... "the Business Model and the required Core Competence"
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Welcome to the Open Kimono Show - Building Front of You. Every week we give you a status report of our startup to learn from what we do right and avoid our mistakes. The purpose of the show is not self congratulation or flagellation. No business is perfect even when they do all the right things. We live and compete in a dynamic and unpredictable business environment trying to make good short-term and long-terms decisions. Like all the programming on IBGR our goal is to save you from the school of hard knocks.
That is part of IBGR becoming your CGO - your virtual Chief Growth Officer. In that mode we have built a platform that moves beyond the one-way conversation of radio and podcasts to real relationships; our Community of Commerce where you can engage world-class talent.
A thought before we start, JOIN my new group in the IBGR.Community - Living the Life . If you are a serial entrepreneur and looking to discuss how to build a company that runs itself as part of creating a business empire or live a more balanced life, what ever that means - this is the right spot.
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Objectives - The WHY
This week is a combination of what you need to know and where we are - Business Models and Core Competence - the building of our core. We pulled some materials from last week's show "Why We Are A Revolution" on USP or Unique Selling Proposition and will start there. The goal this week, as well as last week, is to show how these early decisions make the later decision easier
Key Issues - Owner Perspective:
What You Need to Know - The WHAT
UNIQUE SELLING (VALUE) PROPOSITION: Programming on Demand
BUSINESS MODELS: (also called a business design) is the mechanism by which a business intends to generate revenue and profits, it is a summary of how a company plans to serve its customers and involves both strategy and implementation. It is the totality of:
Based upon the company’s primary and secondary value disciplines, the organization identifies current and new opportunities to provide value to targeted customers.
The choice of business model(s) are the bridge from identifying competitive advantage to building core competence. It is the basis for an overall strategy to reach each of the current and/or future opportunities. Here are the decisions this allows you to make with a high level of certainty:
Core Competence: is the one thing an organization does better than its competitors, it can be anything from product development to employee engagement, activities that are not part of a company's core competency are candidates for outsourcing; if a core competency yields a long-term advantage to the company, it is said to be a sustainable competitive advantage – a core competence of the company; core competencies are built through a process of continuous improvement and enhancement and should constitute the focus for corporate strategy.
What You Need to Do - The HOW
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