![\"gijs\"](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2015\/08\/gijs-245x300.png\")
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Of course you know business model innovation. It’s common practice among innovators. A lot of markets have been disrupted by new business models, often initiated by start-ups and new entrants:<\/p>\n
In my work, as\u00a0speaker on innovation and design thinking, I travel all over the world to inspire innovators how to start innovation more effectively.\u00a0The business model canvas\u00a0with it’s\u00a0nine business model building blocks, introduced by Osterwalder, Pigneur & al. in 2010 is well-known and used\u00a0in every country I visited, from Canada to India and from Brazil to Japan. Like you probably, everybody really appreciates the simple tool. It’s most often used to analyze existing business models or business models of new entrants. It’s a great tool also to catch your basic idea and to communicate it in a simple way to others.<\/p>\n
A lot of managers\u00a0at big corporations are well aware of the threats of new start-ups entering their market. They really want to overturn the conventions of their market\u00a0before others do. The awareness to be working on new business models is there, but big challenge for most of them is:<\/p>\n
“How\u00a0do I come up with a new Business Model that disrupts my own market?”<\/p>\n
I was very pleased that Dutch consultants of McKinsey recently published\u00a0a new approach to business-model innovation\u00a0that will help you how to come up with new business models. It’s practical 5 step method to turn your present beliefs upside down.<\/p>\n
Let’s take a closer look at their five steps:<\/p>\n
1. Outline the dominant business model in your industry.\u00a0<\/strong><\/p>\n As a start you answer the essential question: “What are the long-held core beliefs about how to create value?”.<\/p>\n 2. Dissect the most important long-held belief into its supporting notions.\u00a0<\/strong><\/p>\n How do notions about customer needs and interactions, technology, regulation, business economics, and ways of operating underpin the core belief?<\/p>\n 3. Turn an underlying belief on its head.\u00a0<\/strong><\/p>\n Formulate a radical new hypothesis, one that no one wants to believe\u2014at least no one currently in your industry. Ask yourself outside-the-box\u00a0‘What-if’ questions.\u00a0:<\/p>\n 4. Sanity-test your reframe.\u00a0<\/strong><\/p>\n Many reframed beliefs will just be nonsense. Applying a reframe that has already proved itself in another industry greatly enhances your prospects of hitting on something that makes business sense. Cross-industry innovation is hot. I can really recommend the inspiring book\u00a0‘Not Invented Here’\u00a0of\u00a0Marc Heleven\u00a0and\u00a0Ramon Vullings.<\/p>\n 5. Translate the reframed belief into your industry\u2019s new business model.\u00a0<\/strong><\/p>\n Typically, once companies arrive at a reframe, the new mechanism for creating value suggests itself\u2014a new way to interact with customers, organize your operating model, leverage your resources, or capture income.<\/p>\n These five steps make sense. In their approach I recognize of course the creative process of divergent – and convergent thinking. I suggest you give it a try.<\/p>\n The success in applying this new approach to generate new disruptive business models\u00a0is in my view dependent on one thing: the ability of you and your colleagues to postpone your judgment and really think outside-the-box formulating your ‘What-if’ questions. Be sure to practice this together upfront and create the right physical and mental environment for being creative together. These\u00a025 rules for perfect brainstorming\u00a0might help you with it.<\/p>\n “Yes, big companies can be disruptive too. Give it a try.”<\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":" Of course you know business model innovation. It’s common practice among innovators. A lot of markets have been disrupted by new business models, often initiated by start-ups and new entrants: Airbnb\u00a0disrupts the market for accommodation as you can rent online unique places to stay from local hosts in 190+ countries. In 2014,\u00a0Airbnb\u00a0had\u00a025 million guests’ bookings.… A New Approach to Business-Model Innovation<\/span><\/a><\/p>\n","protected":false},"author":39,"featured_media":1915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[81],"tags":[935,934,3,936,2,938,937,685],"class_list":["post-1914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy","tag-airbnb","tag-business-model-design","tag-business-model-innovation","tag-icloud","tag-innovation","tag-netflix","tag-ted","tag-uber"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/1914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=1914"}],"version-history":[{"count":4,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/1914\/revisions"}],"predecessor-version":[{"id":1929,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/1914\/revisions\/1929"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/1915"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=1914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=1914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=1914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}