The Business Model Innovation Factory: How to Stay Relevant When The World is Changing
Blockbuster's executives saw Netflix coming. Yet they stuck with their bricks-and-mortar business model, losing billions in shareholder value. They were "netflixed."Business models just don't last as long as they used to. Historically, CEOs have managed a single business model over their entire careers. Today, all organizations must be capable of designing, prototyping, and experimenting with new business models.The Business Model Innovation Factoryprovides leaders with the survival skills to create a pipeline of new business models in the face of disruptive markets and competition.Business model innovation is a team sport. It requires all of us to build stronger collaboration muscle and to become more comfortable with and much better at connecting across silos, disciplines, and sectors.The Business Model Innovation Factoryprovides innovators with a set of fifteen actionable principles to guide business model innovation efforts, including:Realize that you are catalyzing something bigger than yourselfBuild purposeful and flexible networksMake systems-level thinking—and action—sexyBe creative and engaged in designing the core models that drive businesses, institutions, industries, and culturesPassion rules—exceed your own expectations and take risks with confidenceBe an inspiration accelerator and inspire many toward the end game: transformationInnovators need to experiment and embrace the art of discovery. Innovation requires that you get off the whiteboard and into the real world. There, you'll discover how to design for this user-centered world. Don't get netflixed. Make your organization a business model innovator and stay competitive in today's turbulent world.