Are your margins shrinking? Is competitive differentiation becoming more difficult? Do you need a new strategy and business model?
Every business has a business model. The challenge is that some business models successfully provide strategic differentiation, competitive advantage, and the basis for sustained growth and innovation, while others do not. The key to maintaining a thriving business is recognising when it needs a fundamental change.
Some of the common questions we hear from our clients include:
How can we move beyond our historic product range to create high-value solutions supported by innovative business models?
How do we capture value in our industry in new ways that drive greater differentiation and growth?
Which solutions can we create which provide the greatest customer value while subsequently locking out the competition?
How can we use services to optimise revenue and profit?
What is the ecosystem of stakeholders and partners which will create the most powerful business model?
How can we use our business model as the engine for sustainable innovation?
Business model innovation is essential to both the short- and long-term health of the organisation. As the core driver of value, revenue, and profit, business models must be continually invented andre-invented as market conditions change.
Only good products or services alone do not make successful businesses. It requires rethinking your business around a clear customer need, then realigning your key resources, processes and revenue model with this new value proposition.
At Henderton, we understand the power of business model innovation to transform businesses, create new markets and target customers, and unlock significant growth. It’s not easy approach but the results can bedramatic, providing a real competitive advantage.
Henderton brings a holistic and collaborative approach to business model innovation. We help established firms overcome critical challenges posed by their existing mindsets and industry assumptions by combining our competencies in strategic thinking, business strategy development, product and service innovation, change management and operational planning.
Our collaborative approach creates a joint team out of an organisation’s entrepreneurs, business managers, visionaries and pragmatists. Finding common ground among different perspectives, personal styles, values, and agendas, we forge alignment around the roadmap which will help your company adaptits next winning business model.
Some of the common questions we hear from our clients include:
Idea creation: generating new ideas for targeting customers, designing new or transformed innovative business models which fulfil customer needs more effectively, efficiently and profitably.
Identify growth opportunities: tapping into ‘white space’ areas presents entirely new customer opportunities with a completely new business model which changes the competitive landscape.
New market entry: enter emerging markets, re-designing business models to recognise the unique, unmet needs of consumers in these markets, profitably and efficiently.
Create new structures: create new systems, rules, and metrics which enable companies to organise for and implement new businesses successfully.
Product development: the development of a new product can be a by-product of business model innovation, and vice versa the work on a new business model often provides inputs and new ideas for new products or improved processes.
Business analogies: taking inspiration from proven business models from other industries can spark creativity, and by building on proven elements, the drawbacks of a particular business model pattern can be anticipated.
Zoom-in: building product features into stand-alone products.
Zoom-out: Reversing the above and consolidating a product.
Growth engine: deciding whether to use a viral, sticky or paid growth engine.
Channel: revising pricing, features or competitive positioning to optimise the delivery channel to customers.
Technology: reviewing how to improve the technology to provide pricing or performance efficiencies to the customer.
Effective communication: implementing the appropriate channel or platform to document the design process, organise work, report on completed tasks, or communicate quickly.
Organisational learning: placing the focus on an iterative approach for finding successful business model designs than efficiency.
Organisational capabilities: the development of new organisational capabilities and structures, as well as relationships to new suppliers, customers or other business partners.
Future-proofing: searching for and discovering new business model breakthroughs while the current business model is still successful.
Ongoing monitoring: designing and implementing a structured approach, tools and frameworks for monitoring business model environments.
If you would like to learn more about our experience, please contact our Strategy team.
We have worked with a number of international businesses, helping them to pivot or re-design their business models:
Want to learn more about how we can help you grow?
Henderton acts as independent, trusted advisors to innovative companies throughout their growth lifecycle.
Get in touch and understand how we can help you achieve your objectives.
