How can you use open innovation to co-create your business model with a large group?

1 Define your challenge

Before you invite a large group to co-create your business model, you need to have a clear and specific challenge that you want to address. This will help you set the scope, goals, and criteria for your open innovation process, and communicate them effectively to your participants. Your challenge should be relevant, meaningful, and solvable, and it should reflect the needs and aspirations of your target market or audience. You can use tools such as the Challenge Canvas or the Problem Statement Generator to help you define your challenge.

2 Select your participants

The next step is to decide who you want to involve in your open innovation process, and how you will reach out to them. You can use different criteria to select your participants, such as their expertise, diversity, motivation, availability, or network. You can also use different channels to recruit them, such as social media, online platforms, events, or referrals. You should aim to have a large and diverse group of participants who can offer different perspectives, feedback, and solutions to your challenge. You can use tools such as the Participant Matrix or the Stakeholder Map to help you select your participants.

3 Design your process

The third step is to design a process that enables you to co-create your business model with your large group of participants. You need to consider how you will structure, facilitate, and manage the interaction, collaboration, and feedback among your participants, and how you will guide them through the different stages of business model development, such as ideation, validation, prototyping, and testing. You can use tools such as the Open Innovation Process Canvas or the Co-Creation Journey Map to help you design your process.

4 Choose your tools

The fourth step is to choose the tools that you will use to support your open innovation process, and to co-create your business model with your large group of participants. You need to consider how you will enable your participants to share their ideas, insights, and opinions, how you will capture and organize their input, and how you will visualize and communicate your business model. You can use tools such as the Business Model Canvas or the Lean Canvas to help you co-create your business model, and tools such as the Idea Board or the Feedback Grid to help you collect and analyze your participants' input.

5 Implement and iterate

The final step is to implement your open innovation process, and to co-create your business model with your large group of participants. You need to consider how you will launch, run, and close your process, how you will engage, motivate, and reward your participants, and how you will measure, evaluate, and improve your outcomes. You can use tools such as the Open Innovation Checklist or the Co-Creation Evaluation Framework to help you implement and iterate your process.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?