Driving Business Growth with BMC and JTBD
The Business Model Canvas (BMC) and Clay Christensen's Jobs-to-be-Done (JTBD) framework are two powerful tools that can help businesses of all sizes identify and develop successful strategies for growth.
The BMC, developed by Alexander Osterwalder and Yves Pigneur, is a visual tool that enables businesses to create a detailed overview of their business model. It consists of nine building blocks, including customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.
By filling out each of these building blocks, businesses can create a comprehensive snapshot of their business, which can help them identify areas of strength and weakness. The BMC is a versatile tool that can be used for everything from new business planning to re-evaluating an existing business model.
Clay Christensen's JTBD framework, on the other hand, is a customer-centric approach to business strategy. The framework suggests that people buy products and services not because of their features, but because they have a job to be done. For example, someone might buy a drill not because they want a drill, but because they want to make a hole in a wall.
By understanding the job that customers are trying to do, businesses can develop better products and services that meet their needs. This framework also allows businesses to identify untapped markets and opportunities for growth.
So how can businesses combine these two tools to drive growth?
First, businesses can use the BMC to create a detailed overview of their business model, including their customer segments and value proposition. This will help them understand their existing market and how their products and services fit within it.
Next, businesses can use the JTBD framework to understand the jobs their customers are trying to do. By identifying these jobs, businesses can develop new products and services that better meet their customers' needs. For example, a company that sells drills might realise that their customers aren't looking for a drill, but rather a way to make holes in their walls. They might then develop a new product, such as a wall-mounted hole-making machine, that better meets their customers' needs.
Furthermore, the BMC can help businesses identify key resources and activities required to develop and market their new product or service. The JTBD framework, on the other hand, can help businesses understand the customer's perspective and develop a better value proposition that addresses the customer's job to be done.
In summary, the BMC and JTBD frameworks can be used together to drive growth in a business. By using the BMC to create a comprehensive overview of their business model and the JTBD framework to understand their customers' jobs to be done, businesses can develop better products and services that meet their customers' needs. This approach can help businesses identify untapped markets and opportunities for growth, as well as improve their existing products and services. Overall, these two frameworks are valuable tools for any business looking to develop successful strategies for growth.
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