7 Factors to Consider When Developing Your Business Model

~ Jerry DaC Blenman

Organizational Excellence Principle 1-26: A very necessary step in the establishment, development and management of an organization is the crystallization and enunciation of a carefully structured business model. With it, value is derived and extracted. Without it opportunities to create value are minimized.

In developing your Buisness Model here are 7 factors you may want to consider.

1. Define and categorize your customer segment

2. Ascertain the value you propose to offer with your product or service (value proposition)

3. Compare and analyze market competitors to determine comparative value and actions to develop and retain your market position

4. Define and ascertain the efficiency and reliability of the channels by which your products/services will be delivered

5. Define the systems by which the quality of your product or service will be maintained

6. Establish a system or systems for market monitoring of your product and position in the market

7. Ensure internal processes are aligned to your strategic intent to deliver value to customers.

Organizational Excellence Principle 1-30: A company’s business model is not as much a static diagram of its functional intent to achieve market success or an unchangeable prescription for harvesting business opportunities; more so, it is a dynamic indicator of how it intends to adjust and manage its market position to gain and retain a competitive advantage.