What the Heck Is a Business Model?

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As promised. I’m bringing you a brief overview of business models (that detailed blue print of your Vision Plan). Business Models are a great tool for creating the road map for your success in a single, easily adjustable plan. You can configure the elements in any order. You can change different elements of the business model without totally starting from scratch.

Business Model Elements

Target Customer Segments

Who are your ideal customers? Who are you creating value for?

Value Configurations

How is your business set up to drive value (i.e. value chain - linear, value shop, value network)

Distribution Channels

How will you execute and get your product/ Solution out?

Cost Structure

What are the expenses to execute your business model?

Revenue Streams

What are the sources of revenue that will cover those expenses?

Customer Relationships

What type of relationships do you currently have with your customers? What relationships are expected and how can you improve them? Add in 'Customer Delights'

Partner Network

Who are the businesses that are needed for executing your service or solution? (Your business ecosystem)

Core Capabilities

What unique skills/components of your business that contribute to your value creation solution, and cannot be easily imitated by competitors?

Value Propositions

What irresistible offering you will provide for your customers?

Business models are meant to flow with your business and change or tweak based on the influences of the environment, industry, strategy change, etc. I recently had to change my straight B2B solutions in order to accommodate changes in my family life that I could not predict or control. Luckily I only had to tweak my revenue streams and slightly change my value proposition to reflect the new model. Having the business model made it easier than having to sift through a full business plan and figure out what to change.

Ready to get started on your new Business Model? Head on over to my shop to find what you need to get it done.