What is Business Modeling Game
What is Business model game ?
This is a regarding a “Business model game”. Why we need Business modeling stage before tackle on your business? What is thinkable of core business modeling process?
1. Customer value proposition - What is customer request than competitor, alternative solution? - Segmentation/Targeting/Positioning for specific customer, Offering, Job
to be done 2. Profit Formula - What is your profit formula among various business model? - Revenue model, Cost structure, Margin model vs. Resource overhead cost
for development and actual promotion stage 3. Key Resource - Defining engineer, Quality, asset, channel, Brand, Design, Marketing etc.
for value proposition in “job to do” 4. Key Process - What is benefit process in transaction of business among
internal/external stakeholders - Design, Recruit, product development, IT process etc. as well as
investment, milestone Business model canvas is very popular tool for quick starting business modeling Why we need Business modeling stage before tackle on your business Startup need more tactical business modeling techniques not to miss any point of potential risk and step-by-step execution of development milestone, market initiative for business development
Lean canvas is useful business modeling tool. Thinking about various aspect of you can think about your business is necessary. Lean canvas modified Business model canvas Business model game process round overview Round 1
Stage 1 Business idea/Team/Market
1. Describe what is business idea? 2. What is required key resource? 3. Where is the segmented market and category? Whom, Where, who like, how much volume based on Fermi estimation Who is current competitor/potential service and product Stage 2 Competitor analysis
1. Substitutes Current or potential Substitutes and competitor 2. What is considered Business direction to go forward? Current or potential substitutes and competitor Stage 3 Differentiate value proposition than competition
1. What is a short of feature and service by competitor? 2. Strategic Business & operation direction What is benefit of core resource for development, platform to be used for time to market and saving cost structure? “Where we are” among Pioneer, Tweaker and settler? “What is direction” to develop product & service as a Single play, two timer and free rider
3. Differentiation Referring to above “where we are” and “What is direction”, define the differentiation of value proposition First value proposition might be modified as thinking about another metrics tool 4. Service and Feature analysis How much is impact for customer interest What is a key point of value proposition learning from previous failure service and competitor ? Pros and cons / SWOT of value proposition GAP analysis for alpha & beta service milestone and investment process Round 2
Stage 4 Targeting customer and identify customer needs 1.Define who will have interest in your service & product Targeting customer from application/service market segment category Demographic and Psychographic analysis why they could interest in this service 2. Identify what is unmet needs (potential needs and hidden problem using competitor solution) Back data through Survey on user experience what they feel at community, chat and interview etc. using another service to listen VOC (voice of customer) Recognized problem and short of service gap by competitor service Stage 5 What is job to be done to offer value proposition 1.Value proposition Define key message of value proposition simply using product and service Valuable enough to pay for using service than endure the current solution 2. Offering What is offering of beneficial point through useful experience in detail 3. Job to be done What need to be prepare to realize the offering in platform, resource, technical, marketing, partnership and channel wise In detail, describe the “job to be done” per offering Stage 6 To-Be
What could be changed in near future after service launching Target customer, Value proposition, Business model for profit could be changed depending the service stage If one of core segment in business canvas is changed, necessary to modification for renewed business canvas per business round Define what is “to be” and related thing to business canvas item and process Round 3
Stage 7 Verification of service for customer feed back before launch It is to verify the service to see if workable for successful launch story listening VOC
1. Who is Buzz maker for word of Mouth Buzz maker team is very important to list up for before starting crowd funding How to give a benefit to Buzz maker ? 2. Booster What is activity to promote and growing use case like customer acquisition and retention of service and interest What is key word in social network service and web How to promote the key word in the SNS and internet? What is leaning from competitor and another success story using digital marketing tool Promotional marketing activity ie. Community, seminar, exhibition show, invitation, etc. What is benefit to the interested ie. coupon, free service? Just cool service is not enough. Keep attraction of user and retention of registered service user number is important. And their buzz maker activity should be rewarded Most of important thing is if customer feel that they are willing to pay for their interest/experience for re-use and service fan to recommend from a user experience of “need it” than “want”.
1.Value fit test Provide the customer user experience seeing if testing board is attractive for user Phase 1 : Story board Story book : pre view and review (sketch > mobile and web) Phase 2 : Interview sheet Product and service survey sheet for VOC Group Who is VOC group and how many people will participated Phase 3 : Score and Graph analysis X Benefit with 5 value item, Y Cost Score: VOC category score / ( n(VOC number) x n(Category question number)) Phase 4 : Feedback on pass/fail process Stage 8 Supporter operating process and business model circle 1.What is required key supporter outside now and future? What is necessary to get help from outside supporter Investor, Eco system player, mentor, patent and custom clearance, community founder, networking/technical expert and other expert etc. for your business Stage 9 Key Resource and cost
1.Key Resource – Key resource is related with offering, job to be done for channel, partnership, development, branding, marketing activity – Define the key resource activity of what is our value chain model and offering in priority 2. Cost – Cost need to be organized per priority 3. Key process Define who is external stakeholders in user, partner, government and channel etc.? Drawing Money, data, product, benefit transaction chart to understand the business model process 4. Revenue – What is Revenue model ie markup, commission, license fee and resale etc.