The Business Opportunities of The New Intermediation
January 28, 2013 7 Comments
I’ve been consulting with a company that has a tremendous opportunity to grow through the differentiation of its offering. They stand between a huge pool of unstructured “stuff,” and a business need to make that stuff intuitively useful (even beautiful). This type of creativity is a rare gift.
Many companies and people have lost work due to the internet-driven trend of disintermediation (the removal of no-longer necessary “layers” in the business chain – think about what Amazon has done to entire swaths of the publishing/book-selling business). But there are whole new business models on the other side of that coin – people and companies who can step in between two parties/needs and provide value.
These are The New Intermediaries. And, for an entrepreneur, this is a model ripe with opportunity.
A new intermediary provides value by creatively translating “stuff” into strategic business value. <<–(click to tweet this)
For example – the client I described above specializes in creating intuitive visual design. Now, if you can look into a vast sea of poorly-structured information and create an information design presentation that advances business goals, you have added tremendous value as a specialized intermediary. How many of us have experienced corporate on-boarding that was slipshod and poorly structured/designed?
This business problem needs a specialized intermediary (apologies, in advance, for the Ugly Graphic™!):
The above is one particular expression of a generalized New Intermediation structure, which we can generically portray this way:
The new intermediary has enough of a foot into the big pool to understand the possibilities and extract the core value (think of an experienced digital marketer who can talk to programming geeks), but also has a foot in the strategic business world and can see the market application (that same marketer discussing potential applications with the CMO). This intermediary is a filter and a translator and an interpreter between two worlds.
What is an on-line curator of information? Exactly – a new intermediary. The internet (and social media) has created an explosion of “stuff,” but also there are tremendous opportunities that come with the enhanced ability to build and cultivate networks. Social networking can be a mechanism to enable business intermediation.
In fact, I launched my Impactiviti business 6+ years ago based on this concept, though I wasn’t really thinking so much about the generalized potential of the model. I create partnerships with the best outsource vendors for training and marketing development (out of a vast pool of providers), and then I “matchmake” my pharma clients with the optimal providers – helping clients more efficiently choose vendors, while helping vendors more efficiently gain targeted business opportunities.
A major enabler of this business model, from the get-go, was digital technology for networking and communication.
The intermediary has to have solid domain expertise and a trusted reputation to be effective. Bingo – only the top people and companies can do this. And, hey, isn’t that what we want – business growth opportunities for those who have earned differentiation through competence and trust? When I do Clarity Therapy with professionals looking to gain a clear direction for their future, it’s surprising how often we quickly identify a potential opportunity involving new intermediation.
I’ve scribbled down some other applications of this model somewhere in this vast pool that is my desk – I’ll dig it up this week and post a few other suggested ways people can carve out this role for themselves. I’m thinking that a lot of people in their 30′s, 40′s, and 50′s who have built up a strong base of knowledge and credibility can find themselves a nice niche as new intermediaries and role their own. What do you think?