The questions you ask can produce different answers depending upon your viewpoint. Many centuries ago, there was a village in Europe that was hit by a strange plague. The plague caused the victim to fall into a deep coma that mimicked death. The coma was so deep that the doctors of the day couldn’t tell […]
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As a company grows, things that worked when you were a startup might very well trigger your downfall. For example, what works in parenting a 2-year old will not work when they are a teenager. Moreover, what I say as a soccer coach to motivate my players during practice does not work during a game.
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Most business ideas start small and grow as demand occurs. However, you can also unlock the potential of your idea by scaling it. When an idea is enlarged, it often exposes part of the idea that may affect you in ways unimaginable under traditional planning. As an example, imagine if you were baking two peach
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The other day I went fishing and on my way home, I spotted a bunch of rafters floating on the Arkansas River. I got to thinking that sometimes it is harder to maintain your position when the world around you is moving. For the rafters to remain in one spot, it would take a considerable
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Nothing is more dangerous than an idea when it is the only one you have. When confronted with a problem, most people think, “What is the answer?” as if there is only one right answer. As the saying goes, “There is more than one way to skin a cat.” Creative minds look for more than
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The next and final environmental forces block is “Macroeconomic Forces.” This section is used to determine if your business model can adjust to macroeconomic shifts. This is where keeping up with current events is important. In addition to watching the world and local news programs each day, I use an internet news aggregator that searches
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The next environmental forces block is “Industry Forces” and this section is used to determine if your business model will have a competitive edge today and tomorrow. To understand industrial forces, you need to assess who your competitors are. A tool called Data Axle Formerly called Reference USA (available at many libraries) is a valuable
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The next environmental forces block is related to key trends. The “Key Trends” block is used to evaluate if your Business Model Canvas takes advantage of emerging market trends. Are there any new technologies on the horizon that may undercut your business model? Don’t just look at the advances in your industry that may affect
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The first environmental forces block is related to the market forces of the customer segments in your Business Model Canvas. The purpose of the “Market Forces” block is to verify that your model is in line with the evolving needs of your chosen customer segment. When you are looking at market forces, you should start
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When you have completed the 9 blocks of the Business Model Canvas, you may have a well thought out business model. However, will it stand up in the real world? In the real world, your business will compete for market share and fight for survival every day. For the most part, the 9 blocks that
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