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Four Questions You Should Always Ask Before Putting in Cost Reductions Most cost reductions cause more harm than good. Check your cost reductions with these questions before putting the cost cuts in place and you'll have much more success. Acquisitions: Consider the Potential of Other Operations When Included in Your Company's Business Acquisitions can be very successful when your organization can make the other operation much more effective. Employ Alternative Technologies That Offer Cost Advantages for the Entire Business System To profit the most go beyond reducing your costs through technology . . . to lowering costs from suppliers through to customers' customers. Rather Than Get It Wholesale, Access What You Need for Close to Free Don't pay anything if you don't have to. Reduce Costs for All Stakeholders and Yourself Reducing stakeholder costs creates faster and more profitable growth. Look to Reduce Customers' Costs as Well as Your Own Many cost reductions simply burden customers with more costs and drive customers away. This article looks at using cost reductions to attract more customers. How Would Testing Delays Help or Hurt Your Ability to Check Different Price Structures? Pick the wrong time to test a new price, and you'll get back bad information. Here are some ways to avoid making that mistake. How Do Your Price Tests Potentially Impact Your Customers' Relationships with Their Customers? Price tests can be a mistake when they create friction between customers and their customers. Here are some things to consider to avoid doing that. Price Proposals: Select the Best Ideas to Pursue Everyone has an idea for how to improve pricing, but most of those ideas aren't even worth testing. How can you avoid the worst of the wrong ones? Use Price to Attract More Attention for New Business Models Low prices get attention better than claims of better offerings. How to Handle Having Too Many Successful Business Model Innovations to Implement After experience with defining business model innovations and adding lots more tests, you'll reach a point where you have more successes than you can handle. What do you do? Add Profitable Business Model Innovation When You Don't Have Many Successes with Innovation Tests Most organizations don't have many proven ideas for business model innovation to implement. This article presents answers for that situation. Find Simple, Cheap, and Easy Tests That Excite Your Organization to Locate Better Business Models Many good sounding business model concepts flop in market tests. Make these tests easy-to-do, and lots of innovation mistakes will be avoided. Select the Best Opportunities for Establishing a Vastly More Profitable Business Model Most organizations have far more opportunities to create improved business models than they can implement. How should you choose a new model? Diagnose What's Missing from Your Business Model to Triple Profits Ask new questions about your business model, and you'll find opportunities for new ways to improve. For the Most Profitable Business Model, Repeat What You Have Done, But Differently Take another look at your thinking about business model innovation, and you'll find new opportunities you missed the last time. Before Establishing Your Business Model, Anticipate the Potential Effects of What You Can't Control Don't forecast, but do think about the future so that you will have a business model that will do well . . . regardless of what comes next. Boost Your Business Model by Borrowing New Expertise You Have Not Thought of Using Before This article looks at how adding new competence from the outside can speed and strengthen your business model innovation to add profitable growth. If Your Glasses Are the Wrong Prescription, You Won't See Opportunities in Front of You CEOs are focusing on the wrong things now. They need to shift to continuing business model innovation. Lack of Focus Among Large Company CEOs Will Drive Accelerating Business Model Innovation Few are focused on business model innovation. This means an unusually good opportunity for those who do. Turn Business Model Leadership into Industry Leadership Can a small industry player use a new business model to become the industry leader? You bet. This article discusses how this might be done in gold mining. Create a Gold Mine of Improved Business Models What's better than owning a gold mine? Having a better business model for extracting gold. This article explores how business model innovation has revolutionized the gold mining industry. Respond to Rapid Increases in Business Model Innovation This article contains a forecast of future trends in business models that you need to be prepared to implement. Get Ready for Rough Competition from New Business Models The competitive landscape is shifting to emphasize business model innovation. The pace of this shift is accelerating. Are you ready? Upgrade to a New Business Model Rather Than Try to Get More Out of Your Existing Business Model This article asks what you as a leader and entrepreneur should focus on: better business models or increasing the performance of your existing business models. How Should You Evaluate Your Current Business Model? Most people would like a better business model, but are unaware of how to see where the current business model can be strengthened. This article addresses that need. High-Payoff Business Model Innovations: A Lemonade Stand Example Simply copying what everyone else does won't deliver an improved business model. This article shows how focusing on high-payoff innovation choices can help provide more profit and growth. Understand the Seven Dimensions of a Business Model Through an Example A child's lemonade stand provides an example of what a business model is. The Seven Dimensions of a a Business Model "Experts" are fond of telling entrepreneurs to have an advantaged business model, but seldom define what a business model is. This article provides a clear definition that can be used to start thinking about how to create an advantaged business model Strive for an Ideal Business Model An ideal business model brings exponentially greater rewards than a good business model does. This article describes the ideal approach. Don't Be Blinded by Spreadsheet Illusions of a Golden Future This article looks at how leaders should focus their attention to make the most profitable improvements. A Narrowed Focus Can Concentrate Business Model Innovation Success EMC, the data storage giant, went from being a marginal also-ran into an industry powerhouse by first concentrating its business model innovation where the value would be highest. This article provides a case history you can learn from. The Future Value of Business Model Innovation Those who provide continuing business model innovations rapidly and easily will gain exponentially larger competitive advantages and profit gains. The Competitive Importance of Continuing Business Model Innovation You can gain lasting competitive advantages. How? By continually upgrading your business model in more profitable ways. What One Thing Can Most Improve a Company's Growth and Profits? Continuing business model innovation is what company leaders must do best in setting a strategy and a learning agenda. Develop Irresistible Force Detectors to Locate Buried Treasure Opportunities can be unearthed when irresistible forces and new trends bring us to new situations in our markets. Engage With Neighbors To Harness Powerful Trends That Can Add Profits No company is an island, entire of itself. Pick the right neighbors, and you'll be a lot more successful. Carefully Investigate Powerful Government Trends Trends driven by government action often turn out to be misleading fads. Be careful you aren't fooled. Use Competitors To Anticipate And Profit From Powerful Trends Competitors actions and results can often reveal the future and current direction of powerful trends. Let's Shop Until the Trend Drops Measuring a trend carefully can help you be ready to shift when it flags. Step One: Recognize How Measurements Can Help Identify and Understand More About Irresistible Forces Most people don't think about identifying and measuring irresistible forces. But learning how to do this is essential to taking advantage of irresistible forces. Travel the Road Less Threatened to Succeed Taking on extra risk for no potential gain is a foolish choice. Not checking for the risk-reward relative to irresistible trends is even more foolish. Do the Opposite of the Financial Advice Business Schools Provide and You'll Succeed Business schools love to tout the advantages of borrowing lots of low-cost debt. Powerful trends can easily overwhelm those who follow such ill-founded advice. Your Business Model Is Obsolete And Falling Profits Face You Static business models don't have a chance in the global, connected marketplace. Continual upgrades of business models are needed. Insulate Your Enterprise from the Cold Head Winds of Changed Trends Everyone who has ever been to a football game after Thanksgiving knows that dressing warmly is required. Dressed warmly enough, and you can enjoy the game as much as one in September. This article suggests insulating your business from the cold head winds of change so you can profit from those changes. Family Sizes Are A Strategic Factor You Must Focus On In most of the world, the number of children in a family is dropping rapidly. Such demographic trends dominate strategy and business success and must be focused on. I Didn't Think the Other End of the Loose Board Would Hit Me in the Face When I Stepped on It Be sure to look into causal connections that may led to results you don't expect or want. Seven Ways To Stupidly Lose Profits By Trusting Others Other organizations will act in their own best interests . . . you can count on that irresistible force playing its role in your business. Be Prepared for the Rules to Change in the Middle of the Game Many build strategies for new entrepreneurial directions around the assumption that business rules won't change. That's a dangerous assumption to make. Check Trends to See If They Are Fads or Long-Lasting Directions Many people are fooled into thinking that short-term fads are doing to last, and vice versa.
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