Description
Harness the power of “zero transaction costs” to ensure long-term success in every new business proposition
Veteran venture capitalist Dermot Berkery has come up with a completely new construct for spotting the great business propositions of tomorrow using fundamental economics—transaction cost economics—and he shares all his secrets with you in The Zero Transaction Cost Entrepreneur.
Eliminating transaction costs between customers and businesses can transform the customer experience and unleash profitable business opportunities. Uber used reviews, ratings, and vetting of drivers to reduce the lack of trust between prospective drivers and riders. By removing a potent transaction cost like lack of trust Uber opened up a global market. Berkery walks readers through the process of spotting potential new business propositions and capturing global markets through the process of eliminating transaction costs.
In this groundbreaking guide, Berkery explains how to find transaction costs in any business, presents examples of various transaction costs readers might encounter, and delivers successful approaches for reducing or eliminating them to generate major profits. Chapters include:
- Falling transaction costs: Blockbuster versus Netflix
- The eight major categories of transaction costs
- The way transaction costs shape our lives
- The journey toward the zero-transaction cost world
- Why transaction costs are now falling rapidly
- The trifecta of accelerators: idle assets, the internet of things, and marginal cost pricing
- The power of swarms
- Getting micro—disaggregate a specific task or not
- How governments can stimulate entrepreneurship without spending money
Using case studies of successful ideas that reduced or eliminated transaction costs for customers and consumers, Berkery presents actionable techniques for discovering valuable new opportunities, from small scale and incremental to large scale and transformational.
Your best business opportunities lie in eliminating as many transaction costs as possible. The Zero Transaction Cost Entrepreneur provides the knowledge, insight, and techniques you need to make it all happen.
