Taking a different view of your business with a business model canvas
Posted by brandstad in Dec, 2016
BUSINESS MODEL CANVAS
On the 23rd November Nnenna, CEO of Brandstad Consulting Ltd delivered a business seminar to a group of small businesses on how to use the Business Model Canvas as a tool for developing your business. This event was organised by Sophia Hubs which is a social enterprise that helps ethically aware people to start up and run their businesses. I really enjoy delivering sessions on the business model canvas. It encourages people to really start to look at their businesses in a totally different way to how they were previously looking at it. I use this tool often when coaching and advising clients to get them to look inwards at their resources and to really define what is their value offering from the perspective of the customers and the key partners
The business model canvas was developed by Alexander Osterwalder and it is laid out like a jigsaw puzzle with a series of links to another part of the business.
The biggest question of the night was….
What is a business model canvas?
Well it is a template which gets business owners/managers thinking strategically about their businesses from different viewpoints. It helps with developing new or documenting existing business models. As it is a visual chart with elements describing a firm’s or product’s value proposition, infrastructure, customers, and finances, it exposes any gaps in thinking and operations.
The attendees had to think about their own businesses in the context of the business model. Initially this was a bit difficult because they had never had to think about their businesses from this perspective but once we had gone through an example they began to see exactly how they could apply it and the benefits of doing it. One of the biggest positives for me is when the light bulb moment happens as the entrepreneur begins to get what they are doing. Another interesting moment is when the entrepreneur begins to see all the gaps in their business model/plan that they had not realised before. Initially it can be a bit discouraging especially as they usually think they have a water tight business and know where they are going. In actual fact it is a really positive thing because it highlights the areas that you need to work on. This is a good and cheaper opportunity to really work on those areas which are likely to cause your business to fail.
Business sustainability – what you need to know as a professional..
Webinar on sustainability October 2016 (7th & 21st)
It is always good to look into the future to really see what we can do today to prepare for tomorrows opportunities and challenges. This was the purpose of the two webinars which I was privileged to speak at in October. They were both organised by the ACCA. The environment is a real issue
Sustainability is a complex concept which if we are to be honest, has not yet been fully understood. There is an estimate that if everyone lived like we do in the UK then we would need 3 or 4 planets. Everything we do today will affect us in the future both positively and negatively. What’s even more scary is that no one actually knows how much time we have left.
There are 17 Global Sustainable Development Goals which the UK has signed up to along with several other countries. Sustainability is essentially about exploring how we cannot just maintain but replenish the earth’s natural resources such that it preserves life on the planet as we know it. As a finance professional/accountant we have a responsibility to ensure businesses are accountable for the environment. It is important that companies carry out an environmental impact assessment of their use of both natural and human capital in all the activities, in their product manufacturing processes and service delivery processes. Some people refer to this as measuring your carbon footprint. Company directors and managers need to be aware of the array of regulations which may be relevant to their industry. There are now a number of very important environmental quality standards such as ISO 50001 for Energy Management Systems. Senior management and Company Directors need to be aware of the quality marks which they should be operating on and strive to achieve them so that they can either be ahead of their competition or can benchmark themselves as one of the industry leaders. The technology is there and constantly developing to really move sustainable environmental management within businesses to the next level.
About Brandstad Consulting Ltd
Brandstad Consulting Ltd provides professional business consulting and coaching services to medium sized businesses. Businesses in need of a business process review in order to improve operations have been using our services for over 10 years. Our key services are in the form of business strategic planning, building innovative business plans and business models for growth, assistance with raising finance for business expansion. We also specialise in developing environmentally sustainable business models. Our consultants are also available to give key note talks and business workshops. Speak to us today to see if we can help. info@bizcomp.co.uk www.brandstad.co.uk
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