Day two of the Circular Business Camp was a deep dive into entrepreneurial passion and innovation. Participants explored their "WHY," ideated transformative solutions, and engaged with Agile Business Development principles. The day emphasized adaptability, resource mapping, customer value, and Circular Economy insights. A concluding lecture on The Circular Business Model Canvas offered practical guidance for crafting sustainable business models. Engaged participants and insightful discussions marked the day, promising further growth in developing innovative solutions. Stay tuned for updates as we collectively shape a more circular and impactful future.
Day Two Highlights: Circular Business Camp
The second day of the Circular Business Camp was a captivating continuation of our exploration into the world of circular business innovation. Building on the foundation laid on the first day, participants delved deeper into the essence of their entrepreneurial journey.
The morning session commenced with a reflective discussion on the participants' "WHY." We urged them to contemplate their passions and consider how these driving forces could be integrated into their entrepreneurial endeavors.
Following this, participants were prompted to consider their current solutions. We then explored instances where seemingly ordinary concepts underwent innovation with a fresh perspective. For instance, music, a well-established idea, transformed through digitalization with platforms like Spotify, allowing users to enjoy music anytime, anywhere – a classic idea revolutionized with an innovative delivery approach.
The day unfolded with a comprehensive introduction to Agile Business Development, presenting the four underlying principles guiding an agile approach:
- Starting from existing resources (Effectuation)
- To interact with target groups/environment (Loop)
- To change direction based on new knowledge/feedback from target groups (Pivot)
- Testing on a small scale continuously (MVC & pitch)
Emphasizing the importance of adaptability, we drew a distinction between goal-targeted and goal-seeking projects, clarifying that the Circular Business Camp operates as the latter, driven by a higher purpose of creating circular business models.
An interactive session followed, encouraging participants to map out their existing resources. This exercise not only jump-started their journey but also set the stage for ongoing development, recognizing that assets may evolve over time.
Post-lunch, the spotlight turned to the customer. Understanding the significance of defining customer segments and creating value for them, we seamlessly transitioned into exploring the Value Proposition Designer. This tool proved instrumental in uncovering customer needs, crucial for developing products or services that resonate with their preferences.
A pivotal group discussion revolved around the value in a Circular Economy system beyond customer value. Participants explored questions these questions:
- What value do you generate with circular business idea beyond the customer value?
- Is there missing value that you could capture?
- Is there missing value that could be captured by a stakeholder/supplier/customer?
The day concluded with a lecture on The Circular Business Model Canvas. This essential framework, coupled with examples of companies successfully implementing it, provided participants with practical insights and a roadmap for crafting their own circular business models.
In summary, day two of the Circular Business Camp was marked by engaged participants and thought-provoking discussions. The journey towards developing innovative and sustainable business solutions continues, promising even more insights and growth in the days ahead. Stay tuned for updates from our Circular Business Camp as we collectively shape a more circular and impactful future.