Entrepreneur Conversations
The business a founder starts is often not the business they end up running
Prices, customers, products and ways of delivering change as an owner learns what actually works. In this session a practising entrepreneur describes a real change in how their business earns its money: what made them question the old way, how they decided, what it cost and what stayed the same. It is one account, with time for the room's questions.
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A business model is easy to describe on paper and hard to change once customers rely on it.
Most owners begin with a plan about who the customer is, what to sell and how to earn from it. Contact with real customers tests every part. Some owners find the plan holds. Others find that the customers they expected are not the ones who pay, or that the way they charge does not match the way the work is done.
Changing the model is a large decision. It can mean different customers, a different price, a different way of delivering, or dropping something that used to be the core of the business. Owners seldom say how they made that decision or how much of it was uncertain.
This session does not suggest that a change is the right answer, or that staying the course is. It lets the room hear how one owner thought about it.
What the speaker is briefed to be candid about
35 topics across 7 areas. Seven parts of the change, in the order it happened.
The Business as It WasThe model before the change.5
- Who the customers were and what they were buying
- How the business earned money, in plain terms
- What had worked, and why they kept doing it
- What they believed about the business at that stage
- How long it had been running that way
What Made Them Question ItThe signals.5
- What they noticed, such as customers, costs, effort or competition
- Whether it was one event or a slow build-up
- What they first did about it, before any change
- Who raised the question, and how it was received
- How long they ignored it
Speakers are asked what they saw at the time, not what is obvious in hindsight.
Deciding to ChangeHow the choice was made.5
The speaker describes how they reasoned, not what another business should do. A different owner, trade or city may reasonably reach a different conclusion.
- The options they considered, including staying as they were
- What they checked before committing
- Who they spoke to, including customers
- What they were afraid of losing
- What made them decide, and how sure they were
Making the ChangeThe practical part.5
- What changed first, and what was left alone
- Whether they changed all at once or tested a small part
- How they told customers and the team
- What went wrong in the transition
- How long it took to settle
What It CostIncluding what was lost.5
- Customers who left, and how they felt about it
- Money, time and attention spent during the change
- The effect on the team and on the founder's own work
- What they gave up that they were fond of
- What the old model did better than the new one
What They KeptWhat did not change.5
- The part of the business they held on to, and why
- What the customers still valued
- Skills and relationships that carried across
- Whether the original reason for starting survived
- How they thought about identity versus income
Looking BackWithout claiming it was obviously right.5
- Whether the change did what they hoped, and how they know
- What they would check first if they did it again
- What they would do more slowly
- What they are still unsure about
- What they would say to an owner considering something similar
What the founder prepares
- A short account of the old model, the change and the new one, in plain words
- The signals that led to the decision, and what they did with them
- One thing the change cost them that they did not expect
- A clear statement that this is one owner's choice, not a recommendation
What the room can ask
- How did you know it was time to change?
- Did you ask your customers before you decided?
- What did you lose along the way?
- How did your team react?
- Would you change it again if you were starting now?
How the session runs
The founder speaks for about fifteen minutes in plain words, avoiding jargon and avoiding figures unless they choose to share them. The rest of the time goes to questions, which can be asked aloud, on paper or in advance. A facilitator keeps the discussion on what the speaker did and saw, and can ask the first question if the room is quiet. Before the day, the speaker is briefed not to promote their business and to be clear that their choice may not fit others. The length and group are agreed with the host in advance.
What your students leave with
- A clear example of what a change of business model looks like in practice
- An understanding of the signals that made one owner question the old model
- A realistic view of what a change costs, in time, money and customers
- Questions to ask before changing how your own business works
- An idea of what to keep when other things change
- A sense that changing course can be sensible, and is also risky
Scheduled sessions
Nothing scheduled yet
Sessions are arranged with a college once a date is agreed. Ask us and we will find the right person for it.
A student rather than a college? See what is coming up, or ask your placement team to host this.
Hear why one owner changed how their business earns, and what it cost.
Tell us who your students are and what stage they are at. Sessions are free for participants.