When completing a Business Model Canvas, it is helpful to guide the discussion through the use of questions. When it comes to looking at key trends that will affect your business model, the following set of questions should help you in thinking more critically about your business model. These questions are broken into four trends: […]
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More and more products can be produced and assembled by robotic assembly lines. Even services, such as those offered by CPAs and stock brokers, can now be performed by software tools or applications such as TurboTax or e-Trade. Recently, I read an article that said that with the threat of a monumental rise in the
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“The year was 1998 and eBay was little more than a glorified flea market with 6 million in sales,” recalls Meg Whitman when she became eBay’s CEO. Three years later eBay had $748 million in sales and 62 million registered users, becoming the envy of the dot-com world. Whitman attributes this growth to persistence and
The Meg Whitman School of Business Read More »
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 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
Four Environmental Forces Affecting Your Business Model Canvas Design Read More »
A few weeks ago my wife handed me a simple battery operated candle that had stopped working in spite of the fact that she had replaced the batteries. Although the candle was designed as a sealed unit I managed to remove some of the wax coatings and dismantled it, only to discover that the wire
Are We Losing Our Inventive Edge? Read More »
We all know that at the Battle of Waterloo Napoleon was defeated by the British. The British victory would have a dramatic effect on the financial world. News in the early 1800’s traveled slowly by today’s standards. Baron Rothschild headed up a large financial empire, and news of a French or British victory would have
Speed of Trending Information Can be Critical to Success Read More »
Starting My First Business With Invisible Fencing Taught Me the Tough Realities of Creating a New Market. In This Piece, I Share the Challenges, Lessons, and Strategies I Learned to Help You Navigate Category Creation.
