{"id":2321,"date":"2024-02-26T11:57:44","date_gmt":"2024-02-26T11:57:44","guid":{"rendered":"https:\/\/mobilizingphd.com\/?p=2321"},"modified":"2024-06-02T09:52:01","modified_gmt":"2024-06-02T09:52:01","slug":"lesson-6-revenue-model","status":"publish","type":"post","link":"https:\/\/mobilizingphd.com\/index.php\/2024\/02\/26\/lesson-6-revenue-model\/","title":{"rendered":"Lesson 6 &#8211; Revenue Model"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong><em>George, how will you capture the value you are offering?<\/em><\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">Watch this interview<\/h3>\n\n\n\n<p>George and Jeroen discuss how to establish a pricing structure to turn value into revenue (and a nudge to talk to more customers!)<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Lesson 6 - Revenue Model [Mobilizing PhD]\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/zfZREKQVUcg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><figcaption class=\"wp-element-caption\"><em>\u00a0<\/em>Time required: 21 minutes<br><em>PRO TIP: click below to download an AUDIO ONLY version so that you can listen on the go!<\/em><\/figcaption><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-align-center wp-element-button\" href=\"https:\/\/drive.google.com\/file\/d\/1q346um4NrTvpU-Zdvxjg5s8Y7mDT4otH\/view?usp=sharing\">\ud83d\udd0a Audio Only<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">2) Review background for this lesson\u2019s exercise<\/h3>\n\n\n\n<p>This lesson, you will be designing a value proposition. Before we start, we need these ingredients that you\u2019ve been working on:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Initial customer segment (Beachhead market) defined (Lesson 3 + 4)<\/li>\n\n\n\n<li>Solution defined<\/li>\n\n\n\n<li>Value proposition defined (Lesson 5)<\/li>\n\n\n\n<li>Read:\u00a0<a href=\"https:\/\/mobilizingphd.us17.list-manage.com\/track\/click?u=d44e08f974365aa4796b3c524&amp;id=aecaeafa7a&amp;e=367b38039a\" target=\"_blank\" rel=\"noreferrer noopener\">The 5 elements of a revenue model<\/a><\/li>\n<\/ul>\n\n\n\n<p><em>Time required: &nbsp;10 minutes, depending on your reading speed<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">A revenue model is the way you capture value. What is the simplest revenue model you can start with?<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/mobilizingphd.com\/wp-content\/uploads\/2024\/02\/revenue-model_MPhD-100-1024x576.jpg\" alt=\"\" class=\"wp-image-2322\" srcset=\"https:\/\/mobilizingphd.com\/wp-content\/uploads\/2024\/02\/revenue-model_MPhD-100-1024x576.jpg 1024w, https:\/\/mobilizingphd.com\/wp-content\/uploads\/2024\/02\/revenue-model_MPhD-100-300x169.jpg 300w, https:\/\/mobilizingphd.com\/wp-content\/uploads\/2024\/02\/revenue-model_MPhD-100-768x432.jpg 768w, https:\/\/mobilizingphd.com\/wp-content\/uploads\/2024\/02\/revenue-model_MPhD-100-1536x864.jpg 1536w, https:\/\/mobilizingphd.com\/wp-content\/uploads\/2024\/02\/revenue-model_MPhD-100.jpg 1921w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>What is a Revenue Model?<\/strong><\/p>\n\n\n\n<p>This and next lesson are about revenue models and business models. Even though people use them interchangeably, they are not the same thing.<\/p>\n\n\n\n<p>A model is a (partial) representation of reality. The business model represents how a business generates and captures value. The revenue model is a part of the business model, it shows how you capture value.<\/p>\n\n\n\n<p>The way you deliver value, i.e. your solution, is required to make decisions on your revenue mode. You can\u2019t set a price on an ill-defined product. Makes sense, right?<\/p>\n\n\n\n<p>Designing your revenue model is fairly easy once you know 1)&nbsp;<strong>what<\/strong>&nbsp;you are selling and 2) to&nbsp;<strong>whom&nbsp;<\/strong>you are selling. If you don\u2019t know those two things yet, go back to the previous lessons.<\/p>\n\n\n\n<p>If you have these two things figured out, check out\u00a0<a href=\"https:\/\/mobilizingphd.us17.list-manage.com\/track\/click?u=d44e08f974365aa4796b3c524&amp;id=726ca18e24&amp;e=367b38039a\" target=\"_blank\" rel=\"noreferrer noopener\">this design guide<\/a>\u00a0of a revenue model. It features a step by step process of the 5 decisions you need to make on your revenue model.<\/p>\n\n\n\n<p><em>Tip: Keep it as simple as possible, you can always make it more complicated.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3) <strong>Do these exercises<\/strong><\/h3>\n\n\n\n<p><strong>Defining the 5 elements of your revenue model<\/strong><\/p>\n\n\n\n<p>Add\u00a0<a href=\"https:\/\/mobilizingphd.us17.list-manage.com\/track\/click?u=d44e08f974365aa4796b3c524&amp;id=1698a097bf&amp;e=367b38039a\" target=\"_blank\" rel=\"noreferrer noopener\">Lesson 6 slides<\/a>\u00a0to your Journey Scrapbook, then use the table and cheat sheet to help you think through a pricing strategy. Good luck!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>George, how will you capture the value you are offering? Watch this interview George and Jeroen discuss how to establish a pricing structure to turn value into revenue (and a nudge to talk to more customers!) 2) Review background for this lesson\u2019s exercise This lesson, you will be designing a value proposition. Before we start, [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":2373,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lessons"],"_links":{"self":[{"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/posts\/2321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/comments?post=2321"}],"version-history":[{"count":1,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/posts\/2321\/revisions"}],"predecessor-version":[{"id":2324,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/posts\/2321\/revisions\/2324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/media\/2373"}],"wp:attachment":[{"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/media?parent=2321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/categories?post=2321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mobilizingphd.com\/index.php\/wp-json\/wp\/v2\/tags?post=2321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}