Two months of meetings, deliberations, and consultations have come up with the following ideas, themes which will be weaved throughout the year for my new role as Theme Champion of Business Models and Growth. I’m really excited by this project as it offers a lot of opportunity to creative and digital company business owners and has been a passion of mine for many years.
Why is there a need for this role?
It is particularly sad to watch big global giants like Kodak, who were the pioneers of digital photography, fall by the wayside. Companies are not only having to change and adapt to survive, not only having to change their products / services but their very the DNA. There is no constant. A recent study by IBM interviewed 1500 CEOs from around the world and found out that nearly all CEOs are adapting their business model; 60% are implementing extensive innovations and more than 40% are re-defining their business model to be more collaborative.
The way that companies do business is changing. They are:
being original rather than traditional
building collaboration into their business model
making immediate decisions rather than death by committee
understanding that what their customer sees as valuable may change tomorrow
simplifying processes for the benefit of employees and customers
putting people centre stage.
It is easy to wax lyrical about these ideas, but is a lot harder to implement when having to oversee the day-to- day running of the business. Adding the ‘must adapt strategy or business model’ to your 20 minute free slot during the day is easier said than done.
Who is this Theme for?
This Theme and its supported activity targets company owners and CEOs who are running successful businesses and who would like to stay ahead of the curve by seeking the latest knowledge to secure their future.
Ask yourself: how will you challenge your business model to maximise opportunity? What will be your main revenue stream in 3-5 years time? Will your current one still be as strong?
Through blogs, events, interviews and discussions, my aim is to deliver the best business model knowledge that exists to creative/digital company CEOs and business owners in a jargon free format in order that you can grow your business, move forward on your journey of adapting your business model.
I fully intend to maximise this theme group space for the purposes of learning, sharing, debate and signposting you to further knowledge inside and outside of the creative industries.
I can’t offer you a magic potion to transform your business but what I can do is show you a framework for you to start the process yourself, translate expert knowledge and share case studies of many companies who have succeeded.
Focus for the year:
After much consultation we have decided to explore the following two areas:
1. Beyond the Myths of Social Business
Social Media is impacting business models and the way a company creates, delivers and captures value. Some companies are embracing this change, incorporating Social Media into their corporate structure to develop powerful businesses that can ride through current industry disruptions. Over the last few years the term ‘Social Business’ was coined and immediately divided opinion, either suggesting it sounds like a not for profit enterprise or not understanding what it means beyond the hype. Through interviews and blogs I want to get beyond the buzz and to the substance of social business and what it means for creative companies – how you can apply it effectively to enable your business to grow. Over the last few years since the term ‘Social Business’ was first coined its usage has divided opinion with some suggesting it sounds like a term more descriptive of a not-for-profit enterprise whilst others believe it to a hype-laden rather than meaningful term. Through interviews and blogs I want to get beyond the buzz and to the substance of social business, what it means for creative companies and how if applied effectively it can enable your business to grow.
We will be starting with the first event at Social Media Week. Join IBM, Ideo and Moo on the 15th February. You can register here to attend for free.
2. Building New Revenue Streams
Companies that have traditionally worked as guns for hire are now looking at new ways to achieve income and their competitve edge by building new products and services.
Throughout this year we will be developing a series of events to enable companies to identify new revenue streams / create new busines models via which to support their existing IP.
For both of these areas the following approaches will be key to exploring and mapping out the territory:
create a knowledge-sharing destination point for Creative Industries CEOs
contribute to Creative Industries discussions on Business Models
create events to share knowledge and bring in experts
leverage existing industry networks to encourage knowledge sharing and participation
Last but not least, working with you.