Megan Beck joins 33voices to discuss how to survive and grow in the age of digital business models.
The Promise of a Network Business Model
The most innovative ideas emerging on the technology scene today aren’t necessarily sexy products and cool designs; more and more it’s in the way these modern businesses are being commercialized. The shift to digital has not only changed all the rules of business, more importantly, it has ignited the type of business model ingenuity that reshapes established industries and gives rise to new, more nimble ones.
There’s no questions that in the 21st century, the advent of digital networks will disrupt business as we know it because as Barry Libert (@barrylibert), Megan Beck and Jerry Wind so masterfully articulate in their book, The Network Imperative: How To Survive and Grow in the Age of Digital Business Models, “the driving force behind this accelerating change is a shift from tangible to intangible, physical to digital, and firm-based to network based business models.” It’s impossible to argue the efficiency of a network model, still they require careful execution and strategic oversight.
In their book, Libert, Beck and Wind highlight 10 strategies that will help accelerate your transition, and as you’ll learn from my conversation with Megan, it starts by asking yourself a different set of questions.
Here’s a sample of what we discuss:
The evolution of network models
The network orchestrators and their impact
The four business models
Creating digital capabilities — moving from tangible to intangible assets
Turning your customers to contributors
The shift from employees to partners
The mindset imperative to shift from a closed to an open environment