Page 40 - AC/E's Digital Culture Annual Report 2015

Cultural business models on the Internet405. Key aspects of a successful digital entrepreneurship strategyWeb 2.0 has empowered consumers and transformed the way companies need to relateto their customers, consumers, employees and stakeholders. People have more influence than ever, the possibility of being individual media. Only organisations – private or public, newor otherwise – that understand and engage in conversation with new users and their employees will be capable of retaining them and creating value.Only organisations that understand and engage in conversation with new users on the Internet will be capable of retaining them and creating value.The key aspects for creating a successful digital entrepreneurial strategy are:1.- Define your business model in detail. Itis important to specify in detail each of the key aspects of the business model and ensure you are positioned in the areas of greatest growth and investment:• Value proposition.• Market segments.• Customer relations. • Channels.• Sources of income. • Key alliances.• Key activities.• Key resources.• Cost structure.(Clockwise from top:)Value proposition Customer relations Market segments Income sources Channels Key resources Cost structure Key alliances Key activities Businessmodelgeneration.com2. Generate a differentiated and unique value proposition and try it out on a test market. It is important to be aware of our capabilities, identity the value we contribute to the market and focus our business model on areas in which we are truly unique. Create a product or service that provides evident value to people, solvesan unresolved problem or provides greater efficiency, and do not leave out any important steps from beginning to end. I recommendthe methodology set out by Bill Aulet75 in his book Disciplined Entrepreneurship: 24 Steps to a Successful Startup.76How to encourage entrepreneurship in the culture sector