Business model kit.
Invented by Board of Innovation, this tool has helped thousands of corporate inventors, students and entrepreneurs to design successful business models.
What is this for?
The business model kit is a tool designed to explore and imagine different business models to support your solution.
The key to a sustainable business model is ensuring that all stakeholders in the ecosystem are delivering and capturing items of value.
Why should we use the business model kit?
Excel is not the most engaging innovation tool, isn’t? Discussions on business models often end up in total confusion. You’re talking about multiple revenue streams, tens of partners and many transactions going back and forth: it’s hard to keep all information in your own mind, and even harder is to communicate own ideas with the team.
That’s why we developed a visual tool that helps to ideate and refine business models, correct existing issues, and communicate the outcome to other teams in a simple way. Perfect for individual and team brainstorms about new business ideas, it creates clarity on value streams and stakeholders.
What’s the difference between the business model kit and the business model canvas?
For those who are familiar with the business model canvas by Alex Osterwalder, our business model kit works in perfect harmony.
- The business model kit helps to ideate multiple business model options. In particular, it raises awareness over the value exchange between stakeholders.
- The business model canvas is a perfect screenshot of an existing, established business model. We suggest to use it after the business model kit.
“If you think designing a business model is complex, difficult or boring, you must try the business model kit from Board of Innovation! It’s simply brilliant, easy and flexible at the same time. The toolkit is an amazing way of seeing and designing business models.”
Maria Ana Neves, Sintese Azul
Some of the organizations that found new business ideas with our kit
1 x Business model kit
2 x Business model kit
3 x Business model kit
4 x Business model kit
5 x Business model kit
Business model kit – education pack
How to use the business model kit?
When to use the Business Model Kit?
Opportunities to use the business model kit:
- When teams are still exploring monetization options and partnerships.
- To align a team on how the ecosystem around an idea might look like.
- To set up different revenue models to compare during brainstorm sessions.
- To present your business model to a large group.
Best when past problem-fit gate or when pivots are needed later in the process.
How do I use this tool?
- Get a physical or digital version of the business model kit and meet with the team (prep).
- Position yourself as a separate start-up and depict your organization as a client or supplier (5 min).
- Map out all the different stakeholders (10 min).
- Map out different value exchanges between stakeholders (20 min).
- Ensure that your model is sustainable by checking if each stakeholder gives and receives something (10 min).
- Challenge each stakeholder and transaction and try to imagine alternative business models or revenue streams (15 min).
- Tip: Be specific and name every stakeholder and value exchange.
- Tip: Only draw orthogonal lines between stakeholders to ensure a clear visual representation of the business model.
What's in the kit
6 stakeholders and 10 value-exchange elements to visualize your business model.
Using a common, visual language enables you to easily communicate business models to different audiences, to learn from successful models in other industries, and to quickly generate new variations and business models of the future.
That’s why the business model kit uses 16 simple icons (“blocks”) to represent the major components of business models:
- The 6 stakeholders represent the organizations/group of people/consumers between which the value exchange happens.
- The 10 value elements represent 10 major types of value that humans can exchange between each other.
Today, the next upgrade to reputation can only be found in a few sectors. In these cases, ‘reputation’ selling can be described as the essential brand experience. Typically, reputation will be placed at the top of Maslow’s hierarchy of needs, which makes this type of transaction extremely valuable to companies.
If you take the example of BMW, then you could say that some people don’t see their BMW as a driving experience but as the core values and reputation of the brand as such. Hereby, customers are able to shape their own identity with that of the company.
Active exposure or attention is the next step in the evolution of currency. People are not only offering their own attention, but also that of their peers in their social environment.
For some businesses, the spreading of their ideas and brand values becomes more important than the immediate return in money. Of course, companies can’t just rely on active exposure, so their business model should include more players and other transactions. Many start-ups and even big web 2.0 companies are still struggling with this. There is a lot of exposure and value offered to clients, but there is no sustainable business model to capture that value in revenues and profit.