Experimentation Rather than Turnaround

Abstract

In this chapter, we discuss the role of experimentation on the path toward new business models. Redesigning a business model is not done overnight, and it is wise not to risk everything on one endeavor. To succeed with business model innovations, companies need to conduct controlled experiments on their business models, in order to uncover what works and why. In that way, they can increase the likelihood that the business model will be successful when it is finally implemented in the entire market.