Business Model Innovation - Key Note Speech
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This is my keynote speech for anyone interested on "Business Model Innovation" at the Arabic Innovation Academy organized by the European Innovation Academy and Qatar Science & Technology Park in Qatar on Jan 7 2018
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Business Model Innovation - Key Note Speech
- 1. emadsaif BUSINESS MODEL Lecturer & Coordinator of Entrepreneurship Qatar University emadsaif@qu.edu.qa | @esaif
- 3. emadsaif BUSINESS MODEL Design how your startup creates, delivers and captures value ($) Disrupt existing business models and beat the competition
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- 16. emadsaif How do we innovate our business model ?
- 17. emadsaif Alex Osterwalder The best innovators are not necessarily the most creative people. The best innovators are those who are outstanding at pattern recognition!
- 19. emadsaif By Recognizing BUSINESS MODEL PATTERNS Product innovation1 Customer innovation2 Resource innovation3 Revenue innovation4
- 23. emadsaif Product Innovation Performance Family Hub 2.0 • Voice Recognition • Controlling other appliances • Samsung Pay available • Connected to a smartphone
- 28. emadsaif Product Innovation Product Systems
- 29. emadsaif Product Innovation Product Systems
- 30. emadsaif Product Innovation Product Systems Compatible accessories like phone cases
- 31. emadsaif Product Innovation Extra Service
- 32. emadsaif Product Innovation Extra Service
- 33. emadsaif Product Innovation Extra Service
- 34. emadsaif Product Innovation Extra Service
- 35. emadsaif Product Innovation Localization Authentic Qatari drink & snack
- 38. emadsaif Product Innovation Design & Usability
- 39. emadsaif Product Innovation Design & Usability
- 40. emadsaif Product Innovation Design & Usability
- 41. emadsaif Product Innovation Design & Usability
- 42. emadsaif Product Innovation Design & Usability
- 43. emadsaif Product Innovation Design & Usability
- 44. emadsaif Product Innovation Design & Usability
- 45. emadsaif Product Innovation Design & Usability Tesla Model S BMW Model i3
- 46. emadsaif Product Innovation Design & Usability
- 47. emadsaif Product Innovation Design & Usability
- 48. emadsaif Product Innovation Design & Usability
- 49. emadsaif Product Innovation Design & Usability
- 50. emadsaif Product Innovation Design & Usability
- 51. emadsaif Performance Product Innovation Sustainability Customization Product System Extra Service Localization Design & Usability
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- 54. emadsaif Customer Innovation Unserved Markets
- 55. emadsaif Customer Innovation Innovative Sales Channels
- 56. emadsaif Customer Innovation Innovative Sales Channels
- 57. emadsaif Customer Innovation Innovative Sales Channels
- 58. emadsaif Customer Innovation Innovative Sales Channels
- 59. emadsaif Customer Innovation Innovative Sales Channels
- 60. emadsaif Customer Innovation Customer Loyalty Programs
- 61. emadsaif Customer Innovation Customer Service
- 62. emadsaif Customer Innovation Customer Service
- 63. emadsaif Customer Innovation Community Building
- 64. emadsaif Customer Innovation Community Building
- 67. emadsaif Innovative Sales Channels Customer Innovation Loyalty Programs Unserved Markets Customer Service Community Co-creation
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- 70. emadsaif Resource Innovation Data Analysis
- 71. emadsaif Resource Innovation Data Analysis
- 75. emadsaif Resource Innovation Research & Development
- 76. emadsaif Resource Innovation Design Thinking
- 78. emadsaif Resource Innovation Partnerships Driver = partner
- 79. emadsaif Process Resource Innovation R & D Data Analysis Design Thinking Partnerships
- 81. emadsaif revenue Patterns One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook 1 2 3 4 5 6 7 8 9 1 0
- 82. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 84. emadsaif $ One Time Payment • Revenue generating by a one time transaction of a product or service • Most basic form of revenue and also the most common
- 85. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 86. emadsaif $ Bait & Hook $ • Basic product (hook) is offered cheaply or free • The complementary product or refill (bait) is sold expensively. • The basic product cannot be used without the complementary product. • Requires high product innovation, patents & strong brand
- 92. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 93. emadsaif $ Multi-sided Platforms $ • Connecting 2 or more customer segments together with a clear value proposition for each segment • Revenue is generated typically as a % fee of one or more customers • Hard to build enough customer base (Chicken & the Egg)
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- 100. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 101. emadsaif $ Pay Per Use • Customers are charged for how much product or service they use. • Can be effectively metered and billed to customers • Valuable in collecting customer preferences and habits
- 103. emadsaif Pay per/min
- 105. emadsaif Pay per/day
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- 107. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 108. emadsaif Subscription $ • Customers signup for a periodic access to a product or service. • Great for creating reoccurring revenue • Need to be very competitive with great value to customers • Tough to accept when different than industry business model standard
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- 114. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 115. emadsaif Freemium $ • Combines free and premium products • Free product offers basic features while premium offers more features • The focus is on converting free users to paying users and there is danger of no paying customers
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- 120. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 121. emadsaif Micropayments $ $ • Similar to Freemium model but purchases are made within the free app. • Relies on hooking user to make purchases to save time and gain more options
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- 126. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 127. emadsaif Free Data Reseller $ • Offer product for free (sometimes paid) and make revenue by selling data to 3rd party. • Data can be raw, processed or insights • At risk of customer privacy issues & cyber attacks
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- 131. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 132. emadsaif Free Advertising $ • Offer product for free (sometimes paid) and makes advertisement revenue from advertisers • Needs a huge customer base for advertisers to be interested and pay
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- 137. emadsaif One Time Payment Multi-sided Platforms Micropayments Un-bundling Advertising Data Reseller Pay Per Use Subscription Freemium Bait & Hook
- 138. emadsaif $ Un-bundling • Break down the product/service into smaller elements to make it more economical for customer. • Suitable for niche markets • Requires deep understanding of customer needs
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- 140. emadsaif EliminateCreate ReduceRaise Fitness / Spa Table Seated Restaurants Room Space Price Modern Design Bed & Pillows Free WIFI Free Video on Demand Check-in Process
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- 142. emadsaif Bait & Hook Revenue Innovation Multi-Sided One Time Payment Pay Per Use Subscription Micropayments Data Reseller Freemium Advertising Un-budling
- 143. emadsaif There are even more Patterns
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- 145. emadsaif Rethink & your business model Innovate
- 146. emadsaif THANK YOU Lecturer & Coordinator of Entrepreneurship Center for Entrepreneurship, Qatar University emadsaif@qu.edu.qa | @esaif esaif emadsaif