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Overview Rather than adopting a standard traditional business model, a

November 22, 2021

Overview

Rather than adopting a standard traditional business model, a business venture based on the concepts of a sharing economy represents a peer-to-peer business model in which the business acts as a matchmaker between individuals with a service to offer and others who want the service. Another emerging and perhaps more comprehensive term is collaborative consumption.

One advantage of a sharing economy business is the relative ease of entry into the marketplace. Often, the entrepreneur is able to begin by simply sharing available resources with others in exchange for currency or other value. You will be creating a Canva (Links to an external site.) document that describes your ideas for a shared economy business

What to Do (and How to Do It):

Prior to beginning work on this discussion, review the video How the Sharing Economy Is Changing the World | HowStuffWorks NOW (Links to an external site.) (2016), and read the Forbes article Airbnb and the Unstoppable Rise of the Share Economy (Links to an external site.) (Geron, 2013).

You are going to create a proposal for a business venture based on the principles of a sharing economy.

· First, do an observational scan of your immediate environment, its resources, and the resources you presently have available to you.

o Make a list of any shareable resources that you would be willing to exchange with others.

o What do you have that you would be willing to share with others in some way?

· Next, consider your present situation. What are you missing that, if you could somehow obtain it, you would be better able to accomplish what you would like to in life?

· Based on your analysis, outline a proposal for a shared economy business that you could start immediately with little or no money.

· Describe your proposal in a Canva (Links to an external site.) document using images that reflect the elements of your shared business. Feel free to use the images available in Canva or upload your own. Your proposal should include the following:

o Identify the resources to be shared and what is expected or desired from the business.

o Describe the exchange of value expected from operating the business.

o Assess what you will need to implement this shared economy business.

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