Reverse Engineer Your Competitors

Posted by in Business Model Development, Featured, News/Blog

Reverse Engineer Your Competitors

Ever wished you knew just how that pesky other <insert your industry here> business was doing so well?  Or perhaps you would just like to understand potential customers better.  Or you just want to unpick and understand great companies?

If you can do this, it just may give you the insights you need to understand how to kickstart your own business into the success you’ve been seeking.

Take a look at  how Business Model Alchemist, Alexander Osterwalder is collaborating with his readers (yes I’m a fan) to see if he could work out how Facebook could really be worth $50 billion.  It’s one way to get the whole essence of a business model on one piece of paper.  I’ve been using this approach for several months now and find that after a little practice, and a little facilitation from yours truly, it can be applied to pretty much any type of organisation in 7 steps:

  1. Pick your arch rival (or most-needed client)
  2. Use Business Model Generation (buy here or download a sampler here)
  3. Gather a team of interested parties (ceo, marketing, sales, finance ; or just you..)
  4. and see if you can generate their business model.
  5. Compare it with your own
  6. Gather insights
  7. Refresh your business

Give me a shout and I can give you some hints and tips to get you through this, or arrange an initial free starter session.

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