Reinventing your business model

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REINVENTING YOUR BUSINESS MODEL

I`m working hypothetically in a video store that the only thing that makes to offer value to this consumers is that the main product that it works with is classicmovies, movies that anyone in the city has, but you have to know how to operate such has advantageous quality. I see how the four elements of Reinventing your business model are praying and screamingfor a change but is necessary to make some research and marketing investigations to know who to introduce a new model to the market to be successful
I have to be aware of all markets, consumers,politics or even environmental changes and evolutions that may exist, you have to know when is needed and indispensable to make changes in your business model, because is important to know the companiesshould not pursue business model reinvention unless they are confident that the opportunity is large enough to warrant the effort[1], But if you`re conscious that all the changes that you have in mindas significant as they might be are needed to all the four elements of your current model, it could be a huge mistake if you don`t do something about it. Once I knew the importance of making changes onthis business model, I start to work in the possibility of making NOT a Video Store where you can rent movies, otherwise creating a cultural center specialized in teaching y exhibition of music andcinema, a place where you can learn and see/listen classic movies and music, it`s possible because of a great four generations collection of movies and audio files that almost anyone in this countryhas
The four elements that you have to be sure to changer are first the Customer Value Proposition that is basically that thing you do that makes you different from your competitors, what makes youbetter than they, the second is the profit formula that is based on de revenue of you business, cost structure, margin model and resource velocity; the third would be the key resources, those...
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