Growth Innovation for Existing Businesses with Alex Osterwalder

Welcome to the What's Next! podcast with Tiffani Bova. This week I speak with Alex Osterwalder. Alex is a speaker, the author of Business Model Generation, and is the co-founder of a software company. He is, according to his website, "Obsessed with making strategy innovation and entrepreneurship simple, practical, and applicable." THIS EPISODE IS PERFECT FOR… anyone who is looking to design an organization focused on innovating for growth. TODAY'S MAIN MESSAGE… To understand the complexities of running a business, you can't view the company through the lenses of antiquated spectacles. You need more than that — you need a team who can see how all of these puzzle pieces fit together to create unity. One company. One shared vision. Once you have those glasses adjusted, you can imagine ways to reinvent the business model without creating chaos across the company. If you do it right. Innovation goes further to improve the long-term health of a business more so than being efficient or sustaining what already works. Growth innovation, which either will make the old business model obsolete or will be a catalyst to creating additions to your existing business model. Growth innovation goes beyond one's current industry classification. By creating a mini-Silicon Valley within, existing businesses can grow without being distracted. They can invest in and test one hundred ideas, hoping that a handful will succeed. They can manage two separate portfolios: one for the present and one for the future. They can be both lean and agile while steady and conservative. EXECS CAN IMPLEMENT THE BUSINESS MODEL CANVAS BY… using the right tools, having the willingness to question everything in your purview and look outside your industry for inspiration. WHAT I LOVE MOST… It is possible to take an existing business and add in a dash of the entrepreneurial spirit. It's possible to think in a new direction and to focus on growth innovation. The opportunity for success is there, and it's beyond analyzing your "vision." Running time: 34:44 Subscribe on iTunes Find Tiffani on social: Facebook Twitter LinkedIn Find Alex on social: One page website Twitter LinkedIn