Business Model Transformation

Business Model Transformation (BMT) projects utilize a structured methodology to articulate business goals and values into a new and improved business model. This is often done by first understanding market gap analysis, an ideation session followed by a prototype and test before identifying the new business model roadmap. Using tools such as Business Model Innovation or Design Thinking consultants can create a structured approach to translate current business practices to serve a new market segment.

Typical Activities

A business model transformation project typically comprises of the following process:

  • Conduct market gap analysis to benchmark your business’ current performance and identify opportunities
  • Generate ideas to leverage market trends and opportunities
  • Identify and validate those ideas through the creation of new business model, products and/or services
  • Development of prototypes to test concepts
  • Development a roadmap to implement those ideas and tap on potential growth areas
  • Activities that helps promote innovation within your company

Non-supportable Activities

  • Mass production of prototypes and website coding
  • One time feasibility study without supporting activities
  • Operational purchases not related to the project