{"id":606,"date":"2016-11-21T15:31:53","date_gmt":"2016-11-21T13:31:53","guid":{"rendered":"https:\/\/rocketpad.co.za\/matoyana\/?p=606"},"modified":"2019-02-07T15:52:46","modified_gmt":"2019-02-07T13:52:46","slug":"what-is-a-business-model","status":"publish","type":"post","link":"https:\/\/rocketpad.co.za\/matoyana\/what-is-a-business-model\/","title":{"rendered":"What is a Business Model?"},"content":{"rendered":"

A business model is something you create for yourself in the primary phase of starting a business \u2013 in other words the \u201cblue print\u201d of your business. It helps clarify that you have a product or idea that people are interested in and are willing to buy. A business model also helps identify who your potential customers are and how your business will operate.<\/p>\n

Why Use a Business Model? <\/strong> Too often business owners start a business without taking the time to map out each area that will allow them to run and operate a successful business. By working out a business model you are forced to focus on creating a product that meets your customers\u2019 needs, revenue strategies, costs, margins, distribution strategies etc. If done properly, it will reduce your chance of failure.<\/p>\n

\"what<\/a>The Business Model Canvas<\/strong><\/p>\n

This is a strategic management and entrepreneurial tool created by Osterwalder & Pigneur. Here are the\u00a0nine<\/a>\u00a0different segments of the Business Model Canvas to help you design yours:<\/p>\n

1)\u00a0\u00a0\u00a0\u00a0\u00a0 Value Proposition:<\/strong> What needs are you trying to meet?<\/p>\n

2)\u00a0\u00a0\u00a0\u00a0\u00a0 Customer Segments:<\/strong> What type of customer relationships do you need to build? Will they be low touch or high touch or in between? 3)\u00a0\u00a0\u00a0\u00a0\u00a0 Channels:<\/strong> Which channels are available to create awareness around your product or service?<\/p>\n

4)\u00a0\u00a0\u00a0\u00a0\u00a0 Customer Relationships: <\/strong>How will you create demand?<\/p>\n

5)\u00a0\u00a0\u00a0\u00a0\u00a0 Key Activities:<\/strong> What things need to happen to get the wheels of the business turning? Think of everything here, from office to website. 6)\u00a0\u00a0\u00a0\u00a0\u00a0 Resources:<\/strong> This includes looking at suppliers, commodities and funding.\"what<\/a><\/p>\n

7)\u00a0\u00a0\u00a0\u00a0\u00a0 Partners \/ Stakeholders:<\/strong> Accounting, bookkeeping and legal as well as platforms that can work symbiotically with your business. 8)\u00a0\u00a0\u00a0\u00a0\u00a0 Cost Structure:<\/strong> Where will your business operate? Will you need a laptop? What kind? Your Business Model needs to include all these potential overheads.<\/p>\n

9)\u00a0\u00a0\u00a0\u00a0\u00a0 Revenue Streams:<\/strong> Consider your different revenue streams. Don\u2019t focus on price, but rather look at how people will buy and how to monetise.<\/p>\n

Online Resources <\/strong> https:\/\/strategyzer.com\/canvas\/business-model-canvas<\/a><\/p>\n

Recommended Business Model Tool to Use<\/strong> The Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers<\/a> is detailed and provides you with a template, as well as questions to guide and assist you to develop and map out your business model.<\/p>\n

For a secondary analysis on creating a disruptive Business Model read this great article on A New Approach to Business Model Innovation<\/a> and feel free to contact us if you need any encouragement or advice.<\/p>\n

Contact: Nokwazi Mzobe, Founder at Matoyana<\/p>\n

Email: <\/strong>nokwazi@rocketpad.co.za<\/a><\/p>\n

Matoyana Business Solutions is a boutique business consulting company located in Johannesburg, South Africa. It is targeted at start-ups, small and medium enterprises across Africa.<\/p>\n

Facebook<\/a> Twitter<\/a> LinkedIn<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A business model is something you create for yourself in the primary phase of starting a business \u2013 in other words the \u201cblue print\u201d of your business. It helps clarify that you have a product or idea that people are interested in and are willing to buy. A business model also helps identify who your…<\/p>\n","protected":false},"author":1,"featured_media":608,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[66],"tags":[164,165,166,167,119,168,169],"class_list":["post-606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-business-model","tag-channels","tag-customer-relationships","tag-customer-segments","tag-entrepreneurs","tag-stakeholders","tag-value-proposition"],"_links":{"self":[{"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/posts\/606"}],"collection":[{"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/comments?post=606"}],"version-history":[{"count":1,"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/posts\/606\/revisions"}],"predecessor-version":[{"id":2112,"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/posts\/606\/revisions\/2112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/media\/608"}],"wp:attachment":[{"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/media?parent=606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/categories?post=606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rocketpad.co.za\/matoyana\/wp-json\/wp\/v2\/tags?post=606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}