Harness the power of “zero transaction costs” to ensure long-term success in every new business propositionFor many business professionals, the daily "to-do" list is hard enough to stay on top of, let alone coming up with the "big ideas" necessary to take their company—or a whole economy—to the next level. But if coming up with those ideas—or finding start-ups that do—is your job, then The Zero Transaction Cost Entrepreneur is an absolute must-read for you.
With more than 20 years of experience and an extraordinary record of success stories to his credit, venture capitalist Dermot Berkery has seen thousands of business plans, and in these pages he shares the key ingredient these successes stories have in common: Smart transaction cost economics. Simply put, these businesses lower or eliminate transaction costs for their customers. Here's just one of the real-world examples you'll find within: Blockbuster Video scored big by making movies easily available to rent; that's a reduction in a transactional cost. Netflix then removed another transaction cost—a trip to the store—sending DVDs through the mail. They tackled other transaction costs – limited choice and wasted time – by moving to streaming.
Finding (and loosening) these transaction cost creates extraordinary opportunities in every field and industry, for entrepreneurs and venture capitalists to corporate strategists and R&D heads. In these pages, you'll discover how transaction cost economics can work for you, in chapters that include:
- Why Do Other People Come Up with All the Brilliant Ideas?
- The 8 Major Categories of Transaction Costs
- Makers of Products Need to Transform them into Services
- Why Are Transaction Costs Falling Rapidly Right Now?
- The Trifecta of Accelerators: Idle Assets, the IoT, and Marginal Cost Pricing
