Income Reengineering

Income Reengineering offers a large scale, visionary solution for the future workplace.

1. What is the problem that you are committing to solving? 

The problem this solution addresses is the decreasing middle class and the rise gap between rich and poor brought on by the application of information technology in the workplace

2. What is the solution you are proposing? 

The solution is the large scale application of a new online business production process called Income Reengineering.  The solution involves applying information technology to radically transform the workplace is ways that insures workers benefit significantly from technology lead workplace transformations and not be a victim of it.  

For example, Michael Hammer and James Champy, in their 1993 book Reengineering The Corporation, defined the word Reengineering as the “Fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance such as cost, service, and speed." This lead to a popular corporate restructuring process called Business Process Reengineering (BPR). BPR was great for corporation, but horrible for employees and it continues today as the middle class continues to decrease and gap between rich and poor continue to rise. 

Income reengineering is the counterbalance initiative to business process reengineering. Income reengineering is defined as the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in the income earning and wealth building ability of the average worker while he or she is on the job.

More specifically, Income Reengineering will effectively integrate a new information technology centered compensation model into the mainstream workplace called the Empowered Employee Compensation Model (EECM). The EECM will eliminate paycheck to paycheck dependence on a large scale and shift employee thinking and focus away from just earning a paycheck to running their own business under the roof of employers in collaboration and with the support of employers.

So, how is this done on a large economic scale? Consider this for simplicity.  If we throw enough stones into a bucket of water, we will eventually replace all the water in the bucket with stones, regardless of the size of the bucket of water.  In this scenario, traditional wage/salary based employment is the bucket of water and grassroots lead EECM enterprise formations are the stones.

The details regarding grassroots EECM enterprise formations are comprehensive and cannot be explained in this 500 word overview.  I offer significant detail in the About the Solution section below. 

However, in general, grassroots lead EECM enterprise formations are the building blocks for Income Reengineering process. The Income Reengineering process is an internet centered, peer to peer production and crowdfunding process that grows and expands according to a four (4) stage business plan with Stage 4 being the corporate integration stage. When the process reaches Stage 4, water will start spilling over the top of the bucket. 

3. How will your solution change the world?

Income Reengineering will result in a 3-fold increase in the aggregate standard of living for both employees and employers

Income Reengineering represents new and innovative applications of the internet and crowdfunding toward radically transforming the mainstream workplace as we know it:

1) Internet Application: New and large scale applications of peer to peer collaboration and co-creation methodologies

2) Workplace Application: The Empowered Employee Compensation Model (EECM)

3) Crowdfunding: The Empower the Crowd First Crowdfunding System (ECFCS)

4) Crowdfunding: The Gradual Entrepreneurial Allocated Resource System (GEARS)

5) Crowdfunding: Virtual Income Machines  (Virtual wages, virtual dividends, virtual bonds and virtual stocks)

6) Online Operations: The Income Reengineering Business Development (IRBDN)

Review the Rudiments of Income Reengineering video below.

The foundation of the EECM is an advanced and large scale application of crowdfunding called the Virtual Income Machines (VIMs). Once in place, workers can access the VIMs to secure funds to paydown bills, build-up savings and generally build a financial foundation leading away from paycheck to paycheck dependence.  This way, workers can comfortably take advantage of the income and wealth benefits of the EECM without worrying about hourly pay

The EECM strongly promotes knowledge work and technology skill sets. To this end, workers can access the VIMs to fund upskill or reskill continuing educational needs (see video below). 

Our primary goal in the next 12 month is to use the internet, social media and our operational business plan to promote and teach the Income Reengineering vision to at least 1 million people and get constructive feedback.  This is research to determine what is required to get large scale buy-in into the Income Reengineering vision, which is critical to operations.  See the Rudiments of Income Reengineering video below 

The Income Reengineering process grows and expands according to a 4 stage business plan.  In 3 to 5 years, I anticipate we will be in Stage II and/or transitioning to Stage III of operations.  At Stage III, millions will be engaged in active online peer to peer and collaborative dialog, accessing the VIMs for funding and generally preparing to transition to full time employement in an EECM enterprise.  See the Rudiments of Income Reengineering video below 

All marketing, promotion, education and day to day peer to peer production and operations happens under the umbrella of a free membership organization called Income Rengineering Business Development Network (IRBDN).  IRBDN is the operational leg that will serve as the central point of operations and communication for all customers and beneficiaries. 

I serve the public through the free IRBDN membership. Currently, I have no members since I haven't started promoting the membership to date.  Formal prelaunch starts in Sept 2018.

Currently, I'm building my early prelaunch team using a marketing and promotional platform called the Think Big Mastermind Alliance.  This is where I'm getting early advice and feedback and effectively prototyping the operational business models prior to the September IRBDN launch.   

Given the scope of the Income Reengineering Vision, in 12 months, I anticipate having at least 1 million members.  In 3 years, potentially 100 million.  

I will serve people primarily by providing a free online platform, called the Income Reengineering Business Development Network (IRBDN), where:  

1) People learn and study and Income Reengineering vision and the Empowered Employee Compensation Model (EECM),

2) Collaborate with other members toward forming new EECM enterprises  

3) Secure crowdfunding from IRBDN crowdfunding resources required to launch and staff the EECM enterprise. 

4) Secure free marketing support for newly formed EECM enterprises  

I'm an ex-aerospace engineer turned business consultant and entrepreneur (Resume: www.dwightchestnut.me). To move the project forward, the only skill I need is the marketing and networking savvy necessary to promote and present the vision and the operational business plan. 

Starting part time, as I market and promote the vision, I will find and bring on the talent I need to run operation. Myself and those who join me collaborate, run and grow operations under the free membership network called the Income Reengineering Business Development Network (IRBDN). 

See thinkbigmastermindalliance.com/dchestnut for my early promotion and staffing model 

The revenue model for M.I.N.D.S. consist of 3 parts:  

1) Simple marketing affiliate revenue where we market hundreds of value added products and services via email to IRBDN members

2) Advanced marketing affiliate revenue linked to establishing strategic partnerships with IRBDN Originating Partners. Originating Partners represent one of several entrepreneurial incubators operating under the hood of IRBDN

3) Advertising revenue as the IRBDN online platform grows and expands its membership and participation. 

I ran across Solve on Twitter just recently. Given that I'm looking to formally launch the Income Reengineering Business Development Network (IRBDN) in September, I thought this will be a great opportunity to get early advice, feedback, possibly organizational and partnership support.  I'm currently building an early mastermind team in preparation for the September launch (see Think Big Mastermind Alliance).

The key barrier to this solution is getting mass or large scale buy-in to the Income Reengineering vision. Given that the Income Reengineering vision offers a radical departure from the traditional workplace paradigm, this will be a challenge.  

We intent to address and solve this issue stage by stage through the peer to peer based economic research underwriting the Income Reengineering Process.  Solve can help support this economic research by serving as a promotional and operational advocate for this economic research