The below guide is designed for people working on corporates or businesses which are expanding into new products or markets.
Expanding businesses should pay most attention to the Delivery domain of the canvas (People, Data, Tools and Process) and the Risks area of Momentum. The Focus and Growth domains should be well understood, and can now be adjusted to incorporate the expansion plans.
If you do not what to answer in one of the areas, then include a question or a list of possibilities and then add actions to the Momentum domain to answer these points.
This guide is best used when following the steps outlined as part of the ‘five steps to simplicity’:
focus – knowing your promise
What impact does this business make on the customers and the environment?
- Is this business sacrificing the best interest of its customers for short-term profits?
- How can you strongly re-enforce the fundamental purpose of your business for its customers, employees and other stakeholders?
Who are the perfect customers and what value do they receive?
- Are there segments of customers which should be removed for any reason?
- Are there new segments of customers which can be served with your existing business?
What products or services does the business provide and how does it capture value?
- Are there products in your portfolio which are too general or no longer fulfilling your purpose?
- Are there new products or services you can launch on the edge of business in order to let them scale?
What is the journey the customers experience and what emotions do they remember?
- How do you ensure your teams and processes are designed to stage your branded customer experience?
- What additional experiences can you provide to fulfil your purpose in the market?
- What aspects of your mindset do you need to continue or improve to achieve the above?
growth – sharing your promise
What major achievements are required to bring this business to the next level?
- What strategic projects or activities can you stop in order to re-focus?
- What can you do to discover or open new markets or launch new products?
How is the performance of the business measured and what are the targets?
- How can you monitor costs more closely in order to be more disciplined on spending?
- What metrics should you remove from your management dashboard to ensure proper focus is possible?
What are the markets, channels and competition of this business?
- What markets are no longer feasible and you should consider exiting?
- Can you create new initiatives to test new market possibilities?
What is the unique style of the brand and how is this message shared?
- Are you creating an environment where your people are behaving in line with your purpose?
- Is it time to recreate your brand in order to reach new customer segments?
- +List any specific actions you need to complete on the short term to achieve the above.
delivery – fulfilling your promise
Who are the people with the skills required to make your business a success
- Are there teams who should be outsourced or brought internal again?
- How can you ensure you are creating a culture which is based on your purpose?
What data or information is required or created by your business?
- What data do you have that can be used by algorithms to support your decision making?
- What new products and services can you create based on the volume and type of data you have?
What assets, materials, technology or funding does the business require?
- What assets are now, or may become, a weakness that used to be a strength?
- How can you use your existing platform or systems to support new business ventures?
What are the most important processes of the business?
- How can you optimise your processes to identify and avoid fraud or other types of losses?
- What is preventing your business from operating ten times more productively that it is now?
- Are there any serious risks you can imagine while completing the above?
momentum – managing your energy
What beliefs and attitudes do you need to succeed?
- What do you need to change in order to provide more autonomy for your teams to solve problems faster?
- How can you increase the diversity of background, culture and problem solving abilities within your teams?
What are the short-term actions you can complete quickly?
- What decisions are you making regularly which are simply not required and you can skip them altogether?
- What decision making can you spread through the organisation so your teams can respond faster?
What are the main risks and how can you manage them?
- Do you have succession planning in place for all key roles?
- How are you keeping aware of technology and consumer trends which will impact your business?
Need help accelerating your business performance? Ebullient.com provides various coaching experiences to help you ranging from a business review of your canvas to our one-on-one Elite Accelerator program. Let's simplify together!