#1 Don’t just think ROI. Renew business models to create value

Business Model Innovation

We help businesses create value, and communities amplify initiatives and mindsets – all underpinned by focusing on taking action.

What’s worked in the past isn’t necessarily going to push your business forward into the future. At the Scale Institute, we've spent years developing action-orientated programs to help businesses solve this kind of challenge. Our aim is to help businesses develop capability to think differently and act entrepreneurially. There’s never been a better time to step back and shift.

Startup Approach

With my colleague Dr Tim Rayner, who’s an entrepreneurial educator at UTS – we’ve created a startup approach for existing businesses to adopt. The ideology incorporates eight key levers, providing a framework to create business value by renewing your business model.

The eight facets include:

1. Knowing your most important asset is talent

2. Allowing people to act, solve and grow

3. Embracing a culture willing to fail

4. Opening up operational innovation

5. Leaning on data for decisions

6. Rethinking success metrics

7. Moving beyond monetary rewards

8. Open information = open innovation

There’s never a silver bullet to innovation and change, but my experience is to enable the right people to get involved and BRIDGE THE KNOWLEDGE TO ACTION GAP.

This is the model I’m implementing across regional innovation communities and businesses right now.

At The Scale Institute we’re passionate about helping businesses succeed. We do this through:

• Organisational transformation

• Entrepreneurial strategy planning

• Professional development, and

• Product or service management

Our model has been tested and refined with companies such as Stockland, News Limited, Hilltops Council, The Executive Connection and Westpac.

Every Thursday, whilst my family and I are self-isolating, I’m offering free 30-min consultations for people ready to act. Let’s connect for advice about how your business, institution or community can renew its business model. If you book my time, please come prepared with a draft agenda, what you want your FUTURE to look like, and some non-negotiables about your ambition.

I'll do my best to help you or connect you to people that can. You can book time with me using Calendly.

Thanks for reading, This is the first of a 5 part series on renewing business models. You can find all the content at The Scale Institute. Take care in this unstable period and do what you can to just start!

Stephen