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

100 GREAT BUSINESS IDEAS • 79

and new style can breathe new life into an old and long-established
formula.

In practice

• Decide exactly which aspects to keep and what you want
  to change.


• Decide whether you wish to alter the formula to appeal to a
  new target market, or whether you wish to simply make it more
  attractive to the existing market.


• Put careful thought into why you are making a particular change
  and how it will appeal to its target market.


• Market research can be a rich source of ideas for reinvention.
  What do customers dislike about the existing services available
  to them, and what alterations would they most want to see?


• Be clear about the business impact and benefi ts, as well as
  understanding what needs to be done to ensure success.