The Core Principles for a Strong Business Model

The Essential Principles for Building a Strong Business Model

Building a resilient and prosperous business requires a set of core principles that safeguard its growth and success. At Yorkshire Powerhouse, we were established with the mission to foster strong and profitable businesses, which in turn benefits the wider community by generating employment, contributing to tax revenues, supporting suppliers (often other small businesses), and boosting the regional economy. Let’s delve into the key principles that underpin a strong business:

1. Delivering a Profitable and Fulfilling Product or Service

While we acknowledge that you already possess knowledge about your product or service, it’s crucial to think creatively. Merely entering the market with a similar offering to your competitors, selling at comparable prices, may not make you stand out. We encourage you to explore alternative and disruptive business styles that differentiate your approach and provide added value to your customers. The more unique and beneficial your business style, the greater your profitability and the lower your competition.

For example, consider the transformative impact of Uber on the traditional taxi industry. By introducing an innovative approach without owning any cars, Uber became the leading global provider of taxi services. Embracing unconventional approaches can yield remarkable results.

2. Having a Clear and Defined Vision as a Business Owner

Without a clear destination in mind, it’s challenging to plan for the future, anticipate the needs of your venture, and recognize when you have achieved your goals. Entrepreneurs have varying visions and aspirations, such as growing the business and selling it for a specific amount, establishing a sustainable enterprise to provide a steady income, creating a business for future generations, or supporting a community, charity, or cause they believe in. It is essential to start by identifying your values, as they will shape your vision and guide your strategy in all aspects of your business.

3. Developing a Comprehensive Business Plan

A strong business requires a well-crafted business plan that outlines the strategy to deliver your product or service and realize your vision. Your business plan should encompass the following elements:

  • Understanding Your Customer: Gain an in-depth understanding of your target audience, defining their characteristics and preferences. This customer profiling exercise will help shape your marketing efforts. Focus on becoming a customer-focused business.
  • Overall Business Plan: Create a detailed plan that covers your business model, financial projections, market entry strategy, compelling reasons for success, risk assessment, and more. This comprehensive plan will provide a holistic view of your business’s operations.
  • Marketing and Communications Plan: Develop a well-defined marketing and communications plan that encompasses branding, sales funnel, communication channels, and sales mechanisms to engage both existing and potential customers.
  • Growth Plan: Anticipate future growth by planning for additional financial resources, personnel development, compliance requirements, and more. While it may seem premature, incorporating a growth plan from the outset is essential for building a strong business.
  • Systems and Procedures: Strong businesses prioritize the implementation of robust systems and procedures. These cover various aspects, including finance, invoicing, debt collection, client interaction, prospect identification, operations, and personnel management. As the business owner, you are best positioned to establish these systems, leveraging your understanding of the intricacies involved. However, remain open to feedback and improvements as your business evolves and involves more people.

By adhering to these core principles, you can lay a solid foundation for a strong and thriving business. At Yorkshire Powerhouse, we are here to support your journey towards success.

Building a strong business is genuinely hard which is why most businesses don’t do it properly. But this could also be why 18,000 business fail every year in Yorkshire alone … and you surely don’t want to be another negative statistic?

Blunt thinking on building a strong business from Yorkshire Powerhouse

Have you any questions?

Here at Yorkshire Powerhouse, we’re happy to help as much as possible – is there anything else we can do to help you, do you have any further questions or can we help introduce you to an expert – please let us know:

"*" indicates required fields

This field is for validation purposes and should be left unchanged.


I want to run a strong business but I don’t know where to begin?

I want to run a strong business but I don’t know where to begin?

Yorkshire Powerhouse – I want to run a strong business but I don’t know where to begin? Strong businesses rarely fail or collapse but they’re hard work

Disruption and Disruptive Business Models

Disruption and Disruptive Business Models

If you can develop a disruptive business, and if it’s truly disruptive, it will grow organically without further need for growth plans!

The GREAT Yorkshire Directory
LinkedIn SkyRocket Connections service

The GREAT Yorkshire Suppliers Directory:

Here are some more of our GREAT suppliers who can help you with your business planning needs:

Do you need some FREE planning tools to help your business?

Take a look at our download files by clicking this link ...

Would you like to receive more FREE business information?

Recieve our FREE email newsletter...
...just enter your email address here:

You have Successfully Subscribed!