Innovation & Entrepreneurship.
We often hear these words in the world of business.
Everybody has heard the stories of Facebook, Google, Apple, Instagram and how
the entrepreneurs behind those companies lead them all the way to enormous success. Innovation was
the key ingredient behind their success, and we often hear companies name it.
But what exactly is innovation in
simple terms innovation is to create an improvement of a product, service or a way of doing things. For example: before the iPod, listening to your favorite music
was really complex you had to buy CD’s and use a Discman; another example: before Facebook the only way to know what your friends where up to at the same
time was to meet with them physically. This is innovation and it happens constantly
in many industries. Both of these concepts when used correctly can create sustainable,
efficient and profitable organizations. Entrepreneurship and innovation allow
any business to maintain a cutting edge in their market, by fomenting quick
design, iteration and mostly interaction with potential customers. The
combination of both of them gives us the Lean Start-Up philosophy, a unique way to create
new innovative businesses.
So why is it that the world of sports and especially
professional sports teams seem left behind, and don’t really embrace
entrepreneurship & innovation? In the world of soccer, teams are notorious
for having bad management, long-standing debt and for providing a not so great experience for their
fans (customers). We at Passionis want to change that, we want to help any team become
just as innovative and entrepreneurial as any technology company out there.
This could benefit the results on the pitch and off it as well. How could we do
this?
The first step is to use the business model canvas, we have to start viewing
our organization in a more organic way; it is a living entity and we have to
shift the perception that it is static, to a perception of constant upgrade. Gone
are the days of doing a business plan and believing it would work, instead we
have to use the business model canvas to create hypotheses and test them to
validate our model, experimentation has to be embraced.
For any startup it is essential to understand every part of
the business model canvas in this post we will continue to focus on the ValueProposition. The value proposition is what makes us unique; it represents what
we give to customers that nobody else can. Basically is how we make them
happy. Let us pretend we are a soccer
team and we want to use the business model canvas to turn our organization into
a sustainable, debt-ridden, profitable business, while maintaining the results
on the soccer pitch. We want to create a value proposition for our model, some
of the questions we need to answer include: which customer needs are we
satisfying? Which one of our customer’s problem are we helping to solve? And most
importantly what value do we deliver to the customer? So this is how our canvas might look like at the beginning.
We have crafted an initial value proposition: we want to
build a connection, we want to provide the best entertainment with an immersive
experience and provide related products to help our revenue. Ok this sounds
great but we need to understand if this seems attractive to our customers, we
need to bring them into the conversation to validate our theory. How can we do this?
We could use a website where we create prototypes of the products and ideas we
believe can help us deliver that value proposition. Then we interact with our
fans and we show them our minimum viable product(s) and hear what they have to
say about it. All that information will help us understand how we can serve our
customers needs and create something that makes our team truly unique.
We want to help create the best sports organizations in the
world. We want to enhance the experience for all the stakeholders in the world
of sports. At Passionis we want to help any team design, build and utilize
innovation & entrepreneurship on a regular basis. Stay tuned as we will continue to work on our business model.
Passion is our innovation!
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