DELIVERING

YOU’RE NOT ALONE | IT’S DOABLE | BUT IT’S HARD

BUSINESS MODEL INNOVATION

PART ONEINTRODUCTION

What is a Business Model?

What is a Business Model?"The way that your business delights customers in a unique, sustainable, & defensible way using

it's core competencies to make wads of cash"

What is a Business Model?The way that your business delights customers

in a unique, sustainable, & defensible way using it's core competencies to make wads of cash

• Who are your target customers?

• What are their pain points?• How are they trying to ease

pain now?• How, where, & when do they

buy?

What is a Business Model?The way that your business delights customers

in a unique, sustainable, & defensible way using it's core competencies to make wads of cash

• Who are your competitors?• How is your solution different

vis-à-vis customer pain points?

• How do you sustainably defend your position?

What is a Business Model?The way that your business delights customers

in a unique, sustainable, & defensible way using it's core competencies to make wads of cash

What are your uniquely great at, and how does it fit together?• Supply• Manufacture• Distribution• Delivery• Development• Brand

What is a Business Model?The way that your business delights customers

in a unique, sustainable, & defensible way using it's core competencies to make wads of cash

• Revenue & Cost Models• Collection & Payment• Financing Strategy• Exits & Returns

Why would you change your business model?!?

Why would you change your business model?!?

Customers change what they need

Why would you change your business model?!?

Competitors change what they do

Why would you change your business model?!?

Core competencies eventually commoditize

Why would you change your business model?!?

and every now and then, everything about the world changes dramatically

Why would you change your business model?!?

old models just lose steam

Why would you change your business model?!?

So , you're basically forced

But most companies fail to pivot

So why do some companies rise above the rest?

So why do some companies rise above the rest?

It's not about originality or being first

So why do some companies rise above the rest?

It's not about size or age

So why do some companies rise above the rest?

It's about execution

So why do some companies rise above the rest?

It's about execution

HBR advises firms…• Have engaged, visible leaders &

empowered teams• Ruthlessly focus on client value• Provide space & commitment to

rethink everything• Align goals, culture, & incentives

top to bottom• Communicate

So why do some companies rise above the rest?

but what can an individual do in the trenches

PART TWO8 THINGS YOU CAN

PERSONALLY DO TO HELP DELIVER A SUCCESSFUL

PIVOT

1. Understand the new model

1. Understand the new model1.1 What served you well for the last 15 years

may be the worst thing for the next 15

1. Understand the new model

1.2 Go out and talk to people again

1. Understand the new model

1.2 Go out and talk to people again

CustomersCompetitorsColleaguesStrangers

2. Get on board or get out

2. Get on board or get outThere is no shame in saying this is not for me.

But there is shame in not saying it.

3. Re-evaluate / Re-align

3. Re-evaluate / Re-align

Re-alignment of values, vision, objectives, metrics happens at all levels, not just executive

3. Re-evaluate / Re-align

Re-alignment of values, vision, objectives, metrics happens at all levels, not just executive

What are you prepared to commit to?• Stop• Start• Continue

4. Retool

4. Retool

4.1 Take the development & management of strategically aligned training plans seriously

4. Retool

4.2 Dude, Coursera already (actively learn)

5. Build positive support networks for you & others

5. Build positive support networks for you & others

Avoiding the water cooler is bogus advice

5. Build positive support networks for you & others

Avoiding the water cooler is bogus advice

People need to:• Blow off steam• Get recon – even if

incomplete data

5. Build positive support networks for you & others

Just find the right balance

6. Create a fast-failure-friendly environment

7. Shift Leadership, followership, & managership styles

8. Communicate & Listen

Once more for good measure1. Understand the new model2. Get onboard or get out3. Re-evaluate and Realign4. Retool5. Build positive support networks for you

and others6. Create a fast failure-friendly environment7. Shift Leadership, followership &

managership styles8. Communicate and Listen

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Image References• http://hdwallpapers4free.com/abstract-vector/machine-wheels-desktop-wallpaper-6504/• http://piixo.com/cliff-jumping/• http://mystery-of-my-spirit.blogspot.sg/2012/12/the-graveyard.html• http://noaseo.files.wordpress.com/2011/07/chimp-thinking.jpg• http://worksmartlivesmart.com/read-a-new-book-month-december/• http://www.lovebutblog.com/overruling-the-dick-tatorship-in-our-house-so-long-choices/• http://www.mbopartners.com/independents-guide/grow/reevaluating-your-independent-

consultancy-goals• http://www.pickthebrain.com/blog/5-steps-for-retooling-in-the-new-job-market/• http://www.edupics.com/coloring-page-to-give-a-pat-on-the-back-i13471.html• http://www.huffingtonpost.ca/2013/01/20/canada-light-bulb-ban_n_2516459.html• http://www.toolstop.co.uk/victorinox-1370300np-climber-swiss-army-knife-red-1370300-p17431• http://vintagetexas.com/blog/?p=1022

Doc References• http://blogs.hbr.org/2013/09/why-large-companies-struggle-with-business-model-innovation/• http://mnasq.org/wp-content/uploads/presentations/BestPracticesinChangeManagement.pdf

Please note that all content & opinions expressed in this deck are my own and don’t necessarily represent the position of my current, or any previous, employers