Business models. I’m not talking Kate Moss or David Gandy; I’m talking about the framework of a successful business.
In the same way an academic essay will have a plan, or a building a blueprint, a business will fit into a template. They will know who their customers are, what their costs are, where they get their revenue from and much else besides.
So, what’s that got to do with you, an undergraduate? Well, compiling a business model of the company you are applying to is a structured and efficient way to research them, and prepare you for interview. Graduate employers are desperate for more commercially aware graduates but being told "just get some" isn't very helpful. But, I have found a way to help you build up a picture of the commercial world.
The model follows this square found here in its full resolution.
It’s fairly self-explanatory: you need to fill in each block according to what you know about the company. If you can’t think of anything to put in a block, you need to get back to your research.
Perhaps you’ve got your eye on HSBC’s Spring Weeks – where do you think their revenue comes from? Where do you think they spend the most?
By all means, decorate your business models as you see fit, with coloured pens, labels and doodles, just like you would with revision notes - and they're a great cheat sheet to read on the way to interview too!
Sara is a Squared pupil with Squared Online, the digital marketing course developed by Google.