The Gassman, Frankenberger, and Csik (2014) “magic triangle” framework (below) provides a simple, easy to understand way of forming a solid foundation for your business at any stage of development.
Fig 1 “Magic triangle” adapted from Gassman, Frankenberger, and Csik (2014).
1. The customer (Who) takes centre stage linking the customer to decisions made about ‘what’ is being offered to the customer, ‘how’ it will be delivered, and how customer ‘value’ will be provided and captured as revenue.
2. The ‘magic triangle’ is simple to understand. The ‘who, what, how, and value’ are simple to complete effectively with no ambiguity about information required in each.
3. The ‘magic triangle’ makes it easy to identify business aspects (or circles) that can be adapted to change. Over time the way business is conducted changes with changes in technologies, customer requirements and expectations, suppliers, new legislation and external business contexts. This ability to quickly adapt the ‘who, what, how, value’ strengthens your business survival and provides a significant competitive edge.
4. The ‘magic triangle’ makes it is easier for the business owner to match the business to one of 55 formal business models as well as transfer the information into a good business plan if required.
5. The ‘magic triangle’ is an effective communication tool. The graphic can be used to communicate to customers what your business does, how it does it, and for whom. The image is also an excellent tool for communicating your business when pitching to potential investors for funding.
The full Gassman, Frankenberger, and Csik (2014) academic paper can be viewed at https://www.thegeniusworks.com/wp-content/uploads/2017/06/St-Gallen-Business-Model-Innovation-Paper.pdf
T.O.O.D formulate and innovate business models, business plans, and manage pitch deck content.
#businessmodels #magictriangle #smallbusiness #businessplan #businesssuccess #smallbusinesssuccess #Gassman #businessfoundation #T.O.O.D #smallbusinessmanagement #entrepreneur #smallbusinesshelp #thefutureofconsulting #thefutureofmanagementconsulting #technologyofficersondemand