I recently came across an article / blog which explained the best possible practice to model your business.  I was astonished to see their statistics on the current business world. Studies have shown that even some of the bigger companies in the world have executives at their top most position with no clear understanding of their business model.  Not to mention many of the start ups never thought of a plan or business model before getting into. You would have constantly heard the stat that 9 out of 10 start up fails.  But what as an entrepreneur I dislike, is that no one tells why 90% of them failed and how to fix that.

Think about it for a second, if those CEX and CIxes don’t know what their goals are, how are they possibly going to achieve it. Not to mention that even if they can explain the business model that they are in, not 2 of them show the same picture. So in fact they are reaching 2 different goals or if they have common goals by chance, they have different priorities.

This brings us to the question – How can your start up have a proper business model from day one? Or better yet if you are starting up or have a small to mid size business with multiple stakeholders / partners, how can you see the business through the same lens? How can all the members of your team (Partners, Employees and External stake holder) work in tandem to achieve the same goal, prioritize the same task and achieve success faster and with ease.

As the saying goes “If you can’t measure, you can’t manage” and “Fail to plan is a plan to fail”, it is imperative for anyone in the business to Plan, strategise, execute and succeed.  I will let all your entrepreneurs to kindle your thought proces and to chart out your Business model.  If you have a partnership firm or an initiative, this exercise will really show the areas of improvement.

I will let the genius inside you to work on it and catch up in my next post where I will walk you through one of the Business Modeling practice that I found interesting.  In fact I am starting up a business for which I am doing the same – I walk the talk.

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