Business models for high-tech companies

I have noticed that most people see only one way of doing high-tech business: creating a product or service and selling it via one-time transactions. Just like a computer manufacturer or car producer that creates a product and sells it to a customer. However, this is just one way to monetize high-tech alongside all the other products and services that complement the high-tech offering. There are several other business models for high-tech companies that may be better options than one-time… Read more

Best documentaries explaining big business problems and frauds

In this article I list the best documentaries explaining big business problems and frauds. All of these documentaries or docuseries have a strong relation to business and economy, although some of them also feature some of our most pressing problems such social inequality and unethical use of personal data. However, for the most entrepreneurial-minded they also represent great business opportunities. Social entrepreneurship, sustainable food production as well as fraud prevention and fraud detection are just a few to mention. I… Read more

Why does the business model matter?

“You have to develop a great business model.” People keep telling this to aspiring entrepreneurs and corporate managers. But why…? Why does the business model matter so much? Or does it, really? The answer is yes, it does really matter. Of course it does. We’re talking about what exactly to offer and how to create that offering, who to target as a customer, who as a user and who as a partner. And probably most importantly, we’re talking about how… Read more

How to visualize a business model and which tool to use

Business model is what answers the question about how your business works and how you make money. Explaining this can be difficult if you are not sure where to start. In one of my recent articles I show how to answer the question “What’s your business model?“. The article can help anyone to give an answer that makes people listen and ask more questions. But what if your counter partner wants to know what your business model looks like? Or… Read more

5 business model innovations you should know about

Business model innovations mean reconfiguring a business while it continues to deliver same products (possibly) to the same markets in a different way. Technology, such as the Internet, plays typically an important role as an enabler. Oftentimes, business model innovations involve changes in the backend of the company. Such alterations are mostly invisible for the competitors and thus difficult to copy. Consequently, it is not a secret that managers consider business model innovation one of the best opportunities to grow… Read more

What is a penguin problem and what can you do about it?

Why is it that potential customers are hard to make buy from you and sign up for your service? Obviously, there can be many reasons for that. One useful way to analyze this is to consider the five attributes affecting the speed of people adopting your innovation, which you can read more about here. Another possible reason is that most people don’t want to sign up for something before they see that other people do so. This scenario is known… Read more

The chicken and egg problem in platform business models

Do you have, or are you planning to start a platform-based business? Is it a two-sided platform? That is, does it have sellers and buyers? If yes, then you are probably facing a so-called chicken and egg problem. But what is the problem and what can you do about it? What is the chicken and egg problem? The chicken and egg problem refers to the willingness of participating groups to join the platform. If the platform is two-sided, meaning that… Read more

What is a business model?

What is a business model, really? It has become a huge buzzword. If you google “business model”, you will find a substantially larger number of results than for almost any other business-related concept (let me know if you find any). In fact, the number of results is considerably higher even when compared to the results of searches such as “Brexit”, “Donald Trump”, or “climate change”. In my experience though, many people have started to use this word without really knowing… Read more

How to answer the question “What’s your business model?”

 “What’s your business model?” is a frequent question that potential investors, partners, mentors, consultants, maybe even customers, or just friends and other interested people ask managers and founders. More often than not, this happens at a party, networking event, or in a situation where you should quickly convince your counter partner. If you have a business idea, or are involved in someone else’s business, how would you answer this question? Group of diverse people are talking together In essence, business… Read more