Community based business model
Building and thriving a community is a legacy business model, expanded by the internet. This is a business model where scarcity is reflecting in owning a monopoly on the topic that people are talking about, having a monopoly over the platform where people discuss their point of interest.
With internet this business model began to thrive, but as well came with the risks of its own. Thriving came at the explosion of intermediary communication that emerged as a consequence of internet and multimedia being cheap as medium of communication.
If you want to build a community based business model, you have to initially build a community, which will allow you the monopoly over the location where the discussion takes place. You can’t achieve this if you don’t literally “own the platform” of conversation.
This virtually means that you need to own a communication channel. Be it your website, mailing list or some third form of control that is 100% in your property.
Building a community pays off if you are willing to invest long term. It’s a strategy, but not a one that gives instant results.