The New Intermediation: Specialized Domains

If you have been in a business domain for a long time, acquiring a deep knowledge and broad network, you may well have an opportunity to carve out a unique (you-based) business role for your future. Of all people, you can be one of the new intermediaries.

In an introductory post, I opened up the idea of potential business opportunities that exist by thinking about The New Intermediation. The Ugly Graphic below depicts how this works:

Intermediary1

Just yesterday, I was handed a brand-new business card by someone I’d spent a few hours with several weeks back. This experienced professional was being laid off – there are always ups and downs in the pharma/biotech realm, and some great folks lose positions regularly because of factors having nothing to do with their performance.

Anyway, this person had a deep area of domain expertise, able to fill an information and business-building need that few could touch. I encouraged them to launch a consultancy (they did), and yesterday, I got the news that their first client had signed up for a 6-month engagement!

How awesome is that? From corporate dependence to carving out your own path – isn’t that what so many should be doing right now?

Another friend is steadily positioning himself for a unique intermediary role in his industry (agriculture-related) due to his immense knowledge and hard-won reputation as a very knowledgeable guide for both growers and producers. Make no mistake, however – his reputation as a value-creator is based on incredibly hard work in a specialized domain. This role is not for kids fresh out of college.

Just saw this post by Rohit Bhargava, who is taking on the role of a Marketing Concierge. What is that? An expert who comes alongside the client, and makes relationships and workflow better with their agencies. Read the post and you’ll see why he can do this – deep domain experience. He’s a new intermediary. My friend Tom Martin serves as a digital adviser for higher-level marketers, who cannot possibly keep up with all the digital ferment. Tom is immersed in digital AND knows what agencies/marketers need. He’s a new intermediary.

In each case, people pay their dues for years working for others (building up domain knowledge and reputation), then get to a position when it’s time to be an intermediary. If you’re in your 40’s and 50’s and wondering if you’re being bypassed – if you’re all washed up – think again. This is prime time to be a value-creator by having a foot firmly planted in two realms.

I find that people with this type of depth and track record generally need a gentle push – a little outside permission-giving. “This is your sweet spot. You’re ready now. No-one else can do this like you can. Here’s your market[place]. Go!

Think beyond the next job title in someone else’s hierarchy. Build toward your unique place of adding value “in the middle.” Maybe you should be one of the new intermediaries!

Previous Connection Agent posts on The New Intermediation:

The New Intermediation in Publishing

The New Intermediation: Curation

The New Intermediation: Matchmaking

The Business Opportunities of The New Intermediation

Advertisements

Intermediation Biz Opportunity: Matchmaking

{Note: I am now blogging at my brand-spanking-new site, SteveWoodruff.com. Just click here to subscribe to the new feed. Bonus – you can also sign up at the same time for my astonishingly brief  yet brilliant e-newsletter, Clarity Blend (see sample), and when you sign up, you’ll get a free download of my helpful new e-book, Make Yourself Clear: Six Steps to De-fogging Your Direction and Your Message.}

Let’s talk about arranged marriages. OK, not quite – but have you ever thought about how matchmaking can apply to business? Read on…

In an introductory post, I opened up the idea of potential business opportunities that exist by thinking about The New Intermediation. The Ugly Graphic below depicts how this works:

Intermediary1

In a second post, we discussed the opportunity of Curation (filtering and delivering information) in the world of new intermediation. Today, let’s look at another manifestation of the new intermediation: Matchmaking.

A matchmaker is a key individual, platform, or company that has deep connections with a pool of people/providers, and then brings the right (targeted) resource to a client with a business or personal need.

Think of what recruiters (headhunters) do. It’s that kind of intermediation, but scaled in new ways and applied to other business problems beyond staffing.

My Impactiviti business (identifying optimal outsource vendors for my pharma clients looking for training/marketing suppliers) is one example of business matchmaking (see graphic here).

In Kansas City, my friend George Weyrauch has launched Rock Creative to provide a very similar service for creative types.

Another example familiar to many is HARO (Help A Reporter Out), the news/resource matching service launched by Peter Shankman. Reporters have always had a need to find subject matter experts. Many people who could be valuable resources are invisible to media types. So, HARO was born – a daily e-mail service where journalists looking for sources post what they need, and targeted individuals respond. Simple, brilliant matchmaking. And Peter is smarter than me, because HARO is fed-by-both-sides e-model that was able to be increasingly automated. I’m not jealous. I’m really not. OK, I’m jealous.

IntermediationHARO

(on a side note, HARO was bought by Vocus a year or two back. Creating a winning intermediation service can have quite a significant ROI!)

Our world of business has always run smoother because of intermediaries. There are bridges that need to be built – today, and tomorrow. Gaps are everywhere. Intermediaries see them, and create beneficial connections<<–(click to tweet this)

Many roles, of course, have been disintermediated through technology advancements. But other, digitally-fueled models have arisen. Sometimes, they are ePlatforms, like Match.com and eHarmony (where “matchmaking” is not a metaphor, but is the whole point!) Do you know of other matchmaking business approaches that you’ve seen recently enabled in our networked world? Do share in the comments!

The Business Opportunities of The New Intermediation

{Note: I am now blogging at my brand-spanking-new site, SteveWoodruff.com. Just click here to subscribe to the new feed. Bonus – you can also sign up at the same time for my astonishingly brief  yet brilliant e-newsletter, Clarity Blend (see sample), and when you sign up, you’ll get a free download of my helpful new e-book, Make Yourself Clear: Six Steps to De-fogging Your Direction and Your Message.}

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!):

IntermediaryDesign

The above is one particular expression of a generalized New Intermediation structure, which we can generically portray this way:

Intermediary1

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.

IntermediaryImpactiviti

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?