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In 2022, You have to learn how to optimize your resources and be more deliberate about your goals. These insights lead me to organize this business model design training and share it with you.
A major mistake made by many start-ups around the world is focusing on the technology, the software, the product, and the design, but neglecting to ever figure out the business. And by “business” we simply mean how the company makes money by acquiring and serving its customers. – Reid Hoffman.
The 9 business generation was initially introduced by Alexander Osterwalder in the year 2005 which was at the time known as the 9 building blocks of every business. In recent times these building blocks have proven to be a pillar that every business must rest on to yield tangible results.
The first block of the business model canvas is the Value proposition.
Contrary to the wrong notion the value proposition is what the business entails; it is actually the benefit that the service gives to the customer. Value proposition varies among businesses hence it is what makes a particular business unique.
Having a value proposition doesn’t just help solve a problem, It enables us to get a better understanding of the business we are going into
It is the second business model and it focuses on the targeted customers, that is, the group of people or organization that the business plans to reach. For instance is the business specifically for high-end customers, are they majorly for plus-sized or targeted at just children?
However some organizations undergo the multisided customer segment, Google and Netflix are examples of such organizations.
It is the third business model that is concerned with how your company will communicate with each customer segment, delivering them your value proposition
it is said to be the most important aspect of the 9 business model Although this service can be personal or automated, it is important to understand which method will best serve your customer’s needs.
For everything in the business or project to run smoothly, the key activities are the things to get done. Let’s take a spelling bee competition, for example, the activities to get done might include securing a venue, setting it up, assigning a judge to preside over the event. The key activities for a business are broken into two namely; the one-off and recurring activities. In addition to that, there are activities scheduled to be done daily, weekly or monthly as the case may be.
The sixth business model is the key Resource.
They are the important assets that are available to you and are required to make your business plan a success.
Businesses majorly are about people and will always be executed by people, which is why making the right partners will go a long way in the optimization of businesses. To date, the big organizations still partner with other small organizations. These partnerships are geared toward getting the job done more effectively rather than faster.
It is basically centered on money spent for the running of the business. It is the analysis of all costs involved in operating a business model. Some costs vary, some are fixed, while others a recurring such as payment of staff, data subscription.
It is how a company makes income from each customer segment. It could be outright sales or rentals. It is different from profit. it is always better to have different revenue streams.
Conclusion on Using the Busines Model Canvas to Optimize Resources and be More Deliberate about your Goals in 2022.
In conclusion, these business models are a company’s core strategy for building an effective and profitable business. Using this will lead to insights about the customers you serve, what value propositions are offered through what channels, and how your company makes money.