Top 10 Reasons to Start with Business Model Innovation
In the last 5 years since we published Business Model Generation we have supported over 250 clients with Business Model Innovation. We asked them the following questions. Why did they contact us, what issues did they encounter?
- Revenue is decreasing: getting the revenue streams back up, through new business, new products & services.
- Competitors are popping up: how to react to new and less traditional players in the market?
- Changing customer needs: due to technology and use of the Internet customers are changing. they need to know their customers, find out how to create and add value, and find new ways and channels to attract customers.
- Reacting to trends in the market: change from a product-oriented to a service-oriented organization.
- New Concept or Startup: design a new business model for a new business idea, test it in the market, make the idea concrete and actionable.
- We need to get clarity on our future direction: strategy on 1 A4, clarity about what steps to take, what to do and what not to do.
- New Management Team or Fusion/M&A: design a mutual strategy.
- Create a common language: understanding our current business (model), everyone in the organization heading in the same direction, together, faster.
- Growing market and opportunities: understand market trends and opportunities and define a strategy for the future.
- Empower our team: give them the right tools and skills for the future.
What is your reason to start with Business Model Innovation?