Your Business Model
You may not particularly like to admit it, but what exactly is your business model? A business model is how your business creates, generates and captures value.
It is how your business makes money
Key Thinking:
How can I make the proposition better for the customer?
How can I make the proposition better than the competition offers?
Can I do it in several ways to create multiple ways of making money?
Does my current business model really maximise my potential?
Don’t just change for the sake of Change!
Examples of Adaption and Lack of It
Look at two huge companies that were billion-dollar companies. The problem was they didn’t change their business models in light of a changing consumer landscape. Blockbuster Video & Kodak. Never heard of them? That’s because they are gone….
Argos introduced the catalogue and off-site storage so that it could have City centre outlets while minimising the square footage to be rented.
