In today’s fast-paced world, conditions and competitors are constantly changing. When the status quo is no longer an option, your business model must evolve to ensure you remain relevant and profitable.
Together we can design, test and scale a transformative business model that will enhance your competitiveness.
Our Business Model Innovation solution will help you:
- rethink each element of your current business model and value proposition;
- identify your most pressing internal and external challenges;
- explore options of alternative business models to seize new market opportunities (e.g.: New technology, product or service) or solve pressing problems (e.g.: Loss of market share, unexpected competition, disruptive technology);
- inexpensively test the potential of alternative business models with real clients;
- design and scale a validated business model that will generate maximum benefits and become a source of competitive advantage;
- compile evidence to attract potential strategic partners; and
- acquire business model innovation skills through our hands-on, learn-by-doing approach.
Here is our three-phased approach for innovating your business model:
We gain a global understanding of your business and explore options of alternative business models. During this phase, we will:
- identify your most pressing external and internal challenges;
- map out your current business model and identify the parts that are still working well and those that are not;
- define your customers’ current and emerging needs;
- get creative generating alternative business model prototypes and select one for testing.
We work together to test your alternative business model assumptions with real clients to reduce your business risk. During this phase, we will:
- refine your business model prototype and value proposition;
- design and prioritize tests that will generate measurable outcomes;
- validate market desirability (do clients want our products?), financial viability (can we make profits?), and technical feasibility (can we build it?); and
- measure results and make adjustments to design the new business model.
We work on an agile implementation plan that allows you to scale your business model throughout your organization. During this phase, we will:
- design a scalable business model;
- develop a plan to implement your scalable business model in increments;
- review progress of iterative and incremental execution; and
- set up a process so you can continuously manage the evolution of your business model.
Business models expire—reinvent yourself to enhance your competitiveness!
BDC’s Business Model Innovation helped us keep our minds open to new ideas, create industry-redefining value for our clients and potentially generate a lot more income.