Business Model Development

Business Model Development Services provided by AASC Global

A business model is at the core of any business. Every business, new or existing, should have one. It refers to the profit-making plan of a business. It points to a service or product that a business is intending to sell, as well as anticipating expenses and identifying target markets. A business model is equally important for existing businesses as well as for new aspiring ones.

For an existing business, it is important to update the business plan or they may fail to understand the trends and challenges. For a new and developing business, it helps in attracting talent, investment and plays a role in motivating staff and management. It adds credibility in helping investors evaluate a business that interests them. A common mistake is that people put together a business model which is very different from developing a strong and robust business model. 

We at AASC, pride ourselves in our ability to create a stronghold for businesses through their business model by considering various factors involved.

Plan your Business Model

When developing a business model, it is equally important to know the different types. Just like how there are different types of businesses, there are different types of business models. A few examples are the Subscription model, Bundling model, Razor Blade model, Franchise model etc. As a business consulting/ management consulting firm, we give paramount importance to choosing the right business model for our clients.

Get your Business Model

 

There are 9 elements or building blocks to a business model. Let’s have a look at them:

  1.     Customer Segment: A customer is the lifeline of a business. They pay your bills to your salary. They are the ones responsible for creating a positive cash flow for your business. They are the reason for the survival of your business. It goes without saying that failure is imminent if you don’t get the customer segment right. Our team of management consultants at AASC makes sure of our client’s success by getting the customer segment right every single time.
  2.     Value Proposition: A customer chooses a product or service over the other based on the value they are getting from it. A business creates value either by solving a problem faced by potential customers or by satisfying a particular need. The values a customer prefers could be design, brand, price, accessibility, convenience, risk reduction or more. Our expertise at AASC involves integrating the value that a business creates with that of its customer segment.
  3.     Channels: Businesses bring their value propositions to their customer segment through channels. Businesses can use a mix of channels, both direct and indirect, to reach their customers. Our consultant’s pride ourselves in identifying the most efficient channels for our clients which play a huge part in their success journey.
  1.     Customer Relationship: Once we reach our customers through channels, the next step is to acquire and retain them. Customer experiences are strongly impacted by customer relationships. Among the different customer relationships out there, such as personal assistant, self-service, automated service user communities and co-creation, we at AASC suggest the best one from understanding and studying the client’s business and customers.
  2.     Revenue Streams: It is of two types: one-time customers and ongoing payments. Pricing mechanisms can vary from fixed to dynamic pricing. Generation of revenue can be through a subscription fee, usage fee, sale of the product, brokerage fee, licensing, temporary selling, advertising etc. Our business consultants along with business analysts choose the one that matches our client’s business needs.
  3.     Key Resources: It includes all the resources needed for the function of a business from physical, financial, human resources and intellectual. We at AASC identify and list out the resources needed.
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  2.     Key Activities: It involves tasks that a business must perform to operate successfully. These activities drive the business forward and generate revenue. Our management consulting experience has helped us in identifying our client’s key activities.
  3.     Key Partnerships: There are 4 main partnerships that our clients can use to optimise their business, reduce risk, or gain resources. They are competition—strategic alliances between competitors, buyer-supplier relationships, joint ventures, and alliances between non-competitors. We at AASC choose them based on the requirement of the client’s business.
  4.     Cost Structure: Cost is inevitable for a business through operation, be it variable or fixed cost. There are two strategies a company considers a cost structure: cost-driven and value-driven. It will also consider variable cost, fixed cost, economies of scope and economies of scale.  

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