Business modeling identifies how essential resources can best be combined and managed to create the most successful products and services, consistent with the strategic direction of the organization and taking into account both financial results and how to create greater value to members and other customers.
Bostrom’s business modeling is a multi-step process that involves:
- Critical assessment and updating of the value proposition for the association as a whole and each business segment
- Provide value by identifying problems needing solutions, pain points needing relief and/or needs to be met
- Assessment of the nature and strength of current and prospective markets and their future potential
- Stakeholder analysis of all product and service lines to identify and assess customers, competitors, and potential partners or affiliates
- Identification of marketing strategies, including product differentiation factors, channels of communication, and critical market segmentation
- Analysis of revenue and cost structures to assess potential profitability and obstacles
- Competitor and pricing analysis that dictate market positioning
- Development of financial strategies and forecasts with timetables, performance targets and exit strategies for key business elements
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To find out more about business modeling or to schedule a personalized consultation, contact Bostrom today.