The best business model, the best strategy, is only useful if it is implemented. In the last decade we have given dozens of keynote speeches all over the world and conducted hundreds of workshops with the leading multinational companies, young high-tech start-ups, hidden champions, world market leaders but also small- and medium-sized companies in the fifth generation. One thing they all had in common: it is much easier to talk about business models than to implement them. Reading this text and realising the potential of business model revolution is only the very first step in a long marathon, but a marathon with a big difference: in a marathon you know how many kilometres you have to run and you know that there is a very well-defined goal, but with innovation you hardly know where you are – targets are moving and finish lines seem to be vanishing. In software development, project managers systematically underestimate the last kilometre: while they believe in their self-assessment that they have reached 90 per cent of their performance, they need another 50 per cent of the time to actually finish it. Business model projects are even more challenging. Action trumps business plans. Even the best strategy must be implemented – otherwise all your efforts will be wasted. As Thomas Edison remarked, ‘vision without execution is hallucination’.

With the Business Model Navigator, we have developed a methodology that structures the process of business model innovation and encourages outside-the-box thinking, which is a key prerequisite for successful business models. Well-grounded in theory, it has proven its applicability in practical settings many times over. In order to achieve successful business model innovations within a company, it is important not only to acknowledge the importance of business model innovation, but also to implement an effective business model innovation process within the firm. This is the most difficult but also the most important step. We have developed various tools to support managers during the business model innovation process. Given the overwhelming demand for a new business model innovation methodology, the journey of the Business Model Navigator will continue. The future race for comparative competitive advantages has shifted from pure products and services to business models. Firms need to get ready for that race. Identifying opportunities is not enough; innovators and entrepreneurs have to capture these opportunities and start moving. Knowing the past will help in creating the future.

The managerial implications presented in this last part of the text should prove valuable for practitioners using this new approach to revolutionise their business model. Check out our website, www.bmilab.com, to find further checklists, our business model pattern cards, testing cards, simulations and case studies. Most companies use the Business Model Navigator as an initial stimulus for starting the journey toward their revolution. However, it is of great importance to execute and get people on board; this part is often underestimated.