Reinventing Business Models in Times of Crisis
Marcelo Burman is a renowned speaker, consultant and certified coach in Exponential Transformation. He shared in a Webinar about disruptive business models, and useful tools of immediate application for a company facing the COVID19 situation.
When what we did before becomes obsolete, it forces us to change. This is where we are called to be disruptive.
A small actor like the Coronavirus generates an impact on the world of disproportionate dimensions. It is necessary to reinvent oneself. For a major crisis, says Burman, it is more important to seize opportunities, with a new business model.
The first thing to know is where we stand, which changes will be temporary and which will be permanent. While many of us are on pause, it is important to take advantage of it for new skills. At the industry level it is also important to understand what is happening, drawing a map of our organization to identify what we can change. The expert recommends using a CANVAS - Digital Transformation CANVAS - which allows us to visualize the structure of the company and see what activities we can digitize.
The expert emphasizes that it is necessary to analyze new business models, because those who do not change do not survive, but let us refer to the case of Kodak or Blockbuster.
The old model that we knew as the 4Ps: Product, Place, Price and Promotion became the SAVE model. Where the product becomes the Solution, the Place becomes Access, the Price becomes Value and the Promotion becomes Education.
To conclude, the expert shared 4 key elements for the future: Adapting to reality, transforming, servitizing products and working with sustainability and social responsibility.