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Business Model Canvass

What is a Business Model Canvass?
The Business Model Canvas (BMC) is a strategic management tool to quickly and easily define and communicate a business idea or concept. It is a one page document which works through the fundamental elements of a business or product, structuring an idea in a coherent way.
The right side of the BMC focuses on the customer (external), while, the left side of the canvas focuses on the business (internal). Both external and internal factors meet around the value proposition, which is the exchange of value between your business and your customer/clients.
How to use it
VALUE PREPOSITION It is about the product or services that your are building,and solving a need or problem and satisfying the customers. It is not about your idea or product since the customers d o n ' t c a r e a b o u t y o u r technology.
CUSTOMER SEGMENTS
Customer Segmenting is the practice of dividing a customer base into groups of individuals that are similar in specific ways, such as age, gender, interests and spending habits.
Things to consider when determining your Customer Segments:
Who are we solving the problem for?
Who are the people that will value my value proposition?
Are they another business?
If so, what are the characteristics of those businesses? Or, are they other people?
Does my value proposition appeal to men/women or both?
Does it appeal to young adults aged 20 to 30 or teenagers?
What are the characteristics of the people who are looking for my value proposition?
CHANNELS
Channels are defined as the avenues through which your customer comes into contact with your business and becomes part of your sales cycle. This is generally covered under the marketing plan for your business.
COSTUMER RELATIONSHIP
Okay, so we know our Value Proposition and have developed Personas to better understand our Customer Segments or ‘customers’, but what is the relationship we have with our customers? Customer Relationships is defined as how a business interacts with its customers. So, do you meet with them in person? Or over the phone? Or is your business predominantly run online so the relationship will be online too?
REVENUE STREAMS
Revenue streams is the strategy the company uses to generate cash from each customer segment. How does the company make money from each customer segments? What value is the customer paying for?
KEY SOURCES
What are the most important assets required to make the business model work?
Four Critical Resources • P hy si c a l Re s o u r c e s l i ke comp a ny facilities and products/services
• Financial Resources like investors, crowdfunding , family, friends and financing alike
• Human Resources like employees, manpower or skilled forces
• Intellectual Resources like trademarks and logos of your companies and patents
KEY PARTNERS
Who are the key partners and suppliers needed to make the business model work?
Why you should find a partner?
1. Faster time to market.
2. Broader product offering.
3. More efficient use of capital.
4. Unique customer knowledge or expertise of others.
5. Access to new markets.
KEY ACTIVITIES
What a re the imp o rt a n t t h i n g s the company must do to make the business model work? Are you in a production? Are you in a problem solving like consulting firm or engineering ser v i ces? Or in a supply chain management? Or perhaps in an e- commerce platform?
COST STRUCTURE
What are the costs to operate the Business Model?
• What are the most important costs?
• W ha t a re t h e m ost ex p e n si ve resources?
• What key activities are the most expensive?
• What are the Fixed Costs and Variable Costs?
C o sts mu st b e l e ss e r t h a n t h e Revenue Streams for your Business Model to work.
Here's an example business model canvass for TGD'S EARTH ORGANICS - an organinc fertilizer:

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