Are you an entrepreneurial spirit? yes _______ no _______ Are you constantly thinking about how to create value and build new businesses, or how to improve or transform your organization?
yes _______ no _______ Are you trying to find innovative ways of doing business to replace old, outdated ones?
yes _______ no _______ (View Highlight)
Note: You should understand that, having these type of spirits is common for “your people”, it is not due to greed, not due to incompetencies, it is due to your nature entrepreneurial spirit.
A business model describes the rationale of how an organization creates, delivers, and captures value (View Highlight)
Note: A great description of how business the model of business model work. But it is not enough to be useful, it is however enough to be used for alignment.
You need to go in-depth to really understand how an organization creates, delivers and captures value.
The nine blocks cover the four main areas of a business: customers, oΩer, infrastructure, and ï¬nancial viability.
The business model is like a blueprint for a strategy to be implemented through organizational structures, processes, and systems. (View Highlight)
Note: There’s only 4 important areas.
Also noted here, that business model is a canvas or blueprint that help strategy to be implemented through organization, process and system.
Diversiï¬ed An organization with a diversiï¬ed customer business model serves two unrelated Customer Segments with very diΩerent needs and problems. (View Highlight)
Segmented Some business models distinguish between market segments with slightly diΩerent needs and problems. (View Highlight)
Mass market Business models focused on mass markets don’t distinguish between diΩerent Customer Segments.
The Value Propositions, Distribution Channels, and Customer Relationships all focus on one large group of customers with broadly similar needs and problems. (View Highlight)
Niche market Business models targeting niche markets cater to speciï¬c, specialized Customer Segments. The Value Propositions, Distribution Channels, and Customer Relationships are all tailored to the speciï¬c require- ments of a niche market. (View Highlight)
Customization Tailoring products and services to the speciï¬c needs of individual customers or Customer Segments creates value. (View Highlight)
A Value Proposition creates value for a Customer Segment through a distinct mix of elements cater- ing to that segment’s needs. Values may be quan- titative (e.g. price, speed of service) or qualitative (e.g. design, customer experience). (View Highlight)
Note: These are some Value Proposition factors that play roles in their “Desirability”.
There’s a lot of solution out there, simple improve it’s Value Proposition and we can have a viable offer.
Performance Improving product or service performance has traditionally been a common way to create value. (View Highlight)
Newness Some Value Propositions satisfy an entirely new set of needs that customers previously didn’t perceive because there was no similar oΩering. (View Highlight)
“Getting the job done†Value can be created simply by helping a customer get certain jobs done. (View Highlight)
Price OΩering similar value at a lower price is a common way to satisfy the needs of price-sensitive Cus- tomer Segments. (View Highlight)
Design Design is an important but diΩicult element to mea- sure. A product may stand out because of superior design. (View Highlight)
Design Design is an important but diΩicult element to mea- sure. A product may stand out because of superior design. (View Highlight)
Note: At current moment, I think we’re growing to be design-focused?
As we have issues with adoption, more than innovation.
Brand/status Customers may ï¬ nd value in the simple act of using and displaying a speciï¬ c brand. (View Highlight)
Cost reduction Helping customers reduce costs is an important way to create value. (View Highlight)
Risk reduction Customers value reducing the risks they incur when purchasing products or services. (View Highlight)
Accessibility Making products and services available to custom- ers who previously lacked access to them is another way to create value. This can result from business model innovation, new technologies, or a combina- tion of both. NetJets, for instance, popularized the concept of fractional private jet ownership. Using an innovative business model, NetJets oΩers individu- als and corporations access to private jets, a service previously unaΩordable to most customers. Mutual funds provide another example of value creation through increased accessibility. This innovative ï¬nancial product made it possible even for those with modest wealth to build diversiï¬ed investment portfolios. (View Highlight)
Note: An example of focusing on Adoption
Convenience/usability Making things more convenient or easier to use can create substantial value. (View Highlight)