Lesson 17 Chapter 2 Module 2

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Video Transcript

Hello, my name is Neil Morecraft and this is Autom8, and in this module, we're going to talk about strategy. We're going to talk particularly about business model, canvas, and what a business model canvas is, why you need one. And then we're going to have a look at the value proposition, and there's a complex version of that. And a simple version of that, a not only are we going to look at those. We're going to actually do that exercise.

So a business model, canvas, think of it like what used to be an old business plan, you know, back in the day, you might put together a business plan when you're starting a business, and that could end up being 20 or 30 pages long or something like that. And then you'd maybe condense that down into what we used to call an executive summary. And that's a sort of document that then you would use to drive your business forward. And in particular, if you're looking to go and raise money, that's the sort of thing that you'd have to show investors. What a business model canvas is a bit like that, but it's a visual representation on one bit of paper and it just gets you to focus on the right things at the right time. And it's a much, much simpler way of strategising. And then as I say, we're going to have a look at the business proposition, the value proposition, sorry, and a couple of templates there to help you out. So on that note, we'll dive over to Asana, make sure that you're in the right workspace. And you see that in here fact in each of these two sub-tasks are downloads to some resources which we'll come onto later. But in the meantime, we're going to go over to a site called Strategyzet

So you'll find that link in here in the strategizer task. And this site, you can pay for it. There is a paid service, but I don't suggest you actually do that at this stage. If you're a bigger business, you know, if you've got a team of 20 or 30 people or something, then maybe you want to look at, invest in a little bit of money into this, because there are some really good tools, ultimately, when you become that kind of size team. But if you're just a solo guy, you're working with a small team, sort of five or 10 people or something like that, you don't necessarily need to go and pay for this, but you can just sign up for free. And when you do so you'll end up with a little dashboard like this. And in that dashboard, there's a couple of training videos.

One's talking about the business model, canvas and, and how you can craft that. The other one is talking about the value proposition. I won't look at those videos now, but I will suggest that you do. And then in your resources, you'll find that there are two downloadable resources, which in fact, are already contained in your Asana workspace, which is this business model, canvas and the value proposition. So we'll take a look at those now and show you what they're like.

So just make that bigger. So this is the business model canvas. And as I say, once, you've watched the video there on the site, you'll know what these key things are. But the, the task is really just to go through and think about all of these various different areas and make sure that you're very clear on what it is you're doing and who you're serving and that kind of stuff.

Now it may look easy, but you'd be surprised. This might take you a bit of time. You know, so partners, for example, you might not have any, you might not even thought of having in partners at that point. And if that's the case, then that's fine. Move on to the next bit. When you start to think about your key activities, it really makes you focus on what your core product is. And when you understand that, but of course you can translate that into your value proposition equally with the channels to market, you may have thought about our work, promoting it through our website, or maybe we do some events or whatever. But of course there are different channels of your website. Is it Google? Does it Facebook? Is it LinkedIn, et cetera, et cetera. And you don't want to try and have too much going on.

And again, as you start to write this down in the segments, you'll see where there's gaps and where there's not. And equally, when you look at your revenue streams, you don't just want to say, well, we can make money by doing this, this, this, this, this, this, and this. You want to say, we make our money through advertising, or we make our money through direct sales or whatever it might be and be really focused. So it's not about putting lots of information on here. It's about putting key information on here and then knowing exactly what it is you do. So, as I say, you can find the videos back in this strategyzer website and say, they're definitely worth watching. And they're only short videos. And as I say, they're free, but that will give you a much better indication of how to complete that.

And when you've done that, that task is done equally, when you, when we look at the value proposition, there's a similar process. Now this does get a little bit more complicated and the two things you might think, you know, what, at this stage, this isn't worth doing, it is kind of worth doing. Because again, the more we understand about this, the better, and this talks about the pains and the gains from your customer's perspective. And when you understand that better, it can translate easier into what become your written value proposition which is this thing here. So again, in Asana, you'll see there's a template to the value proposition template. And I've put this together really just as a condensed version to help you craft that message.

So it explain what it is. And then this is the formula that I use and I would suggest that you use, because it kind of makes sense and it's just really easy. So yeah, I help whoever it is, you help to solve whatever problem you're solving and get the result they want, the desired result they want through ideally your proprietary method. And if you haven't got proprietary methods, you kind of think about ways you might be able to put a spin on that and come up something that is your own. And I've given you a few examples here. So I help small business owners compete online across the competition, through my cost effective digital transformation process. You might have heard me talk about that obviously. And there are some other examples for you to get the idea, but as I say, if you use this formula, it's pretty straightforward. So your task at this point is to go back into the strategyzer website, watch those two videos, download the resources from a sauna and then complete those. And when you're done that, that spits out the way you save it in your project folder and we'll move on. So with that in mind, I'll see you in the next module.