Susan Boyle, a 47 year-old unemployed woman appeared as anything but a leading candidate for British Idol success. (Blockbuster American Idol and its British spin off are talent shows for amateur singing talents.) Prior to her appearance, Boyle had spent her adult life caring for aging parents in a small Scottish town. No wonder the judges and audience laughed as the overweight, seemingly backward woman walked onto the stage in a frumpy dress, with a 1950ish haircut and challenging accent, claiming she wanted a career as a singer. Boyle’s moving rendition of “I Dreamed a Dream” from the Broadway Tony-award winning musical Les Miserables drew gasps then cheers and then a spontaneous standing ovation from the audience. With a voice which made Julie Andrews, star of Sound of Music and Mary Poppins, sound amateurish, Boyle’s try-out became You-Tube’s most watched video in 2009….
Value Promise and Profit Potential, Part Two
If you need a differentiated, superior value promise to win customers’ votes, how do you know when your value promise is no longer working and business model innovation is called for? Make sure you measure repeat purchases, your consideration rates and your win rates. Discover where you’re losing business and why you’re losing business, as losses signal a weakening value promise and threats to profit potential. Lost order autopsies can reveal – Nascent industries reducing customer interest in your categories Your differentiators becoming standards to be considered Non-traditional competitors entering your space Subgroups of customers exiting for simpler offerings Reduced profit margins also indicate a weakened or less differentiated value promise. But leaders too often forget that a compelling value promise creates the best context for reliable profit potential. They fix profits by cutting costs, forgetting value promise implications. A vital strategic leadership…
Business Model Innovation – About My Blog
It’s gotten harder and harder to succeed in business for a long list of reasons that, like gravity, pull leaders into a short-term focus. Our planning deceives us into thinking we’re being strategic when in reality we’re just working at different degrees of tactical. The end result is that we’re too often operationally terrific and strategically shortsighted. Are you ready to unearth an exciting new growth strategy versus incremental improvements to today’s business? If so, you’re ready for business model innovation. My blog uses the lens of business model innovation to help you radically rethink what your business is all about in order to see previously hidden growth opportunities. Together, our conversation will help you create the mindset, mental-wandering, strategic thinking and knowledge that produces better growth strategy decisions and faster execution. Every organization has a business model whether or not leaders articulate…