Workshops & TRAININGS
Business Model Canvas
Design and test new business models or pivot and market exisiting ones, with nothing more than a pen, paper and post it notes
Download your own Business Model Canvas below.
- Learn the steps to build your Business Model Canvas
- Design and describe new business models
- Innovate and pivot existing business models
The Business Model Canvas supports all round business models. Whether you're a new business wanting to create the perfect working model for your new product or service, or an exisiting business wanting to innovate new processes, the Business Model Canvas can support you and your team to plan and explore complete products and services with speed and agility.
You will spend equal time exploring your customer segments and relationships, finances, resources and activities, partners and value proposition.
The true benefit comes from bringing your team together to tackle challenges head on as well as brainstorming the possibility of what could be.
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Business Model Canvas Exaplained
What are the building blocks of the Business Model Canvas?
Value Proposition: your Value Proposition is the unique solution your product of service offers to your customer. The deeper you understood your customer, the more equipped you are to build an offering that your customers are dreaming of. It’s important to remember that here, you are answering your USP, that is what makes your special. I don’t buy Starbucks coffee at the airport because it tastes good, I buy Starbucks coffee as at least I know what I can expect.
Customer Segment: your Customer Segment is the essential to the Business Model Canvas as this is where you define your customers. Now, why is it so essential? Without a living, breathing, customer segment, your business don't have a business, you have a hobby. If you have more than one customer segment, you’ve got two options. You can either work on the one canvas and use colour to differentiate or you can fill out a seperate canvas. The better you understand your customer segment, the better prepare you are to move one and create a value proposition.
Customer Relationship: your Customer Relationship is the kind of relationship you have with your customer. You should balance what you want to deliver with what you are able to deliver. For example, if you are a one person show, I would not recommend a 24 hour customer telephone hotline, as you won't get a wink of sleep! Instead, try a 24 hour e-mail response guarantee. With this option you're managing your customers' expectations with the resources you have available.
Customer Channels: your Customer Channel is how you reach your customer. As in Key Resources, these too can be either intangible or tangible. Intangible being, e-mail, website or social media and tangible being trade shows or physical locations if you have a brick and mortar business.
Key Activities: your Key Activities are what you need to do every day to keep your business functioning. If you're unsure if a particular task is key or not, think 'if I were to no do this, would my business still be afloat a month from now. You'll have your answer.
Key Resources: your Key Resources are what you need every day to fulfil your Key Activities. They are the things you need to do the things you need to do. They can be either tangible i.e., a machine, exisiting customers, location, to name a few or intangible, know-how, innovation, software. There is an inherent relationship between your Key Resources and your Key Activities. If your resources don't match your activities you must invest in partnerships or financing that can help you achieve your business promises.
Key Partners: your Key Partners are not customers, rather strategic partners. They are people or organisations who can help you operate your business and deliver on your Value Proposition better than what you would be able to do alone. Your Key Partners can give your access to financing, logistics, achieve economies of scale or even reduce risk. Key Partners are particularly useful for when your do not have the resources to achieve the KPIs in your business alone.
Revenue Streams: your Revenue Streams describes the health of your business, that is the money that is flowing into your business financing all your activities. First determine, if you are working with a fixed or dynamic pricing model. Of course, there are many revenue streams available to finance a business, sale of product and services, affiliate agreements, credit or shares.
Cost Structure: your Cost Structure describe the money that is flowing out of your business. Depending on the structure or stage of your business, you may not recover your costs until year two or three. However, for other business it is vital that they are making a profit from "day one." In this case, it's important to optimise your process and turn your Key Resources into Key Partners to first keep costs low. For example, if you need a head of sales (and you don't take this role on yourself) rather than putting this person on the payroll perhaps they're interested in becoming a partner and to take shares in stead of a salary.