Make More Of It

Leveraging assets and know-how to generate additional revenue streams

Make More Of It Business Model Pattern

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The “make more of it” business model pattern, which involves leveraging existing assets and know-how to create value beyond the company’s core offerings.

What is the Make More of It Business Model Pattern?

Make More Of It Business Model Pattern

The make more of it business model pattern is a strategy where a company utilizes its existing resources, such as knowledge, expertise, or physical assets, to generate additional revenue streams beyond its primary products or services. By offering these assets to other companies or industries, businesses can create supplementary income and maximize the value of their resources, particularly those that may be underutilized or “slack” within the organization.

Why is the Make More of It Business Model Pattern Important?

The make more of it business model pattern is important because it offers several key benefits for businesses:

  1. Increased Revenue: By monetizing existing assets and know-how, companies can generate additional revenue streams, diversifying their income sources and reducing reliance on a single product or service.
  2. Optimal Resource Utilization: This model encourages businesses to identify and leverage underutilized resources, ensuring that all assets are being used to their full potential and contributing to the company’s bottom line.
  3. Synergies and Partnerships: Offering assets and expertise to other companies can lead to valuable partnerships and synergies, opening up new opportunities for collaboration and growth.

Impact on the Business Model

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The make more of it business model pattern primarily affects the following aspects of a company’s business model:

  1. Key Resources: The company’s key resources expand to include not only those directly involved in creating the core value proposition but also any underutilized assets or expertise that can be offered to other companies.
  2. Revenue Streams: In addition to the primary revenue generated from the core offerings, the make more of it model introduces new revenue streams from the sale or licensing of existing assets and know-how.
  3. Key Partners: The model may lead to new partnerships with companies that can benefit from the business’s assets or expertise, creating opportunities for mutual growth and collaboration.

Trigger Questions

  • What unique assets, resources, or capabilities do we have that could be repurposed or extended to create new products, services, or markets?
  • How can we identify and prioritize the most promising opportunities for leveraging our existing strengths in new ways?
  • What investments or adaptations do we need to make to our business model, operations, or technology to support these new initiatives?
  • How can we test and validate the market demand and feasibility of our “make more of it” ideas before fully committing?
  • What partnerships or collaborations can we explore to accelerate and amplify the impact of our “make more of it” efforts?
  • How can we measure and communicate the value and ROI of our “make more of it” initiatives to stakeholders and customers?

How to Implement the Make More of It Business Model Pattern

To successfully implement the make more of it business model pattern, businesses should follow these steps:

  1. Identify Underutilized Assets: Conduct a thorough analysis of the company’s resources, identifying any assets, knowledge, or expertise that are not being fully utilized or could be leveraged in new ways.
  2. Assess Market Demand: Research potential markets and industries where the company’s assets could be valuable, assessing the demand for such offerings and identifying potential customers.
  3. Develop Offering Strategy: Based on the identified assets and market demand, develop a clear strategy for packaging and offering these resources to other companies, including pricing, licensing, or partnership models.
  4. Establish Management and Support: Create the necessary infrastructure and processes to manage the new offerings, ensuring that the company can effectively deliver value to its new customers without compromising its core business.

Examples of the Make More of It Business Model Pattern

  1. Amazon Web Services (AWS): Amazon leveraged its vast expertise in building and managing large-scale digital infrastructure to create AWS, offering cloud computing services to other companies and generating a significant new revenue stream.
  2. Uber Freight: Uber applied its experience in ride-sharing and logistics to create Uber Freight, a platform that connects shippers with carriers, effectively leveraging its existing technology and know-how in a new market.
  3. Philips HealthSuite: Philips, a leader in healthcare technology, created HealthSuite, a cloud-based platform that allows other healthcare companies to develop and deploy their own applications, leveraging Philips’ expertise in health data management and analysis.
  4. Google: Initially focused on search, Google utilized its data processing expertise to create Google Cloud Platform, diversifying revenue beyond advertising

The make more of it business model pattern offers a powerful way for companies to maximize the value of their resources and generate new revenue streams. By identifying underutilized assets, assessing market demand, developing a clear offering strategy, and establishing the necessary support infrastructure, businesses can successfully implement this model and reap the benefits of increased revenue, optimal resource utilization, and valuable partnerships.

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