The Zero Transaction Cost Entrepreneur: Powerful Techniques to Reduce Friction and Scale Your Business

Summary

For many business professionals, the daily "to-do" list is hard enough to stay on top of, let alone coming up with the "big ideas" necessary to take their company—or a whole economy—to the next level. But if coming up with those ideas—or finding startups that do—is your job, then The Zero Transaction Cost Entrepreneur is an absolute must-listen for you.

In this book Dermot Berkery shares the key ingredient successful businesses have in common: Smart transaction cost economics. Simply put, these businesses lower or eliminate transaction costs for their customers. Here's just one of the real-world examples you'll find within: Blockbuster Video scored big by making movies easily available to rent; that's a reduction in a transactional cost. Netflix then removed another transaction cost—a trip to the store—sending DVDs through the mail. They tackled other transaction costs—limited choice and wasted time—by moving to streaming.

In this book, you'll discover how transaction cost economics can work for you, in chapters that include: Why Do Other People Come Up with All the Brilliant Ideas?; The 8 Major Categories of Transaction Costs; Makers of Products Need to Transform them into Services; Why Are Transaction Costs Falling Rapidly Right Now?; and The Trifecta of Accelerators: Idle Assets, the IoT, and Marginal Cost Pricing.