Develop a Sustainable Business Plan
Now that you have your entrepreneurial passport, you can continue with developing your business plan. This is no more and no less than a structured overview of all aspects of your business activities. We’ll start with the most basics of all business models: the Magic Triangle. It consists of 4 elements: 1. Your target group, 2. The value you want to produce, 3. The value chain by means of which you want to achieve it, and 4. the profit mechanism (as you need some profit to be able to continue with your activities).
Next, we’ll discuss the Business Model Canvas, as this model currently is the most widely known framework. It includes the four elements of the Magic Triangle, adds a few more, and elaborates on some of them further. There are some variants of this well-known canvas, such as the Mission Model Canvas. This one is designed for organisations that don’t have to or can’t make their own money and receive money to spend as best as they can to fulfil their mission and generate impact. Another one is the Consumer Trend Canvas to help you spot trends in the market and working field.
Finally, we added some information on the LEAN start-up. Our fast changing and complex world needs a business approach that is adapted to that. The LEAN model allows for end-user involvement in the development of products and services, and with it a rapid response to changing circumstances.
We expect this content on business models and innovation to take you the following time to work through:
20 minutes
This introductory lesson will take you approximately 20 minutes to work through, given that you just follow the explanations.
70 minutes
With additional reading, this lesson should take you a total of 70 minutes to complete.
4 hours
With additional reading and a review of the academic articles and advanced concepts, this lesson will take you approximately 4 hours to complete.
If you go through the topics and understand the knowledge offered, you will have the necessary knowledge to get started and to create or innovate a business model in practical terms. You can dive into this course alone or with your partners in crime.
Enjoy!