Our prior entry below from the Florida Small Business Leadership Conference, first paragraph, introduced many to the notion of “Model Mash”. Many want a further explanation, and we aim to please:
Summary of Concept
Combining the Business Model Canvas (BMC Circa 2010) with the SWOT (reversed = TOWS, Circa 1960s) improves entrepreneurship creation planning. Each of the nine components in the BMC goes much deeper, and its use of growing a new business doubles or triples the outcome.
Dr. Randy Blass, Ex. Director of the Jim Moran Institute (JMI) at Florida State brought this idea to ERI-Clint Day in a breakout session at the 2021 Florida Small Business Leadership Conference in Orlando. Having struggled to use the BMC for 2nd stage growth, it hit this editor like a ton of bricks. Huge impact on the usefulness of the BMC.
Models help us simplify complexity. Decisions inside the “front side”of the canvas (or the customer interface on the right), the “backside” (infrastructure on the left side), and the cost and revenues at bottom are easier and better made by adding TOWS analysis to the process. Not to mention the all-important VP or Value Proposition, which with the CS or Customer Segment make-up the critical product-market it.
As example consider analysis of that part of the value proposition from the standpoint of threats, how easy will it be for competitors to duplicate the value idea? Can the product or service satisfy the needs of the customer or are there other opportunities to expand the idea for more product fits?
Together these two tools focus an entrepreneur or his team on the WHY that defines new businesses and frames missions. Components delineated using TOWS create an operating model from strategic plans to use the critical difference upon which the BMC is based, validation. Only the end-user who will actually pay for the product or service can input weakness and threats discovered through questioning. The same can be said for strengths and opportunities inside each component of the canvas (can costs be predicted, are there backup providers for key resources, etc.)?
Dr. Blass uses this “Model Mash” practice in JMI advisory roles helping Florida businesses grow and thrive. He is also kind enough to offer details on Dropbox at the link below and to give credit to Alexander Osterwalder (Strategzer.com) for the concept.
Business Model Canvas
By Clinton E. Day, MBA Editor of Current in Entrepreneurship on clintoneday.com. Dropbox link for tools & details = https://www.dropbox.com/sh/79htxt4x1xarhed/AADw-6XIY- 1tw6tTcHK87Ausa?dl=0.