Today, we’re exactly halfway through the final month of Q3, which can only mean one thing… Christmas is around the corner and it’s time to start planning for 2022, if you haven’t already.
If you’re reeling from unforeseen lockdowns and wondering whether planning is futile, I’m here to tell you it absolutely isn’t. In fact it’s essential if we are going to weather this pandemic storm and come out thriving.
It helps of course if you’ve got a tool to support through the process and even some experts to help. At Grow NZ we are huge fans of the Business Model Canvas, so we’ve taken some time to break down this tool for you and explain how it can help kiwi businesses survive and thrive in 2022.
And remember, the most successful plans allow for the unexpected…
The tool for game-changers
Business Model Canvas is a highly visual strategic management template that businesses can use to develop new business models and document and communicate existing ones. It’s so powerful, it has been described as the ‘tool for visionaries, game-changers and challengers’. The concept, initially proposed in 2005 by Alexander Osterwalder, features nine ‘building blocks’ and, since its initial release around 2008, new, modified, canvases for specific markets and industries have appeared.
Your plan on a page
The nine areas you need to plot on your strategy are:
- Key Partners
- Key Activities
- Key Resources
- Value Propositions
- Customer Relationships
- Customer Segments
- Cost Structure
- Revenue Streams
The Business Model Canvas is one of the simplest ways to get to the heart of your company’s purpose and opportunities for growth. Its visual nature makes it easy to connect with and cuts through the overwhelming wealth of information you often find in strategy documents. There’s no wading through screeds of text, this plan on a page gives the who, what, where, when and how you need to grow.
It is also very useful for identifying gaps in your business and where – if you close these gaps or acquire the capabilities needed – you can create a breakthrough growth opportunity. According to your feedback to our surveys, sales & marketing capabilities are key to unlocking profitable growth for over 80% of kiwi businesses.