The Secrets to Turning Your Business into the Next Amazon Lies in Your Digital Exhaust

As a serial entrepreneur and business coach, I am constantly studying business trends, so it takes something or someone special to stand out and impress me. Among the sea of business strategies, one of the most phenomenal things is the concept of data mining and monetizing digital exhaust. And if there’s one person who is an expert on this topic, it’s Chuck Boyce of Datamoo.

Boyce is a computer and data nerd who taught himself to code and interpret data decades ago. He has a mind for systems, automation, efficiency, cost control and profits, which is why top-level corporations, including Estee Lauder, Chase, McKinsey & Company, Calvin Klein, Dun & Bradstreet, Sony and City Corp, have tapped him to troubleshoot and coach them toward greater success.

After decades of helping major companies reach exponential profits, Boyce started his own business, which he recently sold for 40 times multiples. He now has the freedom to do what he wants to do for a long time, but the same day he sold his last business and signed the final paperwork, he started his new venture, Datamoo. 

I recently had an extended conversation with Boyce on my podcast, and he did a great job of explaining a concept that seems complicated but is actually quite simple if you know what to look for.

To understand Datamoo and Boyce’s expertise, you have to understand three things: 1) Data is the currency of modern business,  2) The value of data in a business can be substantially higher than the business itself, and 3) Nearly every business is creating constant streams of data, which is known as digital exhaust.

Digital exhaust is any data you collect, the dozens of unique data points that every business gathers — demographics and psychographics, IP address, email and mailing addresses, analytics, buyer personas, transaction data, geolocation, cell phone numbers and more.

You could think of digital exhaust in terms of cows producing methane. Just like methane is a natural byproduct of a cow doing its thing, data is a natural byproduct of a company doing business in the modern world. Unfortunately, we can’t monetize cow farts (but imagine if we could!), but we can capture and monetize a business’ constant streams of digital exhaust.

Discovering your business’ hidden data assets and finding ways to monetize them is the key to increasing the value of your business and reaching next-level growth. This is how Boyce managed to get 40x earnings when he sold his last company. 

The issue is, most businesses can’t see their digital exhaust. It’s right underfoot but it goes unseen and uncaptured. It often takes an outsider with a macro view to point out its existence and potential value, which can be worth 4 to 40 times (or more) a company’s transactional value.

Boyce sees four levels of business operation, and a business’ level boils down to how it uses its data.

Level 1: In a Level 1 business, there is typically one channel of revenue. The business is transactional and customer-focused, and the digital exhaust is untapped. Many successful businesses stay at this level forever.

Level 2: Here the business looks outside the immediate transactional revenue and how data can create potential relationships and partnerships and create a multiplier effect. There is a network of customer and business interactions, and the company is building intellectual property and tools that help it interact with other businesses.

Level 3:  At this level the company is monetizing assets that already exist within the business, such as data, intellectual property, tools, licenses, apps and APIs. At level 3, a company is milking its data and monetizing its digital exhaust to increase its revenue without increasing overhead or building new systems. 

Level 4: Level 4 companies are platform companies, integrated deep and wide into daily lives on multiple levels. Apple and Amazon are the perfect examples. For example, Apple sells computers, phones and watches as well as data services, and TV and movie programming and handles credit card processing — all of it fully integrated for the customer.

Boyce spent 15 years mining his business data and now helps others do it simply. His goal is to level up every company to a Level 3 or 4. He has done it himself and clearly sees the path of going from a transactional-based business to a business with a multiplier effect to a subscriber or arbitrage level to a platform level.

The most important thing? “You have to believe you can level up,” he says.

Datamoo works best for companies that have a high volume of transactions or companies that have documented processes and systems and are looking for shortcuts to increase their value.

Datamoo’s free downloadable tools include a Value Multiplier Scorecard to get an idea of your current level, a Profit Levels Worksheet that teaches you to increase the bottom line, a Sources of Hidden Value FAQ to find your hidden assets, and a Masterclass PDF Workbook to start implementing level-up strategies. He also leads group workshops and one-on-one coaching with select clients.

“I have found so many entrepreneurs who were struggling like I was,” Boyce says. “In days and weeks, I can transfer 15 years of wisdom and knowledge that can be used to multiply and monetize digital exhaust quickly. It doesn’t have to be hard. It doesn’t have to be a struggle. You don’t have to do it yourself and you don’t have to create something new. I’m here to show you how what you’ve built for yourself can be multiplied. I will share everything I’ve learned and you can get to the promised land or exit ramp and the sense of financial freedom you want.”

The secret to turning your business into the next Apple or Amazon lies in your digital exhaust. Chuck Boyce has devised an ingenious method of turning your business’s digital exhaust into assets that are worth more than your actual business. 

Make sure to check out our entire interview here.

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