The corona crisis has caused many companies and institutions to adapt their business model. They have responded to the suddenly changing social and economic developments. Restaurants have started web shops for delivery and takeaway meals. They opened shutters and counters where you can get what you ordered by app. Churches switched to Sunday service from professionally furnished studios with multiple camera angles. The most original initiatives were developed to continue performing during the pandemic.
Indeed, a good time to innovate is when your company is hit by a crisis. The other innovation moment is when the organization is doing well. Even before the saturation phase, every company should start working on innovation. My advice is to analyze your business model every two to three years. I notice that many entrepreneurs are looking for adjustments from a too narrow perspective. A structured analysis helps to look at your model from surprising angles.
For example, using the Odyssey 3.14 method, I took an educational publisher step by step into the process of business model innovation. Together we worked out the three pillars and brainstormed about the 14 directions that the method offers. By adding or eliminate elements to the existing business model, a completely new industry has been created for this client for a new market. This allows the publisher to grow further in the coming years.
If you also want to get started with new ideas, don’t wait for the next crisis! Make your ambitions concrete. Take time to get to know the world around you, talk to customers and non-customers and listen to their needs. Set up your value chain and see what you could change for each part. Especially in times when things are going well, there is nothing more fun than innovation!
Picture: Michelin star restaurant Rijks starts with takeaway meals
3 thoughts on “Innovate when things go well and in times of crisis”
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