What is a Business Model?

🔊 How do you implement a Business Model❓This is another great question I got recently from someone within my network and I answered that question with a question.

Do you know what a Business Model is❓and the answer I got was no

From there we had a really good discussion on the core elements of a business model. Now of course you can go to Daddy 🌎Google and type it in. You will get so many different descriptions of what a business model is and then you will come across references from

✅Harvard BR

✅Business Model Canvas

✅And then business model toolkits 

This can become very overwhelming and you can end up more confused. When it’s actually not that complicated. See whether you know it or not, you are already working under a business model. It could be very good or not so good.. And that choice is yours

Should you wish you to succeed, and I’m sure that’s why you are here👀

Defining the business model is a crucial component for success so you know

💥 What you are doing

💥 What’s working and what’s not

💥 What to do next

In the video I discuss a helicopter view of how to break down a business mode into its key components. From there you go deeper into the processes and systems that are required to deliver your value proposition to your customers and future customers.

I like to keep it as simple as possible. That is break it down into 3 core parts

⏩Delivery side 1st 

So you know what you are doing and WHY. That is knowing your Value Proposition and developing a strong customer journey that includes a strong customer buying process and everything that goes with it

⏩The 2nd element is the Supply side 

That is when you know what you need to deliver, you build the processes to achieve that. That is everything from your 1st supplier, all the way through to your operations. Building a systems approach so you can deliver a great product / service to your customer. That continually exceeds their expectations and you can only achieve this with great people in your business. So guess what, treat them like they are great people. Bring them along your journey 

⏩And finally how you continually interrogate and iterate the model so it. Continually gets more effective over time.. 

The goal in business is to always improve

That is improve your

✅Process

✅People

✅Performance

🔥And customer experience..

So what questions do you have about business?

Please keep the coming in and I will get to them when I can ❤️

#futurestateacademy #systemsthinking #business #problemsolving #continuousimrpovement #keepmovingforward #people #success #future #network