Innovation Pill

6. Key Aspects of the Spotify Business Model

The Spotify business model and its patterns. Article on the Business Model Navigator website. Read the article: https://bit.ly/3gIEFIs [https://bit.ly/3gIEFIs] * Podcast host: Alexis Brion Gut, innovator and business strategist. Connect & Follow: www.linkedin.com/in/alexisbrion/ [https://www.linkedin.com/in/alexisbrion/] * Transcript: Spotify launched their music service already in 2008 and as of October 2020, the platform has 320 million monthly active users, including 144 million paying subscribers. Here some key elements of the Spotify business model: Spotify is a freemium service; basic features are free with advertisements or limitations, while additional features, such as improved streaming quality and music downloads, are offered via paid subscriptions. Made for Mass Customization: Spotify creates millions of playlists that are customized to the individual customers. These include for instance ”Release Radar”, a playlist personalized to the music taste of the respective user. Rent Instead Of Buy: On Spotify, users are unable to purchase individual songs or albums. Rather, they gain access to all songs on their platform for a flatrate, monthly fee. Access is granted based on the membership and not via a purchase, making music consumption more flexible for customers. Spotify operates in a Two-sided Market: it maintains close relationships not only with it’s customers, but also with a set of crucial stakeholders, the rights holders of the content. It distributes approximately 70% of total revenue to rights holders, who then pay artists based on their individual agreements. Freemium, mass customization, renting instead of buying and big revenue sharing: can you innovate and imagine these features in an another business? Read more in the Business Model Navigator website.

5. The Airbnb business model

The Airbnb business model, a case study published by Genaro Cuofano, the creator of FourWeekMBA. Read the article: https://bit.ly/2LmoFjC [https://bit.ly/2LmoFjC] * Podcast host: Alexis Brion Gut, innovator and business strategist. Connect & Follow: www.linkedin.com/in/alexisbrion/ [https://www.linkedin.com/in/alexisbrion/] * Transcript: As Airbnb tops more than $100 billion on first day of trading, I thought it would be interesting to research on their business model. The Airbnb Business Model: its a Peer-To-Peer House-Sharing Network With Fee-Based Monetization Strategy As a peer to peer network, Airbnb allows individuals to rent from private owners for a fee. Airbnb charges guests a service fee between 5% and 15% of the reservation subtotal; While the commission from hosts is generally 3%. Airbnb also charges hosts who offer experiences a 20% service fee on the total price. The digitalization that happened in the last two decades has facilitated the creation of peer to peer platforms in which business models [https://fourweekmba.com/what-is-a-business-model/] disrupted the hospitality model that was created in the previous century by hotel chains like Marriott, Holiday Inn, and Hilton. No doubt the spectacular performance by Airbnb is related to a smart business model and flawless operations. Read the business case at the FourWeekMBA website.

4. The Prototyping Canvas, a Tool for Designers and Business

Prototyping Canvas: a Design Tool for Planning Purposeful Prototypes. Published on ResearchGate by Carlye Lauff, Jessica Menold and Kristin Lee Wood. * Read the article: https://bit.ly/36YBwkw [https://bit.ly/36YBwkw] * Direct download to the canvas: https://bit.ly/3n13SAh [https://bit.ly/3n13SAh] * Podcast host: Alexis Brion Gut, innovator and business strategist. Connect & Follow: www.linkedin.com/in/alexisbrion/ [https://www.linkedin.com/in/alexisbrion/] * Transcript: Today I am sharing with you an awesome tool for design teams and business. Prototypes are not a simple design tool, they are a communication tool that allows better understanding among business stakeholders and designers. While prototypes are critical to the creation of successful products and innovative solutions, building a prototype is characterized by large sunk costs and a plethora of unknowns. The versatility and effectiveness of prototypes paired with the ambiguous nature of developing a prototype can lead to wasted resources. Recent studies support this claim, demonstrating that under certain circumstances, designers often prototype without a clear purpose, building prototypes as a function of the design process rather than as a function of the design. These findings motivated the creation of the Prototyping Canvas, a tool to aid designers in planning for purposeful prototypes by identifying critical assumptions and questions to guide development. The prototyping canvas makes designers think about: * A communication strategy for the prototype * Assumptions * Resources * Different prototyping approaches * Testing plan * And a build plan The article includes a link to download the prototyping canvas.

3. Healthcare ecosystem mapping

Healthcare ecosystem mapping: A first step to shape your market. An article published by Board of Innovation. Read the article: https://bit.ly/37KaCMn [https://bit.ly/37KaCMn] * Podcast host: Alexis Brion Gut, innovator and business strategist. Connect & Follow: www.linkedin.com/in/alexisbrion/ [https://www.linkedin.com/in/alexisbrion/] * Transcript: In this article, Nick Bogaert, managing director at Board of Innovation Americas, tells us why ecosystem mapping is a critical first step in developing an ecosystem strategy and get some actionable insights on how to go about it. Nick explains that more and more organizations are shifting from a self-centred, business oriented perspective where they ask ‘How can I create more value for the patient/HCP’ towards a more collective perspective where they ask ‘How can we create more value for the patient/HCP?’ and ‘How can we optimise our ecosystem?’. An ecosystem map provides business stakeholders with a holistic overview of the different stakeholders and their internal relationships that together make up the ecosystem in which they aim to operate. Nick spots three important benefits of ecosystem mapping: 1. Alignment, because you will be collaborating to create this mapping. 2. Spotting partnership opportunities, as you draw relationships. 3. Understanding patient/HCP perspective, as you will be placing them at the center of the ecosystem map. The article includes a link to the free Business Model Kit tool used to create this healthcare example. * Music by Mezhdunami [https://pixabay.com/users/mezhdunami-12153402/?tab=audio&utm_source=link-attribution&utm_medium=referral&utm_campaign=audio&utm_content=1201] from Pixabay [https://pixabay.com/music/?utm_source=link-attribution&utm_medium=referral&utm_campaign=music&utm_content=1201] Cover photo by Gradienta [https://unsplash.com/@gradienta?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText] on Unsplash [https://unsplash.com/?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText] Disclaimer: I only share articles publicly available on the internet and from sources offering social network sharing.

2. The Innovation Project Scorecard

How Do You Score Innovation Projects? Is an article published by Strategyzer. In this article, Tendayi Viki, associate partner at Strategizer, presents an innovation project scorecard developed by the famous innovation agency. The Innovation Score Card evaluates projects based on Strategic fit, Opportunity and Risk reduction. Read the article: https://bit.ly/3lQH19e [https://bit.ly/3lQH19e] * Podcast host: Alexis Brion Gut, innovator and business strategist. Happy to connect: www.linkedin.com/in/alexisbrion/ [https://www.linkedin.com/in/alexisbrion/] * Music by Mezhdunami [https://pixabay.com/users/mezhdunami-12153402/?tab=audio&utm_source=link-attribution&utm_medium=referral&utm_campaign=audio&utm_content=1201] from Pixabay [https://pixabay.com/music/?utm_source=link-attribution&utm_medium=referral&utm_campaign=music&utm_content=1201] Cover photo by Gradienta [https://unsplash.com/@gradienta?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText] on Unsplash [https://unsplash.com/?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText] Disclaimer: I only share articles publicly available on the internet and from sources offering social network sharing.