Your business model is one of the most powerful, individual, and engaging narratives you have to explain the value of your business. For a lot of creatives, it’s crucial to the sustainability of your practice and/or business.
What is a business model?
Your business model defines your customers, what they value and how you can sustain your organisation by providing that value. As one of the top five growth sectors in the UK (according to Teresa May), the creative industries have a very exciting future, taking advantage of the opportunity to innovate how we do business and provide value.
Business Models for Your Triple Bottom-line
Most of our clients are interested in achieving financial viability without compromising their value-led mission and/or not-for-profit ethics. Traditionally, business models focus on the economic impact rather than taking a holistic approach to an organisation.
With loads of innovative approaches out there, business models are supporting us to engage with our audience, evaluate our services and products. They also constantly challenge the value of what and how we deliver. Like the creative bottom-line, there is an economic factor, but it is not the be all and end all when it comes to evaluating the value of services and products to the market.
Reports show that internationally, creative organisations and SME business models are:
‘Fundamentally implemented and managed implicitly, for example – without the use of formal approaches and tools’.
So if we are doing this well without a conscious plan, imagine what we could achieve with a proactive, constantly evolving process which is focused on the value of what we create…
Get in touch to discuss the right business models for you.