Business Models become old and tired?

Business Models fundamentals.

When Business Models, like old machinery, cease to work well, don’t just forget them; do something about them. Business Models are not about magic or luck. Even old models can be made more useful.

It takes an exceptional business model to work forever. If it’s broken and not working well every day and beyond repair, dispose of it. Remove the clutter, mind traffic and frustrations.

Whatever the size or shape of your business, we believe some fundamentals should be in your Business Model.

Business Models are becoming more virtual.

The virtual business phenomenon is transforming the way millions of Business Models operate. Some business owners are outsourcing nearly everything by utilising cloud technology.

Do your business models take into account outsourcing possibilities? They include people and partnerships who may be anywhere in the world. Great business models are also needed to start up new ventures cost-effectively and quickly.

With Generation Ys and Millennials entering the business world, hierarchies are starting to disappear. They expect to work in communities of mutual interest and passion, not structured authorities.

They want and expect flexibility in their working arrangements and a friendly working environment. Also, more and more businesses are becoming home-based.

Consequently, people management strategies will have to change. They must look more like Facebook and less like the pyramid structures you might have used.

Your value (supply) chain should be part of your Business Models.

A new business model’s plot may involve designing a new product to address an unmet need, as it did with the traveller’s check. It may also involve process innovation, a better way of making, selling, or distributing an already proven product or service.

Mobility combined with cloud computing enables businesses to adapt to rapidly changing markets. All companies, non-profits, and communities must move quickly to capitalise on cloud computing, the most significant innovation. It is currently causing the most significant disruptions to old Business Models. One important consideration is to keep your business model flexible. 

It means reworking the universal themes underlying your current operations. All new business models are variations on the generic value chain that supports all businesses.

Quotable quotes.

“Your business plan won’t survive in the cold, hard light of day if your business model is not
sound and fit for purpose”. Peter Sergeant

“Startups don’t fail because they lack a product; they fail because they lack customers and a
profitable business model”. Steve Blank