Great HBR piece, When Business Models Trump Technology, shows how one Israeli firm, Netafim, figured out how to think beyond the product it made (drip irrigation equipment) in order to offer a sophisticated—and much more appealing—service its customers actually wanted. This is a big theme of the book around the Ten Types of Innovation framework I’ve been working on recently. Fancy products are all well and good, but they’ll never provide the competitive advantage a company really needs for scaled, sustained success. Instead, by developing a smart business model and service its customers actually wanted (quelle idée!) this company has been able to survive and thrive. Good case study.
[Story via Saul Kaplan.]