Gems





This week I was able to read This Simple Little GEM Can Help Your Business Grow and Grow by Stephen W. Gibson. He pointed out his three main points he felt that were  applicable for business growth. I found myself agreeing with his points but I felt the argument was not full. The three different aspects of business he pointed out were: Gathering, Enhancing, and finally Marketing. So I wanted to see if this was true as I have been thinking about my $100 challenge. So I went to the Business Model Canvas and tried to evaluate if these "three gems" could really fulfill all the needs of this canvas.

The Categories of the Business Model Canvas and the applicability of the "three gems":

1. Customer Segments- 
2. Value Proposition-
3. Sales Channels-
4. Customer Relationships-
5. Revenue Streams-
6. Key Resources-
7. Key Activities-
8. Key Partners-
9. Cost Structure-

Upon reviewing each of these categories I noticed that as a business owner and entrepreneur can "gather" data for each of these sections. Surely if you and I want to be successful in business we better go through a cycle of "enhancing" which may look something like this (See The Startup Owner's Manual By Steve Blank and Bob Dorf):

1. Gather and Create Business Model Canvas and Generate Hypothesis
2. Test Problems ("Gather" Data)
3. Test Solution or Value Proposition ("Gather" Data) 
4. Pivot or proceed ("enhance")

As for the final gem of "marketing". One of the biggest problems Sir Richard Bronson pointed out in Start Up Mistakes that stood out to me was this simple statement "A mistake often associated with the first step is signaled by an entrepreneur's inability to clearly and concisely convey his idea."

$100 Start-Up Challenge Up Date: $0 Raised

The hardest thing that I am coming into contact with is picking an idea that I actually want to pursue. I feel I can make any of these ideas work but which one do I actual want to spend my time working with? This week I hope to finalize this issue. I find myself thinking about each and every idea "To Be? or not to be? that is the question!" -Hamlet