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20 Hurdles Organizations Face When Implementing A New Business Model

  • Forbes
  • February 16, 2024

Designing and implementing a new business model can be challenging. Factors that can get in the way of a successful future range from resistance to change to unforeseen market dynamics. However, leaders who recognize these obstacles as opportunities for growth and innovation can change the course of their organizations.

Dan Galorath, Galorath’s Founder and CEO, is one of the 20 Forbes Business Council members who discuss key challenges in adopting new business models.

“Evading risk is one of the greatest challenges during the execution of a new business model. The execution process involves several steps where each stage must be approached carefully to avoid long-term damage. Minimizing risk requires planning and analysis, a phased approach based on real-world feedback, continuous monitoring, and evaluation to track success and investment in talent and training.”

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