These days when you scroll through your feed on social media, you cannot help but notice the number of musicians and DJ’s who are Live Streaming mini-concerts. Over the Easter weekend, my family and I tuned in to watch Andrea Bocelli perform live at Duomo di Milano. Two and a half million people joined the stream to watch the 25-minute live performance. Within 24 hours, the performance had been viewed over 30 million times.
The coronavirus pandemic has opened many eyes and caused us to see flashbacks from presentations over the last decade. Proposals to change the way we operate like going digital, paperless, meeting virtually, and being present where our customers are have found themselves buried in the PowerPoint graveyard.
So, what is Business Model Innovation anyway? Think of a business models as a recipe to make your favorite dish. Let’s say you love Biryani. Your business model is all the ingredients you put together to create that wonderful dish.