Making the complex simple and getting everyone on the same page!
Let’s explore what a business model is and why we need one!
Have you ever felt overwhelmed by complex business plans and documents? Wondering if there’s a simpler, more effective way to execute your vision? What if I told you that the key to operational success can fit on one page?
Learn why top entrepreneurs are turning to this method and how you can use this to streamline your operations, boost your results, and reduce the stress of driving a business. Let’s make the complex, simple.
Overview
The term BUSINESS MODEL is completely subjective. And rightly so! There are so many fantastic styles of models, plans, strategies, canvases out there. For me, it all boils down to the value something brings to you and your business.
For many years I have been involved in transforming business. When working with executives, leaders, teams, and individuals I have found that keeping things simple is critical. To have a team all absolutely clear on how the business operates is super amazing!!
I’m not sure about you, but my eyes roll around in my head when I see 20, 30, 40 or even 50-page business model or plans. Don’t get me wrong, I love the detail, the data, forecasting, and strategies, but eventually the detail needs to be translated into an executable document, something everyone in the business can fully understand and operationalise!
Personally, I’m all for business documents that drive me and enable absolute certainty with every decision I make. I use my one-page business plan to inform my priorities, my choices, and drive my outcomes!
Imagine capturing your entire business on just one page. A minimal approach for maximum results! A definite stress reliever!
A Real Live Example
Here’s how this approach shifted one business a few years ago.
I had a team of 75 incredible leaders and trainers servicing over 35,000 customers. I conducted a 1.5 hour workshop with my 8 amazing senior leaders where we drove out our one-page business model. This was a structured session where collectively we built our model, together! Everyone was able to participate as this session was simple, structured, and in simple steps!
We identified our customers, products and services, processes, and the inputs to the business that enable success.
The consistent comment from the team was how simple this was. They were kind of shocked that they agreed so easily and created it with ease and grace. They said they loved knowing exactly what to focus on to achieve our business objectives.
On the same day we used this simple one-pager to do a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats), a risks and issues analysis, and created simple KPIs that actually measure the things that matter. I recommend this exercise for all businesses and their leadership team. This instantly changed the dynamics of the team! From this moment on, we were one! One team, one voice, and one focus!
If you are interested in a workshop for your team, reach out to us on support@quickwinsforbusiness.com
What is a Business Model?
Let’s explore what business model options are out there and why a one-pager may be your greatest way to set yourself up for success and reduce the overwhelm. Firstly, we really need to know the purpose of a business model.
Purpose of a Business Model
According to articles from the Journal of Business Models and Harvard Business Review, the agreed purpose of a business model is to provide a high-level plan for how a company operates to make money (how the business creates, delivers, and captures value).
A business model describes the business, clarifies the company focus for investors and employees, and highlights the elements that need to be managed and measured.
Without a business model, Key Performance Indicators (KPIs) become a hit and miss affair. In many of the businesses I have worked, consulted, and coached, I’ve found the KPIs rarely align to the purpose of the organisation. They are often centred around what data is already available or what people think they need to measure.
I think we can agree a Business Model is a good thing to have.
One popular business model is the Business Model Canvas (BMC). Let’s look at the features, advantages, and disadvantages. It is a structured overview of a business’s offering, infrastructure, market, and finances on a single-page format. It includes nine building blocks: Value Proposition, Customer Segments, Customer Relationships, Channels, Key Partnerships, Key Activities, Key Resources, Revenue Streams, and Cost Structure.
It is a structured approach to design and analyse a business. I think it is a valuable tool. However, for me, it lacks how the business executes, what processes are involved, and the key elements to measure!
I needed to find or create a visual business model that provides not just the elements of the business, but one that shows how the business is operationalised. One that:
- enables clarity on what to measure
- clearly shows what to focus on
- shows precisely how the business creates value
- is visual and easy to understand
According to Harvard Business Review, the human brain processes visual information 60,000 times faster than text. Mind blowing!! Don’t you just love the way our brains work! Now I understand why I prefer to use a visual, operational business model.
The model I prefer clearly shows customers, products and services, the inputs from your suppliers, and importantly the key processes including the high-level steps that make the business work.
My questions for you are:
Do you have this?
Do you have a one-page model or a visual representation of your business?
Do you and your team collectively know your customers, products and services, suppliers and the inputs they provide, and the processes that operate to create money?
Imagine how something like this could empower your planning meetings, decision making, investments, risk analysis, task prioritisation, or for scaling or even selling your business?
I have not yet met a business with a clear business model. I believe this type of business model is invaluable and in fact I don’t know how people run businesses successfully without one.
I am here to change this! I want us all to have a clear roadmap for success! It is one of the best investments you can make in your business.
Let’s walk through the steps to create your business model.
Let’s dive in so you can get your model TODAY!
Step 1 – identify your products and services.
What is it you produce for your customers? Don’t worry about your admin outputs like files for your accountant etc. Just what you produce for your customers.
Step 2 – identify who gets these products and services.
Who are your customers? Be specific!
Step 3 – Identify what inputs come into your business
Think about inputs like raw materials, software applications, information, enquiries, etc,
Step 4 – identify where these inputs come from.
Who supplies these inputs? Be specific!
Step 5 – identify what processes your business executes
What steps turn the inputs into products and services?
Put this information into a single page. Use this as a guide to all your decision:
- What to measure?
- What processes need attention or have problems?
- What capability and people you need to work with you in your business?
- What areas of risk you have. Turn this into a visual representation of your business
A Special Offer for You!
My passion for this foundational business asset is why I have created a special offer for you and I to work together one-on-one or with your team over zoom to create your visual business model – it takes less than 90 minutes.
I bring my decades of experience, you and/or your team bring your unique knowledge of your business. You won’t need anything else.
Together we will create the visual model with all the key elements. I am so certain you will love this model that I offer you a 30 day 100% money back guarantee.
If you think you would benefit from having a one-page business model, you can reach out to support@quickwinsforbusiness.com.
Go to quickwinsforbusiness.com/offer and snag a special limited offer. Let’s do this!
Before we finish… Here’s a story showing how business models are important for any size business… from the sole trader, to the biggest organisations!!
How a Business Model Shifted an Organisation!
One business transformed many years ago had 13 vastly different business units that collectively made up a large organisation. To ensure the business was set up for success, I worked with the senior leadership team to create a high level business model for the organisation. This provided incredible clarity and validated the operating model we implemented.
Once done, we worked with each of the 13 senior leaders and their teams to generate their next level model. This was done for each discrete business unit. These business models clearly showed the scope and boundaries for each business unit, showed what they produced and who received the outputs. This clearly enabled each manager to know exactly what to measure through the lens of cost, time and quality! Each model only took 90 minutes even when built with a team of 10 people.
The benefit of creating the model with the team was their buy in and understanding of the business. The culture this created was palpable. The team united. It was magic to watch!
Imagine if you could do this with your business team… imagine the buy in you would get and the understanding of what was important to measure!! Absolute Gold!!
– OVER TO YOU –
This one action step could reduce your burden and overwhelm instantly! I’ve seen this happen time and time again! It warms my heart!
To recap…
Apply this simple method whenever you have a problem impacting your business (or life).
Step 1 – identify your products and services
Step 2 – identify your customers – who gets your products and services
Step 3 – identify the inputs that come into your business
Step 4 – Identify the suppliers who provide your inputs
Step 5 – Identify the (high level) process steps that operate your business
PUT ALL THIS ON ONE PAGE – IT IS YOUR BUSINESS BIBLE!!
Join me online
If you are an active learner, and enjoy sharing the journey with others, join our private facebook community. I will be there actively moderating, sharing additional information, and fostering a community that is safe, supportive and powerful. Think of this as your online mastermind group. Come be a part of it!
See you there!