
Finding the right business model is never easy, especially not for young companies. After all, there are so many factors that determine whether a new product or service will succeed. Yet it may be possible to identify success factors, which reduces the uncertainties for companies and their stakeholders, such as governments that want to stimulate innovations.
The actual environments that new companies operate in are often enough quite different from what they imagined. They even may change as the company enters the market. One company that researcher Kasia Zalewska-Kurek recently spoke to started by renting out devices with a touring app for hiking and cycling enthusiasts. Its business model was challenged when smartphones became widely available. People no longer required a dedicated device, just the app. Smartphones usually have GPS on board, which changes the way tours can be offered. The company found their customer base shifted from dedicated enthusiasts to families, and that there was a demand to provide information about hotel services with the app. By adapting the company survived.














