4 Reasons Why Business Model is Essential

In my last post, I have written about the 9 aspects of Business Model and the tips I learned from Ms. Janette Total of Digitalfilipino.com on how to create one.

Creating a Business Model Canvas seems easy but it can be hard when you do not have a clear understanding of your customer.

Crafting a Business Model Canvas is a tedious job and maybe you are asking,  do we really need to create one?

Yes, we need to create a Business Model because of its importance.

The following are the reasons why it is essential:

  1. A Business model will serve as a guide, to tell you where you are heading. That  is why your Business Model must be prepared specifically for your target customer. Before you go out  and actually do the selling, you have to really understand what business model is. (See here the 9 aspects of Business Model).
  2. It is important to have a business model if you need to hire someone to work for you. Being able to tell a prospective employee or potential agent: what is your Unique Value Proposition; what is your customer philosophy; how do you intend to reach out your customer online and take care of them; who your partners are; what are the resources that are available on your organization; what are the activities you do; what are your cost expenditure and how do you intend to generate revenue to make the business model work will provide them the confidence that they can give what is needed for them if they will join you and to let them see if there is a certain direction or future if they do.
  3. If you are getting investors, business model canvas will assure them that you are not like a headless chicken just running around the business but someone who got the picture or big appreciation of what your business is.
  4. When you have limited resources, it is important to reduce the temptation in trying to reach out as many people as possible. Every product and service has its own business model and also has its own customer segment where the target customers are defined.

 

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Business Model Canvas

Because of its significance and to help the student in the Digital Lead Generation and Customer Relationship Management Webinar for Real Estate Industry Module in filling up their Business Model Canvas, last  April 28, Ms. Janette Toral did a different kind of webinar.

I  already attended several webinars conducted by Ms. Janette, and the webinar she did was a different one because instead of just giving her students some lectures about the topic, she made a demo on how to fill up the empathy map and the business model canvas.

But before that, she presented first the buyer persona template by hubspot.com that can help further in identifying and understanding the customer.

The template is all about customer profiling.

We have to profile our customer and understand them in order for us to provide a better service that is personalized for our customer. This can also make us a designed decision concerning our service. (Click here if you want to download the template)

The Digital Lead Generation and Customer Relationship Management Webinar for Real Estate Industry  is a 12 series webinar every Tuesday at 7pm. Last April 28 was the third webinar for this series.

Interested people who wanted to attend the webinar can still enroll because all materials are  uploaded in the Digital Filipino Influencers boothcamp website . All paid students can access the webinar anytime for this module including the other section in the e-learning site because by enrolling, you will also become a protégée member and will have the privilege to access the other  past modules for 12 months.

If you wanted to enroll or to know more about the topic, then check this link.

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