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 6. In parallel or replace.

 

You’ll need to decide whether you want to completely replace your existing model, or run a new model in parallel, either permanently or for a pilot period. If you are running two business models along side each other remember to factor in any customers who may move from one to the other, so that you don’t over estimate your market size.

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.