Whatever your organization looks like today, the sharing economy is too big an opportunity to miss—or too big a risk not to mitigate.
- Create marketplaces: Organizations need to assess the potential for consumers to band together in a peer network that can undermine their value proposition.
- Develop a mitigation strategy: Whether acquiring a new entrant, partnering or investing in them, companies can mitigate the risk of a sharing economy insurgency and even capitalize on sharing economy revenue to bolster their business.
- Engage in sharing your own asset base: The sharing economy demands a sharing organization, one that monetizes spare capacity and improves business outcomes through sharing intangible assets.
- Effectively tap talent: One of the more controversial aspects of the sharing economy is the impact it has on the labor force, and the perceived shift toward contract-based employment that trumpets agency over regulation.
- Speak up in shaping regulatory and policy frameworks: Regulatory flash-points are everywhere, and they are the most immediate impediment to sharing economy growth—a situation that’s relevant to both disruptors and to more mature players.
- Expand the brand through shared economy experiences: By design, the sharing economy disrupts the balance of the marketing mix for nearly every industry it touches.
- Never settle for stable: If the sharing economy has proven anything, it’s that business models cannot be taken for granted in a highly connected, fast-changing world.
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