Inventing a new solution is not always the best or easiest way to make a revolution in an established industy. Often a new business model will be a much easier and more efficient way to change the game.
The exercise described below is a way to
- map the rules in an industry
- explore ways to change the game with new business models
Get your Business Model Architect ELEMENTS and BUILDING SITE (or a Business Model Canvas) and do like this:
Map Your Industry
- Name the industry where you want to develop new business models (like fast food restaurants, shoe manufacturing, music streaming services etc.).
- List the 3-5 most important companies in that industry. If competitors have different business models, be sure to have all major business models represented.
- Take the ELEMENTS cards colour by colour and pick the cards that are already represented in the business models of existing companies in the industry. Put the cards on the BUILDING SITE.
- When you have been through all categories, take a good look at the cards you have picked – just to get the big picture of what everybody elses is doing.
Change the Game
- Clear the BUILDING SITE and put all the cards you picked under Map Your Industry aside.
- Now take the cards that you didn’t use – the cards that nobody in the industry is currently using.
- Discuss for each category (colour) how you could create new business models in your industry with ELEMENTS that nobody else is using.
- Pick your favourite cards for gamechanging business models.
Build a game changing business model
- Finally build a full business model based on your game changing cards. In some categories you will of course use ELEMENTS that are used by the industry in general.