Creating a distinctive business begins with your ability to deliver results and become known for what you uniquely offer. This is directly related to providing a consistently valuable customer experience that stands out.
The right business model helps you in delivering on that distinctive value. When your business model is working well, your business is profitable, attracts enough great customers and clients, serves them well, and allows you to do work you love while providing you with the lifestyle freedom you want.
Key Building Blocks of a Distinctive Business Model
Your business model is about more than just what you sell. It’s the alignment of several areas of your business in a way that attracts the right customers and serves them exceptionally well. As you read through the building blocks below, think about how each are working in your business now. Notice any disconnects as well as strengths you can build on.
- Mission: Your mission is the impact you want to make. It’s the purpose or promise of your business. Your mission heavily influences your business’s goals, and the philosophies behind them, as well as how you serve customers and prospects. It’s what your business is all about!
- Market: Your market is who you specifically aim to serve, and how you reach them. You can’t be all things to all people. So your model needs to meet your ideal clients where they are because there are different kinds of buyers who want different kinds of experiences. Know exactly who you serve and what they most want. There is no such thing as one-size-fits-all.
- Message: Your business’s message should convey who you are, who you serve, what you stand for (your mission) and the transformation you provide. It should be succinct and compelling, and capture what makes your business unique.
- Revenue/Service Model: Your revenue model is how you serve your customers and clients. It includes the products, programs, and/or services that you offer. This is how your business brings in money and delivers value to customers who do business with you. Make sure that your services and products are aligned with how your customers want to be served and supported. And that what makes you unique is clear, compelling and featured powerfully in your service model.
- Systems and Support: This is about how you set up your business to fulfill the mission and deliver your services and products. Here, we’re talking systems, processes, policies and support, including your internal operations and your team. It’s important that the experience your customers expect is delivered beyond the sale. This can make or break your business.
- YOU as the CEO: As a business owner, you are responsible for leading the business. Your feelings about your business will naturally spill over into every aspect of your company, from how you work with your team members to how you sell to and interact with your clients or customers. When your work is energizing and fulfilling, you’re more effective as a CEO. If your business model causes you to feel stressed, overwhelmed, bored or that you’re sacrificing too much in the name of success, the business will struggle. Your model has to meet your needs too, not just those of the market or your bank account.
Chances are, if your business model is out of alignment right now, you know it, because something listed above isn’t working.
The good news is that you can adjust the building blocks of your business to better fit your unique wiring and your customers’ desires. When you do, your business will grow and thrive.
The best place to start tweaking your model for an impactful, fulfilling business is with Discover Your Trailblazer Quotient. This Assessment & Action Guide will quickly help you pinpoint the model and direction for your business based on how you are uniquely wired to succeed. Get it at www.discoveryourtq.com.
Remember, when your business is in alignment, you feel fulfilled and satisfied, and so do your customers! Your business grows, your income increases, your reputation expands and you build great relationships with the people you’re here to serve.