In my last post, Revisiting Your Business Model, we realized that this process can be a lot like the game of pool. The main object of the game is to eliminate pool balls on the table, and changing a business model has many parallels.
The game starts with setting up for the break shot. And when we want to revisit a business model for possible changes, we first line up and group the products and services currently offered by the business. That was your visual homework in part one. How did you do with it?
I imported the visual homework / graphic map into my iPad to work on it with you. Using the Adobe Ideas app, here is what I came up with for my own business model:
After completing the Business Model Homework Part One for your own business, take a closer look at the products/services you listed as numbers 13-15. Put a small “x” next to them.
Of these three you marked with an “x,” (also your lowest priorities) ask yourself:
- To what extent are these three products or services profitable or healthy for the organization?
- Does the current investment of time and resources reflect the lower priority placed upon these three? In other words, are we spending too much time on areas that strengthen the organization the least?
- Is the current or potential market demand for these products or services hot, or luke warm?
I hope the visual homework and questions helped you discover something you can either eliminate or significantly reduce in your business model. I plan to call my next shot, how about you?
This visual homework exercise is a small taste of the kind of coaching and consulting work we do here at Red Eleven. As we partner with business owners, leaders, and teams, we use graphic maps and visual thinking to facilitate proven strategic visioning practices.
A few immediate benefits to this type of strategic visioning work:
- move creative ideas into practical solutions
- what used to be tedious strategy sessions become engaging and fun
- a great way to strengthen your business and encourage creative thinking
- build team cohesiveness, common understanding, and synergy that impacts all business practices
To learn more, reach out to me at jocelyn@jocelynwallace.com. I look forward to connecting with you!
Related articles
- Revisiting Your Business Model Billiard (jocelynwallace.com)
- Viz Your Time – Stop Wait or Go (jocelynwallace.com)
- Business Model Toolbox for iPad (businessmodelgeneration.com)
- Strategic Planning Retreats (directis.ca)
