Business Models: Are You Entering a Market or Building One?

There is a huge difference between entering an existing market and building a completely new one. A look back at Apple’s fledgling Apple 1 personal computer contains some important lessons for innovators who seek to create new business models and product categories.

For example, the Apple 1 started out looking like a product that was clearly built by hackers. It was so crude, that it’s no wonder IBM didn’t view it as a threat to its mainframe computer business. But disruptive products often grow out of microscopic niches like the one pioneered by Apple.

If you’re building a market, learning is the most important thing. The structure of a well-defined product launch process is actually deadly in this situation, because it assumes that you know what business model will work, but that is actually what you’re searching to find. Your goal is to fail fast – and learn faster. Most importantly, when you’re building markets, you need to be building dynamic business models that evolve.

Read full article » timkastelle.org/blog…

 

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  • http://www.lyonessscamreview.com/ Jeanette Hayworth

    Stating a new business model that everyone else tries to follow is really easier said than done. However, when you manage to create a product or service that is a game changer, you will stand to profit. Companies like Apple are few of the ones that constantly change the game – like the iPhone and iPod.

  • http://www.lyonessscamreview.com/ Jeanette Hayworth

    Stating a new business model that everyone else tries to follow is really easier said than done. However, when you manage to create a product or service that is a game changer, you will stand to profit. Companies like Apple are few of the ones that constantly change the game.

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