…and beyond. We all know that creating value requires a long-term strategy. That being said, I want to share my personal perspective on what’s happening in the world around us and share my thoughts on how we can make a difference by innovating together.
To say this time is an exciting time to live is an understatement to say the least. Just open any newspaper and you will see that change – very visibly- is compounding on itself, creating even more change, faster. From pandemics to pressure on our natural eco-systems and from war to the war-on-talent. There are so many things impacting our daily business. And even though, at high level our wants and needs as consumers remain somewhat the same. The way we go about achieving those wants and needs are changing because of shape-shifting technologies such as Artificial Intelligence and Blockchain.
At Business Models Inc. we see that within our rapidly changing world exist innumerable opportunities for you to (re)design game-changing business models. Businesses that create value for you, our society, and the world around us.
We believe that you and the leaders in your organization should be open to change. This is what innovation is all about. To succeed, you must adopt a growth mindset that is about continuous exploration, making sense of the relevant contextual changes, and discovery of how to fulfill (new) customer needs.
Here are 3 ways to start creating more value for your customers today, that will last a lifetime: (1) invest in business model innovation, (2) design for impact and (3) lead by example.
We have seen a lot of companies die because they’ve become fixated on fighting for their current business model rather than shifting to a more relevant one.
And I get it, investing in innovation is a difficult decision because it requires resources that might be scarce today. But we are at the point of no return; we can no longer afford to stick to doing business as usual.
You need to make business model innovation, both short- and long-term, an integral part of your business planning. In all cases, this search for value is not meant to be accomplished with a big-bang approach, where vast sums of money are thrown at it. Rather, innovation should be performed in a structured and systematic way.
Building your future company while running the one you have today is basically an art. On your quest to successful change, you need to find the right mix of people, partners, and processes. But it all starts with a clear vision for the future, identified opportunities for value creation and a strategy for growth.
3 questions to ask yourself:
1. Do we have a good understanding of what’s happening in the world around us? What are your opportunities and threats?
2. Do we have a vision for the future? What is the impact you want to make with your company 10 years from now?
3. What building blocks do we already have in place to shift our business model and stay relevant to our (future) customers?
As said, business as usual is not going to get us anywhere. Luckily, I live by the belief that everything is designed and therefore can be re-designed. That’s why I love innovation. It is that magical place where strategy, business, and design meet.
We see technology as the big enabler of new breakthrough business models that can help us solve the challenges our world is facing today. As innovators, we have the opportunity – or moral obligation if you will - to redesign our businesses for a better future taking into account people, planet and profit. That’s why our team is on a mission to design, build and grow better businesses. Businesses that create value for customers, our society and the world around us.
3 questions to ask yourself:
Do you know how to use (new) technologies to drive value creation as well as the delivery of that value to your customers?
Are you currently exploring business model options that bring growth and impact for the years to come?
Are you focused on short-term gains or long-term value creation taking into account people, planet, and profit?
I have said it before, and I will say it again: innovation is a different ballgame. You need talented players and a clear strategy to win. It is about finding the right people for the right job at the right time in the process.
But looking ahead I don’t think that is enough. Because innovation is a movement, not an action. And movements are started by people. Your people!
So, it all starts with you and me. We need to lead the pact, we decide the pace of change. This means that we sometimes need to let go of our own habits and put the interest of the collective first. This might have been my most valuable lesson in past years.
If you and the leaders in your organization can commit to change and focus on what’s truly relevant for your customers, your employees and stakeholders, now and in the future, you can continuously shift your business model. You can take value creation beyond your imagination. Needless to say, me and I my team are here to partner-up on your journey.
Wishing you all the best.
Patrick.
