Hack my (Business) Model

Each development challenges the established order and embodies new ways of thinking and acting 

Heck yes, it’s definitely the age of digital disruption, with new technology as the engine behind radically reinvented business models. Or should we say just “models?” Clearly, disruption has hit the ways supply and demand meet in the open market place. But with a growing grasp of the digital world, we see that the impact of disruption goes way beyond business models. It includes governance, processes, traditions, and behaviors. This is a tall order for solution designers: their creations have to be game changers with a measurable contribution to the permanent digital transformation companies undergo.

WHY

  • After automating the existent and reengineering processes, digital solutions become the agents of disruption, affecting enterprises that either seek disruption or are submitted to it. As such, digital solutions are actually digital transformers.
  • Disruption started with “hacking” business models, driven by the radically changed and constantly changing expectations of digital consumers to start a dialogue, buy, and receive services in the ways that suit them best.
  • But business models are just the beginning: the digital revolution penetrates deep into an enterprise … no domain, no rule, no governance, and no mindset escapes it.
  • With the huge, but largely unexplored potential of AI, new opportunities arise to reinvent products, services and business models. An “AI-First” perspective challenges everything, including what was considered a given only yesterday.

WHAT

  • The decision to invest in digital solutions has to take into account a new parameter: the measurable disruption a new application will cause. Investments that protect, solidify, or embellish the established order are no longer worth it.
  • Don’t forget that not only business but also IT have to transform – cannibalizing both sides’ traditions and institutions, and creating new common ones.

HOW TO

  • Keep hacking business models. Too many outdated approaches are still intact. After disrupting customer relation business models, think of client relations as business models: write the scenarios and scripts of the new roles in your digital ecosystem.
  • Then, hack your other models. Revisit employment to give digital employees and freelancers the workplace they want. Rethink R&D to open it up, attach umbilical cords to your connected products, think twins for service, flex your budgets, report the future …
  • Finally, hack behaviors. Use the new solutions to change mentalities and design new partnerships.
  • Dare to explore the unthinkable, think AI first – even (or especially) if it might render your own present role redundant.

SO WHAT

  • “Hacking” as an activity may sound destructive to some, even if it echoes the vagaries of digital life. Luckily, this design principle does not stand on its own. It will work best in harmony with the others: by all means hack, but make sure your Corporate IQ increases while doing so. Hack, but make sure your Trust balance profits from it. Hack, but make sure your Story sounds constructive to your customers, clients, and partners.
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