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INTRODUCTION TO BUSINESS MODEL
When considering the future of your business, whether it’s your overall strategy or some new product and/or service, you must first take some time to really understand your business inside and out. The Business Model Canvas provides a simple way to map the way your business – or any business – creates, delivers, and captures value.
UNDERSTAND YOUR BUSINESS MODEL
Understanding just how you add value to your customers’ lives is crucial. This serves as the basis for any discussion about your business.
Who are your customers and what problems do you solve for them? How do you deliver that value to them?
One of the best ways to structure this information is by using the Business Model Canvas. Since the publication of Business Model Generation, it’s been found that the Business Model Canvas serves as a perfect platform on which to hold better, more strategic conversations built on a common understanding and with a common language.
For more background, read: Business Model Generation by Alexander Osterwalder and Yves Pigneur
DON’T ASSUME YOUR TEAM UNDERSTANDS YOUR COMPANY’S BUSINESS MODEL.
UNDERSTAND YOUR BUSINESS MODELS
If you work for a large organization, you might find varying value propositions and business models. Take a hospital, for example. An academic hospital consists of three separate business models at the highest level: 1) patient ...
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