Changing Business Models

There is a little red book with my words in,
with little purple letters they forms in...
To what use they are I wonder,
Cause my business model is clearly torn asunder.

(Thankfully I’m not supported by my poetry.)

Buy low and sell high or the opposite, sell high and buy back low. For a long time it seems like how society operated.

I have tried to make a business using this model in many ways with various degrees of success.

I started out making 3D lenticular cards. I spent hours and hours learning software and taking photos for the cards. I thought they turned out nicely but getting just the raw materials for the cards was pricey and it took a lot of labor to make them. I could not sell enough of them to continue to produce them. When my printer broke I stopped making them.

I have also tried trading crypto and have had some limited success with that. I’m not very good at timing the market or figuring out what kind of things are going to become popular. I definitely like to buy and hold better.

I have also tried selling my labor and had multiple clients I was working for at one time. This can get difficult when they all want things done at the same time.

It was also not real easy working for someone else for me. I often felt the conditions were just not right although I liked most of the jobs I’ve had.

Many of the ways that businesses operate don’t seem right if they are done in small groups of people or within families. If I bought food for a family member and sold it to them for twice what I paid for it they would be rather upset.

Yet if I bought BTC and sold it for many times what I paid for it nobody would think that was odd at all.

Loaning something with interest can seem like highway robbery too in this day and age. What if I loaned you 1.0 BTC several years ago and you sold it for $20.00 USD then. Years later I want my 1.2 BTC back (including 0.2 interest.) How would you feel about repayment of $68,920.53 USD at today’s prices?

The old wisdom was that if someone looked like they needed the money you should just give it to them and not expect anything in return.

Working Towards the New Business Model

There is nothing really wrong with any of the old business models. With that said there are obviously ways that are much better for society than others. Bad business models have some degree of exploitation or coercion of people or resources. They pay some people well at the expense of the planet or other people.

In fact some ways of making money can be very bad for the society so people have often tried to make regulations and agreements to support one way of making money over another. Enormous resources are spent on trade agreements and regulations designed to help these old business models along, prevent crime, and account for differences between countries.

Ignorance, desperation and wide differences in wealth will always cause issues and regulations may not be the best approach. Incentives could be put in place to help people rather than making ever more difficult to enforce regulations.

In my personal journey I have found a lot of incentives in Cryptoland. The rules of the game of wealth creation seem to be changing rapidly. It is not just buy low sell high and lock in profit whenever you can. Arbitrage and trading are still very useful for price discovery but there are a host of other ways of making value too.

It is a virtual smörgåsbord to discover with a variety of ways to succeed. It feels like your success supports other like minded individuals. The new business models are community oriented and difficult to describe.

I think you know when you got something good going. Where it will end up is anyone’s guess though. For right now I’m pretty happy. I’ve found a business model that is working for me, although I can’t describe it well yet.

Here’s to Web 3.0 everyone! Best wishes for your success.

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Thanks for reading! I always value your support and comments. The pictures were taken by me with my Galaxy S9+. Text and graphics copyright lightsplasher & litesplasher.

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