Business Model Canvas by Michelle Finnegan-Davies

What is a Business Model Canvas?

finnegandaviesm — 2024-03-07 16:13:12 UTC

The Business Model Canvas is a strategic management template for developing new or documenting existing business models. It’s a visual chart with elements describing a firm's or product's value proposition, infrastructure, customers, and finances. It assists firms in aligning their activities by illustrating potential trade-offs.

How to Fill in Your Canvas

finnegandaviesm — 2024-03-07 16:13:13 UTC

Filling in a Business Model Canvas requires you to think critically about your business idea. Start by defining your value proposition: What unique solution do you offer to your customers? Then progress through the other sections, considering your customer segments, channels, customer relationships, key activities, key resources, key partners, cost structure, and revenue streams.

Value Proposition

finnegandaviesm — 2024-03-07 16:13:13 UTC

The foundation of your business model. It defines the problem you're solving for your customers and the solution you offer.

Customer Segments

finnegandaviesm — 2024-03-07 16:13:14 UTC

Who are your main customers? Identify the different groups of people or organizations your business aims to reach and serve.

Channels

finnegandaviesm — 2024-03-07 16:13:14 UTC

These are how you deliver your value proposition to your customers. Think about which channels work best for your business model.

Customer Relationships

finnegandaviesm — 2024-03-07 16:13:25 UTC

Define the type of relationship you establish with your customer. Consider whether each customer segment expects a personal, automated, or self-service relationship.

Key Activities

finnegandaviesm — 2024-03-07 16:13:25 UTC

The most important activities in executing a company’s value proposition. An airline's key activities might include flight operations, ticket booking, and maintenance.

Key Resources

finnegandaviesm — 2024-03-07 16:13:26 UTC

These are the assets required to offer and deliver the previously described elements.

Key Partners

finnegandaviesm — 2024-03-07 16:13:26 UTC

The network of suppliers and partners that make the business model work. Who are your key partners?

Revenue

finnegandaviesm — 2024-03-07 16:13:27 UTC

Your company’s cash-generating mechanism. Consider the value each customer segment is willing to pay for.

Social Enterprise: What is your Mission?

finnegandaviesm — 2024-03-07 16:21:03 UTC

Costs

finnegandaviesm — 2024-03-07 18:16:19 UTC

List the most significant costs involved in your business model. Which key resources/activities are most expensive?