Module 5: Business Modeling
Business Model Framework
Why should you use this Business Model Framework?
- Gives insight into what you can do inside your organization to tackle a specific problem
- Reduces complexity and improves communication when developing a business model
- Provide scaffolding to direct innovation practices
- Give inspiration for where to begin and a process to follow through to get to a solution for your business
- Both startups and established companies can take advantage of frameworks to foster business model innovation
What is a framework?
A Framework is a set of assumptions, concepts, values and practices that constitutes a way of view in reality. In innovation, frameworks can be a tool to provide further insight into a problem and help reach a solution.
How can you apply Business Model Frameworks?
This is an overview of how you can explore and use some of the business model frameworks discussed in this module.
1. Learn about your options.
Refer to the Module 5 methods cards on the Business Model Zoo™, Business Model Navigator, and the Business Model Canvas frameworks to understand how each framework can be used or refer to the descriptions below.
- The Business Model Canvas is useful for visualizing all elements of an existing or potential business model. It can be effective for startups looking to develop their business model for the first time. The Business Model Canvas can also be an effective way to articulate the business model of an established company and reach consensus with your team.
- The Business Model Zoo™ can provide you with high level insights on your existing business model. It can be helpful if you are a startup trying to learn more about how to develop a successful business model or an established company looking to better understand the potential strengths and weaknesses of your business model.
- The Business Model Navigator can provide a wealth of inspiration as well as ideas to challenge your existing assumptions. This can be helpful for a startup beginning to learn about what types of business models they could use for their venture as well as an established company to introduce new business model ideas that can spur innovation.
- Learn more in depth about business model frameworks by reading books like Business Model Generation and Business Model Innovation Strategy.
2. Define your starting point and goals.
- Evaluate your starting point by performing a Business Health Check to understand what stage of business model development you are in and what aspects of your business model need improvement.
- Use the results of a Business Health Check to define with your team what your goal is at the moment.
3. Choose a framework.
- Business Model Canvas
- Business Model Zoo™
- Business Model Navigator
4.Understand how to use the framework.
Consider how you will use these frameworks in your Business Model Innovation process.
What’s Up Next?
Perform a Business Model Health Check or dive into one of these frameworks.