Innovative business models

• Author: Isabelle De Voldere - Eveline Durinck - Jurgen Tack - Delphine Dupeux - Lucie Maret - Anne Marchadier - Marie Orban
• Profession: IDEA Consult - IDEA Consult - Knowledge & Data Mining International - European Historic Houses Association - European Historic Houses Association - European Landowners' Organization - European Landowners' Organization
• Pages: 166-183

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6. Innovative business models

6.1 Triggering innovation

This study provides an overview of existing business models used by family-owned heritage houses.

Some of them are innovative, most of them are not. It is therefore important to trigger innovation in

existing business models. This can be done making use of a number of methods. We have used the

following methods in this study:

6.1.1 Analysis for innovation

It is important to systematically invest in the strengths of an existing business model. Opportunities

have to be taken on board where possible. However, the weaknesses and threats especially give

possibilities to implement innovative ideas. In the Illustrative Practices on innovative business model

and in the Technical Sheet on existing business models, special attention is given how weaknesses and

threats can be used.

Based on the SWOT analysis, a number of building blocks for innovative business models have been

identified that foster the strengths of family-owned heritage houses to enable them to reap the

opportunities that have been identified.

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6.1.2 Strategy based innovation

Companies aiming to achieve market leadership in either operational e xcellence, customer intimacy or

product quality have to innovate systematically in the strategy chosen. For each of the case studies, the

strategy is described.

For each of the building blocks identified we have indicated how for each business strategy innovation

can be realised within existing business models.

Based on the SWOT analysis, a number of building blocks for innovative business models have been

identified that foster the strengths of family-owned heritage houses to enable them to reap the

opportunities that have been identified.

6.2 Building blocks for innovative business models

6.2.1 Anchorage of/in local community/economy

Community involvement include employment, the use of vol unteers or even the active participation of

third parties. A nice example is the Heetveldemolen (BE) where the owners are stimulating local farmers

to cultivate old grain varieties which afterward are used to produce local products, making use of the

water mill. The strong interaction with the local farmers created a local network of people connected to

the heritage house.

Giving local stakeholders the opportunity to actively participate will not only enable you to get additional

help, you will also get a free set of marketers for all of the activities you organise.

What to do if your business strategy is operational excellence?

• Make use of local volunteers

• Ask for an active participation of third parties in the activities of the family-owned heritage

house (youth movement, local organisations, …)

What to do if your business strategy is customer intimacy?

• Make a mix of local volunteers and local employment

• Ask for active participation of third parties in the activities of the family-owned heritage house

(youth movement, local organisations, …)

• Co-create activities

• Involve local stakeholders in developing new products

What to do if your business strategy is product leadership?