This week, Bizmore.com, a new website providing expert advice and guidance for small and mid-sized businesses, went live. With former junk bond king Michael Milken as a major investor, the site will respond to specific questions posed by executives.
Advice will be provided by industry experts and peers within the industry. Experts include David Allen, organizational and personal productivity guru; Jeffrey Pfeffer, management and strategy professor at Stanford Graduate Business School; Gary Hamel, management and strategy expert, and professor at London Business School; Libby Sartain, an HR specialist; Jason Jennings, a leadership advisor; and others.
According to a July 29 New York Times blog article by Brad Stone, Bizmore is a subsidiary of San Diego-based Vistage International, an executive coaching and networking organization, which is partly owned by Milken. Vistage has so far committed about $10 million to the venture, The Times article states.
Rafael Pastor, Vistage CEO and a former EVP at News Corp., told The Times that Bizmore's opportunity is to provide "instantaneous information that is very tailored to a specific question or need, which some of the old media organizations couldn't do even when they were at their height."
According to Stone, the experts who answer the questions are unpaid for their services, but a possible spinoff could be additional sales of their books and lectures.
The site will also include contributions from freelance writers on various business and management topics.
The business model for the site is to gain advertising as the site increases readership.
If Bizmore can maintain and increase the contributions of its high-profile experts, my sense is that more and more traffic will be driven to the site.
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