I Prefer Knowledge Businesses

The distribution models of wholesaling, distributors, retailers, and system integrators persists in our digital age. Without imagination, many products and services are resigned to commoditization. I find competing on price a pretty boring and predictable outcome for a business. It truly is a race to the bottom.

On the continuum of distribution, climbing the value chain means bring much more value to what would otherwise be a commodity. Let those without imagination continue to be electricians while you build an electrical service company. Let tutors perfect their specialty and become more efficient while you create a platform for connecting conveniently for others.

The entrepreneurial opportunities are vast with more resources commoditized because the internet has accelerated convenience for us all.

I prefer knowledge businesses. They lead with what they know and show more imagination in how a product or service is sold or used. It is repurposing and reinventing. The building blocks of talent, technology and channels are all there for the entrepreneur that can inject knowledge and imagination.

Creativity around what’s available and repurposing it is a critical skill. It is a great opportunity to not only profit but create something novel.

How can you move your business to a place where you are sought for your knowledge?

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