03 Jul Behind the Scenes: Business Strategy on a Page
I can’t believe how fast time has flown by. We are already into the third week of the Tech Ready Program. This week our participants welcomed in Rob Lancuba, a speaker and business advisor.
Rob has experience helping CEO’s and CFO’s become better leaders, uncover new possibilities and achieve their goals with greater focus, energy and impact. His purpose and passion is to elevate the growth potential of people and the organisation. He does this by nurturing individuals, challenging them, understanding their fears and giving them the confidence to step forward.
He believes that whilst innovation and technology led improvements are critical components to achieving growth for organisations, effective leadership, talent development and a ‘customer’ focus are at the centre of all success.
This week’s core focus was to tackle the business model, the way a company creates, delivers and captures values. Gone are the days of spending months writing up your business plan. We focused on the Business Model Canvas. It’s a one-page tool that helps you get clear on the value you a providing the customer and map out your strategy.
Some of the most common business models are:
Brokerage – charge a fee for transactions enabled on their site (e.g. eBay, Gumtree, Expedia)
Advertising – sell ad space on their site (e.g.Facebook)
Infomediary – free access if you fill out a survey or subscribe (e.g.Twitter, SMH)
Merchant – wholesalers and retailers of goods and service. Seller can be bricks and mortar or bricks and clicks (e.g.Coles, Woolworths, Amazon)
Manufacturer – make and sell to market directly (e.g.Dell, Apple)
Affiliate – exchanging banner ads
Community – depend on user loyalty for sales or contributions (e.g.Wordpress)
Subscription – charge a recurring fee to access a product or service (e.g.Fitness First)
Utility – this is also known as “on-demand” or “pay as you go” approach (e.g.iTunes)
Freemium – basic services for free, charge for premium services (e.g.LinkedIn)
Leasing – rent, rather than sell, high-margin, high-priced products (e.g. GoGet cars)