- Written by Jayant
5 ‘V’s – Powerful Business Innovation Models Which Help You to Shift Left.
A business that starts from a principal & code of honor like Trust, Transparency, Integrity, Accountability, and Customer focus has always been successful. Be it big brass business like Tata (Taj group), Birla (Pantaloon), or the modern business-like Freedom Internet lifestyle, Agarwal Packer and mover or Bada business always run their business with ethics and mission first.
A successful business model is one that gives values beyond customer expectations. He creates business considering customer in the core, understands their pain & gain, and helps to relieve their pain or helps to meet their goal. All value proposition is offered based on the customer journey.
These business models first work on sustenance and scale up their business by increasing reach to the customer. More focus upon sales and marketing, customer network, and their network. They co-create the product & services and share their profit.
Today’s customer has multiple choices. The business model, which is flexible and offers tailor-made products and services is highly successful.
These business model quickly manages the variety by standardizing their base product and quickly changing the products by putting add-on features.
McDonald’s, Pizza hut, KFC are some of the examples, who manage variety with business principles.
A successful business model is one who moves fast rather first towards their goal.
This model works upon the Blue ocean strategy.
Reliance a big conglomerate, always run with speed and new technologies.
Therefore looking above facts, it is evident that business model which have one and more facet of these attribute will be successful and hack the business from the rest of the world.