The concept of a business model has become popular recently. It is one of the most important tools used by entrepreneurs when starting a new business. We can also say it is a logical diagram that shows how a business or project will create "value." However, the primary purpose of a business model is to demonstrate how the business's continuity will be ensured. In summary, it shows how the business will make money and sustain itself.
Now you might be wondering why making money is relevant when creating corporate portals. In corporate portals, employees will check the portal anyway, so why do we need to make money, right? Unfortunately, it's not that simple. It is crucial to change this perspective first because we need to make money. There is an internal or external customer (employees or target audience), infrastructure (software, hardware, systems, etc.), and things being sold (usually our content, e-learning, messages, videos, articles, etc.). There are different target audiences, the value offered, channels, relationships, revenue streams (money or success criteria), resources, activities, partnerships (providers), and cost structure.
Educational and development portals, reward and suggestion management systems, performance and competency evaluation portals, recruitment and management systems, internal communication portals, career management, and even newly popular internal social sharing portals...
All these elements are also present in e-learning platforms. So why don't we sit down and design a business model first when creating a portal? Instead, we immediately jump into scope, site map, design, project plan, and even coding. Otherwise, 50% of the investments are wasted. That is why thinking like an entrepreneur before starting a project, modeling the business, and then creating a business plan is critical. Approach creating corporate portals with an entrepreneurial mindset, just like starting a new business.
Let us share a straightforward case study with you; you probably know it as a car brand. For years, it tried to sell airplane engines to airlines but failed. It changed its model and started renting out engines, charging for every hour the engine operated. With this simple model change, Rolls Royce, on the verge of bankruptcy, became the world's second-largest jet engine manufacturer. There are at least 10 different business models within book publishing alone. Therefore, modeling the business, project, flow, and sustainability is crucial! When setting up a corporate e-learning platform, think like you're starting a business, and especially consider this for internal portals. Do you think you're offering your corporate content to those people for free, assuming they'll come and see it anyway? But you're taking their time, which means you're taking your company's time as well. Do you think this is free?
That is why we model first; we draw the big picture. While doing this, ask yourself the following questions:
At Infinity E-Learning, we focus much more on modeling and the continuity of the business in our projects. We believe launching web applications is less than 10% of the job. What needs to be done afterward, content strategies, usage analysis, audience customization, community management, etc., are much more important for the success of web applications.
And we have templates we create before starting projects.
It's best to benefit from our consultancy services before starting your corporate portals, don't risk your success, and start strong.
If you want to add value to your company with effective and efficient e-learning, contact us at [email protected].