(This is a business case study. It will be used to guide discussions during the session: “Money, Money, Money: How the Paysite Pros do Billing – Regulatory Changes” with co-hosts Mitch and Thierry of Vendo at the Paysite Meetup.)
“Wow…I have no idea what that means,” Matt thought as he read the latest announcement from Big Brother. Not the TV show. Just the all powerful payment regulator that seemed – like the TV show – to enjoy changing the rules and watching him scramble to adapt. “Maybe I should call them ‘Survivor’ instead,” Matt thought to himself.
There had been rumors of a change. This particular announcement had been in the works since Big Brother Global bought Big Brother Europe. Their rules were different. “Whose rules will be kept who’s will be thrown out?” wondered Matt.
Unfortunately, the announcement clarified almost nothing. Matt thought back to the one journalism class he took at university. “This totally fails the 5 W’s test,” Matt thought.
- Who was involved?
- What happened?
- Where did it take place?
- When did it take place?
- Why did that happen?
All he knew was that he was going to have to move quickly. If he imagined the worst case scenario possible (and this was the only responsible thing to do) then it could be too late to avoid fines and serious revenue loss. He had to get to work. First, to really understand what was happening…then to react.
- How do you see what is coming next in time to develop a strategy?
- What particular changes should you be focused on now?
- There is a difference between what is written and what is enforced. How can you understand what really matters?