1. Mobilize Understand Design Implement Manage
Objective Prepare for a successful Business Research and analyze elements Generate and test viable business Implement the business Adapt and modify the
Model Design Project needed for the business model model options model prototype in the business model in response
design effort field to market reaction
Focus Setting the stage Immersion Inquiry Execution Evolution
Description Create awareness of the need for The team immerses itself in Transform info from previous stages Implement selected Set up management
new business model, describe relevant knowledge: Customers, into business model prototypes that business model design structures to continuously
motivation behind the project technology and environment. can be explored and tested. After monitor, evaluate, and adapt
and establish a common language Collect information, interview intensive business model inquiry, or transform your business
experts, study potential select the most satisfactory business model.
customers, identify needs and model design.
problems.
Activities  Frame project objectives  Scan environment  Brainstorm  Communicate and  Scan the environment
 Test preliminary business  Study potential customers  Prototype involve  Continuously assess
ideas  Interview experts  Test  Execute your business model
 Plan  Research what has already  Select  Rejuvenate or rethink
 Assemble team been tried (examples of your model
failure and their causes)  Align business models
throughout the
enterprise
 Manage synergies or
conflicts between
models
Critical  Appropriate people,  Deep understanding of  Co-create with people from  Best Practice  Long-term perspective
Success experience and knowledge potential target markets across the organization project  Proactiveness
factors  Looking beyond the  Ability to see beyond the status management  Governance of business
traditional boundaries quo  Ability and models
defining target markets  Taking time to explore multiple willingness to
business ideas rapidly adapt the
business model
 Align ‘old’ and
‘new’ business
models
Key  Overestimating value if initial  Over-researching: disconnect  Watering down or suppressing  Weak or fading  Becoming a victim of
Dangers idea(s) between research and bold ideas momentum your own success,
objectives  Falling in love with ideas too failing to adapt
 Biased research because of quickly
pre-commitment to a certain
business idea.