The Ultimate Business Model

  • Business Strategy
  • Business Model Strategy
  • Brand Strategy

Are you able to define what the definition of each of these is for your business?

Can you interpret where you are in the market, your target customer, how you make money and control costs?

What part of your brand is burned into the brains of passersby?

If you can’t, you’re not alone.

Many small business owners have the most important tool nailed down, which is how you make money and control costs. There are many business owners whose cash flow and survival are a daily challenge where sales from the morning are used to purchase inventory for the evening.

Do they have a strategy?

Have they always operated in this fashion or are they brand new to the marketplace?

What’s important to understand from this is if you’re a b2b company targeting small business and you don’t understand even the cash flow happenings from your existing or potential clients, you may be targeting clients who can’t or won’t be able to pay you. You may complete a service or deliver a product to them, for free.

Know your target client inside and out. Pre-qualify them. Get scrappy, but don’t do go after the easy sale just because it’s easy.

Do you know your business strategy? Even if you’re targeting a small group, the future can hold insights to mirror groups or product ideas for mirror groups of clients where you can grow your business to the next level.

Let’s build off of this for a moment.

If you’re an established business with a steady customer base and your sales have been stagnant for awhile, you know you need to get new clients.

Have you exhausted all the possibilities within your existing client base first?

Your existing clients are going to be the most receptive towards new ideas. I don’t care if you’re a restaurant or a b2b service provider, more immediate and cost effective top line growth for your company will come through your existing client base:

  • Create new products that compliment an existing product
  • Solve a new problem for them
  • Upgrade your primary service with more value

Do you know your business model strategy?

When your existing distribution channels are tapped out for your existing products, you need to find new channels and new products and new value that your clients will want.

Is your brand recognizable in the market?

Do you know the size of the market you’re playing in?

What is your brand strategy?

How will you get existing and new clients to recognize you?

Brands are meant to create a connection with your clients and the marketplace. Brands fuel emotions and emotions fuel decisions. Having a brand and plastering it everywhere you can off and on line isn’t a good strategy.

Visibility, sure you’ll get that. But just because you’re seen doesn’t mean people will act.

Do you have a call to action on those advertisements?

Yes? Why aren’t they converting? Because… need to do…..

I don’t have an answer. It’s impossible to give a one size fits all answer.

The answers lie within the data.

There’s data everywhere, even if you think you don’t have any, data can be found and made.

Your brand strategy, business strategy, and business model strategy all play together.

Every business is different. Some people are excellent at and finding and filling alternate distribution channels for business growth while others are excellent at branding and messaging.

You may be small enough that you’re the sole provider and leader of all three of these strategies.

Are you dedicating time to discovering, planning, and steering towards them appropriately?

Do you even have time for that?

Can you create time for that?

Yes, look within your business model to find that time.

What are your operations list them and include non-payside activity and payside activities.

How many of them are you doing versus how many are others doing for you?

How many of those functions would you like to delegate?

How many do you enjoy doing and want to keep on your plate?

Can you do those functions while maintaining the Ultimate Business Model?

Find ways to delegate and find people to delegate to.

Their job shouldn’t be just to absorb work from you but to also create a written process for each function.

A process that is efficient and when read in written form can quickly be picked up and repeated by others. The business processes within your business exist in some form for all businesses, and the largest companies with the deepest pockets are finding ways to automate those processes with technology.

What are you doing to implement technological automation? Anything?

Find someone to delegate to who can create an efficient process for the operation, document the process so it’s easily repeatable and then find a way that the process can be automated. Their job, your job in anything that’s done is to eliminate the need for you or them to do it.

Why? Because money. Because more money. Time, and more time and freedom, that’s why. Eliminate the need for you and your employees to exist and you have a perfectly functioning operation that’s solving the problems of the world.

You win time and money to invest back into the Ultimate Business Model that will allow you to better serve the world.