Segment 9 (2020) Business Model - Thursday, November 12 - 10:00 to 11:00 AM Eastern USA

[Paul Terlemezian]

Overview: Success may obscure flaws in business models. Problems may be aggravated by business models that allow for these flaws to remain hidden when success is no longer providing "cover." What flaws in your business model have been revealed and remedied? Where are you open to suggestions for remedies?

Panelists:

• Jack Bergstrand https://www.linkedin.com/in/bergstrand/
• Eric Bluestein https://www.linkedin.com/in/eric-bluestein-3571484/
• Vivian Chan https://www.linkedin.com/in/redthreads8/
• Jim Everidge https://www.linkedin.com/in/jimeveridge/
• Michelle Prince https://www.linkedin.com/in/michelle-prince-dm/
• (Alternate) Bill Crose - /https://www.linkedin.com/in/billcrose/
• (Alternate) Hal Schlenger https://www.linkedin.com/in/halschlenger/

Moderators:

• Jen Matthews https://www.linkedin.com/in/meetjenmatthews/

Remarkable Speaker:

• Mark Buffington - https://www.linkedin.com/in/bipmarkbuffington/
• (Alternate) Mary Ritz https://www.linkedin.com/in/mary-ritz-phd-934a699/

[Jennifer Matthews]

Hello all! I would love to know how the "shift to online" has changed your business model, if at all? Have you found it necessary to "trim fat" from your business model? If so, has this benefited your business? I'm particularly curious to know if offering fewer products/services can lead to more business.

[Paul Terlemezian]

Moving online with this conference has saved money for Georgia LEARNS related to providing food, name badges, handouts and facilities. While this "fat" was trimmed it also saved time for Georgia LEARNS and those who participate. At the same time I began to wonder - since it will be easier to attend - might it also be easier to leave? While it might be less expensive to offer and to attend - how might it be "different expensive" to create more value for others?

[Paul Terlemezian]

While fewer products might or might not lead to more business - I prefer a different question. Would offering less value lead to more business?

A restaurant that charges a premium for its capabilities (including service, ambiance, and prestige) might have offered curb-side pickup for the same (or lower) price. Did this lead to more business? Will this be sustainable?