Twitter Business Model Secrets Revealed By Co-Founder Biz Stone That You Can Apply In Your Business
April 10th, 2009| The Colbert Report | Mon – Thurs 11:30pm / 10:30c | |||
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Co-founder of Twitter Biz Stone states, “Twitter provides a new way of messaging; it’s the messenging service we didn’t know we needed until we had it.”
John Colbert replies, “That sounds like the answer to a problem we didn’t know we had until I invented the answer.”
Biz responds, “If the telegraph was good enough to send then it was worth sending on a horse.” John questions, “What’s the Twitter business model?”
Biz confidently states, “We recognize the difference between profit and adding value. We are building value…Right now value means extending the service worldwide where more people can have access to the network…There are over 4 Billion Phones…As we grow the network to interface with texting and the internet it becomes more valuable….
Stone is going to experiment with the google revenue method to its Twitter application in 2009. And perhaps most important explore and test the results until he finds the right revenue model for Twitter.
So what does this have to do with your business? THE BIG TAKEAWAY
1. In 2009 into 2010 your business is going to have to solve a problem that the consumer doesn’t know exists or a solve a problem that the consumer can’t find an answer elsewhere.
2. And if the answer is offered in the marketplace how will you differentiate it and make it the only logical choice that the consumer must have right now.
3. Probably what is most important lesson in this clip is to recognize you must add value first and the profits will flow. However, you must have: patience, passion for your idea and keep cost-effectively testing your marketing until you get the right mix.
Look at your business and let me know how you will solve a problem for the consumer that makes your business stand out while adding value as well.
