revellion (OP)
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September 08, 2011, 08:43:16 PM |
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Hi there,
I recently came across BitCoin via a business idea I've been considering. I'd like to share this idea with you now, and would appreciate the feedback/criticism of the BitCoin community. Thanks!
I have been working on an idea somewhat similar to the GLBSE, though it had nothing to do with BitCoin. I actually had never even heard of BitCoin until a few days ago. It truly was rather serendipitous, as is the path that even led be to BitCoin.
The idea that I've been thinking about, and on the verge of beginning to implement, is a crowd sourced business. When I say this, I am referring to a business model that is completely crowd sourced. All decisions, management, and production are all done by the crowd. This business is intended to be a "real" business, not a BitCoin one. I would like to offer BitCoin as a form of payment though. This business is to operate partially as a co-operative. It is to implement an open/transparent business model with a voting democracy for it's decision making processes. It's whole organization is to be determined by the crowd - even the naming of it. Primarily, the business would be developing it's own framework - framework being the voting system. After this framework has been completed, the business would then implement new projects/startups which utilize this same framework. All members of the business are able to submit project ideas. The aim of the projects is to earn a profit, but the profit is distributed across the contributing members. It's members would consist of individuals with strengths in Internet Marketing/Social Media, Business, Creative, and IT/development.
In my business model, the percentage of income would be dependent on the number of hours contributed. For example, in September, you as a programmer contributed 10 hours of work. Me as a graphic designer contributed 5 hours of work. John as a social media expert contributed 5 hours of work. Total, then, for September would be 20 hours and would be broken down as: You - 50%, Me - 25%, John - 25%. Perhaps this one particular startup that we are all cooperatively working on, has earned $5K profit in September. All profit are paid to the contributing members based on their hours contributed. In this example, you earned $2,500, and John and I both earned $1,250 (payment in cash or BTC.) Of course, if in October we did not earn a profit at all, then no one gets paid. There are a lot of other details I could explain surrounding this, but I'm unsure if you'll have the time or interest to read. In the end though, it's not even my decision how this works out - it's up to the crowd.
I'd like you to consider something. Consider this particular start-up that I am am proposing. What would I need to do in order to help it come to fruition? Perhaps, it may look something like this;
- Create a Business Plan - Develop a website - Develop a marketing plan - The website needs registration capabilities - The website needs voting capabilities
We'll call that list our Product Backlog. It can change, items can be removed, added, etc. They are vague, and short. Perhaps you're familiar with "User Stories"? These are all User Stories. These are voted up and down in order of priority. Your votes (by the way) are relevant to the hours you have contributed to the project. Each week (or every other week), the top voted "Product Backlog item" is selected. Let's say "Develop a website" is the top voted item. We then take this item, and break it in to numerous modules:
Develop a website --- User Interface --- Logo --- Wiki --- Forum --- Registration Capabilities --- Content --- etc..
All of the modules are then "jobs" available to anyone. I'm not 100% sure as of yet, how it would be determined 'who' to give the job to. For example "Add a Wiki" could be a job, and perhaps there are 10 'applicants' volunteering to complete this job. They all submit how many hours they wish to complete this. Only one person will end up being responsible for this task. He says he will require 2 hours to do this. At the end of this stage, our modules for the "Develop a website" task looks like this:
Develop a website (23 hours) --- User Interface (5 hours) --- Logo (3 hours) --- Wiki (2 hours) --- Forum (3 hours) --- Registration Capabilities (5 hours) --- Content (5 hours) --- etc..
Essentially, this is how the process works. All of these tasks & modules are all for this startup Project. After working 'n' number of hours, anyone can post projects, and the process repeats itself. Perhaps you have an idea for a startup to design your own running shoe on-line. You post the project, it awaits for votes to get 'accepted', and the process begins again.
This is just a very high level overview of my concept. Again, it's tough to even describe, because I'm not the 'decider' of it all - everyone is.
Feedback and criticism is appreciated.
Thanks
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