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Posts Tagged ‘Business Model Generation’

300px Business Model Canvas

I decided to apply the Business Model Generation (BMG) methodology, created by Alexander Osterwalder and Yves Pigneur, on myself as a means of providing other team members a personalized concrete example. This started when I was in the process of working through a business modeling exercise for a couple of my IT-related practices. A colleague, not familiar with the BMG methodology, asked if could work through an end-to-end “personal illustration.” The term “personal” provoked me to think about my career,  the work through what I do, and value that I try to create.

As most of us know, a business model describes the rationale of how an organization creates, delivers, and captures value (economic, social, or other forms of value).  Well, that is exactly what most of us do on a day-to-day basis – realize some sort of value. So, with the help of the team, I created the Dr. Jerry A. Smith V1.0 business model and here it is:

Dr Jerry A Smith bmg

CLICK HERE FOR LARGE VERSION

This “attempt” tries to capture four of my key value propositions (strengths) – critical thinking, problem solving, creative insights, and strategy planning. As it turns out, I apply these value propositions across three very different customer segments – IT (information technology), Academia (colleagues and students), and Visual Effects and Film Industry. That was a real epiphany for me since I mostly thought I was deliverying very different values.

One of the bigger insights I have drawn from this exercise is that I am “paycheck poor.” Check out the revenue streams. See a pattern? My revenues are tied only to the income benefits from the companies or universities I work for. If I stop the work, the pay stops as well. From a business perspective, this seems a bit risky.

Anyways, I plan on doing a lot of business model evaluations over the next few week, using the BMG framework. I specifically look forward to the SWOT process as applied to model.

Please let me know what you think about the approach and results (below, email or LinkedIn).

 

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