Reinvent your career using a personal business model what’s that? How can you achieve organizational fit using a personal business model? First up what is a business model?
A business model (BM) is what organizations use to answer the fundamental question – How do we make money in this business and explain the logic of how we deliver value to our customers at an appropriate cost. A BM can be based on 9 building blocks
(See the business model canvas by Strategyzer)
Understanding the BM of an organisation and how the elements fit together will show you where you fit in with your personal business model.
BM’s are not the sole domain of corporations every organisation whether for profit, non- profit or governmental has a BM.
What then is a Personal Business Model (PBM)? It is the logic by which an individual creates and delivers value to a customer and is compensated for doing so. It shows you visually as a one person delivery system, what makes you unique, different from others.
Treat your career like a business and create a model for your career.
Why the need
Why do we need a personal business model? The global workplace and its dynamics have changed, the economic downturn means that the stability and security we have been used to in advanced economies like the UK and America are no longer there.
It has been said that in the near future work will be done either by Temps or entrepreneurs’. Here in the UK we are seeing a rise in the number of zero hour contracts where organisations hire workers when and if they are needed. Work is now a series of projects having a beginning and end date. Contractors used on these projects must deliver results. Entrepreneurship is now more necessity – driven and not opportunity driven so a framework is needed to model our careers.
How many of us choose a career plan when we left school or university and are still in that job or career path today? It’s not a case of writing a plan and implementing it. Honestly most of us have stumbled into the job sector or profession we are in now. Today we need to hypothesize test and tweak our career development in the marketplace the same as organisations do, we are now in the age of modelling.
Many of us go from job to job in a search for growth and satisfaction in our work we need to break that cycle it’s not delivering the goods! Investors in people survey shows 60% of UK workers are not happy in their work the leading reason is a lack of job satisfaction. interestingly job satisfaction is deemed more important than pay!
USA is no better off the conference board of NY survey estimates 52.3% of Americans are dissatisfied with their work.
Worldwide 87% as Gallup puts it “are emotionally disconnected from their workplaces and less likely to be productive.” In other words, work is more often a source of frustration than one of fulfilment for nearly 90% of the world’s workers.
How can creating a PBM help us?
What are the 3 career questions we need to answer and how can a PBM help
(Bruce Hazen answering the 3 career questions)?
How can understanding our professional identity help us find satisfying work? What simple visual tool can we use to create our PBM?
Watch out for my next post where I will answer those questions.