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The Decline Of Service Based Business (And What To Do To Transform Yours)
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Caroline Johnson, co-founder of the Business Model Company, discusses the importance of transforming business models to stay relevant and profitable in the face of changing market dynamics. She emphasizes the need for businesses to recognize the decline of legacy service-based models and adapt to more scalable and innovative models. Caroline shares case studies of businesses that have successfully transformed their models and achieved significant growth and valuation. She also highlights the role of AI in driving the need for business model change and the importance of cultural transformation within organizations. Overall, Caroline provides a positive outlook on the opportunities and choices available to businesses in transforming their models.
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- Recognize the decline of legacy service-based business models and adapt to more scalable and innovative models.
- Understand the importance of cultural transformation within organizations to support business model change.
- Explore different revenue models, such as hybrid models or project-based models, to monetize services effectively.
- Engage in a business model transformation program to create a playbook and operationalize the new model.
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