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YOUR OBJECTIVES

Often the discussion of innovation is centered around new products or service offerings, the “what” part of the challenge. In many instances though, the biggest breakthroughs can be uncovered by asking “how”: 
  • How can we engage customers differently?
  • How can we change our profit models to allow for new, more flexible pricing models?  
  • How can we allocate resources more efficiently to improve the value proposition for customers?

Business Model Innovation (BMI) is the introduction of a fundamentally new business model into an industry or enterprise. Great new business models aim to create new value and transformative growth by reaching untapped customers or serving existing (unsatisfied) customers in dramatically better ways. BMI is about changing the game, breaking the established “rules” to define and deliver value previously unimagined.

Whether combined with an enabling technology or not, a powerful new business model innovation can create new markets where none existed or transform existing markets in fundamental ways. Command of this these concepts and their practical application empowers you to go beyond the uncertain exploitation of a new product, technology, or service and from the outset understand its true potential, to unlock transformative growth directly from business model innovation.

Specific projects we may undertake to enable our clients to develop disruptive business models include:

  • Identify Areas of New Growth — a consulting effort designed to find and capture the “white space,” those areas of untapped potential and non-consumption that can be converted to lucrative growth sectors with the application of a new business model (e.g. revenue model, profit structure, channel strategy).
  • Generate New Ideas— a consulting effort that begins with the consumers’ views of their jobs-to-be-done and then looks beyond the product or service opportunities to uncover how changes to the business model may further enable these consumers and non-consumers to complete their job more effectively, thus driving new growth.
  • Take Ideas to Market — a consulting effort that applies our “test and learn” approach to new product development to the practice of business model innovation, essentially looking for low-cost ways to evaluate the target customers’ acceptance of, and satisfaction with, the proposed model.