MAPPING YOUR VALUE
One key element we focus on and continually revisit, refine and develop at the CRL, is your business model. The sooner you get an initial outline of this down on paper (using tools such as the Business Model Canvas) the better. Then you can build on it, identify gaps, interrogate and continually evolve it.
Last week we were lucky enough to be joined by Ian Bamford and Maria Holgado from the EPSRC Centre of Industrial Sustainability in Cambridge to share some of their tools for start-up and bigger business a like and spend some practical sessions on Value Mapping for their business and stakeholders throughout its lifetime.
The word value has now so often been claimed as one people immediately associate and translate into purely financial benefits, however thinking wider and deeper can reveal many other opportunities to engage your spectrum of stakeholders involved in your product/ start-up in a variety of ways.
Using tools and spending some time looking at that middle part of the BMC, what’s your value, what need are you addressing, opportunities missed etc. through different lenses and then across what this means across the lifetime time of your product is an invaluable exercise and was a real eye opener for many here.
Using the Value Mapping and Sustainable Value Analysis tools the startups looked at identifying priority areas to develop and opportunities to improve social and environmental (and economic) benefits and interconnections throughout the lifetime of the product and the influences to the wider business.
19/02/2016 written by ERICA PURVIS