Business Model Development
Regardless of the industry, or how successful it has been in the past, change and innovation are inevitable factors in the life cycle of any organization. Change is driven by internal and external factors such as the repositioning within a market, emerging disruptive technologies, or digital transformations of entire industries. Taken this together change forces organizations to reconsider their business models.
As an innovation pioneer HYVE enable businesses to learn reinventing themselves, because their business model will eventually expire or new business models provide new opportunities for the own organization. With the successful method of business model prototyping HYVE supports companies to break through creative blocks and imagine radically new opportunities for their business. A business model describes how an organization creates, delivers and captures value. It is an abstract demonstration of your firm in conceptual, textual and graphical way.
While prototyping is already common for the development of physical products, the technique and its advantages can also be applied to put your business idea into practice. Business Model Prototyping basically applies the same approach, but instead of visualizing physical products prototyping involves understanding and visualizing potential business opportunities. You build assumptions, test them, learn and repeat the process. Hence prototyping supports the exploration of the current situation, the design of new ways of doing business and the first realization of new business ideas.
With our service, we want to 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 too expensive or dangerous to take in real business.
Outcome & Benefits
- Identification of highly potential ideas and concepts for your future business model
- Visualization of potential business ideas and the generation of an shared understanding
- Generation of a dynamic picture including all relevant insights and assumptions
- Interdisciplinary and iterative testing and development of business models
- Challenge idea concepts regarding feasibility, desirability and viability
- Refinement of value proposition of preselected concepts
- Iterative prototyping of business ideas to continuously test and improve the concepts
- Selection of consistent and promising concepts
HYVE experts are applying a mixture of soft and hard methods involving storytelling, testing ideas, game-playing, spreadsheets, visual models and other simulations. The goal of business model prototyping is to capture innovative ideas in the whole development process and subsequently being able to 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 sharing comprehensive knowledge based on relevant perspectives, including users, business, technology, design and process
- Extensive best practice experience and transfer