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How Square is Disrupting Banks

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Understand how Jack Dorsey - CEO Square - is changing business models in the banking industry. Will he disrupt the banks?

Understand how Jack Dorsey - CEO Square - is changing business models in the banking industry. Will he disrupt the banks?

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  • 1. HOW SQUARE IS DISRUPTING BANKS   JACK DORSEY CEO SQUARE  
  • 2. UNDERSTANDING THE BUSINESS MODEL OF SQUARE Business Model Case Study May, 2014
  • 3. INTRODUCTION
  • 4. INTRODUCTION WELCOME TO THIS BUSINESS MODEL CASE STUDY
  • 5. WHAT ABOUT THE BANKING INDUSTRY?
  • 6. Bill Gates BANKING IS NECESSARY. BANKS ARE NOT.
  • 7. Quote: “The biggest risk to the finance sector today is not from other banks , nor related to the inability to apply Basel III risk controls or standards. The biggest risk to the finance sector today is the growing gap between the institution and the customer.” Brett King, author of Bank 2.0 and Bank 3.0
  • 8. LET’S LOOK AT A DISRUPTIVE BUSINESS MODEL
  • 9. Business Model Case Study: SQUARE
  • 10. BUSINESSMODELCASESTUDY
  • 11. BUSINESSMODELCASESTUDY “I WANT TO SEE THE BASIC ISSUES AND ANNOYANCES THAT PEOPLE DEAL WITH IN THEIR LIVES.” Jack Dorsey Tries To Break Out Of The Bubble By Riding The Bus “Every Single Day”, posted Sep 12, 2012 in TechCrunch.  
  • 12. WHAT IS THEIR VISION? BUSINESSMODELCASESTUDY
  • 13. BUSINESSMODELCASESTUDY Jack Dorsey Founder and CEO of Square Co-creator and co-founder of Twitter “Square is rethinking payments and money, which have been around for thousands of years. We want to take the mechanical burden out of the process.”
  • 14. WHAT IS THE MOST IMPORTANT TREND THEY CONNECT TO? BUSINESSMODELCASESTUDY
  • 15. BUSINESSMODELCASESTUDY
  • 16. WHAT IS THE PROMISE TO THEIR CUSTOMERS? BUSINESSMODELCASESTUDY
  • 17. For sellers: SELLING MADE SIMPLE. AFFORDABLE TOOLS TO START, RUN, AND GROW YOUR BUSINESS. For buyers: A SIMPLE AND MAGICAL WAY TO PAY. PAYMENT IS AUTOMATIC. BUSINESSMODELCASESTUDY
  • 18. WHAT IS THE JOB THEY GET DONE FOR THEIR CUSTOMERS? BUSINESSMODELCASESTUDY
  • 19. CONNECT LOCAL SELLERS WITH BUYERS EVERYWHERE   BUSINESSMODELCASESTUDY
  • 20. HOW DO THEY CONNECT TO THEIR CUSTOMERS? BUSINESSMODELCASESTUDY
  • 21. BUSINESSMODELCASESTUDY SIGNUP GET FREE READER GROW  
  • 22. BUSINESSMODELCASESTUDY OR BUY THE $10 SQUA(RED) READER AND FIGHT AIDS  
  • 23. HOW DO THEY CAPTURE VALUE? BUSINESSMODELCASESTUDY
  • 24. BUSINESSMODELCASESTUDY
  • 25. WHAT PRODUCTS AND SERVICES DO THEY OFFER? BUSINESSMODELCASESTUDY
  • 26. BUSINESSMODELCASESTUDY SQUARE REGISTER FOR SELLING IN STORE AND ON THE GO  
  • 27. BUSINESSMODELCASESTUDY SQUARE MARKET FOR SELLING ONLINE  
  • 28. BUSINESSMODELCASESTUDY SQUARE WALLET FOR CONSUMERS  
  • 29. BUSINESSMODELCASESTUDY SQUARE CASH FOR CONSUMERS  
  • 30. WHAT IS THEIR MINDSET? BUSINESSMODELCASESTUDY
  • 31. Quote: “Business Model Innovation does not come from creatives only. It comes from understanding other business models and learning from them.” Patrick van der Pijl, Producer Business Model Generation, CEO Business Models Inc.
  • 32. BUSINESSMODELCASESTUDY “Everything we do is about getting people to be more open, more creative, more courageous.”
  • 33. WHAT ARE THEIR SKILLS? BUSINESSMODELCASESTUDY
  • 34. BUSINESSMODELCASESTUDY DESIGN COLLABORATION   OBSERVATION
  • 35. WHAT TOOLS DO THEY USE? BUSINESSMODELCASESTUDY
  • 36. REGULAR OFF-SITES WEEKLY TOWN HALLS BUSINESSMODELCASESTUDY Visual by Gregory Koberger Startupnotes.org
  • 37. BUSINESSMODELCASESTUDY Key Partners Key Activities Key Resources Value Proposition Channels Relationships Customers Revenue StreamsCost Structure SQUARE BUSINESS MODEL   Square Wallet: Paying easy and automagically Businesses of all sizes (US, Canada, Japan) Get your money fast Simple pricing. Only pay when you sell No fees for presence in Square Market Free No restrictions on number of devices On the go: run your business on smart device In store: turn iPad into complete POS Online: free store in Square Market Square Market Word of Mouth Apple Store Best Buy Rethinking buying and selling Build software and hardware Creative and collaboratieve entrepreneurs Hardware and software RED for offering the SQUA(RED) reader to fight aids Jobvite for recruiting the best people Sumitomo Mitsui Card Corporation Off-sites ICT and hardware development and systems People Consumers Square Cash: Send and receive money
  • 38. BUSINESSMODELCASESTUDY WHAT WILL BE JACK DORSEY’S NEXT STRATEGIC CHOICE?
  • 39. ASK YOURSELF THESE QUESTIONS!
  • 40. BUSINESSMODELCASESTUDY 1. WHAT DID YOU LEARN?
  • 41. BUSINESSMODELCASESTUDY 2. WHAT QUESTIONS DOES THIS RAISE?
  • 42. BUSINESSMODELCASESTUDY 3. WHAT IS YOUR NEXT STRATEGIC CHOICE?
  • 43. BUSINESSMODELCASESTUDY 4. HOW IS THAT REFLECTED IN YOUR BUSINESS MODEL?
  • 44. CONTACTINFORMATION Patrick van der Pijl patrick@businessmodelsinc.com @patrickpijl Roland Wijnen roland@businessmodelsinc.com @rolandwijnen Contact us for business model case studies customized to your strategic issues
  • 45. COLOFON Copyright © 2014 Business Models Inc. All rights reserved. The information and insights presented in this business model case study are based on public sources and our experience in over 250 business model innovation projects. This business model case study reflects our current perspective on the Square model. The purpose is to inspire thinking about value creation and new business models. It is not meant to describe an absolute truth. Copyright of photographs and written material lies with the respective authors. Thank  you  for   watching!  

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