Changing your business model is may be the better way to improve your business at all, without any R&D or new products. Follow the 4 steps approach to maximize your chances to define a brand new future for your activity.
What is your actual business model?
Before starting to change it you have to understand your actual business model. This is a very important step that shouldn’t be minimize. spent time of this step to be sure you will handle all the inputs and necessary information. Try to share the strategic vision that your business model serves. Your business model is not « Alone in The Dark »: list your competitors and try to shape their own business model.
The Business model canva has that advantage that you can build a lot of versions in a very short time. So use it and do it. Use creativy tools, insights from established companies and other tools to shape new versions of your business model. Try to see your market from a different point of view, that is how disruptive models happen.
Test your assumptions
In all and every business model, you have assumptions. Test it to your customers, to your distribution channels, to your employees, partners, challenge your factories… Do go live with untested assumptions.
Implement your solution
Gather a team, prepare a project, draw the route and drive the car. Go as fast as possible (don’t drive fast in real life 😉 )to implement your model. Speed is king those days.
the fifth step is secret…. Celebrate.
Do you see more things to add? Do you want to share your lessons learned on changing business model? Please leave a comment.