Product or service
Explore how you can offer a new or revamped product, or a new service. What extra service do your customers want? For example, offer maintenance service on your product. This is called servitisation. Do you provide a service? Offer that service online as well, via a website, webshop or platform. This way, you lower the threshold for regular customers and acquire new ones.
You can also think about a subscription model. Like software companies that offer antivirus programmes. Or use the user-designed model. Here, you make use of your customers' creativity. This saves you time and money as a provider. On your website or app, customers put together their own products, e.g. T-shirts, mugs, puzzles, photo books or wallpaper. You merely execute the order.
Earnings model
An earnings model is an important building block of your business plan and part of a business model. It is the strategy you choose to make money. An earning model succinctly and simply indicates where the real distinguishing strength of your company lies. In short: what are you really earning your money on and is this a future-proof earning model?
There are dozens of earning models to choose from. In addition to selling goods, hourly billing and a subscription, consider personalisation: tailoring your product or service to the buyer. Or the free model or freemium. You share free information or a basic service in the form of an app. For more services, the customer has to pay.
Other revenue models work through social enterprise, the lean startup method and circular enterprise. A social enterprise provides a product or service that meets a social need or aims to contribute to societal and social challenges. For example, a clean environment, fair trade or equal opportunities for all. The core of lean startup is to learn quickly what works and what doesn't. You already enter the market with a simple prototype. With your prototype, you test and measure in the market whether it is liked and how you can improve it. You do the testing with the customer, who provides feedback and helps in the further development of your product. This way, you can innovate without the risk of a major failure.
Management and technology
You can also renew your operations, organisational culture and processes. With new materials and techniques, for instance, you can make your product more beautiful, more sustainable or cheaper. Digitalisation of business processes allows you to work faster, smarter and with fewer mistakes. For instance, digital invoicing, a CRM system for customer management or a digital version of your product or service. A training programme for your employees also contributes to innovation in your company.
Sustainable business
Sustainability is about preventing waste and reduce environmental damage. For instance by using electric vehicles, solar panels and environmentally-friendly packaging. Subsidies are available for a sustainable approach.
Business model canvas
Do you have enough ideas for adapting your service, product or business? Then use the Business Model Canvas to map your company's situation including the new plans. In the canvas, you describe all parts of your business. Think of the organisation, value proposition, customers, suppliers, costs and revenue. The canvas model makes it clear at a glance what your company's strengths and weaknesses are and where the customer's needs lie.
The basis of your business is the value proposition. This tells exactly what added value you deliver to your customers, what your customers are looking for and why they choose you and not your competitor. Have you worked everything out in detail? Then find out whether your business is viable for the future.
Temporarily employed as a self-employed professional
You want to earn something extra quickly. A job alongside your self-employment might be the answer. The extra income from paid employment gives you more breathing space, so you can continue to do business. The combination may have tax implications. Look for a job with an employer who is not your client. Read what to look out for and choose what is most advantageous for you.
KVK Advice Team
Do you have questions about a new business model or the Business model canvas? Call the KVK Advice Team Bel 088 585 22 22.