Business model Generation - STEP BY STEP GUIDE
The Business Model Canvas was proposed by Alexander Osterwalder based on his earlier book: Business Model Ontology. It outlines nine segments that form the building blocks for the business model in a nice one-page canvas. You can find a detailed explanation in his bestselling book "Business Model Generation".
Business Model Canvas By Alexander Osterwalder & Yves Pigneur is an expertly written book. With the collaboration of so many practitioners and academics, each page holds information that any entrepreneur or business leader would benefit from knowing. This is a must for any entrepreneur looking to make a change in the world.
⬇️Business Models Canvas Examples and Checklist. Join TheFirstMillion on Patreon to get access to this post and more benefits:
/ 33319075
⬇️Support my channel if you like my video
/ thefirstmillion
📧Email Subscribe to weekly updates by email http://eepurl.com/gGzYUL
Business Model Canvas book - https://amzn.to/2Zc4beQ
Value Proposition Design: How to Create Products and Services Customers Want (Strategyzer) - https://amzn.to/2ZfqIHm
What’s the Business Model Canvas?
The Business Model Canvas (BMC) gives you the structure of a business plan without the overhead and the improvisation of a ‘back of the napkin’ sketch without the fuzziness.
The Business Model Canvas reflects systematically on your business model, so you can focus on your business model segment by segment. This also means you can start with a brain dump, filling out the segments the spring to your mind first and then work on the empty segments to close the gaps. The following list with questions will help you brainstorm and compare several variations and ideas for your next business model innovation.
Business models enable you to create value out of new ideas. Simply having a good idea for a new product or service is not enough if you can’t answer some key questions about how to take it forward. Likewise, having positive feelings about doing good things for people is not a strong basis for creating a platform on which to deliver important services, especially in sectors such as development and social enterprise. Working with colleagues to give structure to an idea helps to draw out important risks and assumptions associated with that idea.
Together these elements provide a pretty coherent view of a business’ key drivers–
1. Customer Segments: Who are the customers? What do they think? See? Feel? Do?
2. Value Propositions: What’s compelling about the proposition? Why do customers buy, use?
3. Channels: How are these propositions promoted, sold and delivered? Why? Is it working?
4. Customer Relationships: How do you interact with the customer through their ‘journey’?
5. Revenue Streams: How does the business earn revenue from the value propositions?
6. Key Activities: What uniquely strategic things does the business do to deliver its proposition?
7. Key Resources: What unique strategic assets must the business have to compete?
8. Key Partnerships: What can the company not do so it can focus on its Key Activities?
9. Cost Structure: What are the business’ major cost drivers? How are they linked to revenue?
The Canvas is popular with entrepreneurs and intrapreneurs for business model innovation. Fundamentally, I find it delivers three things:
Focus: Stripping away the 40+ pages of ‘stuff’ in a traditional business plan, I’ve seen users of the BMC improve their clarify and focus on what’s driving the business (and what’s non-core and getting in the way).
Flexibility: It’s a lot easier to tweak the model and try things (from a planning perspective) with something that’s sitting on a single page.
Transparency: Your team will have a much easier time understanding your business model and be much more likely to buy into your vision when it’s laid out on a single page.
How do I get started?
The first time you engage with the canvas, I recommend printing it out or projecting it on a whiteboard and going to town (see below for a PDF). Fill out the elements for your business and then ask yourself ‘Does this make sense?’ ‘What are the most important linkages and components of the model?’
LET'S CONNECT:
fb.me/TheFirstMillionBusiness
/ thefirstmln
instagram.com/thefirstmillionbusiness/
⬇️Gear I use to shoot this video https://kit.com/bondardmitriy/youtube...