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.
I have read an interesting article on Medium about Business models and business plans. worth the reading but I don’t really agree with everything said.
What actually attracted my eyes is this picture:
This is the first time I see this very interesting and valuable way to describe the whole process linked with the Business canvas. It is really a golden picture because it says several very important things about the business model canvas (or here the Lean canvas):
Don’t rely on 1 Business model, build several and do scenarii
Validate Product(or service) market fit
Prepare to scale
This will maximise the chances your products will firstly find its market and then become big!
I have made several canvas so far. Some of the ones I have taking part to design are actually reshaping their business. And I have a couple of lessons to share with you and try to give you some simple hints to also end on a powerful game-changing Business Model.
Analyse your current Business Model
That is your starting point, don’t neglect it.
Work in group
We are much cleverer working in groups. But choose your group wisely.
Learn from others
Competitors / other companies outside your playground, just be curious…
Define different scenarios
There is no perfect business model, there are options, scenarios that you have to have in mind. For one of my projects, I had more than 10 different scenarios.
Visit your future
By building business model you are defining your future so do it, visit your future, share your vision.
Show me the money
You are here to develop your business (or you are a NGO…) so focus on money and how it goes into your pocket
Visual is king
Make your business model canva visual. show the patterns, show the flow, show the relationships.
Test, Test, Test
Go to your partners, your clients, your stakeholders and test, test, test your assumptions and your models.
Once you ended on a defined model, implement it as fast as possible.
If you manage to do so, you maximise your chance to be good 😉
Do you see more steps to follow or want to give us some feedback. Please leave a comment.
(cet article fait partie de la série Innovation tools)
A very nice proposition from Peter Thomson to adapt the value Proposition canvas. Some more infos and after a first reading worth the test. I will try to use it in parrallel with the Alex Osterwalder’s one to see which one is most suited.