A summary of things you should know about The Business Model Navigator according to Michaela Csik: Introduction In this episode Michaela Csik takes a deep dive into her book, TheRead More
The post A Preview of The Business Model Navigator with Michaela Csik appeared first on The Entrepreneurs Library.
]]>In this episode Michaela Csik takes a deep dive into her book, The Business Model Navigator, where she shares 55 business models that make up 90% of the most successful businesses in the world.
In her book, Csik and her co-authors provide the blueprints you need to revolutionize your business and implement powerful change. The goal of the book is become a toolkit for you to adapt and innovate your business model and to understand what other business models are, who invented them, who uses them now, and how to apply them to your business.
This book is perfect for entrepreneurs who are creating a brand new business or are simply looking to reinvent their current business model in order to deliver the results they need.
What’s unique about our book is that we don’t just provide a process but we also provide the recipes that entrepreneurs can use. We provide business model designs and patterns that can be used by anybody to design a breakthrough business models in their own industry or market.
There are different ways to jump into the book. We have three main part of our book and the first part covers the basics of business models and business model innovation. So if you want to start with the basics you can start at part one.
There are two concepts that are given as inspiration to entrepreneurs and can also be used in practice. The first one is the business model innovation map which can be found on the inside front cover of the book. This map gives in one picture all of the 55 different business model patterns. It’s a very simple and catchy illustration of the 55 models. The second concept is the pattern cards which are explained in the book. The pattern cards are a tool that we developed of how those 55 models can be used.
We have three main parts in the book. The first part is providing the reader with our introduction to our business model concept. We help the reader in providing a framework and we say that business model is based on four main dimensions, the what, who, why, and how. We also introduce the business model navigator which is the process that entrepreneurs and companies should follow when they want to design a breakthrough business model. In the core of The Business Model Navigator there are concepts and patterns which are explained more in depth.
The second part of the book is the heart and the core of the entire book which introduces the 55 business model patterns. For each pattern the reader will find an explanation of the origins of the pattern. We show you which company or entrepreneur was the first to ever use this pattern and we give a background of the pattern itself. We also explain and introduce examples of innovators or companies that have used these patterns in the past to generate the business model in their own industry. Also for each pattern there are different recommendation of when and how the patterns should be applied and what the entrepreneur has to take in to account.
In the third part of the book we give tips and tricks about how an entrepreneur or company can really implement our concepts of the 55 models together with The Business Model Navigator.
“90% of all new business models aren’t actually new; they are based on 55 existing patterns.” – From co-authors of The Business Model Navigator
I am working as an Innovation Manager at Holcim Technology, one of the world’s leading suppliers of cement and aggregates and there I am mainly responsible for new business models. Before that I worked at the University of St. Gallen in Switzerland and during that time I had the chance to work with Oliver Gassmann and Karolin Frankenberger on The Business Model Navigator book.
We see a lot of companies that are ahead of the competition. So business model has become in the last 10 to 15 years a major driver of success. It’s not enough to be just good in product innovation anymore but in a way the business model is becoming more and more important. The paradox is that most companies don’t have the right tools to be anywhere different when it comes to their business model so there is a huge gap between importance of business model innovation and the tools that are available to be innovated in this particular area.
Blue Ocean Strategy by W. Chan Kim
Buy The Business Model Navigator by Michaela Csik on Amazon today
Visit BMI-Lab.ch to learn more about the book and the tools that come with it
Follow Michaela Csik on Twitter
Download the full transcript here (coming soon)
Listen on iTunes, Stitcher , and SoundCloud
Related books:
Crazy Is a Compliment: The Power of Zigging When Everyone Else Zags by Linda Rottenberg
The Risk-Driven Business Model by Serguei Netessine
A More Beautiful Question: The Power of Inquiry to Spark Breakthrough Ideas by Warren Berger
What did you like and not like about this episode? Fill out this one minute survey here.
The post A Preview of The Business Model Navigator with Michaela Csik appeared first on The Entrepreneurs Library.
]]>A summary of things you should know about The Risk-Driven Business Model according to Serguei Netessine Introduction In this episode Serguei Netessine shares his book The Risk-Driven Business Model withRead More
The post A Preview of The Risk Driven Business Model with Serguei Netessine appeared first on The Entrepreneurs Library.
]]>In this episode Serguei Netessine shares his book The Risk-Driven Business Model with four questions that will define your company. This book is perfect for the entrepreneur or small business owner who is seeking advice and innovation on creating a new business model. The goal Netessine sets with The Risk-Driven Business Model is create a road-map for rather than simply describing business models that already exist.
Our book is on the topic of business model innovation which is a less traditional topic of innovation. Our book is different because we were aiming to create a roadmap for someone to create new business models rather than simply describing new business models that are already out there.
I hope that the book is interesting enough that once you start reading it, you won’t want to stop.
We believe that one of Steve Jobs’ greatest innovations was not necessarily an iPhone or iPad, it was actually a singular business model of the iTunes store. And the reason is that the business model of iTunes store actually makes all of the other innovations of Apple work.
In the introduction of the book we talk about the fact that business model innovation is often an overlooked way to innovate. A lot of value can be created through business model innovation and it’s really a very attractive way to innovate.
In the second chapter we explain our approach to business model innovation and it’s very different from inventing new products and technologies. Typically new product and technologies start with identifying some kind of a market meet. Business model innovation is different in that there is already a need and a product which address that need. What you need to do is find inefficiencies in the existing market. And we talk about how the business model can go about identifying those inefficiencies and fixing them.
The rest of the book outlines our four different approaches, what we call our four W’s which can be used to invent new business models. The first W is our WHAT innovation. WHAT innovation is essentially an innovation about changing the kind of decisions that the company makes within its business model. The next W we talk about the WHEN innovation. The WHEN innovations are all about changing the timing of your decisions and you can do this by moving you decisions around relative to when you obtain information to make those decisions. After that we talk about the WHO innovation which changes who makes decisions in a business model. In the next chapter we talk about the WHY innovation where in the business model you can change why people make the decision. So these are a key four chapters which talk about four different approaches to business model innovation.
After this we go into an action chapter that discusses how TerraPass went about innovating its business model. This chapter describes how ideas for TerraPass were generated, how they were selected and how the company was developed. It’s an illustrated chapter talking about the details of the innovation process.
We conclude with The Call for Action which we say that the time has come to really change the discipline of business model innovation to make it into a systematic process that is governed by certain rules. We have a lot of examples of established companies changing their business models. We try to demonstrative in the book that the discipline of business model innovation has a very wide applicability and very often business model innovation works well in situations when other types of innovations don’t work very well.
“We shouldn’t forget about the power of business model which very often offers a much more sustainable innovation than innovations from new products of technologies.” – Serguei Netessine
I was born in Russia where I did most of my studies and moved to the United States to earn my PHD in Business. My first job was at The Wharton School of the University of Pennsylvania where I worked for about ten years. Now I work with companies and startups on multiple continents.
While reading multiple books I noticed they focused on the wrong side of innovation so I decided to write a book unlike any others.
The Lean Startup by Eric Ries
Buy The Risk-Driven Business Model by Serguei Netessine on Amazon today
Visit DefineYourCompany.com to learn more about Serguei and his book
Follow Serguei Netessine on Twitter and Facebook
Download the full transcript here
Listen on iTunes, Stitcher , and SoundCloud
Related books: The Innovator’s Method: Bringing the Lean Start-up into Your Organization by Nathan Furr | Scrum: The Art of Doing Twice the Work in Half the Time by Jeff Sutherland | The Small Business Life Cycle by Charlie Gilkey
Relevant advice and tips: 5 Important Things That Every Entrepreneur Needs To Know About Starting a New Business
What did you like and not like about this episode? Fill out this one minute survey here.
The post A Preview of The Risk Driven Business Model with Serguei Netessine appeared first on The Entrepreneurs Library.
]]>