Classic strategy has taught us that we should ask one key question to win;  “can we make it better or can we make it cheaper?”.

With the rapid (r)evolution of online business models I believe the paradigm has changed. In many cases, we can now do both – we can create a business model that delivers a product or service both better and cheaper.

The challenge is that too many businesses are taking existing business  models and adapting them to online. Certainly a lot are getting benefits of reduced cost and they are making it easier for the customer. But most  are missing a golden opportunity to fundamentally change the business model and make it better and cheaper.

Below is a link to new reports from Deloitte on ‘The Internet of Things’ and how companies can be thinking about its use across their business and changing the business model.

Enjoy and I hope it triggers your thinking on the business model of the future.

http://www2.deloitte.com/global/en/pages/technology-media-and-telecommunications/articles/internet-of-things-ecosystem.html?id=us:2em:3cc:4dcom_share:5awa:6dcom:technology,_media_&_telecommunicationsBetter