The fundamental business of the Knowledge Economy
K2$
The above is a symbol I created to represent the fundamental business model of the Knowledge Economy, which will become increasingly more cerebral as the Web 2.0 emerges.
K2$ stands for "knowledge-to-cash." It refers to the technologies, methodologies, processes, etc. that convert knowledge into cash.
It takes a lot of skill to be able to charge people for one's knowledge. Consultants, of course, have mastered this art. If you are a good consultant (especially to C-level executives), the minute you open your mouth, money starts pouring into your pocket.
Most professionals are not able to charge other people for their knowledge. The critical skill they are lacking is the ability to convert their tacit knowledge into explicit knowledge.
Of course, it does take a lot of training to be able to accurately depict one's knowledge on a piece of paper. But once this capability -- which I call the literary capture of knowledge -- is secured, one's fortune is made, because the explicit knowledge can then be easily shared with a limitless audience via the Web. The velocity at which this explicit knowledge is shared, of course, depends on the marketing skill deployed or hired.
The above is a symbol I created to represent the fundamental business model of the Knowledge Economy, which will become increasingly more cerebral as the Web 2.0 emerges.
K2$ stands for "knowledge-to-cash." It refers to the technologies, methodologies, processes, etc. that convert knowledge into cash.
It takes a lot of skill to be able to charge people for one's knowledge. Consultants, of course, have mastered this art. If you are a good consultant (especially to C-level executives), the minute you open your mouth, money starts pouring into your pocket.
Most professionals are not able to charge other people for their knowledge. The critical skill they are lacking is the ability to convert their tacit knowledge into explicit knowledge.
Of course, it does take a lot of training to be able to accurately depict one's knowledge on a piece of paper. But once this capability -- which I call the literary capture of knowledge -- is secured, one's fortune is made, because the explicit knowledge can then be easily shared with a limitless audience via the Web. The velocity at which this explicit knowledge is shared, of course, depends on the marketing skill deployed or hired.
posted by Super Peter at 11:14 AM
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