Business model innovation is one of our favourite things to do, talk about, and learn about. Sure, it’s great to develop or change products or services, and making an existing model work even better can be really satisfying. But…. if you want to disrupt your market, make a big splash and get everyone talking, and buying…. innovating your business model is where it is at. 

Step 4. Remember to consider free.

If at this stage you haven’t already, have a think about whether there is a free to customer product which you can develop which may increase your market penetration or or allow you to access new markets. Free models are all the rage for good reason, and as customer expectations of high quality free solutions increase there is more demand than ever. This can be an effective way of building you business, although the returns tend to be over a longer term.

This blog is part of a series on business model innovation – check back for the next steps, and you can see all of our previous blogs on this site. And… if you are feeling inspired but want some extra support email us at tellmemore@rubystarassociates.co.uk/dev to talk about how we can help.