There are various business model canvases that are available online for various businesses. However what leads businesses to adopting a specific model is purely based on their organization organigram, operation strategy and number of departments. Although in most instances, the model adopts various similarities, their uniqueness often emerges from business value propositions. Therefore the need to ensure that your value proposition covers all the vital elements of the customers’ needs is the cutting edge to remaining unique and relevant.
The Brief Check on The Traditional Model & Why It’s Becoming Obsolete
The most notable traditional business models include; direct sales, franchising,advertising-based, and brick and mortar models. This business model rests on offering a variety of options to the target consumer to choose from. Unlike the current modern modeling approach, traditional models had no well-defined strategies and policies to maintain their customers along the pipeline.
For instance, Alex Hormozi’s first attempt to open six gyms and run them co-currently is categorized under the direct sales model. He was initially focusing on offering a service that most other competitors were offering, intending to get a fair share of the target market. However, this did push him into a saturated market, limiting his business growth and, therefore, unable to thrive and make any significant profit.
Traditionally the modeling was based on research and practice that assumed relevant information about a domain could be determined in advance and input a standard design. Once standardization is obtained, the entrepreneur runs the final rollout and launches the product. What the approach meant was that personal and exceptional attention to individual needs and concerns was not exhausted to its fullest. It was more inclined towards the founder’s idea rather than addressing the customers’ needs.
As a result, the new modeling techniques are gradually phasing out the traditional approach to the target market.
The Shift in Focus and Adaptation to the New Modelling Techniques.
Rather than focusing on the traditional approach, Alex gradually discovered a big gap that was still not exploited. He, therefore, took the initiative to try out his ideologies. As the saying goes, “To check how deep the riverbed is, always use a stick or one feet.” Alex initially applied a B2C approach. He introduced his new techniques of Gym Launch by reinvesting his profits into business expansion. With the gradual stabilization of Gym Launch, the acquisition mastermind discovered an intriguing secret for rapid growth. Using his internal funding, he reduced the risk emanating from credit defaults and enhanced his business’s gradual evolution.
During his business growth stage, the niche king was approached by other gym owners asking how he could not only survive but thrive in a highly competitive area with a low margin business. What was terrific about Alex Hormozi is that he offered to purchase their companies and scale them rapidly when other firms struggled to survive.
The idea came about remodeling his approach and focus on the B2B model. As a result, Alex was able to help other gym owners by sharing everything he learned in his experience at a fee. Gym launch was born as a result, and his business took off immediately after establishing it.
With a combination of both B2B and B2C models, Alex has been able to open another affiliate company Prestige Labs, enhancing the concept of Gym Launch and ensuring that the clients can easily access the supplements to boost their fitness and general health.
What the New Model Offers
The new model that Alex has implemented is three-phased. It offers information, performance, and agency support to upcoming and already established businesses. Roughly 4.66 billion people worldwide use the internet (the number translates to approximately 60% of the world’s total population). With the rapid growth of the online platform, much focus has now shifted a significant percentage of target clients searching for information online. Therefore, Alan, through ALAN Company, one of the affiliate companies of Gym Launch, ensuring that your business has an online presence is vital to ensure the going concern concept of your business is attainable.
Through Gym Launch, Alex ensures that the performance indicators of the other gym owners are in check. The incredible author has offered a step by step guide through his ebook. His agency supports other gym owners to unravel their potential and grow their revenues and maintain their influence in their operation base.