Do you want to start with a good and impactful business model from the beginning?
This is an important skill for any founder — whether the innovation is in the business or social sector. A good business models essentially has the character of a good story. It is concrete, compelling and inspiring to potential employees, customers and investors.
Unfortunately, not all innovators think in terms of stories.
Most founders cannot clearly envision their path to success.
There are several more reasons why founders and innovators often avoid drafting a business model in the form of a narrative:
- For many it is not common to write texts — PowerPoint seems to be the tool of choice.
- Some are afraid to come out with an idea too early.
- Others think it can’t be as easy as that.
Even and precisely in large companies, these problems occur. Amazon founder Jeff Bezos has become famous for his solution: The Future Press Release.
How it works? Here’s a very simple version:
Step 1: Imagine your idea is already a success.
This is important to keep the inspiration flowing.
The more concrete, the better: What product is the customer holding in his hands? How is it perceived? And how did it achieve this success? Write down what is happening in front of your eyes.
Step 2: Describe the customer’s feelings.
For many founders, the focus is on technical data.
Yet, customers desire emotions: How has my experience improved? Why is this particular innovation important? What makes me happy about the product?
Step 3: Outline the principles that led to success.
This is the most difficult and important aspect. Identify the hurdles you overcame, the important decisions, and the design principles that led to success. Bringing these types of tricky questions to the table early on will help everyone understand the true nature of the change needed.
Writing such a press release is worth the effort. There’s a good chance you’ll send it out to your community one day.