, for example, Google is an aggregator because Google goes out, finds all of the all of the things on the Internet and then provides a handy interface for you to use the consumer to go in there and search to find stuff. Facebook has done that with your sort of friends network. Twitter has done that for lying on the Internet. LinkedIn has done it for business relationships and annoying emails from recruiters. And you can hear the cynicism in my voice. Right. But that is that is because whereas getting towards it feels like we’re getting towards that end game play for a lot of these kind of things because they’ve become huge. They’ve become all encompassing. And the bad actors in the system. So the recruiters on LinkedIn or the you know, the the spam, the Russian spam bots on Facebook or whatever it means are starting to like really flood those systems. And the signal and noise on those places is getting ratios going really bad right now. Whereas it used to be when Facebook sort of first came around to be like, oh, cool, that we can spy on people who used to go to school with and see how rubbish their life is going compared to my brilliant. Whereas now it’s kind of like nobody really does that. It’s just like you’re crazy, 50 something on there spewing out conspiracy theories and you’re like, what is like now a bunch of people still kind of like, look for it and then just let go and discuss. And the people are actually on it just like the lunatics and so on, all of those kind of platforms. There is now an opportunity for quality for first people who can pick out the signal from amongst all that noise. So obviously, there’s a huge demand for this stuff. Right, because these things about huge Google is huge. Facebook is huge. Twitter is huge. There’s there’s demand for the stuff that’s in there. But if you can pull out the signal from the noise as as a business, then you’ve got a chance of doing really well. Right. Because people aren’t massively beholden to these platforms. If you offer them a better experience or situation, then people will jump ship like fairly easily. I would be more than willing to jump ship onto other platforms that did better. And the way that you increase the signal in this case from amongst all the noise is by specialising, right? If you say. My go to example for this is like cat food. If you own a Siamese cat and you go into a supermarket, you go to the cat food aisle sitting on the catfish shelf. There is cat food. And then right next to it, there’s cat food for Siamese cats. You’re going to pick up this if you are the Siamese cat and you’re going to pick up every single time over the other cat food because it might be the same stuff in the tin. It probably is. Probably came from the same horse. Who knows? But you’re going to be you know, you’re going to pick it up every time because it’s more specific to you and your situation, your context. And people have very different ideas about stuff. People are interested in different things. So if you know now, is it really ripe opportunities? Do things like to have products which speak to a smaller subset, a niche of a larger market and specialise in there and actively qualify your customers. So like you want to be actively putting off people who it doesn’t cater to because it’s of no interest to them. So there’s no point in them coming in. And you’re not doing anything bad by saying to them, look how you’re just not gonna enjoy this. There’s no point in you coming, whereas if you are like, come on board because it’s gonna be perfect. It’s going to be far more signal, far less noise. I think it all comes down to. And again, this this why you feel, you know, over the course of the next 10 years, 15 years, whatever it might be, it’s going to get more and more more siloed. And then there’s going to become a need for a new aggregator to come along to sort of bundle it all up again in the way you go. But the direction for the next 10 years or so is going to be desegregation. The underlying or or the the thesis underlying all of this, which came out years ago, I can’t remember exactly when it came out, but I heard about it in the early 2000s. It was from a guy called Kevin Kelly and he wrote the classic essay called A Thousand Tree Fans, which is where he was predicting essentially that given the Internet and given the connectivity that the Internet provides, that you could make it, you know, that enables a whole class of business and people making livings that otherwise wouldn’t exist because. So, for example, you’re a musician. You don’t have to be Madonna. If your particular class of music can appeal to a thousand people on the Internet who are willing to pay you, you know, ten pound a month or a hundred pound a year, whatever, then that provides you with a with a living that you can never have done. If you were just this sort of, you know, playing weird music in your local town centre because they might have been one or two other people are interested. And that was it. So and that’s that kind of nation down unbundling, speaking to specific, very specific niche marketplaces or niche groups of customers and doing things so that, you know, like so what you said earlier on about pay communities and, you know, and we’re talking about sort of having our own sort of platform or community, but that’s going to be a niche community, right? It’s going to be for entrepreneurs. So it’s going to be specific. The signal. The signal is going to be high for entrepreneurs and low for everyone else. So, you know, we we want to encourage people are in that box to come along, do, you know, participate on our platform because there’s going to be high signal relative to and we’re going to work hard to keep it that way, you know, because that’s the way that we’re going to eventually sell us off on that. This is the reason why people should join and this is why people should pay. And all those good reasons. Well, we’ve got we’ve we’ve got a couple of other points on there. One of the other ones that we’ve got going on.

Yes. Dow related board. We have micro SAS software as a service, which is related. And, of course, digital products to try to go digital for main reasons. At least until this situation with a pandemic and you can trade tensions get better because relying on supply chains unless it’s in your country. But even if it’s within your country and there is a lock down, your suppliers may struggle.

So, yeah, you’ve if either you talk a lot or try going digital. So sell digital products, that could be, you know, information mainly could be SAP. Microsoft might also ask. They said so solving. Smaller problems, but into an efficient way. And, of course, at low cost. That could be more like business to business, offering micro SAS and help businesses solve specific problems. And then you can go international with those solutions, which is quite useful. Probably you may want to look into personalised medicine as well as chimps are saying, just target people with specific needs and cater to them. Just just, you know, coach them into what they can do to get better. And again, exploit Nicias. So I think hopefully we retransmitted the idea on that broad enough so you can then pick from there. Otherwise, just you can comment in our YouTube channel or in our social media. We look forward to.

Good stuff. Right. Thanks very much for listening, everyone. We’re back every Thursday. Please do cheque out our YouTube channel, which is where we post this podcast. And our other videos, you can search for net workers. That’s two words. Or you can find the link in the show notes for this podcast.

If you’re interested in help, mentorship courses for entrepreneurship and starting businesses, please cheque out our Web site, which is at networkers dot com. So your next to might.

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