Reinvent Your Business Model

8

Implementing the Model

The characteristic of scientific progress is our knowing that we did not know.

—Gaston Bachelard

A great business model blueprint is a powerful first step toward seizing your white space. But a theoretical blueprint can’t be turned into a working business in one leap. A working business must be the culmination of a process of controlled experimentation that proceeds in small steps. Hypotheses are put forward and tested, and the lessons learned are used to make necessary adjustments as you go forward. In this way, you will discover if the new model won’t work in practice or how it needs to change so that it will work before you put very much at risk.

This is how I use the term implementation: an effort largely focused ...