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Every business has hidden potential which is often in the form of unmet customer needs, unused capabilities, or untapped markets.
How do we find and act on these?
- Start with customer pain points
- Analyze market data and trend shifts
- Test ideas through MVPs and pilots
- Discuss inside the company as as your team members and other colleagues have pointers on what could be changed
And don’t overlook your existing expertise inside your teams. Often, new business models lie just next to your core.
An example: turning industrial equipment sales into a subscription-based monitoring service, so from product to recurring services sales.
Let’s stop guessing what’s next and start exploring it with purpose.
#BusinessModelInnovation #CustomerCentric #GrowthStrategy
