Business Modeling

Business Modeling

When I first started little endeavour I was told it would fail without a business plan. Nearly four years I still haven’t got one and it’s done quite well (quite well=grown in profit/clients every year). You could argue it would’ve grown quicker or bigger if a business plan was in place—you’d be wrong!

You see business plans are just guesses at best and for us, staying fluid with just a core principle of “everything we do must kick ass” (another words never do a bad gig) has been enough to cement our pedigree and ensure success. That being said, it’s now time to get a little bit more serious about future direction and growth. Not one for a traditional approach I devoured the book opposite which is for those ready to abandon outmoded thinking and embrace new, innovative models of value creation.

Business Model Generation has helped me craft a ‘plan’ without writing loads and loads of stuff but instead mapping and drawing it all out—thank you guys.

5 Comments

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  • Reply

    Ian Harris

    I agree with you. BMG could be used for the design of the business model and I too have started using it as the main tool in business planning.But i have to say that you still need to come to grips with the economics of the business model

  • Reply

    Mark Mapstone

    This sure is a mighty fine book. Just flicking through it, you can see the wealth of knowledge which has gone into producing it. I’m thinking of buying a copy and I don’t even own a business!

  • Reply

    DK

    Ian – agreed knowing the numbers is pretty crucial although doesn’t have to be as overcomplicated as some people make out. Keep it in the black and growing… simple stuff ;-)

  • Reply

    Ian Harris

    There still has to be some reality checks built into the planning. But his can be guided by the ‘business model canvas’.What are the assumptions?What needs to be validated further?What is the basic feasibilty?What are some scenarios going forward? Optimistic & pessimistic!How do they affect the initial investment required?What can go wrong?These are all part of a robust planning process.

  • Reply

    DK

    These are all valid questions although with any planning process the danger is going too deep and not testing / validating your model by doing… prefer to answer these questions more deeply as we go as you will be answering from the actual rather than perceived then :-)

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