The easiest way to differentiate yourself from your competitors is via business model innovation, just like Uber, Netflix & Airbnb

1. The 6 Steps of Business
Model Innovation

2. How do you make your big, bold,
and breathtaking dream come
true? For sure, you do not need
a five-year strategy plan
resembling a communist planned
economy.

3. Instead, you need strategic agility
– the ability to identify and react to
opportunities and threats that occur
suddenly in the market.
You need a strong business model
that answers the very important
question: How are you going to
deliver value to your customers,
thereby making a profit?

4. To many, it actually comes as a
surprise that the easiest way to
differentiate a company from its
competitors is by means of the
business model, not the
products and services.

5. Recent examples of companies
who have become successful
by means of business model
innovation include Amazon,
Netflix, Airbnb, and Uber

6. But an older example is this: In
1959 Xerox introduced the
revolutionary plain-paper Xerox
914 copier. There was one
problem though...

7. it cost six times the price of the
traditional alternative and
consequently was extremely
difficult to sell. Therefore, they
had to develop a new
business model

8. Rather than selling the machine,
they leased it for $95 a month
and charged a few cents per
copy for copies made in excess
of 2,000 per month.

9. Due to the speed and
convenience of the Xerox 914,
customers started making many
more copies than they had
previously,

10. which meant that the copier that
could not be sold suddenly
became a huge revenue
generator - because of an
alternative business model.
You must find a way to do the
same.

11. Here are the 6 key aspects of
an effective business model:

12. 1. Who is your target group?

13. 2. What problems, frustrations, and
challenges should you solve?

14. 3. What value proposition do you
deliver?

15. 4. How will you reach, acquire, & keep
customers?

16. 5. How will you generate revenue?

17. 6. What is your cost structure?

18. We don’t know if Amazon, Netflix,
& Uber answered these questions
before they came up with their
strong business models.

19. However, they definitely
considered several different
business models, & you must do
the same to reach your goal.

20. For each of the six questions
above you could answer in three
different ways. That gives a total
of 729 different combinations of
business model

21. The idea is not to investigate all
of these, however, you should
consider more than just a few.

22. And the one you end up selecting
must be scalable – otherwise,
you will not be able to grow rapidly
enough.

23. For further insight please download our
free Mission to Mars whitepaper by
clicking below:
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