If you were asked to explain you company's business model how would you answer? Would you be able to clearly articulate all of the core elements?
As CXers and business leaders we all need to be able accurately summarize and communicate our company's business model. Many of us in the CX profession struggle to be able to define the core aspects of the business, ie. value proposition, key resources, revenue model, cost structure, etc. This skill is a must-have as it allows us to better understand what propels the business, and how our cross-functional colleagues are measures and what drives their success? It also allows us to understand what differentiates us from others.
A great resource to help you grow your business acumen and your understanding of the business model is a resource called the Business Model Canvas available from Strategyzer.com.
The model evaluates the 9 key elements of a business model:
Key Resources (includes employees)
In addition to mastering your understanding of your business model, we also need to master the skill of presenting a compelling business case.
I've prepared the Better Business Case which asks / answers the 4 questions every Executive will want to know when considering investing in your project or initiative. Go here to learn more about creating compelling business cases.
Looking to further grow your understanding of the business side of CX, contact Janelle for 3 1-on-1 coaching sessions that help you build the critical area of your CX toolkit - firstname.lastname@example.org.
Who is Janelle Mansfield of Amplified Customer Experience:
Janelle Mansfield is a Customer Experience Consultant and she loves helping other CX professionals be successful and achieve their professional goals. She likes to help by allowing her clients to hone their skills through consultative coaching and deliverable review. She also acts as a fractional Chief Customer Officer for businesses who aren’t yet able to invest in a full-time CXO.
She offers customizable consulting services that are tailored to your level of Customer Experience maturity, including consulting, journey mapping, experience design, customer service audits, coaching and deliverable review.