Since a new business model requires disrupting the present, it’s important to be thoroughly conversant with your prevailing model and how your business creates value. If you are to succeed in business model design, it’s important to understand what a new model actually is and how it differs from mere positioning.
Since Joan Magretta’s pioneering article years ago, the term business model has entered the popular lexicon with a vengeance. Give thought to putting a new business model in place, instead of refining positions on strategic elements while looking for some competitive advantage.Take an outside-in view, focusing on outcomes, not activity, in addressing whether the business model is truly new or not.
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