How Can You Monetise Your Services in Sharing Economy

Sharing economy movement has been a fast rising business model over the past few years. 

In simple terms, in a sharing economy, members can ‘rent’ or share under-utilised assets such as cars, homes, personal time or other services to other members similar to a peer to peer model. 

What is sharing economy 

“a shared or sharing economy is an economic system in which assets or services are shared between peers or businesses for free or for a fee.”

The idea behind a sharing economy is to optimise the use of products or services - and improving their longevity.

Even though the term Sharing Economy was first coined in 1978, it wasn’t till 1995 when eBay was launched did Sharing Economy gain momentum.

In the past few years, sharing economy movement saw rapid growth. From the early days of Airbnb, we now have large players like Couchsurfing, Uber, BlaBlacar and more amongst thousands of sharing economy platforms active in several sectors ad industries. 

According to Brookings, The sharing economy is the fastest growing industry,; it is estimated to grow from $14 billion (2014) to $335 billion (2025).

What are the benefits of the Sharing Economy 

• It is environmental friendly 
  
  Sharing economy ensures products are cycled and reused to their complete life cycle, thereby, reducing the effects on the environment. Since same asset is shared amongst a number of community members, the overall carbon footprint is reduced. Low consumption means low impact on environment. 
  
  
• Fosters a culture of self-employment & entrepreneurship
  
  In sharing economy model members can offer their private products and services to others. Some well-known examples are apps like Uber & Ola or eBay where people can sell their unwanted good to those who want them. This movement offers opportunities to the sellers to become independent of a regular salaried job and set up their own businesses. 

• Less stress on asset ownership, more on asset optimising 
  
  Gone are the days when owning assets was a status symbol. Today, lean consumption in. Many younger people see assets as a liability. For example, owning a car in urban areas means dealing with car loans, insurance, regular maintenance, and whatnot. However, by sharing cars or rides with other members of the community these headaches completely go away. 
  
  Sharing economy emphasises on getting most of the existing assets, instead of possessing additional assets that you will not use to their full potential. 
  
  
• Creates a sense of community & trust
  
  Sharing economy pioneering business have been instrumental in mainstreaming the sharing economy. 
  
  Once upon a time, it would have been unthinkable to invite complete strangers to stay overnight in your home. Thanks to Airbnb or Couchsurfing not only the homeowners are able to benefit financially, but also create a sense of trust within the community. 
  
  The platforms like Airbnb, Uber etc are based on ratings and review system which allow their members to make a safe and informed decision and help with a positive experience. The same features also ensure that members comply with the platform guidelines and respect the shared resources for everyone.  
  
  
  

Learn how to monetise your services in sharing economy

Join our partner, GetBEE founder and CEO, Thea Myhrvold for an informative webinar "How to leverage the sharing economy movement to effectively monetise services online?".

What will you learn in this webinar: 

In the present day, the sharing economy has made exponential gains since its digitised introduction in 1995 and it is estimated to grow from $14 billion in 2014 to $335 billion by 2025.

While monetising time remains a continued tradition in a capitalistic economy, the methodology continues to evolve with technology. Companies are feeling more and more the need for an effective digital transformation in order to start exploring the sharing economy opportunities but very often they do not know how to start their own digital platforms for services.  

Speaker:

Thea Myhrvold, GetBEE Founder and CEO

Date:

TBA - coming soon!

Speaker Profile:

Thea is a proud founder and CEO of awarding winning and internationally recognised startups and brands like TeachMeNow and GetBEE. She is passionate about making knowledge and expertise accessible to all. Empowering entrepreneurs, business, and public sectors to digitally transform and scale their reach globally. Thea has spent nearly a decade in her entrepreneurial journey, and truly knows what it takes to scale and execute from a simple idea to a global business.