The Art of Opportunity

Chapter 3

Now that you have identified your opportunity, how are you going to seize it? As we've discovered in the previous chapter, the world has no shortage of great ideas, and opportunities abound. But only those willing to put in the time to master the art of opportunity—Steve Jobs, the Wright Brothers, and others—dedicate themselves to the unglamorous reality of hammering out how they'll deliver on their great idea or opportunity. Why? Quite simply, it's hard work.

This chapter is dedicated to helping you seize your growth opportunity. We will identify the elements of your growth strategy needed to tap into the dormant growth potential of your least satisfied customers and unexplored noncustomers. We will help you be the architect of a successful new business. We'll show you how to craft your strategy.

The Elements of Your Strategy

While Traditional Strategy would have you focus on products and services, strategic innovation means you will carefully design your strategy as the elegant combination of the following three parts:

1. Offering: The mix of products, services, and the customer experience.
2. Business model: The way you operate and the activities necessary to do business.
3. Revenue model: Where the money will come from, how you set prices, and how payment is done.

Although the three parts of your growth strategy are presented in a sequential fashion in this chapter, ...