What is Your Business Model?

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We talk so much about product and service innovation yet the success of traditional innovation is dwarfed by business model innovation. This slide deck is a summary of the class delivered by Brandito on 2 July 2013 & was tailored to entrepreneurs, start-ups and stagnating businesses. The class looked at the modern business landscape and the importance of a value proposition framework as a lead-in to business model generation. Visit www.brandito.com.au for more upcoming classes.

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What is Your Business Model?

  1. 1. Start-Up Series: What is Your Business Model #brandito 1
  2. 2. about me Moby Siddique Digital Marketing & Business Strategist moby@brandito.com.au 2
  3. 3. about brandito & netsquared Consultancy, Classes & Short (1-2 day) Courses in: Digital Marketing, Business Strategy NetSquared = social good meets technology & digital Brandito.com.au /BranditoInc @BranditoInc Meetup.com/NetSquared-Sydney/ @Net2Sydney‎ 3
  4. 4. Agenda 1. The Modern Business Landscape. i. Big Data & the problem of choice. ii. The Humanisation of Business. 2. “Innovate or Die” 3. Business Model Innovation. 4. Identify Your Value Proposition. 5. Creating your Business Model. 6. Class work 7. Q&A 4
  5. 5. The Modern business Landscape 1 5
  6. 6. Our ability to create information has far exceeded our ability to manage it. Big Data, Big Problems “Every two days now we create as much information as we did from the dawn of civilisation up until  2003” - Eric Schmidt, Google CEO 6
  7. 7. The Problem of Choice With so many choices options to choose from people find it very difficult to choose at all. Paralysis is a consequence of having too many choices. Jam-theory: less perceived sense of choice & increased sense of simplicity = increased adoption rate. 7
  8. 8. Traditional marketing has lost its efficacy because of the consumers’ bullshit radar is high we don’t listen as much as we think we do Listen & respond, build context of a relationship 8
  9. 9. the humanisation of business Humanisation = ‘out-caring’ competitors - Gary Vaynerchuk 9
  10. 10. Kodak Cameras: 6 minutes p/avg. mention 10
  11. 11. Innovate or Die: the innovation imperative 11
  12. 12. Over 40% of the companies that were at the top of the Fortune 500 in 2000 were no longer there in 2010 12
  13. 13. pwc findings on australian start-ups Start-up sector expected to contribute $109 billion or 4% of GDP to the Australian economy by 2033 - PWC “Australia already has one of the most favourable environments for entrepreneurship. There is no better time to be an entrepreneur.” 13
  14. 14. What is business model innovation 2 14
  15. 15. definition: business model innovation Business Model Innovation is the invention of new ways of doing business, with the aim to provide new and/or increased value for the customers, the company itself and its stakeholders.” 15
  16. 16. business model best practice: apple 16
  17. 17. business model best practice: nespresso 17
  18. 18. what are the similarities? 18
  19. 19. (4) key characteristics of bmi 1 Product alone was not enough to succeed Product was only enabled through the business model 19
  20. 20. 1 20
  21. 21. (4) key characteristics of bmi 2 They didn’t nor could copy from their competitors They invented new business models with their own switching costs 21
  22. 22. (4) key characteristics of bmi 3 They couldn’t prove in advance that the models would work They had to take some level of risk and experiment. 22
  23. 23. (4) key characteristics of bmi 4 No competition, no existing value proposition to develop They created new needs customers didn’t even know existed. 23
  24. 24. customers can only give you “symptoms” not always the solution Steve Jobs on total market research done for the iPad: “None, It isn’t the consumers’ job to know what they want.” 24
  25. 25. What is your value proposition 3 25
  26. 26. what is your ‘why’ 4 The Golden Circle - Simon Sinek 26
  27. 27. Creating your business model 4 27
  28. 28. the business model canvas 4 Alexander Osterwalder, PhD 28
  29. 29. the canvas is visual 29
  30. 30. building blocks9 30
  31. 31. images by JAM customer segments key partners cost structure revenue streams channels customer relationships key activities key resources value proposition 31
  32. 32. 32
  33. 33. KEY PARTNERS Value Proposition CHANNELS CUSTOMER RELATIONSHIPS CUSTOMER SEGMENTS REVENUE STREAMSCOST STRUCTURE KEY ACTIVITIES KEY RESOURCES Nespresso’s 1987 Model offices Nespresso system joint venture with machine manufacturer machine manufacturer 33
  34. 34. 34
  35. 35. class activity: cirque du soleil Background on Cirque Cirque du Soleil is “a dramatic mix of circus arts and street entertainment.” Eliminated animals which reduced upkeep and maintenance. Target theatre and opera visitors; higher prices Created themes, multiple productions, artistic music and dance 35
  36. 36. think like an architect with your business model 36
  37. 37. #brandito q&a 37

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