DESCRIPTION OF THE PERSONAL BUSINESS MODEL
Business Model You is a professional development tool and the name of the international best-seller written by Tim Clark, in collaboration with Alexander Osterwalder and Yves Pigneur. It is based on Alex and Yves’ original work on business model innovation. In essence, it helps people define their own business model, just as if they were themselves a business.
Users of the Personal Business Model Canvas can discover and summarize visually their own networks, skills, activities, resources, and value propositions on a great one page canvas. The main advantage of this tool, and of the overall Business Model You approach, is that it encourages people to develop a dynamic view of their career strategy and vision.
Instead of writing a typical descriptive resume, the canvas helps to understand how other people perceive their value. Moreover it can help people trying to give a new orientation to their career to identify opportunities.
When the Personal Business Model Canvas is used for the first time. The building blocks and their associated questions typically help people to (re)discover interesting facts they typically overlook about themselves. Later on, it can be used to expand on certain areas of interest or business ideas the individual may have.
Just for the original Business Model Canvas, people must realize that the canvas evolves in time through iterations. Your own business model is dynamic and changes according to your decisions and development strategy. It is also affected by your values, activities, assets, partners, etc.
Watch the video below to see Tim Clark present Business Model You himself before you can start defining the most important business model of all, your own!
METHODOLOGY
WHO YOU ARE/WHAT YOU ARE (KEY RESOURCES)
The personal Key Resources block includes who you are: (1) your interests, (2) abilities and skills, and (3) personality, and what you have: knowledge, experience, personal and professional contacts, and other tangible and intangible resources or assets.
WHAT YOU DO (KEY ACTIVITIES)
To fill this building block, think of the critical tasks you perform regularly at work. Write down only the key activities performed for Customers/partners/stakeholders, and don’t describe the value that is derived out of them yet.
It’s possible that you will come up with a long list of activities, but try to trim that list down to keep the truly important activities on the canvas. Remember that Key Activities (what you do) evolves with time and also depends on who you are.
WHO YOU HELP (TARGET CUSTOMER)
Next, think of who you help. These are your “Customers” or “Customer groups”. These include the people within your organization who depend on your help to get jobs done. This can comprise your boss or supervisor, but really also anyone depending of benefitting from your work.
You may also include Customers or companies who buy your organization’s services or products, your organization's Key Partners, or even the greater communities served by your work.
HOW YOU HELP (VALUE PROPOSITIONS)
In this section of the canvas, you describe how you help people getting their job done and what value is derived from it. When you reflect about your career, this is the most important section of the canvas. What job are you hired to do and what benefits are gained by the Customers?
To help you in that reflexion, you can also think about your Key Activities and how these ones result in Value for your Customers.
HOW THEY KNOW YOU/HOW YOU DELIVER (CHANNELS)
This building block encompasses five key questions related to the main marketing phases: awareness, evaluation, purchase, delivery and after sales. The questions to be answered are:
- How do potential Customers find out about you?
- How do your help Customers appraise your Value?
- How do new Customers hire you or buy your services?
- How do you deliver Value to Customers?
- How do you continue to support Customers and ensure they are satisfied?
HOW YOU INTERACT (CUSTOMER RELATIONSHIPS)
In this building block, you can describe the way you interact with Customers? (face-to-face, remotely, by e-mail or other) Are your relationships characterized by single transactions or by ongoing services? Do you focus on growing your Customer base (acquisition) or on satisfying existing Customers (retention)?
WHO HELPS YOU (KEY PARTNERS)
List here the Key Partners that support you as a professional or help you do your job successfully. They may provide you with motivation, advice, opportunities or even resources.
They could be colleagues or mentors at work, members of your professional network, family or friends, or professional advisers.
WHAT YOU GET (REVENUE STREAMS)
That building block is dedicated to income sources (salary, contractor or professional fees, stock options, royalties, and any other cash payments). However you can add other benefits ( (health insurance, retirement packages, tuition assistance,...).
While going further in refining your Personal Business Model, you can include soft factors, such as professional development, flexible hours, satisfaction, recognition, and social contribution.
WHAT YOU GIVE (COST STRUCTURE)
Costs are what you give and commit to your work: time, energy, and money, mostly. List soft and hard costs associated with your work.
Soft cost may include: Stress or dissatisfaction, lack of personal or professional growth opportunities, low recognition or social contribution.
Hard costs examples are: excessive time or travel commitments, unreimbursed commuting, travel expenses, training, education, tool, materials, or other costs.
