Business model

is a lot of challenges.

obviously I not only as a female founder but also come from China and I have to lead a team that is kind of sometimes people are older than me and have more local knowledge than me but there's a lot of mistakes there's a lot of figure out of what to do and how to lead as a female founder but I think now I designed a business model tree, which like this is our mission to save a million trees profitably.

And this is how we do it.

Our profit 10% for our people, 10% for charity.

You save a million trees, and because our revenue is linked to trees saved, and then if we want to do it profitably as well, then profit will come.

And so the profit will be 10% for our employee, 10% for... for charity and 80% for reinvest back to the business for business resilience.

So the whole business model is if we sell, we sell trees.

If we make profit, we can donate.

So Copart basically operates what it calls Title Express, and that's a product for getting the vehicle title released from the bank or the owner, then paying off the outstanding loan.

And that's part of a business model that sits somewhere between the insurance and the whole car business.

So do you have any idea why he would say that the whole car business could look materially different in a couple of quarters? I mean, do you think they're planning an acquisition or something similar?

I think the honest answer would be, I'm not sure.

Um, I think the first one would obviously be faster cycle time, because days in the yards is one of the most important metrics for companies like Copart and IAA, and those could obviously be reduced when CCC's total loss trigger directly wires cars to Copart's dispatch.

Maybe I was being a little too cynical, but [laughs] talking about data, as you mentioned, CCC has millions of historical claims, and Copart has the actual auction outcomes for millions of those cars.

And so I can see why combined that would be maybe the best business model that they could build for predicting what a damaged car will fetch.

And given that higher auction returns make totaling more attractive, a more accurate model surfaces more total losses.

You know, this is Money Making Conversations Masterclass.

What is your business model?

Well, you know, when I think about, you know, I love affordable housing, for one, because the city provides subsidies to make housing safe and affordable again.

We've been really dabbling around in this space, one, because it's so close to me, because I remember growing up over in the West Side of Atlanta, and to have affordable housing back in my day, it wasn't necessarily the safest.

Is it the same thing? Are you making...

the same amount of money per client, per scan, or are you just selling the machines outright? I'm kind of curious how the business model works here.

Yeah, the business model, we don't do a per scan business model.

I kind of hate that sort of thing.

I think it really builds a weird set of perverse incentives.

Really, really cool because I just want to be an example for them and for you guys that if I can do it, I mean, obviously so can you too.

You just have to have the right business model and the right support.

That's all I've got.

And then a lot of determination, commitment, and action-taking abilities.

Like I'm the happiest and the healthiest I've ever been.

I think the money plays a role in it.

Do I think it plays the role in it? No, it's just creating a business that lights me up, that feels really good and when you feel good, I think your results expand to reflect that and so when you create a business model that is simple, it's sustainable, it's scalable, it's aligned.

Of course, you're going to lean into it and then of course, you're going to get amazing results from it, especially when you're consistent and you're in business for the long run and it's easy to be in business for the long run when you actually enjoy it and you want to do it rather than I'm doing this to get a result.

And what we did is we learned okay, there are different types of states that have different routes to markets, different taxations, different regulations.

And if we can build that into our core business model, that allows me more effective on building that go to market.

So

going forward, were you like just studying like state laws and city laws for every single city and you just stumbled into it because you're like, I don't want what happened in New York to happen to me again.

Not yet.

There will be.

How does the business model work then?

Well, it's subscriptions and usage.

Banijay's recently merged with All3Media, now become the, the biggest independent production company in the world.

This is a comment from a few months back where he says, "I can't see a sustainable business model that can replace the current business structures, but we are already launching a few shows on YouTube to test the market." And I wonder when you hear comments like that, do you think, well, no, we're not gonna be able to replace the old model.

We have to accept we're in a new world order.

I think it's, it is different.

It all costs money-

Mm-hmm

... and we need to find a business model that, that, that works here.

This is The Media Show with me, Ros Atkins.

You, you, you see that a lot, right? It's just not their priority.

It's not their business model.

Nope.

And-

Well, they're, they're setting a price.

I mean, just to be clear on the business model, you subscribe-

Yep

... to these models, right? Some elements similar to aspects of Substack, like, oh, you have a paid newsletter or a free newsletter.

... is already on your phone, keep it there.

We don't want it.

But we wanna provide you the value, and that's why like from a business model and how we architected the company, if we build our technology this way, if we build our business model where we rev share with experts and we subscription with users, our incentives are aligned.

We're not trying to resell data or do weird sketchy stuff.