1. The sustainable business model.
Making Your Business Sustainable
Business Development
Mastermind Group
Jacqueline Collins, Principal |98 Temple Street, #2, | Abington, MA 02351 | 781.982.8812
jacollins@pfpconsult.com | www.pfpconsult.com
2. Making Your Business Sustainable
What is a „business model‟?
“A business model describes the rationale
of how an organization creates, delivers
and captures value”.
How does the customer proposition combine with the profit formula,
the key resources and processes in a compelling way?
For instance, the classic „bait and hook‟ was popularized by a Mr. Gillette
– customers buy the razor holder relatively cheaply and the company
makes money each time customers buy the razors. The same model is
behind fountain pens, which gives us another insight – one business
model can be applied to different markets with different products, and
can have many strategies.
3. Making Your Business Sustainable
So, what is a sustainable business model?
First, it must be
commercially
successful. Why is
this proposition
valuable to the
customer & how
can you deliver at a
profit from it?
Second, it must be
future ready.
Third, it must be
part of a
sustainability
society.
6. Making Your Business Sustainable
The Seven Elements of a Business are:
1. Vision & Leadership (mission, vision, principles)
2. Business Development (sales, marketing, research)
3. Operations & Delivery (get a process that delivers a consistent
experience)
4. Financial Management (improve cashflow and profit just by paying
attention)
5. Customer Satisfaction (almost no one has a process for this critical
element)
6. Employee Satisfaction (treat them like they are #1 and they will do the
same for your clients)
7. Community, Family, Self (how is your business impacting the world
around you?)
7. Making Your Business Sustainable
The Business Check-Up
Do you have an Advisory Board? When was the last time you communicated with
them?
When was the last time you met in person with your accountant? Your attorney?
Your insurance agent?
Are you overly dependent on a few vendors or suppliers?
Are you overly dependent on a handful of customers or clients?
When was the last time you attended a trade show or professional meeting?
What is your Unique Selling Proposition (USP)?
What are you doing to promote your business this month? Advertizing?
Marketing? PR?
8. Making Your Business Sustainable
Questions to Ask Yourself
What alternative growth directions should be considered? How should
they be pursued?
What are our Key Results Areas (KRA’s)? A Key Result Area is an area of
business activity where the business must excel to meet customer needs
and beat the competition. Most organizations have 4 to 6 KRA’s.
What competencies, in any form, are critical to sustaining our
competitive advantage in the marketplace?
What are our critical skill sets?
What are the companys’ internal values?
9. Making Your Business Sustainable
Fast Company.com
Three Ways To Put Your Customer First
Give them what they need: consider what your target user is truly
feeling|missing|wanting|needing
Do the work for them: people want to be communicated with simply,
or not at all
Listen: listen to the people whom you’re trying to reach
11. Making Your Business Sustainable
Brand Identity
The mode in which customers recognize and remember you - a visual
standard that you want to have encompass your corporate personality
and product/services.
What is the company’s personality?
What are examples of competitor’s brands?
Is there a symbol or image that correlates to my product, service or
personality?
12. Making Your Business Sustainable
Brand Identity
Creating your brand persona
A brand is not a logo, tagline or product name. It’s the promise of an
experience.
To help create that experience; think of your brand as a person or type of
person. Are they conservative or trendy, traditional or contemporary,
professional or casual and so on?
Understanding your brand persona will help you develop a brand that
communicates the values, beliefs and experience your ideal customers are
seeking.
13. Making Your Business Sustainable
Brand Identity
Are you missing a piece from your Jigsaw?
Without the complete jigsaw, you have little more than a trademark.
Branding is at its most effective when it encompasses not only the name,
logo, color and slogan but also the entire ethos of the business from
product values to consistency of service, while capturing the attention of
its target market and personality of its employees.
A small business would be better served by concentrating on the quality
and consistency of service and communication to raise awareness and gain
recognition, with a view to building reputation by recommendation.
Remember, people buy from people!
15. Organization Design
Your Internal System
People
Tools
System
Process
Strategy
Operations
People
Organization Are the right
people in the
right positions?
Do your processes
support what you
say you will do?
Do
employees
have the
tools to do
their job?