Business Model Development
Change and innovation are inevitable factors in the life cycle of any organization. Driven by internal and external factors, such as repositioning within a market, emerging disruptive technologies, or digital transformations of entire industries, change forces organizations to reconsider their business models.
As an innovation pioneer, HYVE enables businesses to learn how to reinvent themselves. Using business model prototyping, HYVE supports companies break through creative blocks and imagine radically new opportunities for their business.
While prototyping is already common for the development of physical products, the technique and its advantages can also be applied to transform business ideas into practice. Business Model Prototyping applies the same approach as product prototyping, but focuses on understanding and visualizing potential business opportunities. Assumptions are clarified, tested, evaluated and verified to support the exploration of the current situation, the design of new ways of doing business and the development of new business ideas.
Using this service, we enable companies to quickly explore valuable alternatives and to assess their feasibility, desirability, and viability. Moreover, business model prototyping gets your idea concepts ready for launch in a risk-free environment that allows organizations to explore consequences of actions and decisions that are otherwise too expensive or dangerous.
Expected Outcome & Benefits
- Identification of high potential ideas and concepts for business models
- Visualization of potential business ideas and generation of a shared understanding
- Generation of a dynamic picture including all relevant insights and assumptions
- Interdisciplinary and iterative testing and development of business models
- Evaluation ofidea concepts regarding feasibility, desirability and viability
- Refinement of value proposition of preselected concepts
- Iterative prototyping of business ideas to continuously test and improve concepts
- Selection of consistent and promising concepts
Business model prototyping focuses on deep reflections regarding value propositions, initial business planning and decision making. Our innovation experts work together with your team to bring together relevant data and people in a joyful but competitive working environment. Different teams work on preselected ideas or concepts and elaborate those in depth. The most consistent and promising concepts and value propositions will be presented in pitches at the end of the project.
HYVE experts apply a mixture of soft and hard methods involving storytelling, idea testing, game-playing, visual models and other simulations. The goal of business model prototyping is to capture innovative ideas throughout the whole development process and to subsequently evaluate how the business model will perform under particular market conditions.
- End-to-end innovation support with strong implementation skills
- Open Innovation pioneer and thought leader, drawing on HYVE Science Labs
- 16 years of Open Innovation experience
- Systematic, yet flexible and agile approach
- Fast testing and selection of potential business models
- Access to broad range of methods and tools
- Interdisciplinary competences provided by user interface designers, (micro-) electronic and telecommunication engineers, software engineers, mathematicians, other natural scientists and global user networks
- Consultants share comprehensive knowledge based on relevant perspectives, including users, business, technology, design and process
- Extensive best practice experience and transfer