We’re blinded by our daily work. We see the trees, not the forest. We focus on an idea that we've had for a year, the familiarity of repetition undeservedly increasing its importance. We find it difficult to think past the last seven customer interviews or sales calls and while these are great for generating usable ideas, they only lead to small increments. Extreme ideas can help you out of tiny thinking. Some ideas are so extreme that they border on nonsense, but the different perspectives can reveal distinctly new ideas.

Brainstorming is hard

If you were forced to increase your prices by 10x, what would you do to justify it? <ul><li>What type of brand looks and feels like something that is expensive? How would the design of both the website and the product need to change?</li><li>What part of your market would you have to target? Do they have different problems or needs?</li><li>What expensive services might you need to supply? </li></ul>

10x prices

If you had to earn your growth and brand from scratch, what would you do? We often become complacent with our marketing, or we never get around to having a truly compelling unique positioning statement. <ul><li>How would you distinguish yourself with a unique compelling message? Would you use a different pricing model?</li><li>Would you throw out some features? Would you build some new features that would make you more competitive?</li></ul>

New customers

If you were never allowed to provide tech support in any form, what would you have to change? <ul><li>How would onboarding need to improve?</li><li>Where would the product need to provide the user with more control, since they can’t ask?</li></ul>

No tech support

What would be the most fun thing to build? What feature do you think would be cool for customers to use? What technology would be fun to work on? It has to be something that makes your product better, not random or unrelated.

Maximize fun

If your biggest competitor copied every feature you have, how do you still win? Creating a bigger and more emotional distinction is a powerful way to win. <ul><li>Is the answer inside your product, in something other than the utility of the features? What is it, and how could you make more of that?</li><li>If the answer is outside of our product, where is it? Is it a higher purpose or brand promise that your customers buy into?</li></ul>

Complete rip-off

What if you had to have a new feature in just two weeks that would delight and surprise a fraction of your customer? Every bit of complexity has to be stripped out, the scope needs to be reduced to a minimum. A 1000-page book can be summarized in a 40-page Cliff’s Notes. The key lessons of Cliff’s Notes can be summarized in a 1-page blog post. The main theme and one unique perspective of the book can be summarized in one sentence. If we trade things off, It can always be smaller.

No time

What if you were forced to charge customers in a completely different manner? If you’re usage-based, you’re forced to charge a flat monthly rate; if monthly with tiers, you’re forced to measure and charge daily with some formula. Business models force you into certain thinking structures about how to monetize the value that you create. Shaking up the business model shakes up the value/cost equation. Sometimes a different business model is actually better for everyone. <ul><li>How would you change how you position the value you deliver?</li><li>How would costs change?</li><li>Are there features that you’d need to build?</li></ul>

Flipped business model

If you were not allowed to have a website, how would you still grow your business? <ul><li>Could you grow by word-of-mouth?</li><li>Could you create advocacy, as in channel partners or ambassadors?</li><li>Could your product be marketing?</li></ul> Your advocates are already using your product, the product is already a platform for growth. What if “in-product marketing” is more impactful on growth than any useful feature?

No website

What if you don't have synchronous meetings ever again? <ul><li>What if you had to onboard new employees without meetings, operate the software, or find where things are located? What systems would need to exist, and what materials would you need?</li><li>What if you had to make decisions without meetings. Is it possible that brainstormed ideas could be even better without meetings?</li><li>How would you create social ties and inside jokes and 1:1 as well as group relationships if you’re never in the same space at the same time?</li></ul>

No meetings

If you could never talk to your customers again, how would you figure out what to build? <ul><li>Could you measure their behaviour so well that you could quickly measure whether any change was positive or negative? Are there clear signs of value or happiness that you could use?</li><li>Could you be even faster at testing new ideas?</li><li>What could you use online in what customers or competitors are saying, that would inform your strategy or product?</li></ul>

No customer contact

What if it didn’t matter how unprofitable you were? How much value could you deliver if you thought of the product as an exercise in philanthropy? It can be surprisingly difficult to convert money to real customer or business value, If there is a way, it might lead to a new pricing tier.

Cost is irrelevant

What if you could change anything, regardless of what anyone thinks? <ul><li>Terminating an entire product line would shake the organisation and possibly cause layoffs. What if it’s the best thing to do, regardless of that?</li><li>Pivoting the entire company could break the organisation, destroy trust in leadership, and cause people to leave. But what if that’s what's required to fix the strategy?</li></ul>

Sociopathic CEO

What externality has the potential to kill the entire company? <ul><li>Can you think of a security breach that is so significant?</li><li>Or what if most of the customer base leaves within a year? </li><li>How could the economy change so that no one would buy your software?</li></ul> Is there something you could do to mitigate the effects? Or something that pivots the company such that it is no longer a threat?

Mortal wound

What if you could only ship one thing this year? <ul><li>What single initiative would make the most difference? </li><li>What would generate the most revenue? </li><li>What would be so exciting that customers would stay even if other things are missing?</li></ul> When you look back over years of a business, often the whole trajectory comes down to 1-2 big decisions per year.

Only one thing a year

How to come up with fresh transformative ideas

It is difficult to brainstorm fresh, transformative ideas. Telling everyone that “no idea is a bad idea” isn’t enough of a prompt. These questions will stretch you beyond your daily experience; if you’re lucky, they could even lead to a unique business model and a long-term competitive moat.

Stashed ideas

Extreme questions to trigger new, better ideas

In Add On business model, the core offering is priced competitively, however, there are numerous extras that drive the final price up. In the end, the customer usually pays more than initially assumed.<a href="https://anchor.fm/unicornic/episodes/Add-on--Additional-Charges-for-Extra---Understanding-Business-Model-e1a0a88">Listen here - Implementing Add - On Business Model into your operation</a>

Add-on | Additional Charges for Extra 

Organization are using personalized information like individual’s preferences, likes and dislikes, information about our finances and other thousand attributes to generate more effective advertisements, to discover product dependences, to identify and evaluate customer habits and thereby lower customer acquisition cost, to carry out real-time market analyses, to improvise existing range of products to cater to ever changing customer demand. <a href="https://anchor.fm/unicornic/episodes/Leveraged-Customer-Data--Making-use-of-what-you-know---Understanding-Business-Model-e18qm51">Listen here - Implementing Leverage Customer Data Model into your operation</a>

Leveraged Customer Data | Making use of what you know

The company sells not just basic products, but also ups potential revenues associated with future sales of complementary products. To capitalise on this potential, companies usually build in exit barriers, to prevent customers from purchasing complementary products from competitors.<a href="https://anchor.fm/unicornic/episodes/Razor-and-Blade-Model--Bait-and-Hook---Understanding-Business-Model-e18sab6">Listen here - Implemeting Razor and Blade Model into your Operation</a>

Razor and Blade Model | Bait and Hook 

Crowdfunding business model involves outsourcing the financing of a project to the general public. You can raise capital by tapping into large pool of individuals—primarily online via social media and crowdfunding platforms.<a href="https://anchor.fm/unicornic/episodes/Crowd-Funding--Taking-Finance-by-Swan---Understanding-Business-Model-e1998tt">Listen here - Implementing Crowd Funding Model into your operation</a>

Crowd Funding | Taking Finance by Swan

The term ‘freemium’ is coined by combining word ‘free’ and ‘premium’. The users get basic features of product at no cost while premium version having additional richer features is chargeable for user.Here, the free version is offered to establish and grow customer base, from which it is hoped that enough customers will desire to shift to premium version later. One of the chief purposes of freemium is to attract new users.<a href="https://anchor.fm/unicornic/episodes/Freemium--Choosing-between-free-basic-and-paid-premium-versions---Understanding-Business-Model-e199b1o">Listen here - Implementing Freemium Model into your operation</a>

Freemium | Choosing between free basic and paid premium versions

he essential aim of the Guaranteed Availability business pattern is to reduce the costs incurred by the breakdown on account of technical failures by ensuring almost zero downtimeThe implementation of guaranteed availability business models generally involves a Flat Rate contract entitling customers to all the services necessary to guarantee constant product availability.<a href="https://anchor.fm/unicornic/episodes/Guaranteed-Availability--Assured-Access-to-the-Products---Understanding-Business-Model-e19983h">Listen here - Implementing Guaranteed Availability Model into your operations</a>

Guaranteed Availability | Assured Access to the Products

In the Customer Loyalty model, customers are retained and loyalty is rewarded by providing value over and above the basic products or services.Here customer’s purchases are recorded and corresponding reward is calculated. The rewards take the form of either physical products or rebates on future purchases, with special offers or discounts. In this way, customers are voluntarily bound to the company, which discourages them from opting for competitors’ products and services and thus protects the company’s revenue.<a href="https://anchor.fm/unicornic/episodes/Customer-Loyalty--Incentive-for-long-lasting-fidelity---Understanding-Business-Model-e199a1g">Listen here - Implementing Customer Loyalty Model into your operation</a>

Customer Loyalty | Incentive for long lasting fidelity

The business model when a company takes a product manufactured by other company and puts its name and logo on it is termed as White Label. In other words, White Label goods are not given a specific name after being manufactured, but are sold by different companies under different names and in different market segments.<a href="https://anchor.fm/unicornic/episodes/White-Label--Own-Brand-Strategy---Understanding-Business-Model-e19ed83">Listen here - Implementing White Label Model into your operation</a>

White Label | Own Brand Strategy

In Flat rate business model, customers pays lumpsum amount for a service or a product for and they are free to use it to heart’s content. The main advantage for customer is unlimited consumption with full control of their costs.<a href="https://anchor.fm/unicornic/episodes/Flat-Rate--All-you-can-eat-unlimited-consumption-at-fixed-price---Understanding-Business-Model-e19edrn">Listen here - Implementing Flat Rate model into your operation</a>

Flat Rate | All you can eat' unlimited consumption at fixed price

Today, Retailers no longer interested in just selling their products; as they are facing a tug-of-war scenario to win the hearts of customers. Experience Selling presents a major step towards achieving just that. A Retailer can differentiate itself from its competitors and forge a direct bond with its customers by providing a holistic experience.The retail industry has done exceptionally well with Experience Selling.<a href="https://anchor.fm/unicornic/episodes/Experience-Selling--Products-appealing-to-Emotions---Understanding-Business-Model-e19efjf">Listen here - Implementing Experience Selling Model into your operation</a>

Experience Selling | Products appealing to Emotions

The logic for a business to rely on its customers to pay for its product or services is ruled out. Here, the company is not dependent on its customers to pay, instead the services are offered for free to its customers. The primary source of revenue is derived from third party. <a href="https://anchor.fm/unicornic/episodes/Hidden-Revenue--Seeking-Alternative-Sources---Understanding-Business-Model-e18t97u">Listen here - Implementing Hidden Revenue Model into your Operation</a>

Hidden Revenue | Seeking Alternative Sources 

Direct selling refers to a scenario whereby a company's products are not sold through intermediary channels but are available directly from the manufacturer or service provider to its customers. In this way, the company skips the retail margin, or any additional costs associated with the intermediates. These savings can be forwarded to the customer and a standardized sales experience established. Additionally, such close contact can improve customer relationships.<a href="https://anchor.fm/unicornic/episodes/Direct-Selling--Skipping-the-Middlemen---Understanding-Business-Model-e19g2md">Listen here - Implementing Direct Selling Model into your operation</a>

Direct Selling | Skipping the Middlemen

A two-sided market business model facilitates interactions between multiple interdependent groups of customers for mutual benefits via its platform.<a href="https://anchor.fm/unicornic/episodes/Two-sided-Market--Attracting-Indirect-Network-Benefits---Understanding-Business-Models-e19g5ss">Listen here - Implementing Two Sided Market Model into your operation</a>

Two sided Market | Attracting Indirect Network Benefits

The From Push to Pull pattern Business Model focuses on the ‘customer is king’ paradigm, making it central to all decisions within the enterprise, be they related to research and innovation, new product development, production, logistics or distribution<a href="https://anchor.fm/unicornic/episodes/From-Push-to-Pull--Customers-create-Value-Vortex---Understanding-Business-Model-e19ll5b">Listen here - Implementing From Push to Pull Model into your operation</a>

From Push to Pull | Customers create Value Vortex 

Lock In business model is based on principle that keeping existing customers is cheaper than creating new ones. The Customers are locked into a vendor's world of products and services.<a href="https://anchor.fm/unicornic/episodes/Lockin--Forcing-Loyalty-with-high-Switching-Cost---Understanding-Business-Model-e19lo0u">Listen here - Implementing Lockin Model into your operation</a>

Lockin | Forcing Loyalty with high Switching Cost 

The Long Tail business model concentrates on selling small quantities of a very large range of products, in contrast to a 80-20 rule - which states that 80% of revenue is generated from 20% of products. With Long tail business model, niche products can even bring in a larger share of the revenue than mass products.<a href="https://anchor.fm/unicornic/episodes/Long-Tail--Little-and-Often-fills-the-Purse---Understanding-Business-Model-e1a0dos">Listen here - Implementing Long Tail Model into your operation</a>

Long Tail | Little and Often fills the Purse

The Shop in Shop business model refers to the practice of retailers or service providers establishing an independent store in another company’s retail space. Instead of opening new branches, a partner is chosen whose branches can profit from integrating the company's offerings in a way that imitates a small shop within another shop (a win-win situation).<a href="https://anchor.fm/unicornic/episodes/Shop-in-Shop--Piggybacking---Understanding-Business-Model-e1a0eo2">Listen here - Implementing Shop in Shop model into your operation</a>

Shop in Shop | Piggybacking 

Fractional ownership describes the sharing of a certain asset class amongst a group of owners. Typically, this Factional ownership business model is popular among the asset that is capital intensive but only required on an occasional basis. In fractional ownership, the customer benefits from the rights as an owner, but they are not required to provide entire capital. This gives the customer's the possibility of purchasing products or services that they otherwise could not afford.<a href="https://anchor.fm/unicornic/episodes/Fractional-Ownership--Timeshare-makes-for-efficient-usage---Understanding-Business-Model-e1a0gj1">Listen here - Implementing Fractional Ownership Model into your operation</a>

Fractional Ownership | Timeshare makes for efficient usage

Reverse innovation is the process whereby goods developed as inexpensive models to meet the needs of developing nations are then repackaged as low-cost innovative goods for Western buyers. The underlying logic is that many products developed for emerging economies or lower-income countries have to meet very stringent requirements from cost prespective. For customers to afford products, costs must be a fraction of similar products in higher-income countries. <a href="https://anchor.fm/unicornic/episodes/Reverse-Innovation--Learning-from-good-enough-solutions---Understanding-Business-Model-e1adg8v">Listen here - Implementing Reverse Innovation Model into your operation</a>

Reverse Innovation | Learning from good enough solutions

Reverse Engineering business model refers to obtaining a competitor's product, taking it apart, and analyzing its technology, functionality and input components that were used to develop the product. These learnings are then applied to build a similar or compatible product.<a href="https://anchor.fm/unicornic/episodes/Reverse-Engineering--Taking-Lessons-from-Competitors---Understanding-Business-Model-e1adhao">Listen here - Implementing Reverse Engineering Model into your operation</a>

Reverse Engineering | Taking Lessons from Competitors

In the Make More of It business model, a company’s resources are not only used to build own products, but also offered to other companies. In this manner, ‘slack’ resources help to generate revenue in addition to the core value proposition of the company.<a href="https://anchor.fm/unicornic/episodes/Make-More-of-it--Multiply-competencies-outside-your-core-business---Understanding-Business-Model-e1adics">Listen here - Implementing Make More of it Model into your operation</a>

Make More of it | Multiply competencies outside your core business

A layer player is a specialized company whose services are limited to the provision of one value-adding step among different value chains. This step is typically offered within a variety of independent markets and industries. The company benefits from its ability to specialise in terms of efficiency gains, multiplying know-how and intellectual property rights. These economies of scale enjoyed by layer player companies often enhances its efficiently. Further, the established expertise can result in a higher quality process<a href="https://anchor.fm/unicornic/episodes/Layer-Player--Benefiting-from-specialised-know-how---Understanding-Business-Model-e1adnu9">Listen here - Implementing Layer Player Model into your operation</a>

Layer Player | Benefiting from specialised know-how 

Franchising model is widely popular in food and beverage industry. Well-known restaurant chains including Subway, Pizza Hut, and KFC have successfully implemented Franchising model to expand its operation globally.<a href="https://anchor.fm/unicornic/episodes/Franchising--All-for-one-and-one-for-all---Understanding-Business-Model-e1aq1mh">Listen here - Implementing Franchising Model into your operation</a>

Franchising | All for one and one for all

In the Cash Machine concept, the customer pays upfront for the products sold to the customer before the company covers the associated expenses. This prepayments by customers results in increased liquidity which can be used to amortize debt or to fund investments in other areas. The Cash Machine pattern involves running a business with a negative cash conversion cycle.<a href="https://anchor.fm/unicornic/episodes/Cash-Machine--Coining-money-with-negative-working-capital---Understanding-Business-Model-e1aq0v6">Listen here - Implementing Cash Machine Model into your operation</a>

Cash Machine | Coining money with negative working capital

Trash to Cash is not a new concept since it borrows heavily from traditional raw material and scrap metal merchants.Trash to Cash results in a win-win situation for both the supplier and the manufacturer: for the supplier of waste products, the waste disposal cost is reduced, and the companies following Trash to Cash business model get cheap resources with are later transformed into products.<a href="https://anchor.fm/unicornic/episodes/Trash-to-Cash--Turning-old-rubbish-into-new-cash---Understanding-Business-Model-e1aq2aj">Listen here - Implementing Trash to Cash Model into your operation</a>

Trash to Cash | Turning old rubbish into new cash

Auctioning means selling a product or service to the highest bidder.<a href="https://anchor.fm/unicornic/episodes/Auction--Going-once--going-twice---sold----Understanding-Business-Models-e1arjeu">Listen here - Implementing Auction Model into your operation</a>

Auction | Going once, going twice...sold! 

The Barter is one of the oldest business models in human history. Barter is a method of exchange in which goods are given away to customers in return, the customer provides something of value to the sponsoring organization. The transaction takes place without the exchange of actual money. The exchange does not have to show any direct connection and is valued differently by each party.<a href="https://anchor.fm/unicornic/episodes/Barter--Tit-for-tat---Understanding-Business-Model-e1arikl">Listen here - Implementing Barter Model into your operation</a>

Barter | Tit for tat

The Open Source pattern has made a myriad of research initiatives successful. The greatest challenge is not to ‘create’ value, but to ‘capture value’. When designing such a business model, it is important to ensure that at least part of the created value stays within the originating company.<a href="https://anchor.fm/unicornic/episodes/Open-Source--Working-together-to-create-a-free-solution---Understanding-Business-Models-e1arkkq">Listen here - Implementing Open Source Model into your operation</a>

Open Source | Working together to create a free solution

User Design is especially promising in industries with comparatively simple products that appeal to customers on account of their design. User design business model feeds into the idea of social communities in which people are increasingly seeking interactivity: they want to help generate ideas, as well as comment and build on the existing ideas and solutions of others.<a href="https://anchor.fm/unicornic/episodes/User-Design--The-Customer-as-inventive-entrepreneur---Understanding-Business-Models-e1arlg4">Listen here - Implementing User Design Model into your operation</a>

User Design | The Customer as inventive entrepreneur

In Robin hood business model, the Company provides the same product or service to 'the rich' at a much higher price than to 'the poor'. As a result, the Company generates a maximum of its profits from the wealthy customer base. Serving 'the poor' at a low is not profitable per se, but creates economies of scale, which other providers cannot achieve. Additionally, it has a positive effect on the Company's image.<a href="https://anchor.fm/unicornic/episodes/Robinhood--Take-from-the-rich-and-give-to-the-poor---Understanding-Business-Models-e1bjmqr">Listen here - Implementing Robinhood Model into your operation</a>

Robinhood | Take from the rich and give to the poor

Ultimate Luxury Business Model pattern describes the strategy of a company to focus on the upper side of society's pyramid. This allows a company to distinguish its products or services significantly from others. High standards of quality or exclusive privileges are the main focus to attract these kinds of customers. The high price charged by these companies allow it to generate high margins, thereby meet its business re-investment needs.<a href="https://anchor.fm/unicornic/episodes/Ultimate-Luxury--More-for-More---Understanding-Business-Models-e1bjn9i">Listen here - Implementing Ultimate Luxury Model into your operation</a>

Ultimate Luxury | More for More

In open business models, the central source of value creation lies in collaborating with partners in the ecosystem. Openness refers to the inclusion of outside partners - suppliers, customers, or complementors into research and development process. Open business model involves exchange of technologies, ideas, production capacities, distribution networks and brands. <a href="https://anchor.fm/unicornic/episodes/Open-Business--Leverage-Collaborative-value-creation---Understanding-Business-Model-e1bmv6g">Listen here - Implementing Open Business Model into your operation</a>

Open Business | Leverage Collaborative value creation

In target the poor business model, the companies design its product or service offering for the customer positioned at the base of the pyramid. Customers with lower purchasing power benefit from affordable products. The company generates small profits with each product sold, but benefits from the higher sales numbers that usually come with the scale of the customer base.<a href="https://anchor.fm/unicornic/episodes/Target-the-Poor--Customers-at-the-base-of-the-earnings-pyramid-Understanding-Business-Models-e1bjnnl">Listen here - Implementing Target the Poor Model into your operation</a>

Target the Poor | Customers at the base of the earnings pyramid 

In this business model, you as a buyer have liberty to decide the price you want to pay for a given product or service. You may also opt to offer Zero price. In some cases, a minimum floor price may be set, and/or a suggested price may be indicated as guidance for the buyer.<a href="https://anchor.fm/unicornic/episodes/Pay-What-You-Want---Whatever-its-worth-to-you--Understanding-Business-Models-e1bn0ld">Listen here - Implementing Pay what you want Model into your operation</a>

Pay What You Want - Whatever it’s worth to you

Aikido is a Japanese martial art in which the strength of an attacker is used against him or her. As a business model, Aikido allows a company to offer something diametrically opposed to the image and mindset of the competition. This new value proposition attracts customers who prefer ideas or concepts opposed to the mainstream.<a href="https://anchor.fm/unicornic/episodes/Aikido--Convert-competitors-strengths-to-weaknesses---Understanding-Business-Models-e18ur11">Listen here - Implementing Aikido Model into your operation</a>

Aikido | Convert competitors’ strengths to weaknesses

Crowdsourcing is the technique of outsourcing specific tasks to external people. The aim of Crowdsourcing is to extend the company’s sources of innovation and knowledge, and open up possibilities to develop cheaper and more effective solutions. Crowdsourcing tasks varies from generation of innovative ideas to the solving of specific problems. Crowdsourcing is suited to discovering more about customer wishes and preferences for future products.<a href="https://anchor.fm/unicornic/episodes/Crowdsourcing--Outsourcing-to-the-crowd---Understanding-Business-Models-e1920nj">Listen here - Implementing Crowd Sourcing Model into your operation</a>

Crowdsourcing | Outsourcing to the crowd

In cross selling business model, the retailer are offering products and services beyond a customer’s requirement. Here the retailer may be trying to educate customers about related products, offer complementary products or enhance customer experience. But the ultimate objective of the retailer is to encourage existing customer to buy more.<a href="https://anchor.fm/unicornic/episodes/Cross-Selling--Killing-two-birds-with-one-stone---Understanding-Business-Model-e1922ml">Listen here - Implementing Cross Selling Model into your operation</a>

Cross Selling | Killing two birds with one stone

Peer-to-Peer business model (commonly referred to as P2P) is based on the principle of cooperation. The Company offers a meeting point, i.e., an online database and communication service that connects these individuals. This services could include offering personal objects for rent, providing certain products or services, or the sharing of information and experiences.<a href="https://anchor.fm/unicornic/episodes/Peer-to-Peer--Dealing-from-person-to-person---Understanding-Business-Models-e18ummm">Listen here - Implementing Peer to Peer Model into your operation</a>

Peer to Peer | Dealing from person to person

The pay per use business model tracks actual usage of a service or product. The customer pays based on what he or she effectively consumes – i.e. rentals are charged based on usage or say on a pro-rata basis.<a href="https://anchor.fm/unicornic/episodes/Pay-per-use--Pay-as-you-go---Understanding-Business-Model-e1bjmg7">Listen here - Implementing Pay per use Model into your operation</a>

Pay per use | Pay as you go

In the Affiliation business model, the company’s focus lies in supporting other parties to market products to benefit from successful transactions. With this the company gains access to a diversified customer base without additional sales and marketing efforts.The affiliate revenue model is based on commissions. In simple words, if you resell an items from the other retailers on your site. You are rewarded for driving new customers to the merchant who is selling the item. <a href="https://anchor.fm/unicornic/episodes/Affiliation-Business-Model--Your-Success-is-my-Success---Understanding-Business-Model-e1a0htg">Listen here - Implementing Affiliation Model into your operation</a>

Affiliation Business Model | Your Success is my Success

A business model is the logic by which an organization sustains itself financially.Current times technology is changing at the speed of light and new businesses are evolving.Companies operating in business over a decade can’t change the environment they operate in, so these companies are forced to evaluate their business models in order to remain competitive.And as we have seen and experienced, these new business models themselves disrupt and cause change. We endeavor to bring to our audience different aspects of Business Models

A strong business model is the bedrock to business success. But all too often we fail to adapt, clinging to outdated models that are no longer delivering the results we need. The brains behind The Business Model Navigator have discovered that just 55 business models are responsible for 90% of the world's most successful businesses. These 55 models – from the Add-On model used by Ryanair to the Subscription model used by Spotify – provide the blueprints you need to revolutionise your business and drive powerful change. As well as providing a practical framework for adapting and innovating your business model, this book also includes each of the 55 models in a quick-read format that covers: What it is Who invented it and who uses it now When and how to apply it “An excellent toolkit for developing your business model.” Dr Heinz Derenbach, CEO, Bosch Software Innovations

Business Models

The Business Model Navigator

If you understand why customers make the choices they do, Innovation would always be predictable, Business Success will not be guesswork.﻿Strategy, Operational efficiency, Branding, and Marketing are all excellent elements that bring your business to life. But the truth is companies succeed because they offer a product or service that customers find irresistible. In a recent McKinsey poll, 84% of global executives reported that innovation was extremely important to their growth strategies, but a staggering 94% were dissatisfied with their organizations’ innovation performance.

The Jobs-to-be-done framework. Why Customers find some brands irresistible

It is an approach to developing products based on understanding both the customer’s specific goal or “job,” and the thought processes that would lead that customer to “hire” a product to complete the job.“Jobs-to-be-Done Theory provides a framework for defining, categorizing, capturing, and organizing all your customers’ needs” – Tony Ulwick

What is the Jobs-to-be-done Framework?


We have always known that the major cause of failed products and services stems from misalignment with customer needs and preferences.Most Businesses Focus on “what they think the customer needs” as opposed to “what the customer actually wants”. Using the Job-to-be-done framework essentially helps teams get to the root of the problem by directly identifying what it is the customer wants to get done. That way success is easily measured because it directly correlates with the needs and wants of a customer.

How the Framework came about

With extensive knowledge on how to use the Jobs-to-be-done framework, Businesses and teams will be able to :– Understand and pinpoint unmet needs– Discover and segregate unique customer needs– Innovate and Create new offerings that will be too essential to ignore in the marketplace– Create real customer value vis proper alignment How do you get started with the framework?

Benefits and getting started 

Before understanding what the customer actually wants, we must first understand who the customer is.Back in the day, it was incredibly difficult to find information about customers but thanks to the big data revolution, companies now can collect an enormous variety and volume of customer information, at unprecedented speed, and perform sophisticated analyses of it.

1. Identify your customers 

You want to study customers and find out what they are trying to accomplish especially under circumstances that leave them with insufficient solutions.When you see customers piecing together solutions themselves or complaining about solutions they wished were available, these are great clues for innovation. Customers make purchase decisions because it gets the job done, not because of any particular affiliation. People are selfish and so naturally they would purchase what benefits them the most.

2. What Jobs are they getting done? 

There are two different types of JTBDs:1. Main jobs to be done – This describes the task that customers want to achieve.2. Related jobs to be done – Which customers want to accomplish in conjunction with the main jobs to be done.Read more about it <a href="https://simily.co/all-stories/deladem/the-jobs-to-be-done-framework-why-customers-find-some-brands-irresistible/">here</a>

3. Categorize the jobs to be done 

You need to define a few cases: for what job your product is hired for, why it got fired, and why your customer switched to another solution.Knowing what products are in a customer’s consideration set for a Job, gives insight into what products a customer considers as competition for their job to be done.

4. Define Competition

What jobs will you prioritize as relevant and need urgent attention?These Prioritized jobs must be based on the urgency of the client’s needs and wants and also that which offers the best opportunities for innovation.Categorize the priorities as :Strongly DisagreeDisagreeUndecidedAgreeStrongly Agreeand then assess the satisfactionAfter assessing, you will find that solutions that need solving will fall into these three <a href="https://simily.co/all-stories/deladem/the-jobs-to-be-done-framework-why-customers-find-some-brands-irresistible/">categories</a>

5. Prioritize the job to be done 

What will a successful outcome look like for your customer? list out expectations and measure success based on the outcome? The four types of outcome expectations are:1. Desired outcomes customers want to achieve.2. Undesired outcomes customers want to avoid.3. Desired outcomes providers want to achieve.4. Undesired outcomes providers want to avoid.

6. What are your outcome expectations? 

Remember that people buy products and services to get jobs done; and while products come and go, the underlying job-to-be-done does not go away.Like this? read the full article <a href="https://simily.co/all-stories/deladem/the-jobs-to-be-done-framework-why-customers-find-some-brands-irresistible/">here </a>share too

Conclusion 

The Jobs-to-be-done framework. Why Customers find some brands irresistible. – Simily

Throughout 2020 right into 2022 the world saw an abrupt pause on everything that made sense to businesses.The traditional way of doing business was questioned. Digitalization was a new way to do business but no one thought it will be rushed so coon due to a pandemic. Businesses came to a halt and systems shook. Industries even came crashing because the very foundation of their business required people to move from one place to the other.

4 business lessons to adapt in 2022

Companies must adapt to new changes regularly or face business death. this concept can be coined from Darwin’s theory of evolution.We are currently facing such times. and Businesses are faced with one decision to make, Adapt or Die. What does it mean to digitalize your business? It means, moving your customer experience and business process to a more digitized space. allowing for seamless business transactions at the touch of a button.

Digitalization is taking over the business world

Many complain that it is so hard to manage people when they work remotely. however, the key to solving this is to embrace remote work and understand what it takes to deliver results.Training that touches on intricate methodologies, and practical tools, helps teams work remotely without the constant micromanaging that traditional workplaces come with. Besides, workplaces are gearing more towards making employees more accountable by allowing them to work with an owners mindset, making them work with more ownership and less permission seeking.

 The Challenge with embracing remote work

Working offshore happens to be a reliable alternative, once a company gets a grip on managing efficiency from remote work.During the pandemic, Some global expansion strategies helped some companies limit risks. With distributed teams in offshoring locations, some companies have allocated resources and work toward the usual pursuit of business. However, this strategy might not work for every industry. For example, some clients who are based in other cities have opted to ditch physical offices and work remotely while receiving the necessary operational support within the shortest time.

Offshoring could be a reliable risk mitigator

One lesson many outcomes. Many businesses that do not adapt are prone to die. Not because they do not want to change, but operationally, they cannot navigate their way towards the necessary change they need to move to the next level.In the end, businesses that come out strong will be those that stand the test of time. Be flexible, adapt to change, be open to options, see this as an opportunity to rise in the shadows, because truly, after the dust settles, where would your business be? Amongst those standing of strong foundations or will be crumbled to dust.

Be flexible to change

What businesses should take into 2022

Many say the very nature of marketing involves a form of science. Does it mean marketing is predictable?Predictive analytics are quite trendy in marketing and in business in general. Many companies are trying to predict and understand the future of a company by using patterns, data and techniques.

Is Marketing Predictable?

While marketing is the core of sales for every business and organization, marketing efforts do not start off with numerous sales.In fact, many companies lose money in their effort to improve their marketing. At some point, Every business strives to reach a state of predictability. When a company reaches a state of predictability, It can drive sustainable growth from knowing exactly how much money to invest to generate a precise amount of new revenue.

A state of predictability 

So what is predictive marketing? It is a marketing technique that involves using data analytics to determine which marketing strategies and actions have the highest probability of succeeding.It has a place in the marketing technology landscape, as companies make use of general business data, marketing, and sales activity data, and mathematical algorithms to match patterns and determine the best-fit criteria for their next marketing actions. Companies that utilize this strategy strive to make data-driven decisions to yield better results

What is Predictive Marketing? 

Three main factors have led to the boom in predictive marketing including the massive amounts of data marketers can access from all available sources, access to data in real-time, and the introduction of cloud computing that provides Big Data technologies.Now that Marketing Tech tools are more accurate and sophisticated, marketers have access to better results and can measure advertising and audience sources to create campaigns with predictable responses. However, there are challenges with regard to seemingly predictive marketing.

The Rise of Predictive Marketing

One of the frustrating challenges with this approach is that it may not live up to some executives’ and marketers’ expectations for fully-automated analytics.Many marketers and business owners looking for results face this common challenge. and this is a result of the fact that marketers fail to marry the art and science of marketing. Humans remain smarter than computers. That is not to say that there are no advantages. let us look at the benefits of predictive marketing.

Challenges with Predictive Marketing 

There are several advantages of Predictive marketing such as having insight into consumers and their behaviours including improving customer engagement and increasing revenue, gaining more sophisticated segmentation of data, identifying campaigns and actions that are better targeted to customers, better-utilizing marketing budgets, and improving lead scoring.

Benefits of Predictive Marketing

Overall, it takes much of the guesswork out of marketing and the benefits of predictive marketing empower companies to conduct more accurate forecasting.It also puts marketers in a better position to see what’s around the bend and perform better in terms of upselling, making the next-best offers, determining long-term profitability, and being prepared for shifts in market conditions.Would you like to take advantage of predictive marketing? check out my next stash on predictive marketing tools and their uses.

Many say the very nature of marketing involves a form of science. Does it mean marketing is predictable? Predictive analytics are quite trendy in marketing and in business in general. Many companies…

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The Jobs-to-be-done framework. Why Customers find some brands irresistible. – Simily

What businesses should take into 2022

Is Marketing Predictable?

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#businessintelligence

IDEAS ABOUT #businessintelligence

Extreme questions to trigger new, better ideas

The Business Model Navigator

It's time to

READ

LIKE

A PRO!

The Jobs-to-be-done framework. Why Customers find some brands irresistible. – Simily

What businesses should take into 2022

Is Marketing Predictable?

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to upgrade
your career