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The primary value of a new business model is, of course, the monetary return. However, there are many other values, such as security for the future, resilience to change and diversification.

A new business model can also be digital or take place in the digital space. In fact, these models are usually particularly scalable and profitable. Advice can also be provided digitally, e.g. through product finders or online training/courses.

I personally regularly practise putting values into words. It is often difficult enough to identify values and consider them separately. For example, the value for the customer can vary subjectively depending on the situation (see last week's impulse). Performance, product benefit and value are often mixed up, but they differ:

Using the smartphone as an example

e.g. making calls, sending messages, surfing the Internet
Product benefit: e
.g.long battery life, high speed
Value: communication and access to information, accessibility, security

Situationalvalue: getting lost in the desert (with cell phone reception)

Follow-up questions

Are customers prepared to pay money for this individual added value? How could this value be increased through data or information? What should this digital space look like?

What place does your company have in the world of TOMORROW?

What place does your company have in the world of TOMORROW?
How do you inspire the customers of TOMORROW?
What place does your company have in the world of TOMORROW?
How do you conquer the digital markets of TOMORROW?
How does your company still create value TOMORROW?
How do you transform your business model for TOMORROW?

MORGEN helps managing directors with the right questions to transform their companies.

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We ask the right questions

Our workshop card set includes a selection of around 50 cards with impulse questions on the topics of sustainability, digitalization, values and customer centricity, which you can use to work on new business models. You can find more impulse questions in our digitalization tool MORGEN People.

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