This document provides steps for entrepreneurs to reinvent their business model. It advises focusing on customer value by understanding what matters most to customers in terms of money, access, skills and time. Companies should analyze their customer value proposition and assess their resources, processes and return on investment. It also recommends evaluating existing business models and considering disruptive innovation to determine whether to modify or significantly change the current model. Following the steps does not guarantee success but aims to help companies reinvent their approach to better meet customer needs.

1. Calling all entrepreneurs“Reinventing your Business Model” by Mark W. Johnson, clayton M. Christensen, and Henning Kagermann2.17.10

2. Q: What makes a business successful?Focus on the customerMap out a planUse it or lose it

3. Step 1: WIIFMCustomer value proposition (CVP)MoneyAccessSkillTime

4. Q: What’s your company’s CVP?Example (aka MSFT plug): help people work and play with technology

5. Step 2: Crunch those numbersROIResourcesProcesses

6. Step 3: To leap or not to leap….Take a close look at your existing business modelThink Christensen

7. DisclaimerFollowing these steps does not guarantee a winning recipe

8. Image CreditsImage of guy with magnifying glass retrieved from Flickr, Creative Commons: uploaded on March 21, 2008 by andercismouesr. http://www.flickr.com/photos/andercismo/2349098787/Image of bagged lettuce lady retrieved from Flickr, Creative Commons: uploaded on February 20, 2008 by jek in the box user. http://www.flickr.com/photos/jek-a-go-go/2279611075/Image of Amazon fresh truck retrieved from Flickr, Creative Commons: uploaded on April 24, 2009 by jwalsh user. http://www.flickr.com/photos/jwalsh_/3472290468/Image of McCafe drink retrieved from Flickr, Creative Commons: uploaded on September 7, 2009 by Old Shoe Woman user. http://www.flickr.com/photos/judybaxter/3898848184/Image of Danger sign retrieved from Flickr, Creative Commons: uploaded on September 7, 2006 by oskay user. http://www.flickr.com/photos/oskay/237442629/