Wednesday, October 6, 2010

The well-built business model

I want to thank Jack Martin Leith, whose 9 September post on Linkedin both sharpened and broadened my understanding of business innovation. Jack recommends Business Model Generation as one of the "must read" books (more like a handbook, really) on the topic. I really appreciate the link to the 72-page preview because it describes "9 building blocks" of any business model and reveals the "business model canvass", which a team can use to conceptualize all the blocks together. (Think yellow post-its on white boards.) It struck me that leaders should document the outcome of this innovative process and review it frequently. I also imagined how use of the canvass could naturally expand the ability of the company's best and brightest, at many levels, to be innovative.

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