Thinking about your new opportunity in an existing busness.
Two complimentary sets of tools could be useful to you maximizing the potential of your new successful business model / business software.
They come out of Silicon Valley innovation and start-up community, and they are being applied to existing larger corporates also to reinvigorate them in a fast changing market.
These are Market Validation / Customer Development and Business Model Generation.
(Please note: the examples and links below are mostly IT startups, and the principles apply to existing businesses with some validity):
Market Validation / Customer Development (for example in an existing business – asking existing customers, past customers, and potential customers what they need and will pay for)
- What are customers seeking?
- Why do they do / not do business with us?
- What was their experience?
- What was their result?
- What insights do we gain from the answers?
For Market Validation / Customer Development see the links below
Customer Development combined with Agile Development evolving a product people actually want!
http://www.youtube.com/watch?v=8yEvOTgCJEY&feature=related
A Scientific approach to making entrepreneurial decisions
http://www.youtube.com/watch?v=y-ozPfRHFt8&NR=1&feature=endscreen
Business Model Generation
Using a business model generation tool – such as the Business Model Canvas
Searching, exploring and developing new business models
Testing business models before we build them
When the model works – then build it
For Business Model Generation see the links below?
Business Model Canvas (in short)
http://www.youtube.com/watch?v=QoAOzMTLP5s
Business Model of Groupon vs. daily email lists
http://www.youtube.com/watch?v=7J-PHRNoc20&feature=related
Good business models for VC funding
http://www.youtube.com/watch?v=5ZXZDcQAskU&feature=endscreen
Business Model Generation in Detail
http://www.youtube.com/watch?v=jMxHApgcmoU&feature=related
These tools might be part of a Strategic Overview of this opportunity
They might also be part of an ongoing strategic business / product development process
Follow Jerome!