It always seems impossible until it is done.
My usual journey begins with a 10 minute walk to the station (currently in the bitter cold). At the station, I routinely pick up the Metro, run (aka walk very quickly) to the platform, and hop (maybe skip) onto the train. If i’m exhausted, i’d start to read the Metro, and then nod off, wishing I had a pillow, and praying nobody is watching (of course, everyone is watching). If i’m more awake than usual, I will read that Metro inside out during my 40 minute commute, and feel good about myself that know a fraction more about the world.
Today I started my journey to Shoreditch, which requires the same route I would take to go to work. Although, today I would spend the day learning about The Business Model Canvas with The New Entrepreneurs Foundation and UCL.
Today was different. Today I picked up the Metro and was instantly reminded that yesterday, one of the greatest men in history left our world. The Metro was coated in articles about Nelson Mandela and his achievements. Mandela saw the need, acted upon it regardless of the difficulties, and gave his life for his people. He achieved the impossible.
So, today I started my day differently. Today my dreams (hopes, aspirations, business ideas), were not so high in the clouds. When learning about The Business Model Canvas, I felt my business ideas truly come alive. I believed in them, and I believed in my ability to achieve them.
For those of you that don’t know about The Business Model Canvas it is
“a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model” – http://www.businessmodelgeneration.com/canvas). For someone like me, the ability to learn such a strategic tool is so important. I don’t really do strategy; I find it hard to put my creative ideas into sections and spreadsheets, but this was really brilliant. This model divides your idea into:
a) Value Proposition (i.e. what value do you deliver to the consumer)
b) Customer Segments (i.e. who are you creating value for?)
c) Customer Relationships (i.e. what type of relationship does each of our customer segments expect us to establish and maintain?)
d) Channels (i.e. through which channels do our customers want to be reached?)
e) Revenue Streams (i.e. for what value are our customers really willing to pay?)
f) Key Activities (i.e. what key activities do our value propositions require?)
g) Key Resources (i.e. What key resources do our value propositions require?)
h) Key Partners (i.e. who are your key partners, suppliers).
i) Cost Structure (i.e. what are the most important costs inherent in our business model)
This way at looking at my business idea really helped me not only connect the individual elements, but also determine what was missing, and what I hadn’t yet considered. I hope it becomes useful for you too.