Andy is monetizing answers – The missing piece of the puzzleMarch 16, 2012
Thank you Sandra and Andy Kurtzig for an inspiring session at Stanford ecorner the other day. Mother and son, both serial entrepreneurs, booyah!
Watch the full video on: http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2868
Although Andy, founder of JustAnswer, falls short of the 400 million turnover his mother generated with ASK Corporation (no parallel to JustAnswer), he is extremely successful with JustAnswer.
Andy is in pole position in his particular segment of the knowledge market. Moreover, he has proven that people are willing to pay for good answers.
JustAnswer is currently answering thousands of questions each day at a price of $20-30.
The recipe is straightforward:
- Quick answers
- Certified experts
- 100% money back guarantee
This medicine allows Andy and his experts to monetize knowledge in the form of Answers – the missing piece is the knowledge market.
Other categories in the knowledge market include Indexed information, Data, Digital products, Tasks and Services. They are all well underway in terms of monetizing but the Answer-category has lagged behind. Andy and others are changing this.