Seizing The White Space

Seizing The White Space

Value:
7/10
Published or Updated on
June 15, 2023

High-Level Overview

Markets are born, grow, change, and die. In those dynamic changes lie white spaces waiting to be taken advantage of by those with an open mind.

Summary Notes

A business needs a proven methodology to find the "white spaces" -- the uncharted territory well beyond a company's core business.

Simplicity and elegence drive the formulation of great CVPs.

Markets are born, grow, change, and die.

4 box business model: profit formula; key resources & processes; and core metrics, rules and norms.

A company’s white space lies within, beyond and between.

Business Model Innovation 3 stages: Identifying an important job to be done (JTBD) that is poorly satisfied, Constructing a blueprint that lays out how the company aims to fulfill that JTBD at a profit, and Implementation.

Implementing the new business model is a 3-stage repeatable process:

  • Incubation
  • Acceleration
  • Transition.

Non-dog Dilemma: failure to allocate resources. All thinking stops at identification of "not a dog." Avoid this by being being more open.