A Business Model is how a business creates value for itself while delivering value, via solutions, to its customers.
Whether someone is thinking of creating a startup business or is already running a business, the above claim or definition does not discriminate – both need a Business Model.
Unlike passion, one of the essential details of starting a business, the need for a Business Model, does not attract the attention it requires. The Seven Factors For Success that comprise a Business Model were introduced in the eBook Starting a Business – With Facts, Not Faith[1]. Without a viable and sustainable Business Model, you won’t be able to create a successful business, or if you have already started a business, you won’t have one for long, and those, right there, are the inconvenient facts.
To assist aspiring and existing business people, the 1-Page Business Model was developed. The Distinctive Value Proposition (DVP) of the 1-Page Business Model is that it condenses onto one page the Seven Factors For Success, and it comes with a short handbook that describes how to use it. The Seven Factors For Success are the consecutive foundations required for a successful Business Model and therefore a successful business; they begin with the need to find a Job To Be Done – “see a need, fill a need”[2] and then develop a solution for that job. From the initial requirement for a Job To Be Done, the Seven Factors For Success build sequentially on top of each other, that for a startup is like escalating commitment and investment, and for an existing business is similar to cascading nuance and solution differentiation.
The 1-Page Business Model can be used in two ways:
- Aspiring business people – can use it as a checklist before they commit more than is appropriate to their venture.
- Existing business people – can use it as an audit and diagnostic tool to determine if what they are doing aligns with what is needed for a successful Business Model.
You’ll find the 1-Page Business Model (1 page) here, and the 1-page Business Model and Handbook (13 pages) here.
[1] Starting a Business – With Facts, Not Faith, Third-edition, 2020, Glyn Davies.
[2] Robots Movie, 20th Century Fox, the character Bigweld. Maybe better as “see a need, fill that need.”
#DontThinkCheck #BusinessResultant #StartMyBusiness #RunMyBusiness #SeeANeedFillANeed #SeeANeedFillThatNeed