Business Planning & Solutions For Your Existing Jacksonville Business

Most business owners are familiar with the concept of a business plan – and some actually have one. And a few may actually review and update their plan. But how often do you evaluate your business model? Can you paint a picture that describes the rationale of how your business creates, delivers and captures value? It’s often helpful to step away from the linear thinking of a business plan and create a picture that captures how your business model looks now, and how it must evolve. New business models are challenging the old way of doing business. Can you “reinvent” your business model to remain innovative and be among the dominant players?

“Painting” the canvas of your business model starts with defining your customer segments? For whom are you creating value? Do you sell to the “mass market” or do you have a niche? Do you serve multiple market segments to diversity revenue streams? Once you have defined your customer segments, the next step is to define what value you deliver to the customer. What problems are you helping them solve? What are promotional strategies to communicate your value and your distribution strategies to deliver? What relationships are important to your customers? What’s your pricing strategy? This part of the business model canvas sets the foundation for demonstrating how your business makes money.

The next “picture” on the canvas communicates what resources you need in order to deliver the value that solves your customers’ problems. This includes physical, intellectual, human, and financial resources. What key processes or activities need to be in place to deliver these business solutions? Who are your key partners outside of your business? And finally, what are the most important costs inherent in your business model?

Check out the book Business Model Generation by Alexander Osterwalder and Yves Pigneur, the “creators” of the business model canvas.

You can download the first 70 pages of the book to learn the process of defining (and refining) your business model using the canvas. The pieces of the business model canvas relate logically to the traditional outline of a business plan, including the Live Plan business planning tool.

The SBDC at UNF offers workshops to help start up and existing business owners explore how to develop a business plan to communicate your business model, whether as a feasibility study, operating guide, loan proposal, or growth strategy.

SBDC Footer Shadow Background