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Planning Your Business

In preparation for the In-Residence, watch the four short video clips below (less than 15 minutes total). The first video, “What is a business model” explains the major components of a business model. Whether you plan to develop a start-up that inspires innovation or you want to reinvigorate an already established department or organization, creating a business model might help. As the first video notes, “modern business is a continual re-evaluation” and thus, business model planning is not just for start ups. The second and third videos describe a specific tool for business planning called the Business Model Canvas. Finally, the fourth video, “How do you write a business plan?” is a slightly different style from the business model canvas. You may prefer this approach.

For the discussion this week, consider the concepts and information in the videos. Then, appraise where you already feel confident and predict in which areas you might need more training in order to feel prepared to start your own business (or reinvigorate an existing department or organization). Remember, this is not just any kind of business; your job will be to create a culture of innovation in a chosen start up or existing organization. Finally, design a plan to identify resources you might use to develop in these areas. In follow up posts to your peers, provide one another with ideas for where they can find resources or how they can develop in specific areas.

  1. What is a “BUSINESS MODEL”?
    1. (Links to an external site.)
    2. 3 min
    3. Download “the business model canvas” or attach the pdf
  2. Business Model Canvas Explained
    1. (Links to an external site.)
    2. A 2 minute overview of the Business Model Canvas, a tool for visionaries, game changers, and challengers. This method from the bestselling management book Business Model Generation is applied in leading organizations and start-ups worldwide.
  3. How to draw a business model canvas
    1. (Links to an external site.)
    2. 4 minutes 35 seconds
    3. the video describes the 9 blocks of the business model canvas
  4. How do you write a business plan?
    1. (Links to an external site.)
    2. 3 minutes 14 seconds
    3. In this how-to video, you’ll learn the basics of writing a business plan.

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