Boutique Consulting Club - What Exactly Is A Business Model?

What Exactly Is A Business Model?

By Danilo Kreimer – 31 Jan 2023 – View online →

📣

This post is part of a series on consulting business model innovation.

First things first: What exactly is a business model?

When you look at academic publications, thought leadership, and popular research - which I did - you quickly realize that there is no universally accepted definition. It's just a complete mess. That's probably the main reason why most discussions are filled with business jargon and subjectivity.

Among the thousands of definitions of what a business model is and what it contains we can find:

A company's core strategy for profitably doing business.
An outline of how a company plans to make money with its product and customer base in a specific market.
A framework or recipe for making money (by creating and capturing value).
A combination of resources which through transactions generate value for the company and its customers.

In practical terms, a business model is a picture of how a firm does business.

This is a simple and clear definition, but not so useful when we want to better understand where and how to start making changes to our consulting firm.

What does it mean to change or innovate our business model? We need more clarity on what are the different components of an organization. What the levers we have at our disposal to “do business” are.

And to do that, a much more useful definition is that of Osterwalder, Pigneur & Tucci:

“A Business Model describes the rationale for how an organization creates, delivers, and captures value.”

This gives us a good starting point to look at business model innovation. Value creation, value delivery, and value capture are universal functions of every business. If we understand the smaller parts that each of those functions consists of, we can start to look for patterns and possibilities of experimentation.

Tomorrow, we will look at that next question: What are the essential components of a consulting business?

Enjoy these emails? Here are a few more things you might find interesting:

Free Growth Fundamentals Scorecard: Does your consultancy have the right fundamentals in place to grow? In three minutes you can get a personalized report with results and recommendations.

Free Workshop: The Journey Of A Boutique Consultancy: Twice a month, I present a live workshop where you will learn more about what this journey looks like, what kind of consulting business you want to build, and how you can prepare for the challenges along the way.

Key phrases

Free Growth Fundamentals Scorecard consulting business model innovation good starting point Boutique Consulting Club

Older messages

Understanding Business Models

Monday, January 30, 2023

The next topic for a series of posts. Boutique Consulting Club Boutique Consulting Club "Adding Value" Daily Blog Understanding Business Models By Danilo Kreimer – 30 Jan 2023 – View online →

The Inner Struggle Of Labeling Ourselves

Friday, January 27, 2023

How do you call yourself? Boutique Consulting Club Boutique Consulting Club "Adding Value" Daily Blog The Inner Struggle Of Labeling Ourselves By Danilo Kreimer – 27 Jan 2023 – View online →

Missionary Skepticism

Thursday, January 26, 2023

Why claiming the moral high ground leads to endless frustration for independent consultants. Boutique Consulting Club Boutique Consulting Club "Adding Value" Daily Blog Missionary Skepticism

Creating A Zoomed-Out Vision For Your Consultancy

Wednesday, January 25, 2023

A recommended process that's quick and works for solo and micro consultancies. Boutique Consulting Club Boutique Consulting Club "Adding Value" Daily Blog Creating A Zoomed-Out Vision For

Breaking Free From Societal Standards Of Success

Tuesday, January 24, 2023

First, you invent the game. Only then you can keep the score. Boutique Consulting Club Boutique Consulting Club "Adding Value" Daily Blog Breaking Free From Societal Standards Of Success By

Weekly Dose of Optimism #36

Friday, March 31, 2023

Possible, Malleable Software, Taking the Plunge, Age of Average, Genetic Design ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

One niche to rule them all.

Friday, March 31, 2023

This niche is a goldmine. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Synthetic data augments gains in AI

Friday, March 31, 2023

Healthcare services feels weight of the market; firms, portfolio companies scrutinize management teams; Ledger extends Series C with $108M Read online | Don't want to receive these emails? Manage

"Notes" of An Elder

Friday, March 31, 2023

Fear, the most prominent opponent of success, can paralyze anyone. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

🎤 Testing, Testing…

Friday, March 31, 2023

RIP to Sean K from Starbucks. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The TikTok issues marketers should (and shouldn’t) fret over

Friday, March 31, 2023

Also: Publishers' thoughts on the state of media ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Weekend Edition #91

Friday, March 31, 2023

GAN to seek what's best for shareholders, Playtech's LSports stake, RSI exits Connecticut, Entain TAB NZ deal +More ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

📈📈 Revenue is up $12.2k in March

Friday, March 31, 2023

Click to see the full break down... ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Tech leaders AI plea

Friday, March 31, 2023

Pension age change delayed ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

220% more sales from eBay (study)

Friday, March 31, 2023

Doing outbound sales? Then you know sales software like Hubspot Sales, Salesloft, Outreach.io, or MixMax cost hundreds, if not thousands, per MONTH per USER! We've negotiated a killer lifetime deal