Skill4Skill’s business model is based on the business model canvas.
Key partners: Are very limited, since Skill4Skill serve as an online intermediary for the users/customers.
Key Activities: The key activities for Skill4Skill is the dependability of the website and the continuously innovative development of the website.
Key Resources: The key resources of Skill4Skill are the people involved and their know-how of running an online business.
Costs: The dominating costs of Skill4Skill are the on-going expenses to maintenance, server and operational costs.
Value proposition: Skill4Skill serves as a facilitator of the sharing economy and offers users a unique online marketplace from where they can wallow in the opportunities provided by Skill4Skill.
Customer Relationship: With a relationship rooted in the web, there is a common understanding that the automatic and self-service is a inherent part of the process. Our role is that of the facilitator and enabler, rather than the provider and leader. Where we serve as a medium and tool for the users to communicate and exchange skills.
Customers: Customers are all those who have any practical skill which they are able to utilize and willing to share with others, in order to trade for other services. The willingness of the customers largely depends on the price elasticity of the respective users; low elasticity, results in higher pull.
Revenue: Our cash flow is largely made up of advertisement on the site. The advertisements are targeted in such a way that the data which the users have supplied, is aligned with that of the advertisers
Channels: With a non-existing advertising budget, we heavily rely on word of mouth as a source of communication to our customers.
The brains behind the start-up:
Formed in the first class of Mobile Reputations, at the CBS Summer School, the Skill4Skill team quickly found common ground regarding the potential benefits of a collaborative networking platform. With different backgrounds and experiences, each member of the 5 person team contributes with something different and together they came up with a solution to a problem experienced by many. While the Skill4Skill service-networking platform has several obstacles to overcome, we are confident that it can provide a useful tool for a huge community across the globe.
Tobias Urban Hansen – Finance and legal
Kristian Shafer- Business Development
Ina Jørgensen – Communications @Ina_joergensen
Sophie Raie Ash-Collins – Creative @RaieAshCollins
Sandra Maria Nikkila – Marketing
The introduction and increase in the use of service networking has brought many new opportunities for new business models. We are moving towards a society focused on sharing and collaborating rather than owning and consuming.
The new collaboration economy enables us to match our wants with haves in a more democratic way.
The sharing economy and collaborative consumption makes it possible to add value through networks, allowing us to remove the monetary factor and trade skills instead. That is where Skill4Skill comes into play. Pairing wants and needs with haves and skills; Skiller’s can fulfill their needs by meeting the needs of others.
There is a growing community of individuals seeking more naturally sustainable solutions in everyday life and this collaborative platform will enable a method of utilising each other’s unique capabilities. The Skill4Skill network is based on an ecological way of thinking, giving the Skiller’s access to unused resources.
Members of the Skill4Skill network become prosumers in that they are both consumers and producers, adding value to receive value.
Skill4Skill fits into the personal services sub-class within Jeremiah Owyang’s Honeycomb model 1.0 (fig.1), but differs from most of the other businesses already present, as it involves an alternative method of payment. The value of a skill can be increased through ratings from other Skillers, which will be visible on a personalised profile. Trust forms the basis for the success of the service-networking platform and will determine the extent of the network impact.
fig.1 Collaborative Economy Honeycomb (http://www.web-strategist.com/blog/2014/05/05/framework-collaborative-economy-honeycomb-osfest14/)