100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

(Ann) #1

78 • 100 GREAT BUSINESS IDEAS


By reviewing, rethinking, and adding fl air to existing services,
it is possible to develop successful aspects of a business idea while
replacing others with dramatic new enhancements. In this way, old
services can be reinvented, and consumers can be kept longer and
sold more.


The idea


Innovation doesn’t have to be all about invention. A healthy dose of
reinvention can drastically alter a market and change customers’
expectations. By analyzing familiar operations and experimenting
with and improving the formula, it is possible to radically alter key
areas of the business model while still maintaining core aspects of
the formula’s original appeal.


This spirit of reinvention is evident in a project by the Vauxhall-
sponsored group of experts in style, design, and technology—known
as the VX Collective. The creative collective is aiming to create
the “service station of the future”—a roadside stop that provides
environmentally friendly fuels, gourmet food, and attractive interior
design. This marks a clear departure from traditional UK roadside
service stations, visited mainly for their “greasy spoon” food outlets
and restroom facilities. While the VX Collective is taking a distinctly
fresh look at this formula and aiming at a broad customer base, it
is maintaining the key aspects of the business model: occupying a
busy roadside location to provide refreshment and fuel to travelers.


Although this project is still in its early stages with many practical
hurdles to overcome, it highlights the idea that a new approach


33 Reinvention

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