Innovate Your Business Model 2021: A step by step guide

Explore the relevance of business model innovations and the external factors shaping every company. Learn the advantages, see failed examples, and identify challenges you may face.

Explore external factors shaping business model innovation, including rising competition from new entrants and innovative models, globalization, evolving customer expectations, and technologies to adopt and implement.

Business model innovations offer advantages over product, service, and process innovations by delivering targeted customer value, boosting loyalty, and strengthening market position through digitization and low marginal costs.

Explore how misreading disruption and failing to innovate the business model doomed Kodak, Blockbuster, Xerox, Yahoo, BlackBerry, and others, underscoring the need for continual innovation and adaptation.

Embrace ambidexterity by balancing core operations with innovative, outside-the-box thinking; use dedicated teams, disciplined tools, and a product and service mindset to develop new business models.

Identify the external factors influencing your company and embrace sustainable business model innovations to meet those challenges. Then analyze your existing business model as you move into section 3.

Explore the process of generating new business models by analyzing your existing model with the Business Model Canvas, creatively developing ideas, and pitching for feedback to improve.

Apply a step-by-step guide to business model innovation using Coca-Cola as a practical example, outlining theory first and then applying it to the company, without detailed analysis.

Analyze your existing business with the business model canvas and value proposition canvas, fill the templates, and choose to work alone or with a team to innovate your model.

Explore the business model canvas to map customers, value, channels, offerings, revenues, activities, resources, costs, and partners, illustrated with a Coca-Cola example.

Identify and prioritize customer segments, then define a compelling value proposition using the value proposition canvas, mapping customer jobs, pains, gains, and linked products or services.

Learn to map distribution channels, customer relationships, and revenue streams, analyzing channel reach, integration, cost efficiency, delivery, and after sales service using Coca-Cola as a guiding example.

Identify indispensable resources, key activities, and cost structure to deliver your value proposition through distribution channels, realize revenue streams, and build customer relationships. Coca-Cola shows resources, partners, and brand.

Complete the business model canvas by filling all fields and achieving team consensus on one final version. Use the Coca-Cola example to identify the main factors for innovating the model.

Explore how to innovate your business model through 55 types identified by St. Gallen University, showing how recombinations and the subscription model can rewire your company for products and services.

Explore 55 business model types from St. Gallen University, apply them to your existing business model canvas, and use short descriptions to craft incremental or radical innovations.

Explore add-on pricing, affiliation strategies, Aikido-inspired value propositions, and auction models through real-world examples like Ryanair, Amazon, Nintendo, and eBay, highlighting how each shapes revenue.

Explore barter, the cash machine, cross-selling, and crowdfunding as core patterns to innovate your business model, illustrated by Procter and Gamble, Dell, Starbucks, and Pebble.

Harness crowdsourcing to gather innovative ideas online, reward contributors, and boost external collaboration; grow customer loyalty, digitize offerings, and enable direct selling to reduce costs.

Discover how e-commerce enables online sales with home delivery or in-store pickup. Learn how experience selling, flatrate models, and fractional ownership reshape pricing, revenue, and customer value.

Compare franchising, freemium, push to pull, and guaranteed availability through real-world examples like Marriott, LinkedIn, Dell, and SAP. See how these patterns influence value delivery and cost structures.

Discover the hidden revenue model funded by third parties, and unpack ingredient branding, integrator, and layer player strategies with examples like Apple, Intel, Zara, and Amazon Web Services.

Leverage customer data to monetize through licensing and strategic lock-in, while pursuing a long tail revenue model across platforms like Mozilla, Harley-Davidson, Facebook, and YouTube.

Discover how firms monetize slack resources and pursue mass customization via modular systems and no-frills value, then see open business models in action with Porsche, IKEA, Aldi, and Valve.

Explore open source, orchestrator, pay per use, and pay what you want models, focusing on core competencies and outsourced value chains with Wikipedia and Car2Go examples.

Learn how peer-to-peer platforms mediate meaningful exchanges between homogeneous groups, like Airbnb, and compare performance-based contracting, razor and blade, and rent instead of buy models to optimize value and revenue.

Discover revenue sharing with partners to amplify value creation, learn reverse engineering to offer lower-cost products, and explore reverse innovation through emerging-to-industrial adaptations, illustrated by Red Bull and TOMS Shoes.

Explore self service, shop in shop, solution provider, and subscription models that cut costs, boost efficiency, and deliver holistic services across industries.

Examine the supermarket model with a wide, low-price assortment and holistic offerings, target the poor with affordable products, and trash-to-cash through resale and recycling, plus two-sided market dynamics.

Explore ultimate luxury, user designed, and white label models that target the upper side of a society's pyramid with exclusive privileges and high margins.

Review all 55 business models, print and cut them into individual ideas, then collaborate with your team to select and creatively innovate a new business model for your idea.

Adapt your idea to the business model canvas, applying changes and exchanging post-its to optimize your new business model across scale scenarios and potential failures.

Explore seven business model types applied to Coca-Cola, generating ideas like ad space, direct selling, and white label models. Collaborate in groups to prepare a pitch for feedback.

Master essential business model types and generate innovations visible on the business model canvas for your company. Prepare a pitch to gather feedback and optimize your idea step by step.

Master the NABC pitch by outlining need, approach, benefit, and competition, from customer and internal perspectives; prepare concise notes for each letter and present a one-minute overview.

Learn to give and collect actionable feedback using direct, objective descriptions, then present your idea with an NABC pitch, gather broad input, and iteratively refine your business model canvas.

Leadership must embody change, involve employees through workshops, use NABC pitch for feedback, and deploy champions to carry the process while understanding decision pathologies like anchor effect and sunk costs.

Teams list lethal threats to the business, assign a writer, and imagine the worst case. The obituary highlights no innovation, inefficiency, and unclear audiences, prompting needed change.

Wrap up by applying business model innovations with the canvas, generating new ideas, and adapting your canvas to your company; prepare a cost-focused business plan to assess implementation and impact.