What keeps Entrepreneur up at night?If its not any enterprise’s ability to streamlined operation & lower cost, its their team have the vision to see the future opportunity & the flexibility to pursue those opportunity faster & more profitable than competitors.
Every enterprise aim to improve their performance every day, but many cases, doing business is not enough. Bold, game changing move are more risky. However, Many enterprise start rethinking about their business model. But start facing many challenges like lack of cash flow, capability and customer goodwill to turn thing according to new business model.
But Business Model Innovation(BMI) is a bigger capability that can change the complete concept of any enterprise. BMI involve changing multiple component of a business with new goal of redefining how enterprise operates & deliver value. In many scenario, looking beyond from own’s sector can provide new insight, motivation & inspiration to build up New Business Model for exiting enterprise. Private Sector company can look & learn much from the Social Sector Enterprise because Non-Profit enterprise frequently reinvent themselves(Business Model) in the face of significant challenge & Constraints.
The Challenge that Non-Profit enterprise faced & tackle can be enormous. Whether they are empowering the Youth(YPY), working on Social Intervention & Innovation(IFN), providing best option for Sauchalay by Shulabh & Cloth distribution By GOONJ. The Best Non -profit organization continually rethink & Innovate the business model & continuously focus how pursue their mission & achieve impact. Non –Profit enterprise believe – Necessity is the mother of reinvention.
Successful business model innovators typically progress through four Steps:
Uncover opportunity, Convert idea into business model, Prepare & test the model, Scale & iterate if needed re-innovate. Nonprofit Enterprise, despite the fact they focus on program model then business model but mostly follow the same way. Based on BCG & Mckinsey research with social sector enterprise , draw a diagram – Four stage of Business Model Innovation. Its completely based on Non – profit enterprise re-invented their program model with basic fundamental ways.
By: Abhishek Singh