In this comprehensive course, participants will delve deep into the intricacies of business models, understanding their significance and how they differ from business plans. Through a blend of theoretical knowledge and practical tools, learners will gain insights into how organizations capture and create value. The purpose of this playbook is to equip leaders to find clarity in their business model, in order to help others, build value in it.
The course will also explore renowned business model frameworks and introduce participants to the Business Model Canvas, a tool that aids in visualizing and innovating business models.
Leaders will be empowered to create, clarify, innovate, optimise, and improve their business model.
This playbook addresses Question 4 from the 7 Questions.
Q4: What is our business model, is it creating value, what metrics tell us this and what practices improve our value proposition?
This playbook is used to go deeper, explore more detail, and determine a valuable business model for your organisation.
Upon successful completion of this course, participants will be able to:
- Define a Business Model: Understand the fundamental difference between a business model and a business plan, and recognize the importance of clarity in a business model for internal and external alignment.
- Utilize the Business Model Canvas: Familiarize with the nine building blocks of the Business Model Canvas and use it as a framework for rapid innovation and iteration.
- Incorporate Additional Building Blocks: Integrate the two additional building blocks – Key Metrics and Practices – to gain a holistic view of a business model.
- Evaluate Business Model Effectiveness: Determine if a business model is creating value by understanding leading vs. lagging indicators and identifying the right metrics.
- Identify the North Star Metric: Recognize the significance of a North Star metric for long-term success and learn how to select and track it effectively.
- Understand Business Model Practices: Identify systemized activities that set a business apart from competitors and learn how to sustain value creation through these practices.
- Apply Renowned Frameworks: Explore and apply insights from leading business model frameworks like “Reinventing your business model”, “Business model generation”, and “Running lean”.
- Iterate and Innovate: Use the knowledge gained to continuously improve, adapt, and innovate business models in response to changing market conditions and organizational goals.
- Facilitate Workshops: Use clarity canvases and clarity statements to facilitate workshops, ensuring alignment and clarity in business model discussions.
- Lead with Clarity: Understand the importance of clear assumptions in business models, drawing inspiration from management theories and practices.
By the end of the course, participants will be equipped with the knowledge and tools to design, evaluate, and iterate business models that align with organizational goals and create consistent value.