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<aside> ℹ️ About The Business Model Canvas (BMC) by Strategyzer is an easy-to-use tool to quickly define and communicate a business concept and see all the different parts of it in one place.
It is a one-page document that works through the fundamental elements of a business or product, structuring an idea, and helps you understand how the parts of your business work together.
You can use it to: ✨ Design a new business model for your startup. 🖼️ Visualize an existing business model and communicate it in a simple way.
▶️ How to get started with this template
Duplicate in the top right to copy this template to your Notion account.
</aside>Key Partners are a list of other external companies/suppliers/parties you may need to achieve your key activities and deliver value to the customer.
This moves into the realm of ‘if my business cannot achieve the value proposition alone, who else do I need to rely on to do it?’.
An example of this is ‘if I sell groceries to customers, I may need a local baker to supply fresh bread to my store’.
The Key Activities of your business/product are the actions that your business undertakes to execute the value proposition for your customers.
The practical resources that are necessary to create value for the customer and achieve the key activities (actions) of the business.
The Value Proposition is foundational to any business/product.
It is the fundamental concept of the exchange of value between your business and your customer/clients.
Generally, value is exchanged from a customer for money when a problem is solved or pain is relieved for them by your business.
Good questions to ask when defining your business/product: - What is the problem I am solving?
To write your value proposition you can use one of the following formats:
*Adeo Ressi's format:* My company, (insert name), is developing (a defined offering) to help (a defined audience) (solve a problem) with (secret sauce/differentiation).
Or
*Geoffrey Moore's format:* For (your target customer) who (statement of need or opportunity) our (product/service name) is (product category) that (statement of benefit) unlike (competitive solution) our offer (primary differentiation)
To ensure the survival and success of any businesses, companies must identify the type of relationship they want to create with their customer segments. The bottom section of the canvas describes the finances.
A company can deliver its value proposition to its targeted customers through different channels.
Effective channels will distribute a company’s value proposition in ways that are fast, efficient and cost effective.
An organization can reach its clients either through its own channels (store front), partner channels (major distributors), or a combination of both.
To build an effective business model, a company must identify which customers it tries to serve.
Various sets of customers can be segmented based on the different needs and attributes to ensure appropriate implementation of corporate strategy meets the characteristics of selected group of clients.
Think: Who are we creating value for?
Mass Market Niche Market Segmented Diversified Multi-side platform
Your Cost Structure describes all costs incurred to operate your business model. Questions to ask:
Your Revenue Streams represent the ways your company generates cash from each Customer Segment. Questions to ask: