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Ideas are the Only Currency in the New Economy

Business Model Management is the Only Way to Stay Competive

January 8th, 2010 · No Comments · Ideas

There is a great article on BusinessModelAlchemist called,

Business Model Management – a defining topic for the next decade

Staying ahead of competition requires more than an impressive one-time business model innovation stunt. It requires the careful evaluation and improvement of one’s more established business model (cash cows), while proactively playing with a portfolio of new business models. This can be presented as a spectrum ranging from “improving business models” to “disrupting/inventing business models”.

I couldn’t agree more. I constantly read about people and companies complaining about too much competition, customers who only care about prices, and declining sales. They seem to feel that it is unfair that they have to work harder for less profits.

If your business is struggling maybe it is time to start implementing new business models. Actually, the time was probably a lot earlier then when you noticed the problem. People are not going to pay thousands of dollars more to buy a car just because GM can’t sell them at a competitive price. It is not a market problem. It is a business model problem.

Jonathan Fields has a great article called  If your Business Sucks, Don’t Blame the Market about the tough times retail eyeglass businesses are facing and some ideas to fix the problem.

Seth Godin has a short post about how Groucho Marx managed to reinvent himself with the advent of films and then again television.

Godin, in another post about the discussion of Chris Anderson’s book Free: The future of a Radical Price also addresses a similar issue.

The first argument that makes no sense is, “should we want free to be the future?”

Who cares if we want it? It is.

The second argument that makes no sense is, “how will this new business model support the world as we know it today?”

Who cares if it does? It is. It’s happening. The world will change around it, because the world has no choice. I’m sorry if that’s inconvenient, but it’s true.

Be sure to check out the fantastic book, Business Model Generation and the process of how it was created. Very cool!

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