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ITU Presents: Dr. Rod King Shares the Secrets to Silicon Valley Success

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This month saw the introduction of ITU Presents for the Fall trimester. We kicked off the new series with Dr. Rod King presenting The Business Model Yacht for Startups and Leaders.

Over 100 students registered for this month’s presentation. Students in attendance were treated to Dr. King’s discussion on his unique model for business success. He shared his valuable industry insight, and explained his business model based on lessons he learned from various masters of industry.

The fundamental concept behind Dr. King’s model is for companies to move away from crowded ‘red ocean’ market spaces, and to move towards clear ‘blue ocean’ spaces.

“The Business Model Yacht is a ‘vehicle’ that iteratively takes you from where you are: the red ocean, to where you want to go: the blue ocean,” says Dr. King.

Becoming a Disrupter

IMG_9361For Dr. King, successful firms only thrive when they have a wholly disruptive product or service. He reports that if a company has that unique and disruptive product, it can move to an open blue ocean with little competition.

An example of a disruptive product is the Apple iPhone. As the first truly embraced smartphone, the iPhone created a new market space that gave Apple an early lead in the mobile market.

A disruptive product may be the secret to business success, it’s not easy to come by. Companies like Apple took years to develop the iPhone, and then had to sell to the public on demand. During his presentation, Dr. King used the Apple example to illustrate the need for companies to truly think about their products, before heading into market.

The Product is Just the Start

IMG_9315Dr. King’s Business Model Yacht System lays out a game plan to push disruptive ideas to success. His presentation explains how to turn a product into a revenue stream.

His plan is broken down into a diagram that maps out business demands and potential obstacles. The diagram lays out a truly iterative process, that leaves room for setbacks. By expecting errors, Dr. King’s system offers companies the ability to adjust according to the creative process.

Being able to change during the development cycle is important for Dr. King. He finds that iteration gives companies the edge when encountering Big Urgent Market Problems (BUMPs).

“[The Business Model Yacht] is about simulating how workers creatively discover and solve problems. The simulated model and tool can be used by individuals as well as enterprises to deeply understand how organizations discover and solve BUMPs,” added Dr. King.

Learn More

If you’d like to find out additional information about Dr. King’s ITU Presents, check out our previous article on the event.