Add new types of value, not new types of costs
No puedo detenerme en sentimentalismos. El corazón es un mal negocio.
Alejandro Casona
en La barca sin pescador
Identifying which approach is relevant for the business model has huge implications for the outcome of the innovation process and the allocation of resources.
For a business model to be of value, it must have three core elements: a unique central idea that defines who you are, a grasp of future market trends, and profitability from either lower cost base or an offering that cannot be easily copied.
The secret of business innovation is to think big, act small, fail fast and learn rapidly.
Lead, Follow or Get the Hell Out of the Way
If it feels a little bit like we’re amateurs, it is because we are,” he said. “Everyone is an amateur in this business.
When you are young, you have more time than money, and LimeWire is worth the hassle. As you get older, you have more money than time. The iTunes toll is a small price to pay for the simplicity of just getting what you want.