A business model is like a cube. For an effective business concept to excel, all six sides need to be vibrantly graphic, well-defined, and polished. There needs to be a nice blend of realism, do-ability, and durability complimented with a product or service that is on the forefront and positioned to effectively solve other people’s problems.
As a business advisor for 20 years, I’ve learned that in putting together an effective game plan that there is no need to rebuild the entire model. By doing a SWOT (strength-weakness-opportunity-threat) analysis one can begin to identify the strengths and weaknesses within their business plan. From there, a business must simply fix what needs to be fixed, tweak the strengths and rebuild the weak links into a plan that allows the business to maximize its potential.
Overall, I have found that most people are inherently resistant to change, but love the results that transpire when change occurs. As Anthony Robbins said, “If you do what you’ve always done, you’ll get what you’ve always gotten.” For example, if a certain sales piece is not producing the numbers for increasing and strengthening the top and bottom line, then it needs to be reevaluated to determine what’s missing in the sales concept and process. This requires one to think not only within the box, but to also explore outside the box for answers.
For an effective business model, all six sides of the cube must be working at capacity within a game plan that is well thought out and doable. By identifying weaknesses within the structure, a business can focus on polishing certain aspects of the plan rather than starting anew every time.
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