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Consulting

Strategy & Business Building Consulting

Developing successful business models with the Bosch Methodology

In the global world, the Internet connects anything that is economically relevant. Sensors provide a great amount of data that form the basis of future and innovative business models and represent considerable potential for customer loyalty and revenue generation. Nevertheless, building these digital business models challenges companies considerably, as only a small percentage of previous IoT initiatives in companies are economically successful.

Strategie Business Consulting IoT Bosch Engineering IoT Business Model Builder Business Mdelling

Mr. Lücking, Mr. Haqparwar, you are experienced strategists and business model experts at Bosch Engineering GmbH. How do you support your customers?

We accompany our customers comprehensively in all project phases from the conception and validation of business ideas to the development of digital product strategies. During this process, we plan with short iteration cycles in order to be able to react to changes in an agile manner. Using lean startup principles and our exclusive Business Model Builder 2.0, we offer our clients the best possible support to make their digital business models a success. Aligning the product strategy with the actual customer needs is essential for a sustainable success of the business model. We develop prototypes and MVPs with our customers, which help to include real customer feedback already in the development phase.

IoT Business Model Builder 2.0

You are working with the IoT Business Model Builder 2.0, what are the advantages of this framework?

This scientifically based and field-tested framework, specially developed by Bosch.IO in collaboration with the University of St. Gallen and the Industrial Internet Consortium (IIC), makes the complexity of business model development in the Internet of Things manageable and ensures consistent customer centricity. The "IoT Business Model Builder 2.0" offers a variety of tools and methods to jointly identify new entrepreneurial opportunities, build value networks and develop IoT-based business models in a sound and low-risk manner.

„Even as complexity increases, we offer our partners the best possible support to make their digital business models a success.“
Dr. Thomas Lücking, Senior Manager New Business Building & Digital Business Strategy

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You were involved in the founding of two startups. What can we learn from startups?

Startups develop their business models iteratively, customer-oriented, and agile. The methods used in Lean Startup and Design Thinking, such as the Business Model Canvas and the Customer Journey Map, make it possible to create an initial, well-founded business model from a basic idea, which can then be validated and, if necessary, adapted. The methods not only serve to structure the initial idea, but ultimately also minimize the risk of spending too long developing business models that turn out to be unsuccessful.

What is a key success factor of digital business models?

A key success factor for digital business models is the creation of a value network that includes partners and not just linear exchange relationships with suppliers.

In the context of IoT in particular, a wide variety of domains must be combined in order to provide a value-creating offer for the end user. No company can manage this complexity on its own, which means that collaboration with partners is essential.

Potential partners should be integrated into the company's own value network at an early stage. For active involvement and incentivization, it is therefore essential to create a value proposition for the partner as well.

„We always make sure that we approach our partners with empathy and commitment. We master challenges together.“
Harmeed Haqparwar, Senior Manager New Business Building & Digital Business Strategy

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What makes you unique as a team?

In times of constant change and uncertainty, you need experts who have the courage to break new ground, to discover unknown terrains. It is clear to us that today's success does not have to be tomorrow's success. We as a Strategy & Business Building Consulting team are ready to dive into these unknown terrains together with our clients and to examine and rethink existing business models. Our clients also benefit from our interdisciplinary network of highly qualified IoT specialists, engineers and user experience experts with multi-layered and long-standing expertise, which we can integrate into projects as needed.

Im Fokus

Thomas Lücking Business Building Digital Business Strategy

Dr. Thomas Lücking
Senior Manager New Business Building & Digital Business Strategy

In his role, he is responsible for ensuring sustainable successful digital business models. Projects also benefit from his practical experience in the international tech scene. His previous professional stations have taken him through the telecommunications and video games industry as a strategy consultant and analyst. Thomas has also conducted research on market and innovation dynamics in high-tech industries and published practice articles on design thinking and business model development.

Hameed Haqparwar Business Building Digital Business Strategy

Hameed Haqparwar
Senior Manager New Business Building & Digital Business Strategy

His expertise includes designing and validating customer-centric business models in the Internet of Things space. Previously, he was a Product Owner at an innovative venture capital funded start-up in the insurance industry. As an entrepreneur, Hameed also gained hands-on experience in the lean startup space. He now successfully contributes his experience from the startup world to various innovation projects at Bosch.

Dr. Svenja Wagner Digital Business Strategy Consultant

Dr. Svenja Wagner
Digital Business Strategy Consultant

Svenja accompanies teams on their path to digital transformation and supports them in the development of digital product strategies, among other things. The projects benefit from her interdisciplinary experience and her inner drive to create something new in a sustainable way.

In previous positions, Svenja managed digitalisation and transformation projects, primarily in the public sector. She also worked on quantitative research projects in organisational economics (e.g. in the area of demographic challenges).

Contact

Hameed Haqparwar

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