2011 @ wobuilt.com
"Business model innovation is about new ways of creating, delivering and capturing value"
Author, Speaker and Advisor on Business Model Innovation
Our business model in review based on Business Model Generation by Alexander Osterwalder
Recently I came across a great YouTube video about Business Model Design by Alexander Osterwalder. A different way of looking at Business Models based on their bestselling book Business Model Generation. It’s a language that is more tangible and visible and based on 9 building blocks, segments with different value propositions and relationships. The nine blocks are Customer segments, Customer relationships, Channels, The offer, Key activities, Key resources, Key partners, Cost structure and Revenue stream. What I liked about it was the apparent simplicity to show a business model in one picture, to be able to change and add components without having to start from scratch each time.
So we immediately started to put our Business Model together showing all our offers. It’s a work in progress, but the interim is shown above. I am not going into detail, but it showed us where we need to build up resources, partners and distribution and marketing channels. It showed where we need to concentrate our efforts and clearly showed the relationships between our offers and how we can leverage overlaps.
On further review we started to use the same model for each of the segments to develop them in more depths. This time we use it as a project management tool. But we found that we need to rename some of the segments to give a coherent picture. For example the Channels segment, which communicates and announces the offer to the customer segment, has now on the right side of the model success measurements, success implementation and key interactions. Success measurements ensures that the performance of the channels are monitored and tracked, success implementation shows the end results (number of contract signed for example) and key interactions shows the overlap and leverage between channels (for example sales meetings and Speaking engagements, both can be educational and sales).
Why are we on the look out for new ideas for business models and try to use them for us? The answer is simple: even though we are a construction company in a very traditional field we want to be on the cutting edge of business practices, technology and social thinking to build and grow a company that is fit for the 21st century. Many of the old paradigms are changing and we need to find the tools to work within our changing environment.
Wo-Built Inc. - Innovative Design and Build
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Our #Business Model in review thanks to #bmgen http://bit.ly/oFQ3DY - building and growing our #construction company in 21st century
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