Author: David Haynes


I spent a lot of time recently trying to explain monetization to colleagues.

The term "monetization" may also be used informally to refer to charging fees for something that used to be free, or attempting to make money on goods or services that were previously unprofitable or had been considered to have the potential to earn profits. (Wikipedia)

Monetization is the ability to make money on an idea, concept, product, or service. Money, meaning profit, and not simply revenue (at least in my definition). Why is this important to you and your company?

TURNING FREE INTO PROFIT

How do you take something from free to monetized?

DATA + MAKING MONEY

So there is a lot of talk about that all data, information should be free to all.  Stay tuned later for another blog, but needless to say - data is free, but not manipulating the data to get the useful/relevant information you need. Therefore, the monetization is the manipulation (organization, synthesis, and usefulness).

Think about how to monetize your service, your product, and most especially how you will 'monetize' yourself each day. What is your personal value proposition. Read my blog post, Value Proposition - Why you Need One.

This post was originally published on David’s blog Connecting the [Data]...

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       David Haynes
David Haynes, NCARB, PMP, LEED AP
Ideate Director of Consulting

David is a Registered Architect, Project Management Certified Professional, who previously had his own architectural practice and was President of a commercial design–build construction company for 15 years. A graduate of University of Arizona, he has worked as an Architect, contractor, developer and as a national construction manager for a national retailer. David currently provides business process analysis, data integration, and change management solutions for AEC clients across the United States involved in the design and construction industry. Follow David on Twitter.



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