The components of a business model

Monday, December 18th, 2017

As we discussed in our last post, a business model is a blueprint for the business, outlining how you’re going to run your business, and how you’re going to make money. It’s made up of five elements: Business concept Value chain position Calculating customer value Revenue sources and cost drivers Competitive advantage Let’s take a closer […]

What to do when your customers want different things

Saturday, February 13th, 2016

We’ve said it many times before – getting customer feedback is a great thing for your small business. It can help you figure out what you’re doing well, and what you can improve on. Maybe your customers don’t want you to make a change you think will be great (see the reaction to Twitter’s latest algorithm change for […]

The business concept: Value proposition and the compelling story

Sunday, November 9th, 2014

The value proposition and compelling story are two key aspects of a business concept.