💡 jabi... Steem should use the Renaissance Festival business model

in business •  12 days ago

We went to the Renaissance Festival on Sunday.
They have a very unique business model.
In fact, it's a pretty cool jabi...

What is jabi?

jabi = Just Another Bright Idea
pronounced jab eye
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I will share some random thoughts about the festivals.
Maybe you can pick out a golden nugget of an idea to help you with your Steemit adventure.

Who cares about their business model?

Maybe someone looking to find their niche here on Steemit.
Maybe an entrepreneur looking for a business jabi to use on Steemit.
Maybe someone who enjoys thinking outside the box.

What is a Renaissance Festival?

You can check out

Groups of people involved in the festivals.

  • There is a group who takes care of all the details (logistics) of the weekends.
  • There are vendors.
  • There are entertainers.
  • There are customers.
    • Together these groups are synergistic.
      • Together they create a very unique community that thousands enjoy every year.

From wikipedia

  • 250k visitors in Georgia
  • 192k in KC
  • 350k in Oklahoma
  • 120k in Germany
  • 678k in Texas

See, I'm just the kind of guy who thinks about "stuff" all the time. If I'm at a Festival, I think about cool things like their very unique business model.

They have created a money-making machine.

  • $6 beers & $8 mixed drinks
  • $5 for a pop and some candy
  • $50-125 brooms
  • ...
    • Clothes, mugs, jewelry, stones, rides, games
      • Niche products of all kinds for people who enjoy the Renaissance time period.

They created a place that collects thousands of customers to

  • purchase things from vendors.
  • enjoy entertainment
    • Without the entertainment, the people wouldn't come just to shop for overpriced goods they could probably find online or in specialty shops.
    • Several of the vendors did have websites.

They created an outlet for people who enjoy acting out the Renaissance time period. Pirates, wenches, jesters, wizards, witches, fairies, knights, ... At the KC RenFest, you can dress up as anything you like. You can even come dressed "normal" and if you wish, find something to "costume up" your garb. Wooden swords and shields were popular with the kids. Tails. Staffs. Leather goods of all kinds.

  • I enjoyed people watching as much as all the entertainment provided by the festival.
    • It was fun trying to picture these "actors" in their real world. Bankers, waitresses, truckers, construction workers, doctors, lawyers, who knows...???

Steemians need to think outside the box

Steem is a very unique business model.

  • They promise to reward content creators and curators.
    • People from all walks of life come to check Steemit out.
      • Some show their true selves and some are wearing costumes.
      • Some want to earn some money by providing a product or service.
      • Some want to be entertained.
      • Some want to entertain.
  • The recipe for Steem's success is
    realizing it takes all kinds of people and all kinds of content.
    • There is no such thing as "quality" content as too many tend to preach.
      • Some of you don't like that you can share nothing but a link over on @dlike or parley, but Google, Pinterest, and others have become quite prosperous doing nothing but just that.
      • Some of you don't like that you can share nothing but a photo over on @Steepshot, but Instagram and others have become quite prosperous doing nothing but just that.
      • Some of you don't like the idea of simply sharing what's going on in your life like what is promoted by @surpassinggoogle's #ulog site, but Facebook became quite prosperous "allowing" people to do just that.
      • Some of you don't like the idea of people investing in Steem and doing nothing but making a passive income from vote selling, delegation and such, but without investors, there would be no Renaissance Festival. There would be no Steem opportunity.
      • Some of you just need to take a chill pill and let everyone do their own thing here on this platform.
        Realize it is what it is.

I've said it before and I will say it again.

  • When we have over a 90% churn rate (people signing up and dropping out),
    perhaps the problem isn't them, perhaps the problem is us.
    • When we've got all these great tutorials about how to succeed on Steemit,
      and we've still got over a 90% churn rate
      perhaps the problem isn't them, perhaps the problem is us.
      • Most people either don't want to or can't live up to your expectations of a "quality" Steemian.
        perhaps the problem isn't them, perhaps the problem is us.
  • Maybe it would be better to just let people be themselves.
    Encourage dapp makers who are providing additional ways to interact with this platform.
    • That is Steem's recipe for success.
      • That is how churn rate will be reduced.
      • That is how hundreds of thousands of people will start interacting with our platform.
      • That is how we create demand for our tokens.
        Higher demand = higher value.
      • That is what it will take to get enough eyeballs looking at the Steem blockchain through all the different dapps, that finally advertising and marketing wizards will take note of us. When that happens, look for the value of our tokens to at the very least double and probably increase tenfold or more.
      • That is what it will take to get enough eyeballs looking at the Steem blockchain through all the different dapps, that finally entrepreneurs and craftsmen will take note of us. When more of them start selling their goods & services through the Steem platform, accepting Steem tokens, look for the value of our tokens to at the very least double and probably increase tenfold or more.

Build the Steem platform
using the Renaissance Festival business model
and we will see it succeed.

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