Seventhman Blog

Thinking Fast, Building Faster with a Lean Business Model

"lean business strategy"You may have been doing everything in order to market your products and/or services, and yet, you still wonder why your efforts seem to be in vain.  There’s an adage that goes, ‘if what you sell is good enough, it will sell itself..’ and just how true this is can only be measured by one word: Quality.  But, in a world where digital word of mouth is amplified more than ever, just how can you create a winning strategy to build that sense of trust among your leads, prospects and customers?

When Less is Truly More

Whatever you are offering out there, know that your product or service exists to provide a real solution to a real problem.  Take note that I’m highlighting the word ‘real’ – which is something that everyone is looking for these days, from testimonials from real people to authentic information in your website.  Gone were the good ol’ days when your home page looks like a digital brochure that people can navigate through; you have to connect with your audience and learn new perceptions in this social media age.  But, what’s more important is learning how to segregate the clutter from what’s necessary and when you do, you will be just a few steps away from creating an irresistible product that speaks for itself.

Building Value and Cost Containment: When Going Lean Matters

These days, your customers’ voice matters more than ever and involving them in creation of new products/services may seem appropriate… and when you do build it, they might want something else.  So, how can you accelerate the brainstorming process for your business to grow faster in this age of uncertainty?  The answer may just lie in going lean – as in, the Lean Business Model Canvas.  Finding a niche is crucial as it gives you a chance to focus on a specific target market.  You don’t want to be everywhere serving everybody.  This will mean you have to get the best bang for your buck with a productive process wherein you can maximize creation of value for your customers with fewer resources, therefore, eliminating waste.

Developing Strategic Partnerships with a One-Page Plan

The lean business model is not only ideal for startups or small businesses, but it can also be applied to outsourcing as well.  The key here is to optimize technologies, manpower, assets to provide value-added products and services to customers.  Think of it this way, customers are smarter these days and to meet their ever-changing demands, you have to respond in a lightning speed where high quality + lower cost = productivity.  Many may have this misconception that this lean concept is only suitable for manufacturing and that’s not really the case.  It may take time getting used to shifting from traditional business models, no doubt.  But, the beauty of this model lies in its simplicity and flexibility that help you identify what matters most to your business right now, in just a page.  You can easily identify your key partners, key activities, key resources, cost structure, customer relationships, customer segments, channels, revenue streams, and value proposition – and arrange them accordingly as you can see in this lean business model canvas template.  Now, that’s giving you a bird’s eye-view, minus the complications of drafting a 30-page business plan.  You can then create a flow of process and methods to achieve a viable product, minus waste, and perfect that value you’re creating.

At the end of the day, the only way you can innovate ‘innovation’ is through continuous improvement and this time, you may simply have to go lean… and mean.