How To Join The Sharing Economy With Your Business

As the times change, people and businesses must adapt and innovate to thrive. One of the most disruptive changes in modern industry is the emergence of the sharing economy. Also known as collaborative consumption, the sharing economy marks a philosophical shift in the concept of ownership. Whereas people once preferred to own products and goods, there are networks of people that share assets using apps and technology. As a business owner, you have the ability to tap into this new way of doing business. These collaborative consumption platforms can be used for mutual gain between you and customers. Here is how your business can join in the sharing economy.

Reducing Costs Through The Sharing Economy

The sharing economy came about as result of several factors such as the advent of the internet, downward economic trends, and lowered purchasing power. Your business can use the sharing economy to overcome downward economic trends. Many other sharing economy platforms provide affordable services. Your business can become one of these services that provide housing or transportation.

Take Advantage Of Cheap Services

As a result, several sharing economy platforms provide affordable services. For businesses, this can provide cost effective solutions to problems such as housing and transportation. You can participate in your local bike sharing program. Similarly, business owners no longer need to pay premium prices at hotels when traveling abroad. Now, apps and sharing economy websites provide more options. Ultimately, the key to succeeding through the use of sharing economy platforms lies in understanding what your business needs at the time. There is a veritable sea of platforms that is constantly growing day by day.

Work Smarter, Not Harder

According to the McKinsey Global Institute online talent platforms are increasingly matching workers to employers. They estimate that by 2025 online talent platforms will boost the global GDP by 2.7 trillion dollars. There is a large supply of capable workers looking for employment. In the age of the sharing economy the Freelance industry is booming. Job board websites like Zip Recruiter make it easier to identify quality candidates and streamline the hiring process. Increasingly, people are relying on contract and part time work. A good leader delegates work to elevate their business. Online platforms can fill your business with fresh new talent.

Expand Your Presence With Social Commerce

In the digital age, brick and mortar stores are quickly becoming a thing of the past. Giants such as Amazon are making transactions easy and impersonal. Social commerce is defined as the ability to make a product purchase from a third-party company within the native social media experience. Take advantage of this trend to turn your online friends into real consumers. Marketing need not be limited to expensive ad campaigns on television and magazines. With social commerce you can reach a wider audience of potential consumers. On the internet, people are increasingly bombarded with advertisements to the point that it becomes white noise. Therefore, it is crucial to make oneself marketable through social media sharing. With the sharing economy, you can generate business from social commerce.

Though change may seem frightening it brings unprecedented opportunity for growth and development. The sharing economy offers people a chance to become better by being part of something bigger. Don’t fight against the times. Take advantage of the new sharing economy opportunities and thrive by joining in with your business.

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