Creative Industries Knowledge Transfer Network announce the ‘Leap Day Business Challenge’ as part of Social Media Week

Gibbon by Jon Kime

Use your leap day to review your business model!

The Creative Industries Knowledge Transfer Network (CI KTN) today challenged UK businesses to use February 29th to review their business model. The ‘Leap Day Business Challenge’ will be launched at the CI KTN’s event - The DNA of a Company: How social media is impacting business models.

“We’re extremely excited about the potential this challenge could unleash,” says Mel Norman, Theme Champion for Business Models and Growth at the CI KTN. “It’s aimed at company owners and CEOs who are running successful businesses, but who would like to stay ahead of the curve to secure their future. It’s sometimes hard when you’re focused on the day-to-day running of your company, to make time to review the way you’re doing business but in light of current technology disruptions, it could really add value.”

A recent study by IBM interviewed 1500 CEOs from around the world and revealed that nearly all of them are adapting their business models - two thirds are implementing extensive innovations, with more than 40% re-defining them to be more collaborative.

It’s a trend that the CI KTN says businesses can’t afford to ignore. “By stepping back and thinking how you can change your business model it can bring so many opportunities to your attention,” explains Mel. “This is exactly what the leap day business challenge is all about- you only get an extra day once every four years, we’re calling on companies to really make the most of it!”

CITKN has partnered with Media Sauce and Social Media Week to launch the challenge at this year’s Social Media Week in London. The panel discussion will look at how Social Media is impacting business models; exploring what ‘social business’ really means, how different companies are using it to develop and how it can really change the DNA of businesses. The panel takes place at the Design Council on 15 February from 4.00 - 6.00 and includes Jon Mell, Northern Europe Portal and Social Business leader at IBM, Tom Hulme, Design Director at Ideo and Lisa Rodwell, Chief Revenue Officer at

The ‘leap day challenge’ and panel debate will be followed up by online discussion forums and feedback from the CI KTN. Businesses are being encouraged to share their experiences to ensure the initiative benefits businesses across multiple sectors and creates a valuable dialogue about the future business models in the creative industries

If you think your company could benefit from reviewing your business model, join the challenge today! Simply register for a free work sheet by sending your details to bmatcreativeindustriesktn [dot] org. In addition MOO are offering £150 credit to spend on Business Cards, Stickers, and other print products to the organisation who supply the most insightful feedback. You can also follow the event live.

February 29 2012, just another day? No chance!

Picture (cc) Jon Kime