The Zero Transaction Cost Entrepreneur: Powerful Techniques to Reduce Friction and Scale Your Business

Dermot Berkery, a veteran venture capitalist, uses transaction cost economics to identify future business propositions that can succeed long-term. He explains how eliminating transaction costs between customers and businesses can transform the customer experience and unlock profitable opportunities. Berkery provides actionable techniques for discovering valuable new opportunities, from small-scale and incremental to large-scale and transformational, using case studies of successful ideas that reduced or eliminated transaction costs.

Format: Hardback
Length: 240 pages
Publication date: 31 August 2023
Publisher: McGraw-Hill Education

Veteran venture capitalist Dermot Berkery has unveiled a groundbreaking construct for identifying tomorrow's top business propositions, drawing upon fundamental economics, particularly transaction cost economics. In his book, "The Zero Transaction Cost Entrepreneur," Berkery shares his invaluable insights and strategies for eliminating transaction costs between customers and businesses, thereby revolutionizing the customer experience and unlocking profitable opportunities.

By eliminating the barriers of trust between prospective drivers and riders, Uber exemplified how reducing transaction costs can expand into global markets. Berkery guides readers through the process of identifying and eliminating transaction costs in any business, providing real-world examples and effective approaches to drive significant profits.

Chapters in this comprehensive guide cover various aspects of transaction costs, including:

* Falling transaction costs: Analyzing the shift from Blockbuster to Netflix and the impact of reduced transaction costs on consumer behavior.
* The eight major categories of transaction costs: Exploring the various types of costs that businesses encounter and strategies for mitigating them.
* The way transaction costs shape our lives: Examining the pervasive influence of transaction costs on various aspects of our daily lives.
* The journey toward the zero-transaction cost world: Discussing the potential for a future where transactions are seamless and cost-free.
* Why transaction costs are now falling rapidly: Analyzing the factors driving the decline in transaction costs, including technological advancements, increased competition, and changing consumer preferences.
* The trifecta of accelerators: Exploring the role of idle assets, the internet of things, and marginal cost pricing in driving down transaction costs.
* The power of swarms: Investigating the collective intelligence and efficiency of swarms and their potential applications in business.
* Getting micro-disaggregate: Understanding the benefits of disaggregating specific tasks or processes to optimize efficiency and reduce transaction costs.
* How governments can stimulate entrepreneurship without spending money: Discussing innovative policies and initiatives that support entrepreneurship and promote economic growth without significant financial investments.

Through compelling case studies of successful ideas that reduced or eliminated transaction costs for customers, Berkery illustrates the practical applications of his insights. "The Zero Transaction Cost Entrepreneur" empowers readers with the knowledge and tools to identify and capitalize on opportunities in today's rapidly evolving business landscape, ultimately driving long-term success and competitive advantage.

Weight: 448g
Dimension: 162 x 236 x 27 (mm)
ISBN-13: 9781265399917