Guide to Building a Business Model

The entrepreneurial spirit is alive…but is it alive and well? Do emerging entrepreneurs genuinely realize that a great idea simply isn't enough? Today's challenging economic climate demands clarity and transparency in order to seek financing for any venture and ultimately create a successful enterprise. Only after you have conducted comprehensive marketing research, investigating any and all factors that will impact the service(s) you are planning to provide, will you be ready to make a final decision regarding your business enterprise. If you decide to move forward, an important component to aid you in accomplishing your goal is the creation of a strong, well-defined, carefully constructed business model. We're here to assist you with this task by providing and explaining the purpose and architecture of the business model itself.

The most fundamental definition of a business model is simple: A sound business model should explain all the methods and mechanisms by which the business intends to make money. More importantly, however, it must dissect and describe every component of the endeavor in detail and do so in a way that inspires, encourages and motivates everyone involved, especially the investors. Though this might seem to be a cumbersome assignment, it can actually be accomplished fairly easily. Listed below are a few key, suggestions:

1. Provide a detailed, positive and persuasive, marketing statement to serve as your Customer Value Proposition. Ensure that this statement presents a dynamic illustration of why your service(s) are superior to similar ones and how they can benefit clients and create revenue. This statement, should be thorough but also succinct. Don't risk losing the power of your pitch with unnecessary rambling

2. Be unique. Pursue the most innovative options to enhance how you describe your mission and the delivery of your services. Setting yourself apart by seeking creative alternatives is another way to increases dialogue about your company, enhance visibility, and gain the kind of positive feedback that will facilitate valuable improvements and aid you in developing a loyal client base

3. Lastly, but perhaps most importantly, you must effectively explain your pricing strategies and cash conversion cycle expectations. Simply put, explore options that are creative, competitive, and customer friendly Remember, the world is alway

These three recommendations, should serve as a basic guide to assist you in creating a business model that will explain your goals, procure clients and engage investors.

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Questions For Business Owners And Emerging Entrepreneurs

The connotation behind the word "question" suggests concern, doubt and even ignorance. I prefer to think of a question as the pursuit of intellectual clarity. Questions enlighten and inspire innovation, creative thinking, and the serendipitous discovery of positive resolutions. Questions can maximize productivity, minimize disasters, and ultimately facilitate profitable outcomes. Perhaps a simple explanation is that questions require answers and correct answers usually results in rewarding solutions. 

Below is a compilation of thought provoking questions to encourage resourceful reflection among emerging business owners and entrepreneurs. Actually, they might serve as a refresher course for any business professional, regardless of his/her tenure at the helm. 

1. Does your corporate culture enthusiastically inspire and reward creativity and innovative thinking? 
2. Are you working to insure you will be relevant in order to compete within the next 3 to 5 years? 
3. Is your corporate business model strong enough? 
4. Does each employee thoroughly understand your corporate strategy and use it to drive business? 
5. How can you better maximize your bottom-line while minimizing your cost? 
6. Are you paying close enough attention to statistics and trends that impact your business and the businesses of our clients? 
7. Are you effective in developing successful negotiating tools among your sales force? 
8. Do your employees want to succeed for the company as much as for themselves? 
9. How much attention do you pay to the reasons a project/client that was lost? Do you reevaluate every aspect of your strategy to identify things you could have done better? 
10. What steps have you taken to ensure the loyalty of your clients? 
11. If there was simply one word you would want associated with your organization in the minds of your clients, competitors and employees, what would it be? 
12. How can you take advantage of the latest technology without losing a personalized interaction with your clients? 
13. If you weren't already doing business in this field, would you enter it today? 
14. What is your interview process? What did you fail to uncover regarding the worst individual you ever hired? 
15. Do you have a prominent and effective social media/website presence, i.e.: location, information, and navigation? 
16. Are you passionate enough to continue reinvesting yourself in your business? 17. Have any of your clients used your product(s) in an unconventional way? Have you researched that use to develop positive feedback as a marketing tool? 
18. Do you attempt to reestablish productive relationships with inactive clients? 
19. What steps do you take to ensure that your clients know (and truly believe) you are credible? 
20. Do you believe you; your company and your vision will sustain a positive bottom line? Are you committed to the consistent effort and internal drive to ensure that you will succeed in accomplishing this? 

Wayne Gretzky said "You miss 100% of the shots you don't take." Whether you've already taken your shot or are about to, I hope by reviewing and reflecting on these questions, you have gained some insight regarding what it takes to emerge as a successful entrepreneur.

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Corporate Culture = Profits

Developing loyalty among employees in companies large or small remains a fundamental component of success.  Building a corporate culture that fosters allegiance, nurtures creativity and rewards hard work tends to increases productivity and employee retention.  As a managerial tactic, my mantra is a simple one: shout praise but whisper criticism. 

I have found respect is reciprocal and the acknowledgement of one’s efforts is the cornerstone of cultivating loyalty.  Let’s face it…even the most confident among us seek to have our efforts recognized and rewarded. 

One area that is particularly key to building and maintaining a solid corporate culture is allowing employees the opportunity to share in the creative and/or policy-making process.  A healthy dialogue facilitating an innovative exchange of ideas serves to educate, empower and energize the team.  This is particularly effective in smaller businesses.  My personal rule of thumb can be simplified with this analogy: I have ten decisions awaiting a course of action. I engage my employees in these discussions.  Often, their inclusion promotes an eagerness to research and/or seek an enhanced expertise regarding the task at hand. 

Eight times out of ten times I will agree with these employee rendered decisions, a byproduct of which is encouragement and recognition.  Naturally, there are times when I cannot align myself with their solutions, mostly, because as a seasoned CEO my experience has exposed me to outcomes that have equipped me choose a better one. In either case, the exercise usually serves to produce positive results and happier employees.

Who Are Effective Business Leaders?

When it comes to business, a true leader does not have to delegate. He or she will have empowered his team to provide the ideas for the specific task at hand.

However, danger quickly develops when an individual assumes the role of leader while still learning to become one. Being a leader is much like being pregnant – you either are or you are not.

Of course, a there are stages of leadership and leaders must continue to improve or their leadership can become ineffective.   A leader isn’t perfect, nor is becoming one the last stop on the road to success. Rather, each level of leadership is a stepping stone to a higher plateau, which is why the most effective leaders must continue to grow, learn and improve each day.

So – what is the measure of a true leader?

1.     Experience

2.     Learning from mistakes

3.     Continuous improvement

Of course, while these three points may represent the internal aspects of becoming, or maintaining the status of a leader they are not indicative of the comprehensive attributes of true leadership. At best, they may keep one afloat.  Sooner rather than later, however limited leadership will lead to the inadequacies that will lead to disaster unsalvageable relationships and ultimately failure.

The mark of management usually occurs when the manager is not present. The mark of a good leader is his ability to enlighten, inspire, and empower his team.  Successful leaders interact with their teams utilizing positive, productive communication skills.  Via verbal and inferential thinking, they instill confidence and apply constructive criticism by shouting positives and whispering negatives.

For example:  If a leader recognizes a pending problem, their approach toward prevention will determine 99% of the outcome.  Anything else is like calling the color Blue, Red…you can call it one color – but it is always another.

Once one is entrusted with leadership, it is important to remember the need to commit to

·      The continual cultivation of personal growth

·      Gaining the loyalty of one’s team

·      Ongoing awareness of the competition

Effective leadership includes providing the fundamental definition of operational excellence, while remembering to raise the bar on continual bases. Defeating the competition can be achieved when a competent leader as successfully motivated his team.

It is imperative that a proficient Leader also make the tough calls. There is no such thing as expenses, only investments.  The role of a Leader is to determine if the investment will yield a positive or negative return. A successful leader can be rigorous without being ruthless. In addition, a Leader introduced to a new environment must avoid the possibility of initially creating a high turnover within a brief period of without subsequently causing an ultimately diminished turnover and depleted dedication.

Leaders know Packard’s Law, written by David Packard: “If growth rate and revenue outpaces growth rate and people, you will not, and in fact cannot, build a great company.”

Leadership starts with oneself. Like any great structure it requires a solid foundation, vision and an adaptable corporate culture.

Here at ORPICAL our name literally is the foundation on which we will build a company.

What We Stand For:

Optimism –

We expect the best outcome for our employees and clients.

Respect –

The consistent consideration of all we encounter in a courteous manner.

Passion –

Engaging enthusiasm for the positive wellbeing of people, opportunities and our planet.

Integrity –

To be known as individuals and a company of scrupulous integrity.

Curiosity –

Be a company that is always eager to teach, learn and grow.

Altruistic –

 As a profitable company we will have the capital to be devoted to the welfare of others.

Loyalty –

Steadfast adherence to our commitments and what we stand for as a united company.

At ORPICAL we help companies of all sizes increase sales while reducing operational costs. All of our services are performance driven. Therefore, we need Leaders to ensure our performance exceeds expectations of clients while maximizing earning potential for all.

Likewise, it wouldn’t hurt to remind oneself that no one entity is “To Big to Fail”.   Do you remember Blockbuster, Compaq, Borders Books, and the many more companies with proven (temporary) leadership?

More information - contact Ed DuCoin  ed@edwardducoin.com or 856 304 2800