The Business Model Audit
‘A Business model is a story of how an enterprise works.’ Magretta
Are business models the preserve of venture capitalists and internet start-ups only? Much of the current commentary seems only to consider business models when discussing those categories. However, it is in the interest of any business intending to compete successfully over the long term to have a coherent ‘story’ of how it intends to both create value for customers and capture value for itself. But what are the elements of that story and isn’t the term business model simply another way of referring to a business plan?
In the Business Model Audit workshop we will use a systematic method to test our current business models for fit and robustness. We will be able to answer questions regarding our business model such as:
- How well does it meet the requirements of our chosen market?
- Are we leaving money on the table?
- Is our model resilient enough to be competitive over the business cycle?
- Is it adaptable (scalable) enough to fulfil our longer term goals and ambitions?
The workshop will be practical and hands on consisting of a series of mini workshops. Participants will leave with:
- A clear visual articulation of their current business model.
- A reaffirmation of its fit to the current environment or clear indicators of where it can be strengthened.
- A framework which they can use to innovate their model to create more value for themselves and their customers.
In preparation participants are advised to come along having considered what they believe to be the key components of their story and be prepared to have their model challenged and validated as appropriate.