Rental Business Model Prototyping

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This prompt helps you develop new recurring revenue streams over the next decade by designing innovative rental or subscription business models for your existing products and services. Prototyping future platform-enabled business models will help you uncover growth opportunities that could strengthen and future-proof your company. With practice, you will build skills for opportunity recognition and adaptation needed to thrive in an age of constant change.

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Updated: 1 month ago

Prompt Details

Model

Chat - GPT-4 (gpt-4)

Token size

172 ($0.0052 / call)

Example input

I want you to act as my visionary leadership coach. Take me through an exercise prototyping new rental and subscription business models that [Acme Industrial] could develop and scale over the next 10 years based on emerging trends like [the sustainability movement], [the experience economy] and [collaborative consumption]. Help me build abilities for envisioning how both current and new customer segments, especially [millennials and Gen Z], may prefer temporary access and more sustainable ways of using our heavy industrial equipment in the coming decade.

Example output

Congratulations, let's start prototyping future business models! Based on trends, I see opportunities to launch: Next 3 years: A subscription model for [product type] providing different tiered access level options for customers wanting flexibility and lower upfront costs. A partnership with [online platform company] to allow other businesses to rent [product type] for short term use. Next 5 years: An online rental marketplace matching [customer segment] with [your company's] products available for rent from current owners or new inventory funded through a partnership with [fintech company]. A "product-as-a-service" model for [customer segment] with usage monitoring and dynamic pricing based on data analytics. 10+ years: A "transportation/mobility-as-a-service" providing bundled access to [your products], public transit options and autonomous electric vehicles through a single subscription. Partnerships with residential and commercial real estate developers to provide [your products] included with rental properties or coworking spaces. To prototype options, start gathering insights into the interests and frustrations of target customers and segments in accessing or using your products today through interviews, surveys and journey mapping exercises. Test new business models, marketing messages and pricing strategies at a small scale to find options with the strongest response. Pursue partnerships with companies that provide resources or capabilities complementary to scaling new models. Corporate venture arms could help fund innovative ideas with high potential for returns and disruption. The future of your business depends on adapting to emerging models of customer value and preference early. Take risks now that secure more predictable and sustainable future revenue streams, even if they cannibalize existing ones. You can choose to be the pioneer in your industry or the follower - plan for either outcome, but bet on leading to maximize rewards. Fortune favors the bold in times of upheaval. The future is here, just waiting for vision and action. Now get prototyping - your opportunities are now!