What’s your business model?

Whether you are running a side hustle or small business, do you have a business model? That’s worth thinking about. Years ago I read a brilliant book which you might have read too titled, Business Generation Model by Alexander Osterwalder and Yves Pigneur. The focus of the book was how to create a business model using a 9-box framework which is straightforward to understand. I believe the ideas can be applied to even a one-person side hustle. The video below is a summary of the business model. Click on the image to to watch the video.

Business Model

Book Review – 24 Assets by Daniel Priestley

24 Assets ssubtitled, Create a digital, scalable, valuable and fun business that will thrive in a fast changing world by Daniel Priestley is about how we can build assets to create successful businesses. Priestley believes that the key to successful businesses is having digital assets that give businesses an advantage and allow them to keep growing.

But Priestley starts out challenging us to think about what type of business we want to build. Do we want to build a lifestyle business or a performance business? He defines a lifestyle business as one that is lean, dynamic, portable and geared towards maximising income for the owner with overheads and stress kept low.

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Book Review – The Entrepreneur Mind by Kevin D. Johnson

The Entrepreneur MindThe Entrepreneur Mind by Kevin D. Johnson is a book full of ideas. The book has 7 chapters which cover 100 mindsets of an entrepreneur from Kevin’s point of view. These chapters are better seen as sections rather than mere chapters. According to Kevin in introducing the book, he writes that:

To be an entrepreneur is to think differently. While most people seek refuge, entrepreneurs take risks. They don’t want a job; they want to create jobs. Their goal isn’t to think outside the box as much as it is to own the box. Entrepreneurs don’t follow the market; they define the market. This bold and seemingly backward way of thinking I refer to as the Entrepreneur’s Mind.

Kevin’s aim with this book is to teach us how to develop the entrepreneur mindset. He wants to teach us from his own entrepreneurial experience how to avoid some of the mistakes he made while at the same time learning how to become a successful entrepreneurs. Continue reading