Business Model Innovation | Put Your Lights On ...

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... 'Cause there's a monster living under my bed - Whispering in my ear ...
Carlos Santana - Put Your Lights On

​​A while ago, I had a refreshing and insightful conversation with a customer who happened to be the editor of a major newspaper.

He described how he sees parts of his traditional business erode through digital channels but he also welcomed the efficiencies of digital productivity for his employees. Still, the ambivalent coopetition in today’s business is reality - seizing opportunity jointly with the global digital giants on a worldwide level but also fiercely competing with them on your own home turf.

Surprisingly, there was no sign of fear or worry - where is his confidence coming from?

Probably it is both, the no fear approach rooted in the own strength and the believe, that innovation should be routine - The inventor produces ideas, the entrepreneur “gets things done” [J. Schumpeter, 1947].

... There's an angel, with a hand on my head
She say I've got nothing to fear!
​Carlos Santana - Put Your Lights On

In this context, some good learning is coming from University of St. Gallen (HSG). Their research on Business Model Innovation during the last 50 years, shows that only 10% of the revolutionizing approaches in business depend on completely new invented patterns. All other business innovation sources from existing patterns applied in new context.

Landing change is not easy but it comes down to separating tangible risk form perceived fear. Risk can be managed but fear should not prevent us from starting the innovation journey.

Closing my pleasant conversation with the gentleman, I directly asked him on his personal fear. He responded that in future quality journalism may commercially not find it´s sustainable place. However, messing with the checks and balances in our democratic societies would get him sleepless nights.

Auch der stärkste Mann schaut einmal unters Bett.
Erich Kästner