The original Business model was straightforward. It was about profit and building a business. The Mill owners of the Industrial Revolution had a simple focus.
Over the years other elements have impacted upon that business model - employee rights, consumer protection, international laws, environmental concerns, government interventions of all sorts, corporate social responsibility, exchange rates, global outsourcing, internet marketing, health and safety, and much more.
The local business entity of the industrial revolution has now become much more complex in a global interconnected world.
Interestingly though, our concept of what business is and how it should work is still defined by that original model. In short, we keep adding on more ‘hi-tech’ features to the vehicle without really looking at the 250-year-old chassis. This cumulative approach needs disassembling.
Henry Ford used to make all his cars in black but those days have long gone. Likewise, the ‘one size fits all’ approach to business is no longer relevant. Perhaps we should be exploring many models, driven not by history but by needs, situations and opportunities – however defined.
The Internet evolution should be our starting point and not the Industrial revolution. Business is now personal. It’s time for each of us not only to think outside of the box, but to get out of the business box and build new containers.
PERSONAL DEVELOPMENT EXERCISE
1. Business is now personal. What business are you in?
2. How do you define your model of business - making money and looking after all that you care about?