Four stages of Business Model Innovation:

 Initiation: One analyses their current business model. We try to understand our customer
better and try to create value proposition. Only implement one business model at a time.

 Ideation: The business model planned in the step above is confirmed using the available 55
business model types as discussed. Use analogies and learn from other industries.
Communicate the new business model and need for change.

 Integration: We need to check the consistency of the business model. Here, we examine all
four questions regarding organisational fit. Try to get top management commitment.

 Implementation: The final stage involves putting all aspects together and finally
implementing the output keeping in mind success factors and pitfalls.