Apr
2020
Business Model:
Ten practical lessons from the business (revenue) models of ventures we reviewed today (or others you research) as they relate to your venture.
- Focusing on training workers and giving them the tools they need to succeed in your business opens your labor market to anyone willing to work
- Open Hiring Models are an efficient way around attracting unskilled laborers who may not have conventional job qualifications.
- Providing products that work around potential customer constraints such as space or time creates inclusivity and simplifies the processes necessary for customer use, which increases the market outreach.
- Brand associations aid in boosting the recognition and market a venture is able to pitch itself toward.
- Establishing a distribution standard allows a business to track and manage consistent returns.
- Encouraging self-sufficiency by allowing workers to take initiative to network and train others allows for the venture’s outreach to expand beyond its point of origin.
- An open source business model like Barefoot College’s allows for people in different countries to be able to replicate and expand the venture.
- Partnering with community leaders allows for target customers to get the products and services that are aimed at empowering them meanwhile being distributed by trustworthy people.
- Reinvestment initiatives like Reel Gardening’s buy one donate one model allows customers to have a part in helping expand the venture’s outreach.
- Tailoring production to the specific needs of communities ensures that a product can have its intended impact throughout a range of different conditions.
End to end solution
During production, hiring women for the bakery will be key for placing the responsibility of production in the hands of the customers we seek to impact and empower. Their judgement and expertise coupled with partnerships with different farmers and vendors for the ingredients and equipment needed will establish a relationship to keep our producers supplied with what they need for consistent, quality products. Wholesale market purchases will allow the bakery to get the cheapest price on ingredients depending on the number of vendors who have purchased our products. Our vendors purchasing from the bakery in wholesale quantities will allow the bakery to profit off its production yield meanwhile being able to sell the products individually at market at a profitable price. The faster our vendors are able to sell our products, the more incentive the bakery will have to produce more, which will allow us to begin scaling our production and maximizing profits for our workers to benefit from as costs drop and our market grows.