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Tools, Tactics, & Technology are not the answers you need

Three of the biggest challenges facing your business model are also three of the most frequent topics found at a conference. It’s time to put these into the box they belong in and step away to look at the bigger picture. New doesn’t equal valuable and potential certainly doesn’t mean you should buy it or even try it. 

“Too often I see people latching onto technology because anecdotal information is presented to say, ‘If you just get a single deal, this will make it completely worth your while.” – Jeff Turner
While tools, tactics, and technology could all be valuable to your business at any given moment, it doesn’t you mean should try them all.

So how do you know the difference of what’s worth trying and what’s not? By placing the content before you into the proper context of your actual business model. More often than not, tools, tactics, and technology are simply key resources, activities, or channels within your business model. The most important parts of your business are still missing. Mastering customer segmentation and value proposition will help provide context to the tools, tactics, and technologies needed to properly design your business model. It seems the real estate industry is consumed by shiny object syndrome.

It’s time event organizers asked better questions instead of providing answers to problems no one needs to solve. Enough of the show and tell, let’s just sit down and work together to make something meaningful. Where do we start? By asking the right questions. At RETSO, we required all of our partners to explain what problem do they solve for the real estate industry? We’re going two steps further and asking, What key resource do they provide? and What key activity do they perform? We will continue by asking attendees even tougher questions, such as what bundles of products and/or services are you offering to each customer segment your business model serves?

When will the real estate industry stop the cycle of latest tips and greatest tools?

At RETSO, we’re stopping everything on April 4th. From sitting still, we will work to methodically build your custom business model that will enable you to avoid the distractions and noise. You will leave empowered to describe the rationale of how your business creates, delivers, and captures value. Using a method that has been applied and tested around the world and is used by organizations such IBM, Ericsson, Deloitte, NASA, and many more, we will craft a blueprint for your strategy to be implemented through organizational structures, processes, and systems.

The starting point for our workshop style conference this year will be to establish a shared understanding of what a business model actually is and how do you go about designing the optimal version for your future success. From there, we hope not only to empower you to make a difference in the world but also to be able to challenge your fellow doer by asking the right questions based on the shared language and understanding of business model generation.