Abstract
OVERVIEW:Services have been steadily displacing products in industrialized economies for a half century—which is not to say that products are going away; rather, they are going into services. Cheap sensors and ubiquitous connectivity are accelerating this trend. For technology-based firms, these conditions create many opportunities to participate in product-service business ecosystems. For industrial firms to thrive in this environment, they must be able to explore in the market with partners and customers. That is, they must learn to navigate partner uncertainty and end user uncertainty at the same time. This balancing act can be thought of as collaborative services entrepreneurship. The keys to success are establishing the firm's strategic boundaries and developing early business-model validation methods. This article illuminates those capabilities and shows how two (or more) firms can act in concert while each acts in its own self-interest.
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