HOW DOES THIS RADIO THING WORK? - WILLIAM EASTMAN

... "the Business Model and the required Core Competence"

Introduction
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.

LISTEN > ENGAGE > APPLY

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:

1. ​Based on our USP - which business models fit?
2. Based on our chosen business models what is our core competence?

What You Need to Know - The WHAT

UNIQUE SELLING (VALUE) PROPOSITION: Programming on Demand

• Primary - Customer Intimate
• Secondary - Product Quality

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:

• How it will select its customers
• How it defines and differentiates its product offerings
• How it creates utility for its customers
• How it acquires and keeps customers
• How it goes to the market (promotion strategy and distribution strategy)
• How it defines the tasks to be performed
• How it configures its resources
• How it captures profit

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:

• Functional Emphasis
• Process Emphasis
• Information Emphasis
• Key Metrics
• Key Concerns
• Organization, Jobs, Skills
• Culture, Values, Norms
• Information & Systems
• Management Systems

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
Business Model(s)

• Network Effect for On Demand Programming: provide a list of topics within a subject area and use customer input for final selection - Build What Our members Need.
• Knowledge to Product: turn knowledge into products;
• Product to Solution: help customers turn products into solutions;
• Solution to Knowledge: understand usage to improve knowledge base and future programming.

Core Competence

• The design and development of entrepreneurial products and/or services with functionality that creates sustainable competitive advantage for business owners and uniqueness for IBGR. 

We are your single, one stop source for business success, period, end of story.

1. ​Listen to the "Building in Front of You" Series 
2. JOIN the Community of Commerce - A Network of Entrepreneurs for Entrepreneurs
3. Show Up Next week

Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.

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