Business model strategy is not easy, since it takes all of the elements to be correctly architected, focused, aligned and executed. When crafting a holistic business model strategy, all of the business model elements shouldn’t be solved at the same time. They need to be prioritized from the top down.
If a company doesn’t have a mission or it is weak, fix that first. If the target markets, customers and geographies are too broad, then focus and better define them. If the value proposition doesn’t drive better customer value than the competition, then solve that. If the value proposition is strong, then focus on scaling through an improved go-to-market strategy. And, the better focused the top part of the business model, the easier it is to develop great organizational and functional strategies. Finally, if the business model is strong and working, then, and only then, think about expanding into new products, services, markets, customer segments or geographies.
Every company has the potential to grow for decades, but it all comes down to strategy and execution.
To get started on thinking through your business model, download the free Stratechi PowerPoint Business Model One-Page Worksheets. They’ve helped thousands of companies begin their business model strategy journey.
Also, check out the enhanced Business Model Template. And, my take on developing a strategy through workshops.
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WHAT IS STRATEGY?
GO TO MARKET