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The Business Model Generation

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The Business Model Generation

Business Model Generation is a comprehensive guide to building innovative business models. From empathizing & connecting with customers to finding inspiration for products & learning from some of today’s most game-changing platforms, these blinks will help to kick-start the business thinking.

Overcome the challenges of business model design, generation, and reinvention by working through five critical stages:
1. Formulating your business model canvas. Consider how your organization will create, deliver, and capture value. Begin crafting a blueprint for how your strategy will be implemented that includes considerations for your customers, offers, infrastructures, and financial viability.
2. Understanding business model patterns. Look to other successful business models to find inspiration and deepen your understanding of the dynamics of your own approach.
3. Honing the design of your business model. Evaluate the tools and techniques of design that can help you envi¬sion possibilities, extend the boundaries of your thought, and create value for your customers.
4. Reinterpreting your strategy through the lens of your business model. Question the intricacies of established business models and how they function in terms of the context, drivers, and constraints of your business model environment.
5. Unifying the concept, tools, and techniques to make your model a success. Adapt your approach to business model design so you can overcome obstacles, achieve your critical success factors, and satisfy the needs of your organization

Business Model Generation is a comprehensive guide to building innovative business models. From empathizing & connecting with customers to finding inspiration for products & learning from some of today’s most game-changing platforms, these blinks will help to kick-start the business thinking.

Overcome the challenges of business model design, generation, and reinvention by working through five critical stages:
1. Formulating your business model canvas. Consider how your organization will create, deliver, and capture value. Begin crafting a blueprint for how your strategy will be implemented that includes considerations for your customers, offers, infrastructures, and financial viability.
2. Understanding business model patterns. Look to other successful business models to find inspiration and deepen your understanding of the dynamics of your own approach.
3. Honing the design of your business model. Evaluate the tools and techniques of design that can help you envi¬sion possibilities, extend the boundaries of your thought, and create value for your customers.
4. Reinterpreting your strategy through the lens of your business model. Question the intricacies of established business models and how they function in terms of the context, drivers, and constraints of your business model environment.
5. Unifying the concept, tools, and techniques to make your model a success. Adapt your approach to business model design so you can overcome obstacles, achieve your critical success factors, and satisfy the needs of your organization

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The Business Model Generation

  1. 1. Some Impressionistic takes from the book of Alexander Osterwalder & Yues Pigneur “Business Model Generation” by Ramki ramaddster@gmail.com
  2. 2. About the Author Alex Osterwalder is an author, speaker, and adviser on the topic of business model innovation. His practical approach to designing innovative business models, developed with Dr. Yves Pigneur, is practiced in multiple industries throughout the world by companies including 3M, Ericsson, Capgemini, Deloitte, Telenor, and many others. Previously he helped build and sell a strategic consulting firm, participated in the development of a Thailand-based global nonprofit organization combatting HIV/AIDS and malaria, and did research at the University of Lausanne, Switzerland. Dr. Yves Pigneur has been a professor of management information systems at the University of Lausanne since 1984 and has held visiting professorships at Georgia State University in Atlanta and the University of British Columbia in Vancouver. He has served as the principal investigator for many research projects involving information system design, requirements engineering, information technology management, innovation, and e-business.
  3. 3.  A different kind of business world calls for a different kind of business manual, and that’s what Alex Osterwalder and Yves Pigneur have achieved in their New Age guide to contemporary business modeling.  Abetted by their “Business Model Innovation Hub” – with 470 online collaborators in 45 countries – Osterwalder and Pigneur practiced what they preached when they applied their modeling concepts to the book’s production.  And the concepts are not just theories: major companies such as IBM and Ericsson are converts to the “Business Model Canvas,” a low-tech template for brainstorming and visualizing corporate roles and processes.  The book’s breezy, colorful format, replete with photos, drawings, charts and graphics, belies its intensely researched and reality- grounded content.  A big sheet of paper and a slew of Post-it notes are all you need to get started; that, and the combined creativity, intellect & persistence your team brings to the project. Prelude
  4. 4. A business model describes the rationale of how an organisation creates, delivers, and captures value
  5. 5. CS VP CH CR RS KR KA KP C$ The Business Model – Building Blocks
  6. 6. CUSTOMER SEGMENTS  The Customer Segments Building Block defines the different groups of people or organisations an enterprise aims to reach and serve Customers comprise the heart of any business model.  Without (profitable) customers, no company can survive for long.  In order to better satisfy customers, a company may group them into distinct segments with common needs, common behaviours, or other attributes.  A business model may define one or several large or small Customer Segments.  An organisation must make a conscious decision about which segments to serve and which segments to ignore. Once this decision is made, a business model can be carefully designed around a strong understanding of specific customer needs.  Customer groups represent separate segments if: • Their needs require and justify a distinct offer • They are reached through different Distribution Channel • They require different types of relationships • They have substantially different profitability • They are willing to pay for different aspects of the offer
  7. 7. VALUE PROPOSITION  The Value Propositions Building Block describes the bundle of products and services that create value for a specific Customer Segment .  The Value Proposition is the reason why customers turn to one company over another. It solves a customer problem or satisfies a customer need.  Each Value Proposition consists of a selected bundle of products and/or services that caters to the requirements of a specific Customer Segment.  In this sense, the Value Proposition is an aggregation, or bundle, of benefits that a company offers customers.  Some Value Propositions may be innovative and represent a new or disruptive offer. Others may be similar to existing market offers, but with added features and attributes.
  8. 8. CHANNELS  The Channels Building Block describes how a company communicates with and reaches its Customer Segments to deliver a Value Proposition Communication, distribution, and sales Channels comprise a company's interface with customers.  Channels are customer touch points that play an important role in the customer experience. Channels serve several functions, including:  Raising awareness among customers about a company’s products and services  Helping customers evaluate a company’s Value Proposition  Allowing customers to purchase specific products and services  Delivering a Value Proposition to customers • Providing post-purchase customer support
  9. 9. CUSTOMER RELATIONSHIPS  In the early days, for example, mobile network operator Customer Relationships were driven by aggressive acquisition strategies involving free mobile phones.  When the market became saturated, operators switched to focusing on customer retention and increasing average revenue per customer.  The Customer Relationships called for by a company’s business model deeply influence the overall customer experience.  The Customer Relationships Building Block describes the types of relationships a company establishes with specific Customer Segments.  A company should clarify the type of relationship it wants to establish with each Customer Segment. Relationships can range from personal to automated.  Customer relationships may be driven by the following motivations:  Customer acquisition  Customer retention  Boosting sales (upselling)
  10. 10. REVENUE STREAMS  A business model can involve two different types of Revenue Streams: • Transaction revenues resulting from one-time customer payments • Recurring revenues resulting from ongoing payments to either deliver a Value Proposition to customers or provide post-purchase customer support  The Revenue Streams Building Block represents the cash a company generates from each Customer Segment (costs must be subtracted from revenues to create earnings) If customers comprise the heart of a business model, Revenue Streams are its arteries. A company must ask itself, For what value is each Customer Segment truly willing to pay? Successfully answering that question allows the firm to generate one or more Revenue Streams from each Customer Segment. Each Revenue Stream may have different pricing mechanisms, such as fixed list prices, bargaining, auctioning, market dependent, volume dependent, or yield management
  11. 11. KEY RESOURCES  The Key Resources Building Block describes the most important assets required to make a business model work  Every business model requires Key Resources.  These resources allow an enterprise to create and offer a Value Proposition, reach markets, maintain relationships with Customer Segments, and earn revenues.  Different Key Resources are needed depending on the type of business model.  A microchip manufacturer requires capital-intensive production facilities, whereas a microchip designer focuses more on human resources.  Key resources can be physical, financial, intellectual, or human. Key resources can be owned or leased by the company or acquired from key partners.
  12. 12. KEY ACTIVITIES  The Key Activities Building Block describes the most important things a company must do to make its business model work Every business model calls for a number of Key Activities.  These are the most important actions a company must take to operate successfully.  Like Key Resources, they are required to create and offer a Value Proposition, reach markets, maintain Customer Relationships, and earn revenues.  And like Key Resources, Key Activities differ depending on business model type..  For software maker Microsoft, Key Activities include software development. For PC manufacturer Dell, Key Activities include supply chain management. For consultancy McKinsey, Key Activities include problem solving
  13. 13. KEY PARTNERS  The Key Partnerships Building Block describes the network of suppliers and partners that make the business model work Companies forge partnerships for many reasons, and partnerships are becoming a cornerstone of many business models.  Companies create alliances to optimize their business models, reduce risk, or acquire resources.  We can distinguish between four different types of partnerships:  Strategic alliances between non-competitors  Coopetition: strategic partnerships between competitors  Joint ventures to develop new businesses  Buyer-supplier relationships to assure reliable supplies
  14. 14. KEY PARTNERS  The Key Partnerships Building Block describes the network of suppliers and partners that make the business model work Companies forge partnerships for many reasons, and partnerships are becoming a cornerstone of many business models.  Companies create alliances to optimize their business models, reduce risk, or acquire resources.  We can distinguish between four different types of partnerships:  Strategic alliances between non-competitors  Coopetition: strategic partnerships between competitors  Joint ventures to develop new businesses  Buyer-supplier relationships to assure reliable supplies
  15. 15. COST STRUCTURE  The Cost Structure describes all costs incurred to operate a business model This building block describes the most important costs incurred while operating under a particular business model.  Creating and delivering value, maintaining Customer Relationships, and generating revenue all incur costs.  Such costs can be calculated relatively easily after defining Key Resources, Key Activities, and Key Partnerships. Some business models, though, are more cost-driven than others. So-called “no frills” airlines, for instance, have built business models entirely around low Cost Structures
  16. 16. TWITTER BUSINESS MODEL
  17. 17. LINKEDIN BUSINESS MODEL
  18. 18. The Business Model Canvas
  19. 19. This tool resembles a painter’s canvas — preformatted with the nine blocks — which will allow us to paint pictures of new or existing business models. The Business Model Canvas works best when printed out on a large surface so groups of people can jointly start sketching and discussing business model elements with Postit notes or board markers. It is a hands-on tool that fosters understanding, discussion, creativity, and analysis.
  20. 20. The Business Model Patterns
  21. 21. Pattern in architecture is the idea of capturing architectural design ideas as archetypal & reusable descriptions. Christopher Alexander
  22. 22. PATTERN-1- Unbundling Business Model The Concept of the “unbundled” corporation holds that there are three fundamentally different types of businesses: Customer Relationship businesses, product innovation businesses, and infrastructure businesses.. Each type has different economic, competitive, and cultural imperatives. The three types may co-exist within a single corporation, but ideally they are “unbundled” into separate entities in order to avoid conflicts or undesirable trade-offs.
  23. 23. PATTERN-2- The Long Tail Business Model THE LONG TAIL BUSINESS MODELS are about selling less of more:  They focus on offering a large number of niche products, each of which sells relatively infrequently.  Aggregate sales of niche items can be as lucrative as the traditional model whereby a small number of bestsellers account for most revenues.  Long Tail business models require low inventory costs and strong platforms to make niche content readily available to interested buyers.
  24. 24. PATTERN-3- Multi-Sided Platform MULTI-SIDED PLATFORMS bring together two or more distinct but interdependent groups of customers.  Such platforms are of value to one group of customers only if the other groups of customers are also present.  The platform creates value by facilitating interactions between the different groups.  A multi-sided platform grows in value to the extent that it attracts more users, a phenomenon known as the network effect.
  25. 25. VISA BUSINESS MODEL
  26. 26. GOOGLE BUSINESS MODEL
  27. 27. PATTERN-4- Free as a Business Model In the FREE business model at least one substantial Customer Segment is able to continuously benefit from a free-of-charge offer. Different patterns make the free offer possible. Non-paying customers are financed by another part of the business model or by another Customer Segment.
  28. 28. PATTERN-5- Open Business Model OPEN BUSINESS MODEL can be used by companies to create and capture value by systematically collaborating with outside partners. This may happen from the “outside-in” by exploiting external ideas within the firm, or from the “inside out” by providing external parties with ideas or assets lying idle within the firm.
  29. 29. Techniques to Design Business Models
  30. 30. Business people don’t just need to understand designers better; they need to become designers. …….Roger Martin, Dean, Rotman School of Management
  31. 31.  When you design your organization and its corresponding business models and processes, you must be committed to creating things that are new, discovering the unknown, and ensuring functionality. A designer’s mindset is critical to achieving those goals. Use the following design techniques to formulate your business model:  Customer insights. View your business model from your customers’ perspectives. Learn about their routines, concerns, and aspirations, and use your understanding to innovate and discover new opportunities.  Ideation. Build your business model by conceptualizing a large number of ideas and isolating the best ones for further evaluation. This approach is most successful when you challenge orthodoxies, ignore your competitors’ approaches, and focus on the future. DESIGN
  32. 32.  Visual thinking- Use sketches, diagrams, and sticky notes to illustrate complex ideas and interrelationships within your model. Illustrations of your model can help make it tangible and foster a greater understanding that can fuel discussions and change.  Prototyping- Build a model of your future business by sketching out the concept so you can analyze possible directions and address issues in your structures, interdependencies, and logic.  Storytelling- Craft a compelling story that will help you introduce your venture, attract attention, and engage collaborators before discussing the details of your approach.  Scenarios- Think about how your product or service may be used and the type of environment in which your model may compete. Use these scenarios to make customer insights tangible and prepare your model for future environments. DESIGN
  33. 33. After designing your business model, you must examine the environment in which your organization will operate and evaluate the four forces that influence it:  Market forces-Assess the market’s issues and drivers, growth potential among market segments, market needs and demands, switching costs for customers, and revenue attractiveness when examining external forces.  Industry forces-Conduct a competitive analysis that examines your market’s incumbent competitors, market entrants, substitute products and services, value chain incumbents, and influential stakeholders.  Key trends-Look into trends in technology, regulation, society, culture, and demographics to make projections about customer demand and buyer behaviors.  Macroeconomic forces-Study global market conditions, capital market conditions, price trends for your required resources, and the economic infrastructure of your market to assess the general market sentiment and the costs that will influence your ability to profit. STRATEGY
  34. 34.  After evaluating these external forces, consider the forces through the lens of your business. Assess your organization’s strengths, weaknesses, opportunities, and threats relative to those external factors.  Next, you should question the incumbent business models of your market and explore the customer segments that are available to understand how you can add value. You may follow the Blue Ocean Strategy approach of creating uncontested market space by offering new and valuable benefits and services. Through this approach, you may be able to reduce your costs by eliminating services or features that aren’t as valuable to your business.  If you’re implementing an innovative business model in a well- established organization, you may consider setting up new entities for your new approach, or you might develop separate business units within the larger organization. Determine the right approach for your business by considering the strategic similarities, risks, and severity of conflict that will exist between your organization’s new and traditional models. STRATEGY
  35. 35.  Every business is different, so the business model design process will need to be adjusted to fit the needs of your business. Consider the process in generic terms.  Innovation arises from several different objectives.  For example, a new business model might be needed to bring new products to market to create a new market.  There can be significant challenges on the journey to designing a new business model, including the problem of finding the right model.  Once created, a new model will need to be tested before full- scale launch, and getting the market to accept the new model can be a struggle.  Furthermore, once in place, there is a continuing process of adapting a new business model to adjust to market changes and to manage uncertainty. PROCESS
  36. 36.  In older companies, changing the business model is usually instigated in response to a crisis with the existing business model or to adjust to changing environmental conditions.  New models might also be generated when bringing new products to market. A business may also want to occasionally test new models in preparation for future exigencies.  For existing firms looking to change their business model, challenges include accepting the idea of new models, getting old and new models into alignment, dealing with vested interests and making long-term success the goal.  Designing innovative business models is a messy process. There’s a lot of ambiguity throughout most of the process. It takes time, but the temptation is to prematurely jump on whatever solutions might present themselves without fully going through the process. It’s vital to take the time to explore all the alternatives. Do the research; develop the prototypes. PROCESS
  37. 37. Pull your business model together and tailor your approach using five steps:  Mobilize- Set the stage for a successful business model design project. Develop your business model canvas and engage in storytelling to communicate the need for a new model and the motivation behind it.  Understand-Research and analyze the elements you need for your business model design. Build your knowledge of your customers, technologies, and the environment by gathering information, interviewing experts, studying prospective customer segments, and evaluating their needs.  Design-Develop and test a series of viable business model prototypes. Select the business model design that best suits your objectives.  Implement-Consider the milestones, legal structures, budget, and roadmap as you implement the business model design in your organization  Manage-Monitor, evaluate, and adapt your business model as your gauge your market’s response to it. PROCESS
  38. 38. Outlook
  39. 39.  The utility of the Business Model Canvas isn’t limited to profit- making enterprises.  Every organization is a business in some sense, including nonprofits and private clubs. Any organization that creates and delivers value must be able to generate the income needed to cover their costs — in short, nearly every organization needs to have a business model.  The business model can form the basis of a business plan. Start with the following elements when putting this plan together:  Description of the management team.  The business model.  Financial analysis.  Description of the external environment.  Implementation roadmap.  Risk analysis. STRATEGY
  40. 40. To maximize the effectiveness of the plan, make it comprehensive. Ultimately, you’ll want to turn your business model into an actual business, or if you’re an existing business with a new model, you’ll need to implement it.
  41. 41. Five additional elements are critical to your business model’s success:  Strategy- Use your overarching strategy to drive your business model and define your desired customer segments, channels, and key activities.  Structure- Develop an organizational structure that will support the execution of your business model. Consider whether a centralized or decentralized approach will be more effective.  Processes- Design the critical information flows, processes, and workflows that your model needs to succeed.  Rewards- Implement an incentive program that will encourage your workers to do the right things and reflect your commitments.  People- Identify the kinds of people you need to bring on board to make your approach a success. Consider skills and mindsets as you begin to fill roles. STRATEGY
  42. 42.  The Canvas can also be paired with the Enterprise Architecture approach, which usually depicts a company as having three dimensions: the business perspective, the applications perspective and the technology perspective.  The Business Model Canvas can be used to guide the business perspective, and then the applications and technology perspectives can be aligned with that.  Finally, to aid readers, the authors created an application called the Business Model Toolbox.  This Toolbox has all the features needed to create models; it also makes it possible for team members in separate countries and on different continents to work together remotely. STRATEGY
  43. 43.  Simple approaches to business modeling inspire strategic thinking and holistic design.  The “Business Model Canvas” is a flexible template for conceiving, completing & assessing business models.  Business models should focus on nine interrelated parts, covering a company’s “customers, offer, infrastructure and financial viability.”  “Segment” your customer base and determine what kind of client “relationships” your company needs to develop.  Figure out your firm’s “value proposition” and which “channels” you’ll use to deliver your products and services.
  44. 44.  A company’s “key activities” determine its “revenue streams” and “cost structures.”  Joining up in “key partnerships” with suppliers or even competitors can add to your organization’s “key resources.”  Your models must allow for outside forces such as the economy and competition.  Even the most successful business-model designs are vulnerable to obsolescence.  Proactive companies regularly innovate by reviewing their existing business models.
  45. 45.  Every family business should have an independent board of advisers or directors.  The leader should begin succession planning while still active in the business.  Prepare a contingency plan in case the company loses its leader suddenly.  Seek a successor who is independent, competent, personable and free of entitlement.
  46. 46. ramaddster@gmail.com

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