Before any capital was poured into the business, Client Y approached Joseph Solomon Management Consulting (JSMC) to develop a business canvas and business plan. The client knew the business need existed but needed facts, proof of concept, guidelines and goals before opening. Joseph Solomon was tasked to develop the nine (9) components of the business model canvas and translate the contents into a business plan.

• RESEARCH
  • Worked with the client to extract all thoughts, expert knowledge, driving force and passion about the business concept
  • Attended expert workshops and gathered information
  • Developed a network with the current business owners
  • Scrubbed the internet, periodicals and magazines for data
  • Scheduled tours with the owner at a similar type of business
• TEACHING
  • As information was gathered and the process of developing the business modeling canvas began, JSMC took the time to teach the owner about every major component of the canvas and created a workshop atmosphere for knowledge transfer. Our passion is to teach – this creates a sustainable environment which breeds independence on the part of the owner. The owner will be the one speaking to investors, clients and employees – thus, they needed to know the fundamental reasons and importance of developing customer segments, relationships, channels, building a value proposition, understanding key activities, resources and partners and knowing the cost structure and revenue streams.
• DOCUMENTATION
  • Business Model Canvas: developed with information about each component. A narrative of the business displayed on a single sheet of paper with interconnected components.
  • Business Plan: after the canvas was completed, it was easy to translate into a living document. Financial reports were developed based on the customer segment, activities and projected costs and revenue. Partners, customers and resources were pinpointed with a strategy set for each engagement.
• COMMUNICATION
  • JSMC communicated with the client via phone, text, emails and scheduled meetings. At all times, the client knew what the roadmap, the current plan and next steps were.

The project was scheduled for 3 months and all work was delivered on time. The client was provided with an action list with next steps. The client remarked, “Thank You!”