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10 Realities About Business Models

The NEST Learning Thermostat is a great example of the type of typical business model disruption that we are going to witness through the next decade!

Give it a few years.

You won’t even recognize the industry you are operating in.

That’s because the rate of business model change is accelerating in every single industry. Here’s why:

  1. Right now, there are probably a bunch of really smart people figuring out to disrupt your business model
  2. If you aren’t busy thinking about to disrupt your business model, they most certainly will.
  3. They’ll probably do this sooner than you think they will.
  4. The result is that 10 years out (or less), your business model will look nothing like it does today.
  5. Those that do mess up your business model are quite likely to be younger than you; for many folks, age provides complacency.
  6. The fundamental change to your business model driven by this younger generation will be the result of digital, smart, intelligent, location-oriented technology.
  7. They’ll use this technology in such a way they’ll come out of left field with a business model idea that you’ve never even thought of before.
  8. Their business model will carry an undeniable ‘coolness factor’ that you can’t simply match.
  9. Most likely, you’ll discount the importance of their innovation, until it is much too late.
  10. The result will be dramatic change : such that perhaps 1/2 of what you sell right now won’t exist in 5 years, and 1/2 of what you’ll sell in 5 years doesn’t exist now.

Examples of this type of disruption are occurring all around us right now.

Simply take a look at the Square credit card reader for the iPhone, or the NEST Learning Thermostat. The future belongs to those who are fast!

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