Fundamentals of Business Modeling
There are several characteristics of successful business modeling. Keep in mind that your own personal integrity comes through in your everyday business. What this means is that your business will be as strong and resilient as you are, and the fortunes of your business will rise and fall according to the intentions you have behind it.
Some of the more traditional business models have become antiquated, copying outdated business practices. Businesses built on decrepit business models often will start with a “bang” but quickly fizzle out. So, what makes a business model outdated? Mostly, it’s the failure to remember that today’s society has communication at the speed of light. Yes, the traditional business models may feature personal service, one-on-one attention, and hand-shake guarantees, but it also needs to include emails, tweets, Skype, and, yes, Facebook. Without this technology boost, your business can quickly die due to loss of circulation–you have to keep adding new customers, even as you maintain your current ones. The business model that ignores social consciousness is doomed in today’s world.
Basically, by including social networking in your business model, you are strengthening the chain of commerce. From construction of your product to consumption by the consumer, the design, development, marketing, and delivery is part of a bigger business model that balances your communication and profits.
No, you don’t have to be one of these celebrities who tells everyone they are about to go to bed. But you can be a business owner who has an automated program tweet your established customers about an upcoming sale. Giving your established customers a first chance at the sale makes them feel special and, most of all, appreciated. This type of appreciation is a momentary effort on your part–you write the tweet and insert it into your automated calendar. And it means that your clients know that you have not forgotten them. This is a type of integrity that is absent in many of today’s business models. Too many businesses strive to add numbers while neglecting the customers they already have established. It is impossible to proceed with a prosperous business if you do not entertain your current clients/followers.
Your traditional business model, which focuses on customer service and customer loyalty, can be enriched by social consciousness. It’s not that hard, and it can keep your business in the public’s eyes.