Here is the final mini-training on Business Models and Business Planning. Step three of the process is asking yourself, "What are my resources and capabilities?"

Resources and capabilities create and deliver the value proposition. They are the means by which the promises to the customer are kept. Listening to the presentation takes only six minutes of your time. To get a handle on the big picture, please listen to the other mini-webinars which are presented below.

In today's mini-webinar, we continue to use the business model template that was developed by Harold Star, author of Chickens and Pigs.  In the previous posts, we discussed the four types of models. Each of these models is built around the customer's expectations.  Now, we look at the second step in the process: writing  compelling value propositions. What will you offer your customer that will materially benefit them? Why should your customers buy from you? Don't just listen to the information. Do a little organizational soul searching to see if what you are offering is what your customer really wants or needs. The mini-webinar is less than 10 minutes long.  Enjoy!

Who are you targeting? What do they want or need?  It may not be as cut and dry as it appears. We can answer these questions in a general sense through the lens of business models. If you have not, take the time to listen to our previous mini-webinar to get up to speed on the four types of business models. Remember, we must get to know our customers. You will begin to see patterns of buying behavior, demographics, and psychographics.

Today's mini-webinar is less than 4 minutes long. Other items that may not be covered in the webinar are:

• Be ethical. Let your customers taste a new flavor of authenticity.
• Take the time to get to know the customer. Don't be presumptuous. Ask questions. Listen, Listen, Listen.
• Gather feedback from current customers. 
• Don't overpromise and underdeliver. Admit when you are wrong.
• Sometimes your target market and your customers are different. For example, when I was founder/administrator of a school, our target was elementary aged students, yet our customers were their parents.  Customers are the ones who pay. Customers might not be the end user of your service or product.

Today, an old friend introduced me to his partner and their new business venture. I must admit that I was initially very skeptical.  It didn't take long for the demo to take away my cynicism. Then, I realized that this is my natural tendency and, I believe, the tendency of most potential buyers. Therefore, since we have been in our customers' shoes, do everything possible to put them at ease.

Today's mini-webinar is approximately 8.5 minutes long. It covers what I believe is revolutionary insight into businesss planning using a business model approach. This mini-webinar is based on extensive research by Management Professor, Harold Star.

The four models are customer focused. They are:

•Pigs – Solve Customer Problems – Characterized by nonrecurring revenues, uncertainty in active customers, project-based, relies heavily on human capital, relational, moderate risk

•Chickens – Manage Customer Problems – Characterized by recurring revenues, certainty in active customers, customers stay in the pool longer, relational or nonrelational, low risk

•Locusts - Activators  – Characterized by repeating revenues that are generally small, but nonrecurring, tons of customers, nonrelational, large upfront investment in technology or physical buildings, activates mass customers by appealing to their needs and desires, high risk

•Black Widows – Partners – Characterized by recurring revenues, single large customer, relational, very high risk

Listen now to discover best model for start-ups!

What is your current business model?