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Businessmodelinnovation

The 6 ways to grow a company

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The 6 ways to grow a company

Interesting article about growth strategies - innovation - allocation of budget and resources

by Gino Chirio, in HBR.org,  June 14, 2018

https://hbr.org/2018/06/the-6-ways-to-grow-a-company
growthstrategiesHBR-foto.jpg

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Innovative solutions and the search for Fit

Innovative solutions and the corresponding value propositions are only relevant if they fit at three levels

In the first place, an innovative solution and its corresponding value proposition have to address the identified challenge or problem for your company and the customer.

All great ideas are of little significance if they are not appropriate solutions for the identified problem(s). Therefore it is very important to identify first all real challenges or problems, to cluster and prioritize them (assigning weight) for example on the basis of the impact that they (can) have for the business. A facilitator can help you with the process of identification, clustering and prioritizing. It is important to be able to start from the underlying real problem or challenge, which often manifests itself not immediately and clearly. Every innovative idea must first be checked against the problem to determine whether it can be a suitable solution to this fundamental problem.

Secondly, each solution (product and/or service) must be appreciated and validated by the customer. 

It must be examined in the market and among customers if the solution is really valuable to the customer and whether there is a positive reaction of the customer. What are the chances that the solution really get a grip on the market and target audience?

Finally, there should be a search for the way the innovative solution (product / service) fits into the business model. 

In other words, it should be considered whether the innovative solution actually can be  set up, can be organized and embedded  in to a profitable and scalable business model.

About the author:

Chris Delvaux has over 15 experience as a senior consultant. He is specialized in go-to-market optimization, business model innovation and service design. He facilitates and coaches teams in commercial transformation projects from the analysis to the result. He works strategically AND pragmatically. He has worked for clients such as Baxter, Nashuatec (Ricoh), DVV Insurance, Associated Weavers, Stihl Benelux

Revolutionise your business

Revolutionise your business. Get more value out of your business by using the Business Model Navigator to innovate your business. It builds on the central idea that successful business models can be constructed through creative imitation and recombination. (Oliver Gassmann, BMI-Lab)

 

 

Business model innovation

Commercial innovation by developing a new business model

Commercial innovation by developing a new business model, is one of the possibilities to create added customer value.

What is the best way to do it?

You can find some interesting tips about developing a new business model in the video from the University of St Gallen, Switzerland. (By Prof. Dr. Oliver Gassman). The video is also about typical myths in innovation.

 

Click here to read more about our services

If you want more information about commercial innovation by developing a new business model, CONTACT THRUST

 

For more information on business model innovation, go to www.bmi-lab.ch