A few days ago, I posted a blog entry about the power of crowd sourcing, and why the model allows customers to find viable $1 solutions to $100 problems.
Consultants might feel ripped off by the crowd sourcing idea, because it seems to exert downward price pressure on their fees. If you charge $100 an hour to provide a service that someone else provides for $10 an hour, isn’t it game over? And shouldn’t you work as hard as possible to preserve your margins?
You’re right to be skeptical, but you’re wrong to think in terms of service. You have to think in terms of products and the long tail.
You have only 168 hours a week in which to sell your services, but there is no limit to how many products you can sell. That’s the first attraction to taking what’s in your head and turning it into a product that can be found and consumed on a marketplace. It’s all the difference between giving two lectures a week for $200 each time and selling 500 $10 books with that same lecture text on Amazon. This raises the second attraction: passive revenue. Billing for services is hard work. Collecting passive revenue from products is easy, once you’ve done the initial work of monetizing your service.
Now let us take the real example from cumulusIQ Knowledge Marketplace. Here is a sharp guy Doug TanBrock Sr. He is an excellent SAP QM consultant with years of honed in practical experience implementing SAP Quality Management. He has worked on so many SAP QM implementations that everyone wants Doug on their project. But how can he afford to be on every project, even if he want to. The rule of 168 hours restrict his available time.
So Doug took the effort in taking all his years of honed in practical consulting knowledge and turned it into a product in this 30 track SAP QM videos, that now sell on cumulusIQ for less then $2000.
This includes all QM business processes, implementation considerations, step by step walk through of all QM transactions in SAP. Normally if you are are a business implementing SAP QM transactions, you would spend close to 10 times that amount paying an SAP QM consultant to transfer that knowledge to you. In addition you have no real good way to going back and accessing this knowledge once this consultant has left your company. I would highly recommend any organization going through SAP QM implementation to buy Doug's SAP QM videos before going through SAP Training or hiring an SAP QM consultant. Going through these videos will insure you are as smart as the consultant/consulting company you hire for SAP QM implementation.
Here is the link, if you are interested in buying the entire QM consulting knowledge:
Think about it from the SAP perspective and you’ll see that the long tail of future opportunity is the SMB market. This is the great untapped mother lode; these are the folks to whom you want to sell your services. The problem is that this is a large and fragmented market. It isn’t the cozy insider’s world of Fortune 500 SAP implementations. They won’t post on Monster or Dice. They won’t go to recruiters. cumulusIQ is attractive to this audience because of the breadth of our services; it’s where they come to search for any and every a la carte SAP service they need. As an SAP consultant, cumulusIQ is your Amazon, and your gateway to the opportunities of the SMB market.
Take your services expertise and turn it into consumable products—programs, videos, articles—on cumulusIQ, then let the market come to you. You’ll have a new, passive revenue stream while making contacts that may lead to conventional engagements.
If you are an individual looking for SAP QM click here or a SAP Business interested in signing up with cumulusIQ..