The Small Business Owners & Entrepreneurs Meetup was small in size but large in design. The smaller group was more conducive to free flow of discussion, as opposed to the times when a larger group held round-table discussions. As always, input is valued.
An attendee had to cut her time short but gave a synopsis of her catering business. We discussed in the short time her business history and some challenges she faced.
I’m always amazed at the variety of businesses that face the same kind of challenges – on the one side, we’re human, dealing with on the other side, a technical nature.
The other two attendees, an artist selling her art online faced some growing pains getting a satisfactory shopping cart software in place. A workplace safety and health consultant who faces the task of talking risk management to those who do not think in risk management terms, is planning on building a training and testing application.
I had the chance to present the business-modelling framework at one point to try to help the business discussion. I presented the framework to pivot different streams of business logic – to streamline the discussion with the goal of creating definitive action.
Thank you to those who attended. It was great meeting new people in their respective ventures. Let’s look forward to meeting at the next Small Business Owners & Entrepreneurs Meetup.
Copyright by FuzzyBit Software Inc., licensed under Creative Commons Attribution-ShareAlike 4.0 International License, https://creativecommons.org/licenses/by-sa/4.0/
Building the model of success. That’s the theme we left with at the end of the year. The model of success stems from your executive stream. It’s you who is in control of the vision and mission of your business and therefore your model of success. What is your driving motivation? Do your customers and clients feel that way about you? Maybe yes, maybe no, maybe maybe.
So, the executive stream is just one of the four streams of your business. Most will focus on the revenue stream. You will also focus on analytical and production streams. All four streams pivot on your core product or service. All four streams together help build up your business model and business plan.
I’ve created a simple web page that illustrates this for you. It shows you the different components of a business plan and how they all support the core products/services that you offer:
Play with it for a while and fit it to your needs. I’ve certainly used it in my product development.
Stay tuned for an upcoming Small Business Owners and Entrepreneurs Meetup. See you soon.
** Note: The web page is published with a Creative Commons license. It’s a very liberal license. You can use it freely, the only stipulation being that the license and attribution stays intact with it.
*** And, finally, why not? This communique is copyright by fuzzybit.com, licensed under Creative Commons Attribution-ShareAlike 4.0 International License, https://creativecommons.org/licenses/by-sa/4.0/
Keywords: business, model, scale
The FuzzyBit app is ready for beta testing. It’s a scalable application in important ways which means it can grow with you logistically, operationally and in design.
Scale is an important factor in business, too. Designing a product or service is great if that is your passion. As an entrepreneur the sooner you can scale your business the better.
What does scaling mean? First we need to understand models. Think of a model car. What do you want to know about that car? Its physical characteristics. A model sits in place of the real thing so that you don’t have to run around in the real-world looking for it. Instead of a car, think helicopter or ship. As long as you have the model, you can measure it and study it without having the real thing.
Having a business model is no different.
Another important point of a model is scale. Back to the scale model of the car. You know that if the model’s scale is 1:20 then you can easily measure the model’s wheel base or length and then scale up. Easy.
Knowing your business model is no different and is a competitive advantage for your business.
There is more to it but I will leave you with this:
I want you to think about your business and ways for you to model it so you can know its scale. That’s it. Until next time, happy modelling.