Business Model Components
business model components
The Five Powerful Advantages of Staying Focused on Building From Initial Business Model Advantages
Let’s explore why you will benefit from focus on building on your initial business model advantages over competitors. Here are the reasons:
1. Building from initial business model advantages adds to knowledge of what customers need and how to provide better solutions. Without such focus, competitors can gradually catch up with an improved business model as happened briefly to American Woodmark.
2. Having provided superior solutions for a long time also increases customer loyalty and stability. From such longer-term relationships, even more can be learned. At the same time, your reputation grows with these customers in ways that makes them more willing to try your new products and services when you create them.
3. Most interestingly, building on the advantages of your initial business model can also help you create such better costs and service options for customers that you can see any advantage to buying from your most significant competitors. The premium price that they demand is easily justified by the value-added that your improved business model brings to their operations. Clearly, Iron Mountain understands this lesson, and is using its business model development expertise to build what will someday be an enormous company with very high market share.
4. Can this process of constantly improving business models ever stop? No. TriQuint’s approach to constantly seeking more specialization by focusing its divisions into smaller and smaller sets of problems is a good model here. Even that fine approach will probably require reworking in the future. For example, at some point, the company will probably have to address how to take its customer knowledge and apply it to designing components using other semiconductor technologies. Plus, extreme narrowing of focus may eventually mean that optimization across the customer’s total systems needs will be lost into fragmentation unless divisions become very good at teaming up with one another.
5. This challenge is exciting because greater opportunities for creativity and success are constantly being opened, like doors along a never-ending hallway of success. Unlike most areas in life where more is less (like eating too much), building these business models, building on them, and rebuilding them seems more like designing and filling an expandable museum of new wonders. Each new attraction draws your attention, and the mass appeal of them all keeps you in close touch.
Are you convinced?
After that, be sure to start by making a business model breakthrough and then build on it!
Copyright 2008 Donald W. Mitchell, All Rights Reserved
About the Author
Donald Mitchell is chairman of Mitchell and Company, a strategy and financial consulting firm in Weston, MA. He is coauthor of seven books including Adventures of an Optimist, The 2,000 Percent Solution, and The Ultimate Competitive Advantage. You can find free tips for accomplishing 20 times more by registering at: www.2000percentsolution.com
Jeep EVs : What do you think of the plan? Would you consider buying one? Will a stock model be Rubicon ready?
JEEP Electric Vehicles … what’s your opinion?
https://www.chryslerllc.com/en/innovation/envi/specs/jeep_vehicles.php
They project 400 miles on 8 to 10 gallons of gas – so they won’t be 100% electric of course.
Any and all thoughts – would you want one?
will they been “green” enough?
will they be Rubicon Trail ready out of the box?
will it not happen because Chrysler won’t even be in business?
how much higher will the price be compared to a traditional model?
would you buy one in year two after the “bugs” are worked out?
will they use lighter weight, ‘cheaper’ components?
You tell me what other questions YOU would ask !
Thanks.
The first question would be why not put the gas powered generator in a separate trailer because on a jeep it would look like a happy camper. The Aptera is an all electric three wheeler and they want to put a gas powered generator on it too. Another question would they have two models for a choice. One all electric and the other hybrid. I think telsa is trying to put a gas powered generator on one of the models they make too. The jeep ev looks like the most common model of the three mentioned to choose from.
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