Reinventing Your Business Model

This article argues that innovating your business model is the best way for growth for companies under certain situations, and lists two problems that mean it is not done successfully:

1. Very little study has been done into business model development
2. Few companies understand their existing business model well enough

It defines a business model by:

1. Customer value proposition
2. Profit formula
3. Key resources
4. Key processes

It argues you need to solve a single job really well, not lots of jobs with less precision, and identifies four reasons preventing people from getting a job done, that can be the basis of business model innovation:

1. Money
2. Access
3. Skill (to use product/service)
4. Time