I continue to dislike the title of the series “……for Dummies”, but I again must compliment the author Jim Muehlhausen of this particular book.
This is a book that addresses problems faced by all business owners, managers and want-to-be entrepreneurs, as it discusses ways to understand, develop and use business models. The author tackles an imprecise concept and sets it into understandable fundamentals germane to most businesses.
Amazon and every book store have literally millions of business books on strategy, creating a plan and related topics. This book takes theory and moves it into practice.
The author, in a simple graphic places a business model into eight areas:
- Market attractiveness
- Unique value proposition
- Profit model
- Sales performance model
- Ongoing competitive advantage
- Innovation factor
- Pitfall avoidance
- Graceful exit
The book also provides useful tips, tools and tutorials on how to use the concepts outlined in the book, which properly positions the business model as the base of profitability
The author knowingly establishes the fact that Business Models can erode and if one is not working to move forward, then reality says one is actually moving backwards.
We counsel many small hotels and hospitality businesses – many are franchised, which can be a positive but there is so much more than the sign on the building.
This is an easy to read resource with practical approaches and the information. Well done and highly recommended!
As always, feedback is appreciated.
John J Hogan, CHA CMHS CHE CHO
John@Hoganhospitality.com Office 480-436-0283 Cell 602-799-5375
Hotelier, Speaker, Educator, Author, Expert Witness