Classic Strategy taught executives to focus on their core business, generate one business model and defend it. Not any more. Today, executives of leading innovative firms need to develop a portfolio of business models. A single, core revenue stream is too fragile in a fast paced competitive environment. Excellent firms place a series of intelligent, small bets. They experiment, pivot, learn and test a series of business models. Their strategy is one of ”fail fast and learn”. They balance a series of on-going, sometimes conflicting and cannibalizing business models.
Three Levels of Business Models gives you and your company a single, visual strategy tool to balance your portfoilo of business models. Use these three levels to map our your various categories of revenue streams. Map out your present and your future revenue streams. Design and test your hypothesises to find your balance.
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In this talk, Engage // Innovate founder Christian Rangen shows the power of business model innovation.
Rangen shows how new tools, like Three Levels of Business Models and Business Model Canvas, enable companies to get started on business model innovation. Using examples like Disney, Google and Tesla Motors, Rangen shows how leading firms design not one, but a portfolio of business models.
More importantly, Rangen shows how our mindset prevents or enables us to come up with new business model designs. The Innovation Thinking Mode stearing our fast thinking processes affect our business model innovation to a far greater extent than previously thought. Becoming aware of the enabling or blocking powers of one’s own mindset is a key starting point for any business model adventure.
This talk was filmed at the “Learning to work differently with strategy” workshop seminar, in Stavanger, Norway, January 29th 2014.