Business Model Brain Snacks: Pay-per-use
Welcome to the first edition of the Business Model Brain Snacks! In this series, we introduce new concepts around business modeling, such as novel business models, ways to transform your business model, and methods to scale your business. If you like this content, please follow us and share this…
Increasing the value of your disruptive innovation
If you have a disruptive innovation and a sound value proposition, why would your sales still not be as high as expected? This is what often happens to the most innovative solutions. Consider the example of electric vehicles (EVs). Car firms still seem to struggle to break into the mainstream…
Creating customer value
The value proposition is all about creating customer value. But how do you do this? A value proposition describes why a customer should buy a product or service. In fact, it should target a very well-defined customer segment and convince potential customers that the product or service will add…
Sizing your beachhead market
To estimate the size of your beachhead market you must consider the various subsets of a market and research into each one to understand the dimension of each subset: the Total Addressable Market (TAM), the Serviceable Available Market (SAM) and the Serviceable Obtainable Market (SOM). TAM, SAM,…
Who is your End User?
Once you have identified your beachhead market, you dive into it for a detailed analysis of your End User Profile. In the article “Know your customer” we already covered that you have to know which product or service your customer wants as well as who the Decision-Making Unit is. Now, using…
Your beachhead market
Beachhead strategies have proven their success since the Allies’ D-Day invasion of Normandy in 1944. The Allied forces established beachheads on the shores of Normandy as a key starting point for gradually conquering all Nazi-controlled territory. Similarly, selecting your beachhead market is…
Market segmentation
Market segmentation is the process of exploring the world of potential market opportunities before blindly diving into deep waters. It’s about taking a step back to the full view of every possible market (brainstorming), reflecting on which ones inspire and attract you the most (narrowing), and…
Know your customer
Once you have figured out your strategic business plan, you dive into it for a detailed analysis of your End User Profile. The main goal here is to be sure that you are developing your product/service focused on the real human being who will be using or buying it, rather than around your own…
Strategic business plan
“Albert Einstein was on a train. He could not find his train ticket after searching through all his pockets and bags. The conductor approached him and said something to the effect of, ‘Dr. Einstein, everyone knows who you are. We know that Princeton can afford to buy you another train ticket.’ To…
Develop your financial plan
As we have learnt in the last Smart Hub Article, one of the things to be considered for the business to generate incremental growth is the amount of capital. Therefore, the financial plan is an important task. Your balance sheet is where you want to get to see what your business is worth.…