Summary:
In this blog we will tell you how to evaluate and improve your Business Model, putting the customer at the center of your evolution and growth.
Index
Introduction.
Your company under the magnifying glass, which is the Business Model Canva.
Main components.
How to evolve your value proposition and your Business Model.
Trace the correct path towards its evolution.
Introduction
In a constantly evolving and highly competitive world, business models must adapt and update to maintain sales and profitability. The ability to innovate and respond to changing market needs is crucial to keep up with trends and consumer demands.
For this reason, businesses that resist change and cling to outdated approaches risk losing relevance and may ultimately face financial difficulties. Therefore, it is essential that companies are always vigilant and willing to adopt new strategies and procedures that allow them to thrive in an ever-changing business environment.
Your company under the magnifying glass
The mapping of a business model can be done using the Model Business Canvas methodology, but what is the Business Model Canvas and what is it for? It was created to explain and align how the business model of any company works, through a document that includes all its fundamental points.
The methodology is composed of 9 elements that allow the identification of the main components of a business or company:
1.- Different market segments to which you direct your products and/or services.
2.- Value proposition for each of the market segments.
3.- Distribution channels for your product and/or service.
4.- How do you communicate and create a relationship with your customers.
5.- Fundamental activities to boost your value proposition.
6.- Fundamental resources to give life to your value proposition.
7.- Alliances or strategic partners that will complement your value proposition.
8.- Income, from where and with what activities the income of the company is generated.
9.- Cost structure, what makes your company money.
This framework of your business model will help us to identify its main components and later evaluate how we can improve our value proposition, sales and profitability.
Main components
So that you can have a defined business model, the first thing you have to do is the initial diagnosis of your company with your management team. The image will help them fill in these spaces on the Model Business Canvas. This can be divided into the four main aspects of a company: customers, offer, infrastructure and financial viability of your business.
The right side of the dashboard is focused on the customer (external), while the left side is your business (internal). Both external and internal factors respond to the value proposition, which is the exchange between your company and customers.
How to evolve your Business Model
To evolve your business model we must put your customers at the center, and then make a diagnosis of the strengths and weaknesses of the current business model, where quadrant by quadrant and with more than 150 questions we will be able to identify how strong or weak your business model is. business model.
Subsequently, we must investigate how the purchase is decided, what are the pains of your customers, their unmet needs and their unmet desires. Based on this information, we can rethink the value proposition to bring it closer to what the client requires and demands.
All this process comes in the market research stage that we can carry out to have a diagnosis of our client that allows us to understand and improve our value proposition by getting closer to those they want and to eliminate their pain or friction points.
draw the right path
What opportunities do we have in our business? What can we improve? What internal and external factors do we have to make our processes more efficient? What are the needs of my client? What do you like most about my product or service? What is my competitive differentiator?
All these questions will help us define each part of the document to detail the new business model or just restructure the current one. Once we have managed to identify all these factors to improve, now it will be easier to complement your Business Model Canvas and have a well-defined business model.
After this, we only have to implement it for the entire operation of the company, together with KPIs that allow us to know if we are going in the right direction. Remember that the measurement of all these strategies is what will allow you to know if you are making the right decisions in all the processes of your business or if you should focus on any; It will even help you find out if your business model is the right one.
Do you want an expert to tell you how the Business Model Canva can be applied to your company? Fill out the attached form or send us a message via WhatsApp so that we can contact you.
Defining your business model is a key point for the development of your company, which is why at Leaper360 we help you improve it to be clear about the four main aspects of your company: customers, offer, infrastructure and financial viability.
We are made up of a multidisciplinary team at the management level with more than 25 years of experience in marketing, communication, sales and customer service, we work hand in hand with certified personnel in digital marketing and communication. We create campaigns focused on accelerating sales and building highly purchased, remembered and recommended brands.
Leaper360 experts use the Sales Up methodology, which encompasses the Model Business Canvas process, as well as many other strategies that help companies accelerate their sales and profitability.
With our advice you will stop living in a negative spiral where your sales, profitability and cash flows do not grow. You will stop being worried because your executive and managerial team is unmotivated and uncoordinated, because we will teach them to get out of the spiral in which they find themselves today.
Focus your efforts on defining your business model using this tool and allow the experts to design a strategy that allows you to achieve your company’s objectives and unleash its growth potential. Schedule an appointment and start applying the Sales Up methodology with Leaper360.
