Have You Reached the Limit of Your Business Model?

Filed in archive Writing a Business Plan on June 4, 2007

Your competition is not the guy down the street. Your competition comes from the "business model" of the guy down the street. This distinction is significant.

Reinvent, Reinvent, Reinvent

In retail the key factor contributing to your success was Location, Location, Location. In the last few years marketing success was influenced by Positioning, Positioning, Positioning. Those things are still important but not nearly as crucial as being able to reinvent yourself.

Reinvent or Die

You think I am being dramatic? I say I am being a realist. I watched when interest rates hit 21%, everyone hunkered down to 'survive' - well most died. Since that time we have seen how the Internet has reinvented communications, information delivery, and e-commerce grows each and every year. Electronic U.S. tax returns are increasingly being done by accountants in India.

Global markets, brought global competition. Books like, The Tipping Point, The World Is Flat, Made to Stick are all the rage but if your business model is broken nothing will help except a total reinvention.

It's Not The Driver it's The vehicle

You are the driver of your business, the business is the vehicle. No matter how hard you try to drive a worn out old 'vehicle' aka business model it eventually slows down or quits.

If your business is sick, sales and profits are down, marketing and advertising not working like it once did, you find yourself wondering how to turn things around, it might just be that you need to reinvent the business model.

Anything goes, be unorthodox, as long as you understand the customer and your business model works.

Greg Balanko-Dickson
Become a Remote Control CEO

Live Large! Because things are going to change whether you change or not.