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Some space businesses, like underdeveloped countries, lack a coherent process for viewing their purpose and role. Private space organizations often have a myopic view of their business models and potential.
Space is the most universal of business opportunities today and yet most focus on narrow objectives and goals. To be in the business of space today, and to succeed with your business model, you need to take a broader view.
An effective model will recognize that all space organizations are in the business of inventing new processes, services and products for the benefit of all mankind. This has been the case in the past but has been overlooked as the true goal of space. It has merely been the result.
So it is not the primary product that you are creating that results in the most value, but rather it is the multitude of new discoveries that you make along the way that lead to new products, services and even industries. Value comes not from the business that you think you are in but rather the opportunities that you create.
In this way you are creating a value generation machine that not only benefits mankind but can also become extremely attractive to investors. To broaden ones perspective in this way can transform a space venture and improve the likelihood of its success. A business model that takes on this new vision can create a compelling story and development process that will help the business succeed. It is a way to become an industry leader and to make the connection between space and earth that will generate positive global recognition and value.
Let’s look at some potential examples:
- Materials – What if you developed a new heat shield material? – What industry or commercial applications could you propose? What industry or companies could profit from your new discovery? How would you leverage the discovery and market it to your targets? As with Apollo and Teflon you could find a commercial application that would create revenue, profit and value well beyond the development costs.
- Health Care – What if you developed a solution to bone deterioration in a weightless atmosphere? What application would this have to the problem of bone disease and degeneration in the elderly?
- Power – What if you developed a new solar power cell, for use in the outer solar system that was more efficient than those currently in use? The conversion to solar power from traditional carbon fuels would be affected exponentially.
These are just some examples of what might happen along the way as your company develops and innovates its way into space. They key is to recognize the power of the new innovations for profit and value generation.
The J.R. Hull Co., Inc. has developed the process for designing this more effective business model and vision. It is a way to move your organization to the next level and to transform your vision. It is more than a new chapter in your development. It is rather a new story that is more realistic, effective and understandable. Space is the biggest incubator of new value in the world and we need to get moving.…