Now, you might feel that businesses wouldn’t want to lose out on their competitive edge by sharing their insights with others. And while that still largely holds true, we are seeing a new trend among many organizations, one where they are investing in sharing information to grow faster.
Understanding the New ‘Sharing’ Phenomenon
Post-2016, most companies looking to improve productivity are trying to work more along the lines of borrowing and lending, right at the time of starting off.
New businesses do not possess a huge amount of capital required in a business set-up and hence, to play it innovatively and smartly, resort to the sharing economy of the initial days. Hence most new companies land up in the business of sharing and have seen to rise at a very quick speed from the ground.
What Exactly are Shared Businesses?
Sharing business data and information is generally more productive as it helps build a stronger network – improving peer-to-peer lending, exchange, and collaboration amongst the networks.
Today, businesses look to use the old school concepts in a different way, where everyone stays in a win-win situation. It has formalized the exchange, thus making it officially economically available.
The simplest example of this would be the online betting site, 247 bets. It is a website that provides with a range of betting games. Unlike other sites, it works on the shared economy experience. They provide advice and information from gamblers who are experts in the arena. With an online reviewing system and deep insights, you would know just which online betting site you should sign up for as a new gambler.
Why do Shared Businesses work?
According to the report provided by New Zealand Statistics department, shared economy businesses are putting behind the number of companies started by other industries. Collaborative consumption is very effective to change the dynamics of businesses, in which incentives give small budgeted, but effective ideas to pop up more frequently. Since most of these are reviewed online, gauged and fake figures and rate of success is completely out of the question.
Since they are co-operative firms working in shared environment, a proper list of check and balances are put in place to avoid theft of information or other measures, ensuring better safety.
The Top Examples of Shared Businesses
Some firms working on this kind of economy are worth giving examples of – like Airbnb and Uber. Airbnb works on this by renting out homes to people, thus making the traveling experience economical and personal.
Uber does the same with its cab services, which helps in employing and generation of jobs and people without the loss of hefty resources and time. Other upcoming brands like Vinted help in choosing the right dress by letting you try it online.
Even if you take the likes of Amazon, they rely on increasing third-party sellers to ensure that customers have a choice of an extensive range of products.
For businesses looking to do more, sharing is caring!
