The Business Model Innovation Factory

Several weeks ago, I bought a copy of The Business Model Innovation Factory, which according to NY Times bestselling author Dan Pink,  is a book about “how to take an innovation from a napkin sketch to market share,  and to create your own innovation factory.”

One of the first pieces of advice I give entrepreneurs is “iterate on your business model, being patient for growth, impatient for profits.”  Yet, I find that the term “business model” abstract, even nebulous.  Or as Kaplan writes,  “If you ask any 10 people in your organization to describe your current business model, will the answers be even close?” 

To get you started on consuming his ideas (and make it easy to participate in the giveaway!), here are some tweet-ready snippets:

“A business model is a story about how an organization creates, delivers and captures value.” -@skap5

“Business model innovators are inspiration accelerators.”-@skap5

“One of the most important tools for any business model innovator is storytelling.” – @skap5

“No one shares business model stories because they are taken for granted.” – @skap5

Law of disruption:  “Even Netflix is in danger of being netflixed.” – @skap5

“Using understandable language is essential to advancing new ideas and compelling action.” – @skap5

“Business model = How does your organization create value?  Deliver value? Capture value?”

Sustaining innovation:  “death by a 1,000 initiatives”. – @skap5

“A business model innovation factory is a platform, not a project.” – @skap5

“You want to business model innovation? Empower IT.” – @skap5

“You want business model innovation? See the world through the lens of the customer.” – @skap5

“Business model innovation is a team sport involving random collisions of unusual suspects.” – @skap5

“Business model innovation is a design process:  generative, experimental, iterative.” – @skap5

You want business model innovation?  Make systems-level thinking sexy.” – @skap5

“Innovators are less interested in climbing up learning curves than swinging like Tarzan from curve to curve.” @skap5

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I Dream of Disruption

In June, unemployment hit 9.5%, the highest rate in 25 years, and a “sobering indication that the longest recession since the 1930s has yet to release its hold”, wrote the NY Times.

Not that any of us needed this statistic to know that times are tough.

Many of us have seen our net worth dwindle, and are tightening our belts to an extent we haven't had to in years, if ever.

Yet I find myself curiously optimistic.

When the Wall Street Journal asked Harvard Business School professor Clayton Christensen how the recession would affect innovation, his responding that it would have an “unmitigated positive effect on innovation”  was seemingly counter-intuitive.

He continued, “When the tension is greatest and the resources are most limited, people are actually a lot more open to rethinking the fundamental way they do business.  That's when breakthrough innovations occur.”

Innovate

Source:  istockphoto

A recent CNN Money article tells of a woman whose husband was out-of-work.  As she and her husband fundamentally rethought how to do business, they've made ends meet — and then some.  This same article cites a study by the Kauffman Foundation indicating that 51% of the Fortune 500 companies began during a recession or bear market or both.

Maybe Christensen's ideas aren't so counter-intuitive.

We recently heard CK Woolley‘s story.  Without the need to rethink how she does business and lives her life, would there have been a Shabby Apple?

As an analyst on Wall Street, would I have amassed a set of portable skills if the resources I'd needed had been readily available?

Would our ‘dare to dream' community have had the marvelous month of guest blogs, if I hadn't been resource-constrained?

IStock_000009482449XSmall

Source:  istockphoto

Most women, particularly mothers, continually feel the tension of having too little time and too small of a budget.  Because of this tension, we are expert at rethinking how things get done.

And with the ‘recession to have yet released its hold', is the time not ripe for our expertise?

I'm dreaming of disruption.

In my own life and in yours.

And that's a good thing.

What are some other breakthrough innovations?  Under what circumstances did they occur?

Have the current economic difficulties opened doors to your dreams sooner than you had anticipated?


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