Ascertaining the Hidden Gems in Your Business Model

Some people can be blind to the most obvious clues.

They will glare directly at vital data and simply overlook it. If you’re looking to form a hybrid business model or just overhaul your current way of doing things, you need to first devise a way to pluck the hidden gems out of your business model. Each company’s form of operational management makes this process slightly different in every instance.

As an example, Red Hat software in the mid-’90s came up with a novel way to take two business models and meld them together to create the optimal company strategy for themselves. Their idea was twofold: they would continue to sell their software for much less than the competition (Microsoft Windows 95) and they would continue to rely on service contracts to be the major source of revenue.

Instead of taking on Microsoft, which had a huge competitive advantage in terms of being a monolith in an established market, they found the hidden gems in their business model. For more information on this topic, read the full article by Roger Martin.

CA
Contributing Author

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