Introducing BIF’s Design Methodology for Next Practices and New Business Models

A successful business model is like a shark that has to keep moving to stay alive. But how do you make sure you’re not stuck in a crowded swim lane with declining margins, swimming upstream against disruptive currents, or even worse, find your organization dead in the water? A growing number of institutional leaders tell us that their current approach to innovation isn’t working. Inertia and culture are getting in the way of what’s next. The job-to-be-done for institutional leaders is to explore, test, and commercialize next practices and new business models. R&D for new business models is the new strategic imperative.

A next practice is a new and improved version of a capability or group of capabilities. It has the potential to transform customer experience promising a better way to deliver value. A market-tested next practice can either be integrated into today’s business model or be leveraged independently to enable entire new business models. Since its inception twelve years ago, Business Innovation Factory (BIF) has been developing and integrating the next practices of human-centered design, rapid prototyping, and storytelling/engagement into all of our client project work. These lynchpin capabilities now enable us to deliver on our value proposition: BIF helps institutional leaders make transformation…