Business Model Innovation

2 points·kseven··4 comments

I find the Business Model Canvas by Alexander Osterwalder an AWESOME tool to innovate around your business model and give your company competitive edges. I first found this amazing concept in 2011 but it's only now that I'm reading its book "Business Model Generation"

The book is shifting my mindset from product innovation to business model innovation.

What do you think about the canvas, book? Any relevant experiences, stories?

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I found it useful, yes. It doesn't guarantee anything, but as a framework to drive your thinking in certain areas and force you to think about innovating in areas that you might not have thought about, it's very handy.

A fun exercise is to get a small group of like minded folks together (5-7 max), print out some blank canvas forms, and huddle up around some coffee or something, and brainstorm ideas collectively. As long as no one in the group is competing with your thing and/or you trust the other people, it can be a fun way to generate new ideas for everyone.

We did something like this a while back as an RTP Hackers & Founders event and it went over very well.

Some of the frameworks ideas from the book Blue Ocean Strategy are also useful in a similar way.

Thanks for the insight, it seems promising. I'll certainly give the exercise a try.

This Open For Business Plans is quite handy: http://openforbusinessplans.herokuapp.com/

It's free btw.

Thanks, I'll take a look at it.

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