Define Your Business Model Needs

A business model serves several purposes, one of which is to help you identify and prioritize your business needs to create a strong, sustainable, and strategic business model.

By identifying your personal needs and priorities, your aspirations, and your unique “X-factor,” you set the foundation for making operational decisions that align with what you need from your business, both financially and psychologically.

As you consider your personal needs from your business, think about a few different topics:

• Identify your top priority. Start by identifying the number one thing you need from your business. This is the most important variable in designing your business model. If your business doesn’t meet your primary need, it won’t be sustainable. Your answer might be flexibility, meaningful work, financial security, or something else.

• Define your mission. Your mission is the meaningful impact you want your business to have. It’s not just about making money; it’s about what drives you and what difference you want to make. This will ensure business decisions align with your core values.

• Set revenue goals. Your business needs to be financially viable. Set revenue and income goals based on your priorities, not on what someone else thinks you should aim for. Establish financial targets that align with your personal and business needs. Make sure these targets are realistic and achievable.

• Consider time requirements. Time is a crucial factor in your business model. Determine how much time you are willing and able to commit to your business. Then, you can plan your business model around your time constraints to ensure it remains balanced and sustainable.

• Aim for simplicity. A minimalistic approach reduces complexity and increases efficiency. Consider how you can simplify your business by streamlining processes and reducing unnecessary steps. Focus on what truly matters for your business.

It may seem strange to talk about brand and operations in the same breath, but your brand can influence business operations. We want to ensure that your brand values are reflected in how you run your business. Our brand helps us define where you want your business to go—and where you don’t want to go.

Start by naming three adjectives that your business aspires to epitomize in the minds of your customers.

Then, name three adjectives that other brands aspire to but your business rejects.

Examples of brand adjectives:

Academic / Adventurous / Approachable / Bargain / Bold / Brave / Bubbly / Casual /Collaborative / Dramatic / Edgy / Elegant / Empowering / Feminist / Fearless /Genuine / Generous / Graceful / Honest / Humorous / Inclusive / Inquisitive /Inspiring / Intentional / Joyful / Knowledgeable / Lively / Luxurious / Mature / Modern/ Original / Organic / Playful / Reliable / Resourceful / Romantic / Quirky / Sassy / Sarcastic / Sophisticated / Thoughtful / Transparent / Trendy / Trustworthy / Timeless / Upbeat / Versatile / Welcoming / Witty

As you consider your personal needs from your business, think about a few different topics:

• Identify your top priority. Start by identifying the number one thing you need from your business. This is the most important variable in designing your business model. If your business doesn’t meet your primary need, it won’t be sustainable. Your answer might be flexibility, meaningful work, financial security, or something else.

• Define your mission. Your mission is the meaningful impact you want your business to have. It’s not just about making money; it’s about what drives you and what difference you want to make. This will ensure business decisions align with your core values.

• Set revenue goals. Your business needs to be financially viable. Set revenue and income goals based on your priorities, not on what someone else thinks you should aim for. Establish financial targets that align with your personal and business needs. Make sure these targets are realistic and achievable.

• Consider time requirements. Time is a crucial factor in your business model. Determine how much time you are willing and able to commit to your business. Then, you can plan your business model around your time constraints to ensure it remains balanced and sustainable.

• Aim for simplicity. A minimalistic approach reduces complexity and increases efficiency. Consider how you can simplify your business by streamlining processes and reducing unnecessary steps. Focus on what truly matters for your business.