The Business Model
A business model is simply a conceptual framework to explain (and visualize) how all the ‘moving parts’ of the business work together to serve customers and create economic returns. It’s like an artist rendering of a complex building. You don’t see all the details, but you get a sense of all the important features. The benefit of using a business model to understand (and communicate) the main aspects of the business, is that it forces you to ‘get out of the weeds’ and focus on the big picture.
Business Model = Customer + Operations + Product
A business model summarizes information such as vision, ideal customer profile, value proposition, internal expertise, sales channels, strategic partners, expense drivers, and sources or revenue—basically the key topics that executives are talking about every time they think about strategy.
Strategy starts here
Just about everything in business is bound to face change eventually, but things such as customer expectations and technology seem to change at mock speed. Business models become outdated as internal and external factors change. Your company may not need to reinvent itself, but it’s likely you can benefit from refreshing your customer persona, value proposition, sales channels or workforce recruiting strategies.
Business models need to anticipate the future
Looking at the business model as a snapshot of what’s going on in the business is a good way of quickly identifying areas that lack focus or, conversely, that are too narrowly focused on one approach. This evaluation starts the process of identifying a refreshed strategy.
To get started, use Align’s Business Model Blueprint to capture the current story about how your business operates and engages customers. Then evaluate the overall strength and sustainability of this approach today and for the future.
Strategy & Innovation Activities
Relevance is dynamic. The best businesses do more than respond to customers needs, they anticipate them. They also embrace new operating activities (it’s not just about technology) that can improve the customer experience, productivity and profitability.
We’ll help you look at your business holistically to find gaps where new approaches could lead to big opportunities. This can include presenting inspirations from other business models that might spark new insights. This is the assessment piece, it can be big or small!
Curious? Check out our Innovation page.
This is all about innovation and strategy development. We use lean, customer-driven methods to identify opportunities and establish a strategic direction. Activities like customer insights, stakeholder and market analysis, idea generation, prototyping and traction metrics are all aspects of our highly practical approach.
Whether we’re solving persistent problems, or tackling new frontiers, we help you build future capacity (new skills and mindsets) for strategic problem solving. Added bonus - we’ll help you build purpose and impact into the plan, so you can tap into motivators that go beyond profitability.
Ideas and plans are only part of the work. The real value comes from actually getting projects off the ground. So, we won’t leave you hangin’ with just set of recommendations. After we help you raise the bar, we’re available to help roll out new initiatives with accountability teams. This is where change gets its traction and leads to measurable results.