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How can you best do business model innovation? We selected 10 tips from our client work in the last 2 years to share with you. Njoy business modeling!
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10 tips for business model innovation
www.businessmodelsinc.com
In the last 2 years we have been working with more than 40 international clients from start-‐ups to corporate organizations on business modeling. We put all our experiences together and came to the following list of tips for business model innovation.
Njoy business modeling!
www.businessmodelsinc.com
Tip # 1
Map your current business model on a large poster with 3M post it notes.
It is important to start with your current business model first. This will create a shared language with your team members AND more than 70% find opportunities for improvement.
Post it notes that stick are helpful working on the wall. Sorry, 3M works best.
Tip # 2
Don’t try this alone. Let your colleagues help you!
You’ll get much better and faster results if you map a business model with other people like your colleagues or team members. Different perspectives offer new interesting insights.
Tip # 3
Visualize your business model!
After you have put the post-‐it notes on the business model canvas, it is hard to explain the results to others. Visualization of your business model will support your optimization and innovation discussions.
Tip # 4
Translate 3 trends into your business model!
Source: www.trendwatching.com
We know what’s going on in our market place. But do we translate trends and developments into our business model? Can we transform it into value for our (potential) customers? Translate 3 trends into your business model!
Tip # 5
Learn from other business models!
Do not think you need to re-‐invent the wheel. Easyjet learned from SouthWest…
If you model other business models in to the canvas, you will be amazed how much you can learn from them.
Tip # 6
Do not rely on 1 model, build prototypes.
The world is not predictable. You do not know if your business model will work. Build prototypes to shorten time to market and learn by doing building business model prototypes.
Tip # 7
Apply business model patterns
What happens if you apply business model patterns to your business model? Does the longtail affect our model? What happens if we we offer things for free?
Tip # 8
Build a (self) sustainable business model.
Built a (self) sustainable business model
In this business model from a saw mill in Tanzania, the chopped wood is re-‐planted. By this means the business model is self sustainable.
Can your model be self-‐sustainable?
Tip # 9
“Show me the money!”
If your business model will not make any money today, it most probably won’t do tomorrow. So, “Show me the money!”
Tip # 10
Consider Beyond Profit
profit!potential!
+!
+!
−!
−!
old school corporations!
old school not-for-profits!
new school of conscientious entrepreneurs!
social impact!potential!
Nowadays there is a new school of entrepreneurs emerging. Profit with a purpose.
What is your purpose besides profit?
Ooops!
Use the business model canvas ;-‐)
The
Try to explain a business model without the canvas… This one might look obvious, but it isn’t. Use the business model canvas for business model innovation.
www.businessmodelgeneration.com
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