In just two weeks we are going to launch our new Business Modelling Facilitator training. This has been a frequent request from our Facilitators, and now it seems to be more important than ever. To warm up, we are giving you a series of three webinars on the subject.
Business modelling during the epidemic
2020 has brought into focus many companies' business models, and is shaking them to their core.
What we're seeing now in this unique situation is that everything is challenged, including every assumption that your business model is built on. Some have already changed their business model, and some might be forced to change.
Through this process you will see what are the strengths in your business model, what can you build on and really use in this situation, and what are the weaknesses.
Most companies will have to pick the parts that can change the fastest and iterate without breaking many things. They will have to find the hotspots in their business model.
In this webinar we talked about how you can use Business Model Canvas and Lean Canvas to investigate your business model. We focused on what we believe to be the current hotspots.
We are going to go through these two tools in our upcoming Business Modelling Facilitator Training.
Business Model Canvas
Hotspot #1 Product creation and delivery
The value chain of a lot of companies is under strain. When many factories in China went offline during their quarantine, many companies were unable to get their products or parts for their products.
Eventually, most factories will go back online, but there are lessons to be learned here. This could be an opportunity to change the way you source your products. A solution that could have lower risk may be connecting with local suppliers, testing 3D printing of parts and so forth.
Hotspot #2 Redefining your customer relationships
If you are a physical store, your challenge now is that you can't meet people any more. A solution would be switching to a model where you sell online and send products to your customers. But what will make you stand out and build your customer relationship? Choosing a bland service is always an option, but building something extra into it could help redefine your customer relationship.
Hotspot #3 Channels
Finding a new channel that is right for you to reach your customer has now become important. For example, musicians get their revenue from concerts, and holding concerts is temporarily not allowed and no one knows if it will be allowed in 2020 at all. The simple answer is to do online concerts. But switching delivery channels is not easy, because you have to find a way to successfully monetize this.
Hotspot #1 Problem-solution
6 weeks ago we were doing things without even seeing a problem - like going to the doctor. Of course, even then it would have been nice to do a video call with your doctor, but it wasn't really an important problem. We weren't willing to pay to have this problem solved.
Now, many people are afraid to go to the doctor because of the pandemic, and some are not even able to go. Online solutions for doctors has now become a big opportunity.
Hotspot #2 Revenue streams
People are still doing the same job, but some may have to find a new way to monetize this - an example we mentioned with musicians. There is now an opportunity to provide a solution for artists to get paid.
Hotspot #3 Customer segments
Rethinking how we go about customer segments has changed a lot. Doctors that are resistant to anything online (before were a late majority), are now forced to use some online tools, and they are becoming early adopters.
Why Business Modelling Facilitator Training now?
As we said in the beginning, business modelling is more important than ever, for all organisations out there.
We are on a mission to make innovation heroes truly succeed in helping others innovate more efficiently and create new solutions to the problems their clients face.
This training will give you the advice and tools you need to set up your own business modelling training, and help you in your quest to make the world a better place.
We have received a lot of questions for our Business Modelling Facilitator training, and covered some of them in our webinar, and will cover more of them in the upcoming two webinars.
If you have a question about our Business Modelling Facilitator training, you can leave your questions in the comments section below, and we will be happy to answer them in the upcoming webinars.
The next webinar on the topic of business modelling is scheduled for Tuesday, 5th May 2020, 16:00 UTC/GMT+2. Register here!