Today’s WealthBuilders Podcast spotlights a new member of the Business Coaching team, Ray Patterson. He is the coordinator for Charis Business School and works closely with Director Billy Epperhart, and Karen Conrad Metcalfe, Assistant Director of Charis Business School.
The key focus of today’s discussion is the Business Model Canvas, which is a core element in WealthBuilders and the Charis Business School. Ray initially struggled to understand the BMC until the Holy Spirit opened his eyes to its true value. This episode offers a wealth of wisdom from Ray’s extensive experience, blending business acumen with a spiritual perspective on entrepreneurship and leadership.
Tune in for practical advice and encouragement to invest in resources that will help you succeed in business God’s way. Get A Supernatural Understanding of the Business Model Canvas
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Episode Show Notes
Guest Introduction and Business Background
- Karen introduces her guest, Ray Patterson, who is the coordinator for Charis Business School and a new WealthBuilders Business Coach.
- Ray’s role in the Business School allows him to be a mentor and a father figure to the students.
- Karen highlights the importance of the business model canvas and its popularity among WealthBuilders listeners.
- Ray’s career journey started with five years of active duty military service in the army.
- His role was in logistics supply at a manufacturing arsenal.
- Ray discusses his time at Lehigh University in an industry and government-funded think tank, where he worked on organizational change.
- His consulting business deals with strategic planning and organizational change, working with both military and civilian businesses.
- Karen mentions the need to expand the WealthBuilders Business Coaching team and how Ray was a natural fit for the role.
Understanding the Business Model Canvas
- Ray recounts attending the Kingdom Business Summit at Charis and his initial struggle to understand the business model canvas.
- He shares a pivotal moment when he felt guided by the Holy Spirit to unlearn what he thought he knew and open his mind to new insights.
- Ray describes how the business model canvas made perfect sense to him after this spiritual experience.
- Ray explains the centrality of the value proposition in the business model canvas and its connection to marketing and operations.
- Karen highlights the significance of humility and openness to the Holy Spirit in gaining a deeper understanding of the business model canvas.
- Ray shares his approach to consulting and business coaching, encouraging clients to be open to divine guidance.
The Role of Vision and Culture in Business
- Karen and Ray discuss the importance of having a clear vision and how it can guide business decisions and actions.
- They discuss the importance of a culture that can handle ambiguity and adapt to changing directions.
- Karen shares her experience in banking, where leaders emphasized vision and values to guide the organization through multiple mergers.
Overview of the Business Model Canvas
- Ray provides an overview of the nine boxes in the business model canvas, starting with the value proposition in the middle.
- He explains the importance of understanding the customer segment and the value proposition to differentiate from competitors.
- Ray discusses the significance of pricing strategies, whether in a red ocean (price competitive market) or a blue ocean (unique market position).
- Karen and Ray emphasize the importance of knowing the customer segment to save time and money in marketing efforts.
- Ray focuses on the customer relationships block, highlighting the importance of understanding and building relationships with customers.
- Karen and Ray discuss the importance of finding recurring revenue streams and leveraging existing resources.
- Ray explains the key activities and resources required to deliver the product or service, emphasizing the importance of control and influence.
- He discusses the role of key partners, which are resources that are not owned or controlled by the business.
- Ray highlights the importance of understanding costs and the simple math of revenue minus costs to determine business viability.
Conclusion
- Karen and Ray discuss the importance of investing in oneself and in resources like WealthBuilders to succeed in business.
- Ray expresses his excitement about joining the coaching team.
- Karen invites listeners to take advantage of the free business model canvas download and the WealthBuilders University subscription. WBUniversity Courses
