How to Diagram your Personal Business Model the Quick Way

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Complete Video Transcript

English (Automatic Captions)
0:00hey everybody its Tim with business model you
0:03today I’m going to show you how to diagram your
0:06personal business model I’m going to show you two different ways
0:10to diagram your personal business model a quick way
0:13and the slower way this video will cover the quick
0:17way this is appropriate if you’re reasonably confident
0:20your current career direction and you want to see some immediate results
0:25from a basic redesign in another video I’ll show you the slower way
0:29this is appropriate if you’re looking at a bigger career change perhaps a
0:34promotion or a change it work
0:35switching industries or maybe even starting your own business
0:39let’s jump right and then use this guy
0:42as an example although we’ve seen him before yes that’s me and this
0:46is my personal business model canvas I’m going to show you what my campus was
0:51like
0:52when I was a university professor I’ll show you both
0:55before and after versions what you were going to draw
0:59is your has is personal business model
1:03in other words visual picture of what your career
1:06looks like today for this quick approach
1:10I’m going to suggest that you skip Kiwi forces or
1:13who you are and what you have that’s because this is a big topic
1:18that will cover in the comprehensive approach so
1:21star with key activities or what you do
1:25at work as a university professor I
1:28talked I wrote and I did community service
1:32these are three activities at most university professors do
1:36when you diagram your first has
1:40is personal business model I suggest you eliminate
1:43all but one focus on the single
1:47most important activity you do at work for me
1:51that was teaching teaching was the single most important
1:56activity for me and it was the most fun I
2:00next let’s look at customers I had 3 customer segments
2:04students faculty and administration
2:08and the community and these corresponded to the three activities
2:13get but once again I’m going to pick the single most important customer segment
2:18which for me
2:19was students I love teaching students and I feel that’s the most important
2:23role
2:24a university professor now remember you’re going to pick only one
2:29important customer segment in each building block
2:32in your personal business model you want to have only one word or one short
2:37phrase
2:37you’ll see why this is important later on now let’s look
2:42at value provided or how you help
2:46this is the most important and the most challenging building block a ball
2:51its easy to confuse activities with value
2:54and its tempting to think a value as
2:58simply being the opposite a van activity
3:01so for example the result love teaching is learning
3:05who would be easy for me to say well the value I provide is learning
3:09but what I learned over years of teaching entrepreneurship
3:13was that while some students took my courses because they want to start new
3:18ventures
3:18most took my courses because they wanted to become more
3:23entrepreneurial they want progress
3:26in their careers so after years of understanding I realize that the value I
3:31was providing was
3:33helping them advance in their careers
3:37now what was the channel
3:40through which I delivered this value well as very simple and straightforward
3:45it was classrooms there you have it
3:50a simple four-block personal business model
3:54but look how concisely it described
3:57my career I teach students how to advance their careers
4:02and I do so through a traditional classroom setting
4:06now it’s your turn I want you to create your
4:10first as is personal business model
4:13gay start with a blank campus you can print out the personal business model
4:18canvas or you can just draw one hero
4:21next write your name on the campus this is the one time
4:25that you want to brighten your name on the campus itself
4:29otherwise you want to use sticky notes
4:32King to start with activities
4:35list several but then trim it down to just one most important activity
4:40next customers you may have several decide
4:43which single customer or customer group is your most
4:47important then
4:51value or how you help how do you help
4:54that single most important customer this is a real challenge
4:58to describe and then finally how do you
5:02communicate and deliver
5:05value to your most important customer
5:09when you’re done with your model practice presenting
5:12for example I’m Tim Clark I teach students how to advance their careers to
5:17traditional crashing or workshop settings
5:19and I have an online course now as well
5:23it’s very hopeful to be able to tell your story in these
5:27simple terms you might want to try
5:30placing the sticky note
5:33the described each building block has you tell your story
5:38let’s look at an example of how you can use the personal business model campus
5:42to redesign your career remember I was a university professor teaching students
5:47how to advance their careers to the classroom Chow
5:51now I want to reach a new customer segment
5:54working adults who do not 10 universities
5:58how can I change my model first I simply put in
6:02a new customer segment using a different colored sticky note to signify that it’s
6:06brand new
6:08now the power above the personal business model canvas
6:12lies in it’s being a relationship
6:17it shows the relationship between all the different building blocks
6:21in your personal business model and if we look at this it’s clear
6:26that the classroom channel cannot be used to communicate with and deliver
6:31value to working adults
6:32who are not enrolled at the University therefore it became quite clear to me
6:38that I needed
6:39a new channel in order to reach working
6:42adults in my case I thought well
6:46if i cant reach working adults through a traditional classroom course
6:50maybe I could write a book and create a special online community
6:54specifically for that new customer segment
6:59so on my new motto I wrote down book
7:02online community now this campus
7:06is starting to make more sense isn’t it let’s look now at value provided or how
7:11you help the customers
7:14as it turns out value provided is the same for both working adults and for
7:18students
7:19so we can go onto key activities or what you do
7:24now to create a book and a new online community
7:27implies that there’s going to be some new activities
7:31as I discovered books do not right themselves
7:34I actually I had written books before so that wasn’t a new activity for me
7:40but creating a online community was a very significant
7:44new activity so I put this year
7:48build and lead an online community
7:52building and leading an online community
7:55implies that I’m going to have to develop some new skills
7:59some new key resources from my cell and it also implies there’s going to be some
8:04costs not just
8:05time and effort on my part but I probably have to get some partners to
8:09help me
8:10build this website and community and so forth
8:15let’s review this redesign process you can start
8:18in any building block if you’re not making enough money you can start in
8:21revenue in what you get
8:23if you’re traveling too much you can start in costs for what you give twerk
8:27in my case I started with a new customer
8:31so look at the modification
8:34and then trace the changes that are implied
8:38by that modification here we saw that the clashing channel would not reach
8:43or communicate with working adults so we we added
8:46the book an online community value proposition was the same
8:51but creating these this new channel
8:54requires a new activities here okay and then we could continue to trace through
8:59resources Kos partners and so forth
9:04I hope this looks very easy and straightforward when you see it here
9:08but it’s challenging a key point gifting
9:11get those career and work-related thoughts
9:15how did your head and onto paper and with third
9:18place where you can see them clearly
9:21when it to wake them logically and be very intentional
9:25about the way you want to work going forward
9:43in