All Business Models and Innovation run out of speed at a certain company development stage or when being disrupted from another business model and this trend is accelerating in the 21st century. In the past 50 years, the average business model lifespan has fallen from about 15 years to less than 5. Business model innovation is thus no longer one of many ways to gain a competitive edge, but it is a necessary core capability to respond to—and capitalize on—a changing world:
– All Innovation has become short cycle, long cycle is something the companies cannot afford. Speed is survival.
– It is necessary to link all your processes and work with multifunctional teams.
– Knowing the end consumer and experimenting with various value propositions/solutions in order to find the minimum viable product and optimize is imperative for success.
– The economy is connected, shared and on demand
– Consumers are becoming powerful
– Technologies are growing exponentially with multiplication effects
– Digital Customer Experience becoming the norm and Human Relationships matter
– Data mining and corresponding insights are transforming the way we take decisions and we do business
– 10x better/faster/cheaper/……. or more is becoming the new competition threshold
– Crowd, Relationships and Communities are determining the success of many businesses