Here is a preview of Business Modeling Strategies

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The Business Modeling Strategies, (BMS) material was designed to dissect business information and business strategies to develop similar or improved business models. The BMS program looks at all aspects of a business and guides the user through a modeling process that helps them develop strategies for businesses to start out strongly and experience long term success.

Whether you are starting a new business or looking to improve the business you are currently involved in. BMS is the book for you. Throughout the book we will touch on all the information and will answer all the questions that every successful business owner will encounter at one point or the other throughout the course of doing business.

If you are a struggling business owner BMS recommends putting your current business practices to the test by doing all the exercises throughout this book. Pay close attention to our modeling strategies and try to use them to help build upon and improve your own business practices. 

During this process, record areas that may need improvement and see how you have been doing compared to other similar businesses in your industry. BMS would love to hear your story and has many opportunities available to help you get your business back on track.

If you are working through the developmental stages of starting a new business you are in the right place. Working through this modeling program will help you build, grow and think through the many aspects of starting-up a new business. 

When we think of business we think of things like McDonalds or Wal-Mart but what about the other guys? The ones that keep the lights on and our yards mowed or even the ones that detail our cars. These other businesses are the ones we will be taking a closer look at. 

Although you would be able to use business modeling strategies (BMS) for any type of business, we will not be getting into franchising details in this book. If that is your main focal point or goal, please feel free to contact me for some one-on-one sessions; where we will be able to dive into franchising and its many different facets.

It used to be that you would have to know people or even go door to door in order to find work for your business; but in this new age we have many opportunities to reach out and find our customers. We have access to phones, faxes, Emails, newspapers and, as always, we are able to network with one another. 

We can develop websites and can use other digital platforms that will give us access to a store front and other marketing opportunities. We have social media and the internet that allows us to research and reach out to a number of customers and businesses with ease to not only model businesses but to also make ourselves known to a wider audience.

As you work through this book BMS recommends that you read all the way through it first as if you were reading a story, then start back at the beginning and work through the questions. 

Step 1
Identify your business goals
What are your business goals?
Why do you want a business of your own?
Why do you need a business model?

Step 2
Introduction to modeling strategies
What are modeling strategies?
What a business model is (and isn’t)
Planning your model
Industries; which one is right for you?
Questions and information blocks
Marketing the key to success
Polishing and shining your model

Step 3
Choose an industry
Business examples
What industry are you interested in?
Are you familiar with the industry?
What do you know about the business side of your chosen industry?

Step 4
Assess your skill-set
How much experience do you have to offer?
Do you have management experience?
Have you ever been in a supervisory role?
Can you handle the advertising on your own?
Can you keep the books?
Do you have experience running the software and other programs needed to run your business?
Do you have a place for an office?

Step 5
Assess the demand for your business
Evaluate the demand for your products and/or services.
Who do you personally know that would use your products and/or services?
How many results would you get running an internet search for your products and/or services?

Step 6
Begin modeling the competition
How many successful businesses similar to yours are there in your chosen area?
Has most of your competition been in business for a long time?
Is the competition always busy or are they struggling to find work?
How big is their coverage area?
How close would the competition be to your own business?

Step 7
Modeling strategies for marketing and advertisement
How much can you learn about the competitions marketing and advertisement strategies?
What is your potential marketing arena?
Who, what, why, where, when, how, and will my services be needed?
How do you sell your services?
When should you begin marketing your business?

Step 8
Initial creation
Where to begin?
Do you have a clear detailed vision for your business?
Can you imagine what being in business will feel like?
Can you hear conversations and business decisions being made?
Do you have a taste for the business?
Can you describe your business in a few words?
How about describing your intentions?
What does your company represent?

Step 9
Create your business identity
What are you going to name your business?
Do you have a company logo?
Who are you as a business?
How do you create an online identity?

Step 10
Investigate your location
Where do you live and how does that affect your business?
How big is your coverage area?
Are you in a rural area with few potential customers or are you in the city worrying about being too busy?
Do you intend on working from home?

Step 11
Products and services
What products and/or services are you offering?
How much of each item will you have in stock?
Do you need to purchase a storage area?
Are you going to have a catalog, store front, or both?
What services are you going to offer?
Where do you plan on offering your services?
How many digital platforms are you using?

Step 12
Equipment and tools
Do you have all needed equipment and tools?
Are you proficient in proper tool use?
Are you capable of operating and maintaining the equipment?

Step 13
Start creating you teams
Who is on the owner’s team?
What size of business do you want to have?
Are you going to be hiring some assistants?
Have you developed a thorough job description for every position?
Have you developed a training program for new employees?
Have you developed rules and policies?

Step 14
Mission, vision, philosophy, and core value
Do you need a mission statement?
What is your purpose?
What is your vision?
What are the expressed interests of the business?
What are your goals?
What are your ethics in business?
How will you reach your objectives?
Business modeling strategies; example, mission statement, vision, philosophy and core values. 

Step 15
Getting to know your customer
What will your customer see?
Do people know about your business?
Are you talking about your business and letting people know you are available? (Don’t forget social media)
Who are your potential professional clients?
What do they have in common with you?
What avenue of advertising are they most likely to come in contact with?
What social media platforms are your clients most likely using?
Where are your potential clients most likely going to shop?
What newspapers are they reading?
Do they read magazines, if so which ones?
What interests would your clients most likely have?
Who else offers similar products and services?
How do others reach their clientele?

Step 16
Making the connection
How do you connect with prospective clients?
What is an email signature?
How should you handle your first meeting with your clients?
Why use social media?
Should you have a portfolio?

Step 17
Accounting and monies tracking
Do the dollars you spend make sense?
How do I set up an accounting system?

Step 18
Income and expenses
Remember ---- money isn’t free!
How much capital do you need to get started?
How do you know what to charge?
What is the average median wage for all positions in your business?
How much do your labor hours total?
How many overhead expenses will you carry?
How much profit are you expecting to realize?
How much product will you carry, what is in you inventory and what is it all worth?
How do we break all that information down in a way that will allow us to determine how much to charge per item and/or per-hour for our products and services?

Step 19
Business banking
What comes as part of a business account?
What are payroll cards?
Do you need a line of credit for your small business?
Are you going to need a loan to get the business going?

Step 20
Choose your license
What is a sole proprietorship?
How is a limited liability company different?
What does S corporation mean?
What is different between S corporations and C corporations?

Step 21
Everything taxes
Are taxes really bad?
What should I know about taxes?
Do you have state taxes where you live?

Step 22
5 year planning begins
Where do you see your company going over time?
Where would you like to see your business going over the next 5 years?
How do you see things developing in the first 6 months?
How do you see things developing over the first year or two?
What is in your five year plan?

Step 23
Does the business make sense?
Who?
What?
Why?
Where?
When?
How?
Will?

Step 24
Developing a contract
Why are contracts important?
What are the primary parts of a contract?
What does a simple contract look like?
Example; service contract

Step 25
Discussing invoices
Do I need a certified payment invoice?
What is written in a certified invoice?
Can I use a general invoice?
Should I give and invoice for every exchange?

Step 26
Model estimate forms
What forms will my business need?
What are estimate forms and what information do they offer?

Step 27
Organizing and scheduling
Do you realize the value of a schedule?
What steps should be considered in creating a schedule?
Who will be included in your schedule?
What activities need to be scheduled?
Why would I need more than one schedule?
Where are the scheduled activities taking place?
When will you have time available?
How do you keep track of everything?
Will I be prepared for changes in scheduling?
Do you have time cards?
What does a schedule look like?

Step 28
Discussing marketing tools
Do you need business cards?
Are brochures actually useful?
Where should I target my mailings?
Should you create a former client mailing list?
Are job site signs worth the money?
Would you recommend automobile advertisement?
Should I be listed in the yellow pages?
Does my company need a web site?
Should I be using listing services?
Should I use social media platforms?
How do you get your customers attention?
What should my ads look like?
When it comes to thinking about how you should connect with your customers, should you approach them with advertisement directly?

Step 29
You’re marketing strategies model
What do we need to ask ourselves?
What do my customers think about my products or services?
How do your customers feel about your products?
Do your customers know that you exist?
Have you identified your target market?
What are your strengths?
How do you define your marketing strategy?

Step 30
Readiness check list

Regardless of what you have for your business vision, a business model is crucial to the business creation process, especially if you are looking to attract some financial support to get your business up and running. A well thought out business model will speak to your level of preparedness. It will reveal your dreams for the business and will give a clear picture of your business vision. It will be a crucial tool when seeking some financial backing.

This book includes all the steps you need to consider throughout your modeling process. As you read through the steps answer the questions and decide what strategies are going to work best for your business model. 

Everyone with a goal to open a business needs a model to build their business from. A model is a format of collected information that has been adapted and changed to fit the needs of the business being developed. A business model is not a carbon copy, nor is it an exact match to another businesses name, brand, or identity. Rather it is adapted information based on the working examples of similar successful businesses in you chosen industry.

Giving your business purpose and meaning through a mission statement is important, it will help you begin to visualize and express the interests and goals of your business along with defining your ethics and objectives for the success of the business as a whole.

Your mission statement will be used for many things, it will be a clear well written example of your business, not only will it be the first thing potential employees read in your hiring packet, but, also it will be very useful during your advertising process; it will help you describe to people what they need to know about your business. Let’s break our mission statement down into sections then put everything together in a sentence or two.

To be honest finding your ideal customer is just as important as letting them know you are available and willing to not only fulfill their needs but that you are also available to provide them with their needed goods. When selling yourself or your services through Ad’s you need to present yourself in a clear, organized, well thought-out manner. Let’s spend a little time and create our first ad.