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67: Successful Business Model Change with Caroline Johnson - the journey from Service to Value
Nov 26, 2024
Caroline Johnson, Co-Founder of The Business Model Company, specializes in transforming business models for creative agencies. She dives into the pitfalls of the 'all-you-can-eat buffet' service model and advocates for a shift towards value-driven strategies. Caroline emphasizes the blend of creativity with commercial thinking to foster innovation. She also discusses the importance of leadership commitment in embracing change and offers practical insights on client engagement and rethinking pricing to enhance agency value.
01:05:52
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Quick takeaways
- Transitioning from a service-driven culture to one centered on value creation allows agencies to differentiate themselves and enhance profitability.
- Combining creativity with commercial thinking is essential for long-term success, enabling agencies to align their offerings with client goals.
Deep dives
Evolving Business Models in the Creative Industry
Creative agencies need to evolve their business models to remain competitive in an increasingly commoditized market. The traditional approach of equating value to effort and internal processes has led to a lack of differentiation among agencies. By transitioning from a service-based model to one that emphasizes value creation, agencies can command higher valuations that reflect their creativity and innovation. This shift requires adopting new commercial practices that align their offerings with market needs and client goals.
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