A Future For Online Business...On The Blockchain?
Note: This is in no way what we are planning to do, or even thinking about. It's just me talking out loud, and thinking in terms of 'what if'...Could be a fascinating vision of the future though ;)
So it all started with an article that @achim03 did yesterday. And a little tidbit he mentioned in his article...
An innovative form for Membership sites
When you join a restricted member area you are often asked to leave your credit card information so that every month a certain amount can be deducted from your card. Now imagine that instead of asking for recurring payments, you ask for a one time membership fee. You take this fees and you power it up 100%. You delegate this stake and get a return on it. For every new member that you get, your stake and your return will grow. The more members you have, the bigger your daily income will be. No need for credit cards. No need for recurring payments. Just another way to build your business.
If you have been involved with online business for any amount of time, you'll know a few things;
- The recurring subscription model is how you build your income up!
- PayPal sucks (and so do credit card charge backs!)
But as a customer of these programs and services that are offered by the companies, the allure of 'a one time payment' is very attractive. We have more money coming out of our pocket every month as entrepreneurs then we'd like to admit...So paying for something once and getting access to it for life is...A no brainer.
But going back to the 'few points' that an online entrepreneur is aware of...It's all about the recurring subscription and having someone pay for something once, isn't the best strategy. Recurring income is the lifeblood of your online business.
But along comes Hive and it's inflation model...
Now people on the side of killing the inflation on the blockchain won't be fans of this. Personally, I think interest and desire for the token would be a better solution than killing inflation completely. And HBD to this day, confuses me as to why we even need it...But that's a debate for another time.
The point being, we HAVE a recurring....DAILY in fact...Income model built right into the blockchain. Hive Power!
Let's throw some numbers out there for fun and see what we come up with:
Bob's Online Business decides to implement this crazy new idea where customers pay for their product or service, on a one time fee of say....500 Hive. (Current exchange would be about 160 bucks)
They offer the service they provide is a 1 time fee of 1000 Hive , and their customer never has to pay for anything ever again. So far, the customer is VERY pleased....
But what about Bob?
Bob can't possibly create a sustainable business on a one time payment of 160 bucks...Unless....
He stakes 100% of that 1000 Hive!
Hive's current inflation is between 3-4%...So Bob's staked Hive gives him a return of 30-40 Hive per year. And it's paid daily over the course of the year...
Still....30-40 Hive a year isn't going to set the world on fire even if we 10x...But but but....Here's the online business model that we would place this on...
We shoot for a goal of 1000 paid customers!
Let's plug that into the equation and see what we get:
1000 Customers x 1000 Hive Each = 1 Million Hive
1,000,000 HIVE Staked Returns = Approx. 28,571 Hive Per Year at 3.5%
Now we're starting to see some returns come into Bob's account daily that isn't chump change. It's not going to make him wealthy, but he's still got the 1 million Hive, powered up. He can delegate it to create even more returns and who knows where the price of Hive will be in a year from now...
Sure there are a ton of variables. But it just makes you think....
Heck, you can even put an affiliate program into the daily Hive returns and pay out to your affiliates as well.
So many things to think about....
But again...This is just a crazy idea @achim03 spoke about that I've been thinking about for 24 hours now, non stop.
And hey, online entrepreneurs are always driven by the 'what if this works' question...What do you think?
Does this have legs?
Potential to change decade old industries?
And finally bring online entrepreneurs in droves to the blockchain?
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https://twitter.com/Jon_G_Olson/status/1357771207379189760
I think you can add what the HP can bring in curating or delegating as part of the profits. For example, if you delegate out that HP in Dlease, I think you can get over 15% APY in daily payments. If you compound that with the HIVE inflation, you can potentially earn even more.
If you don't like delegating, you can also decide to spend time curating content to get HP and extra rewards on your second layer tokens.
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That's exactly it...The potential is crazy. Delegation alone, like you said...10-15%....Curation too. Even more.
So many ways to flip it into growing and sustainable income.
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I would think that this would bring in an awesome rewards to any online business, I like paying a yearly fee when I can afford it. I can see the value of this for online businesses.
That's the key right...A lot of customers love one time and lifetime payments for products. This is a true win win for the customer and the business owner.
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HIVE!D
for @theocu
it is a very interesting concept.
Yes, one time offers are very tempting for the customers and they generally go for it.
If you add this model to it, the owner can also benefit.
Crypto is still a taboo for some of the owners.
That's a hurdle for sure...Getting online businesses to willingly accept crypto instead of relying on credit cards and Pay'NotYour'Pal.
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I think one hurdle is that we've been taught since birth that inflation = bad. You would really have to work that notion out of the head of Bob :)
LOL Very true...Same kind of idea in the markets...Red means blood in the streets, SELL SELL lol
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I'm happy/sorry to have triggerd your thoughts for a whole day LOL :-)
Honestly I was thinking about it for quite some time and I came up with other interesting side effects. This model would actually allow you to earn in a quite stable way. If you dlease your stake, you know quite precisely how much hive you will get every day. Now you just need to know how much expenses you have every month and from there you see exactly how much you have to sell to reach it. It would make the world of online entrepreneurs much more predictable. Every sale would bring you closer to your target.
There would be plenty of ways to introduce a referral system. One solution would be to take a certain percentage of your daily income and distribute it every day to the people that bring you referrals. Imagine how interesting such a programm would be for affiliates. You bring somebody to the site that buys once but as an affiliate you get a lifetime comission!
I would love to try to apply this concept in reality :-)
Yeah that's my thinking, you stick it into an affiliate model...Commissions for life. Pretty powerful proposition for affiliate markets. Imagine a tool like an autoresponder on this...Lifetime use, lifetime income, lifetime commissions.
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That is a great idea. I wish that would have been around when I had my online business many years back. As you say life times are bad but with system life times would work.
If I ever start another online business that is the way I would handle life time accounts as well as handle commissions on life time accounts.
I mean, there are a lot of working parts...But could be interesting to see if it's viable.
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I've been thinking about this ever since you brought it up last night. I think there is a lot of merit to it. I am considering it for my Family History Community. Since I am still in the building stages, I could always change the model if it doesn't work out.
Things like this are the reason I try not to miss any of your webinars. You are always forward thinking and looking for ways to help your members grow. I also want to give a shout out to @achim03 who, IMHO, is brilliant with all of this blockchain stuff. His posts never fail to stimulate my thinking and he is always looking for ways to help others.
Thanks a lot for the shout out. Appreciate your kind words :-)
It could be quite a little model down the road to follow. Obviously there would need to be a lot of work put in to maximize profits...But without credit cards or PayPal...Would intrigue people lol
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This is very doable and it makes sense to go in that direction:-D
Yeah could be something people could use for sure. But disclaimer again, we arent thinking of doing this for our businesses lol Just shooting ideas around.
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It is a model to think about--lots of moving parts and a need to compare with alternatives. The lack of big credit card companies or Paypal is definitely a plus.
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LOL Big win...No credit cards, no PayPal! lol
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Yup, I mentioned delegation and curation for sure...That's the bigger win, but didn't wanna complicate the example LOL
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You are right that many companies give us annual subscription plans for payment where this is the "more favorable" option. The downside of paypal is that I have to have a plastic card to pay for epidemicsound subscriptions. It is a pity that I cannot pay the cryptocurrency.
I don't know much about marketing, but some hive model works. I am talking about trials and mutual vote. I had a crazy idea. Personal trainer for hive. Help with blogging and creating content for loczatacy for a fixed fee in cryptocurrency. (Such crazy ideas). I need to visit here more often to find out valuable information. And by the way, I bought a ctp miner. question. The more I have, the more ctp I get per day?
Take a look into https://www.clicktrackprofit.com Lots of lessons for marketing in any niche :)
Yup, the more CTPM you purchase the bigger chance you have to unlock rewards!
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the more automation of computations occurs the more adoption. Ever since I heard about blockchain I have always wonder why general retail have yet to adopt it and use it as a form of accounting or revenue tracker.
I truly believe it's coming...Just a matter of time!
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I really like this concept because it's truly a win-win situation for both owner & customer...I usually opt for yearly subscriptions, rather than monthly ones - not just in affiliate marketing sites, but even in other off blockchain sites. So, in itself, that is enticing...
And then powering up each time you receive an upgrade payment...wow, that is something that could grow quite quickly. :) This is a great idea that @achim03 had.
Never say never...maybe it's something you will find that will be fruitful for #ctptalk or one of the various Evergreen sites? ;) 💚
That's my thinking right...If people were on lifetime or yearly, it gets one less thing for them to worry about each and every month.
The trick is to make it sustainable and worth it for the owner.
the membership idea is brilliant.
we both know so many folks will continue to refuse new things.
and sadly most of them will continue to complain and stay their 1990 model.
free membership with a paid upgrade. perfect for monthly, annual payments.
Also perfect for an OTO or flash sale to make a lifetime hive/ctp payment
I can see CTP for Life.....one payment....tokens only