The 6 thinking hats are here to help out with decision-making and business models in the digital age.
Starting a business can be very stressful and at some point will become more than a full time job. However, in the digital age, it may be easier to set up a business more or less risk-free. First, let’s consider the 6 thinking hats and incorporate SWOT analysis to access this possibility.
The White Hat: FACTS
There are a lot of facts and figures that are in favour of setting up an online business. There are no immediate start-up costs for making a website now that there are so many free blog sites an entrepreneur in the making can use to create an online presence.
Red: FEELINGS
It is easy to see that setting up a business takes a lot of time, effort and planning. One has to remember that there are pros and cons to most decisions. However, if you are passionate about what you do, it should be very easy to do with motivation and knowledge of your chosen field.
The Blue Hat: PROCESS
An online business can be done alongside your current job as the digital age allows us to be connected virtually everywhere. Whether you’re updating a post, gaining exposure or just looking into research, the web is only a click away on a device small enough to fit in your front pocket. This convenience makes it easier to go about making your goals a reality.
Green: CREATIVITY
Nowadays there’s so much out there from packages, self-help books and webinars thanks to the digital age that will allow it to be possible to find new and innovative ways to make your business stand out.
Black: CAUTIONS
Although there are no obvious monetary draw-backs with starting a business, one has to consider the fact that there is so much already out there, and how can you monetise your business when there’s so much free content online already? And once you gain a following, how do you make them stay, and become loyal customers? There is also the problem of copyright issues. It is so easy to distribute and share copyrighted material. These issues to be considered greatly as consumers are more tech-savvy and frugal with their money, especially in the current economic climate.
Yellow – OPTIMISM
There are a lot of benefits when it comes to an online business. You can save a lot of money as you will not have to access so many resources other publishing houses have to consider.
All in all, as long as your business has a unique selling point, focusing on a niche market and has a certain personal touch (playing to its strengths as a small, independent business) it is likely to be successful in the digital age. Utilise your skills and it is possible to create something worthwhile!
Word count: 484
Bookseller (n.a) (2010) The Digital Crossroads FutureBook. Available at:
http://www.thebookseller.com/futurebook/digital-crossroads
[Accessed: 14/10/14]
Belcher, L.M (n.d) How to Build an Internet Publishing Business, Chron: Small Business. Available at:
http://smallbusiness.chron.com/build-internet-publishing-business-31277.html
[Accessed: 13/11/14]
Davies, A. (2010) New Publishing Business Model, IDIO. Available at:
http://www.idioplatform.com/the-new-publishing-business-model/
[Accessed: 14/10/14]
Klein, N (2014) New Business Models in Book Publishing: An Analysis of start-ups and Their Strategies, Academia.edu. Available at: http://www.academia.edu/6306101/New_business_models_in_book_publishing_An_analysis_of_start-ups_and_their_strategies
[Accessed 14/11/14]
Salmeron, J (2013) Recent Trends in Storytelling and New Business Models For Publishers, Smashing Magazine. Available at: http://www.smashingmagazine.com/2013/10/28/recent-trends-in-storytelling-and-new-business-models-for-publishers/
[Accessed: 8/11/14]
Webb, J (2012) Business models to monetize publishing in the digital era, Tools of Change for Publishing (TOC) Available at:
http://toc.oreilly.com/2012/02/monetization-in-publishing-toc-2012.html
[Accessed: 14/10/14]
Starting a business can be very stressful and at some point will become more than a full time job. However, in the digital age, it may be easier to set up a business more or less risk-free. First, let’s consider the 6 thinking hats and incorporate SWOT analysis to access this possibility.
The White Hat: FACTS
There are a lot of facts and figures that are in favour of setting up an online business. There are no immediate start-up costs for making a website now that there are so many free blog sites an entrepreneur in the making can use to create an online presence.
Red: FEELINGS
It is easy to see that setting up a business takes a lot of time, effort and planning. One has to remember that there are pros and cons to most decisions. However, if you are passionate about what you do, it should be very easy to do with motivation and knowledge of your chosen field.
The Blue Hat: PROCESS
An online business can be done alongside your current job as the digital age allows us to be connected virtually everywhere. Whether you’re updating a post, gaining exposure or just looking into research, the web is only a click away on a device small enough to fit in your front pocket. This convenience makes it easier to go about making your goals a reality.
Green: CREATIVITY
Nowadays there’s so much out there from packages, self-help books and webinars thanks to the digital age that will allow it to be possible to find new and innovative ways to make your business stand out.
Black: CAUTIONS
Although there are no obvious monetary draw-backs with starting a business, one has to consider the fact that there is so much already out there, and how can you monetise your business when there’s so much free content online already? And once you gain a following, how do you make them stay, and become loyal customers? There is also the problem of copyright issues. It is so easy to distribute and share copyrighted material. These issues to be considered greatly as consumers are more tech-savvy and frugal with their money, especially in the current economic climate.
Yellow – OPTIMISM
There are a lot of benefits when it comes to an online business. You can save a lot of money as you will not have to access so many resources other publishing houses have to consider.
All in all, as long as your business has a unique selling point, focusing on a niche market and has a certain personal touch (playing to its strengths as a small, independent business) it is likely to be successful in the digital age. Utilise your skills and it is possible to create something worthwhile!
Word count: 484
Bookseller (n.a) (2010) The Digital Crossroads FutureBook. Available at:
http://www.thebookseller.com/futurebook/digital-crossroads
[Accessed: 14/10/14]
Belcher, L.M (n.d) How to Build an Internet Publishing Business, Chron: Small Business. Available at:
http://smallbusiness.chron.com/build-internet-publishing-business-31277.html
[Accessed: 13/11/14]
Davies, A. (2010) New Publishing Business Model, IDIO. Available at:
http://www.idioplatform.com/the-new-publishing-business-model/
[Accessed: 14/10/14]
Klein, N (2014) New Business Models in Book Publishing: An Analysis of start-ups and Their Strategies, Academia.edu. Available at: http://www.academia.edu/6306101/New_business_models_in_book_publishing_An_analysis_of_start-ups_and_their_strategies
[Accessed 14/11/14]
Salmeron, J (2013) Recent Trends in Storytelling and New Business Models For Publishers, Smashing Magazine. Available at: http://www.smashingmagazine.com/2013/10/28/recent-trends-in-storytelling-and-new-business-models-for-publishers/
[Accessed: 8/11/14]
Webb, J (2012) Business models to monetize publishing in the digital era, Tools of Change for Publishing (TOC) Available at:
http://toc.oreilly.com/2012/02/monetization-in-publishing-toc-2012.html
[Accessed: 14/10/14]