Five Tips to Save your Business Model

“What business are we in?” is the most fundamental question that business leaders should we asking today. Here are five tips for answering the question correctly from Kay Plantes.

Plantes’ recommendations for looking at business model innovation opportunities include answering the question of “What business are we in?” from the perspective of current and prospective customers, solving a higher-level problem, creating a new product or service category, keep answering the question (to guard against creeping complacency) and to be comfortable with not having an answer (develop a mindset of constant probing instead of taking a “check it and forget it” attitude).

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