Delivering Business Model Innovation

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Advice for in-the-trenches mid-level corporate entrepreneurs who are not just innovating new products or processes, but who are actually changing their firm's business model.

Delivering Business Model Innovation

  1. DELIVERING BUSINESS MODEL INNOVATION YOU’RE NOT ALONE | IT’S DOABLE | BUT IT’S HARD
  2. PART ONE INTRODUCTION
  3. What is a Business Model?
  4. What is a Business Model? "The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash"
  5. What is a Business Model? The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash • Who are your target customers? • What are their pain points? • How are they trying to ease pain now? • How, where, & when do they buy?
  6. What is a Business Model? The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash • Who are your competitors? • How is your solution different vis-à-vis customer pain points? • How do you sustainably defend your position?
  7. What is a Business Model? The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash What are your uniquely great at, and how does it fit together? • Supply • Manufacture • Distribution • Delivery • Development • Brand
  8. What is a Business Model? The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash • Revenue & Cost Models • Collection & Payment • Financing Strategy • Exits & Returns
  9. Why would you change your business model?!?
  10. Customers change what they need Why would you change your business model?!?
  11. Competitors change what they do Why would you change your business model?!?
  12. Core competencies eventually commoditize Why would you change your business model?!?
  13. and every now and then, everything about the world changes dramatically Why would you change your business model?!?
  14. old models just lose steam Why would you change your business model?!?
  15. So , you're basically forced Why would you change your business model?!?
  16. But most companies fail to pivot
  17. So why do some companies rise above the rest?
  18. It's not about originality or being first So why do some companies rise above the rest?
  19. It's not about size or age So why do some companies rise above the rest?
  20. It's about execution So why do some companies rise above the rest?
  21. HBR advises firms… • Have engaged, visible leaders & empowered teams • Ruthlessly focus on client value • Provide space & commitment to rethink everything • Align goals, culture, & incentives top to bottom • Communicate It's about execution So why do some companies rise above the rest?
  22. but what can an individual do in the trenches So why do some companies rise above the rest?
  23. PART TWO 8 THINGS YOU CAN PERSONALLY DO TO HELP DELIVER A SUCCESSFUL PIVOT
  24. 1. Understand the new model
  25. 1. Understand the new model 1.1 What served you well for the last 15 years may be the worst thing for the next 15
  26. 1. Understand the new model 1.2 Go out and talk to people again
  27. 1. Understand the new model 1.2 Go out and talk to people again Customers Competitors Colleagues Strangers
  28. 2. Get on board or get out
  29. 2. Get on board or get out There is no shame in saying this is not for me. But there is shame in not saying it.
  30. 3. Re-evaluate / Re-align
  31. Re-alignment of values, vision, objectives, metrics happens at all levels, not just executive 3. Re-evaluate / Re-align
  32. What are you prepared to commit to? • Stop • Start • Continue Re-alignment of values, vision, objectives, metrics happens at all levels, not just executive 3. Re-evaluate / Re-align
  33. 4. Retool
  34. 4.1 Take the development & management of strategically aligned training plans seriously 4. Retool
  35. 4.2 Dude, Coursera already (actively learn) 4. Retool
  36. 5. Build positive support networks for you & others
  37. Avoiding the water cooler is bogus advice 5. Build positive support networks for you & others
  38. People need to: • Blow off steam • Get recon – even if incomplete data Avoiding the water cooler is bogus advice 5. Build positive support networks for you & others
  39. Just find the right balance 5. Build positive support networks for you & others
  40. 6. Create a fast-failure-friendly environment
  41. 7. Shift Leadership, followership, & managership styles
  42. 8. Communicate & Listen
  43. Once more for good measure 1. Understand the new model 2. Get onboard or get out 3. Re-evaluate and Realign 4. Retool 5. Build positive support networks for you and others 6. Create a fast failure-friendly environment 7. Shift Leadership, followership & managership styles 8. Communicate and Listen
  44. SHARE THIS DECK & FOLLOW ME (please-oh-please-oh-please-oh-please) stay up to date with my future slideshare posts http://www.slideshare.net/selenasol/presentations https://twitter.com/eric_tachibana http://www.linkedin.com/pub/eric-tachibana/0/33/b53
  45. CLICK HERE FOR MORE!!!!
  46. Image References • http://hdwallpapers4free.com/abstract-vector/machine-wheels-desktop-wallpaper-6504/ • http://piixo.com/cliff-jumping/ • http://mystery-of-my-spirit.blogspot.sg/2012/12/the-graveyard.html • http://noaseo.files.wordpress.com/2011/07/chimp-thinking.jpg • http://worksmartlivesmart.com/read-a-new-book-month-december/ • http://www.lovebutblog.com/overruling-the-dick-tatorship-in-our-house-so-long-choices/ • http://www.mbopartners.com/independents-guide/grow/reevaluating-your-independent-consultancy- goals • http://www.pickthebrain.com/blog/5-steps-for-retooling-in-the-new-job-market/ • http://www.edupics.com/coloring-page-to-give-a-pat-on-the-back-i13471.html • http://www.huffingtonpost.ca/2013/01/20/canada-light-bulb-ban_n_2516459.html • http://www.toolstop.co.uk/victorinox-1370300np-climber-swiss-army-knife-red-1370300- p17431 • http://vintagetexas.com/blog/?p=1022 Doc References • http://blogs.hbr.org/2013/09/why-large-companies-struggle-with-business-model-innovation/ • http://mnasq.org/wp-content/uploads/presentations/BestPracticesinChangeManagement.pdf Please note that all content & opinions expressed in this deck are my own and don’t necessarily represent the position of my current, or any previous, employers

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