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How to write a Business model Canvas
What is a business model Canvas?
A Business model Canvas is a tool which explains how a company creates value for itself while delivering products or services for customers.
9 blocks
1)Value Proposition: This defines the product or service offered by the company and how it solves a problem or fulfills a need for its customers.2)Target Customer Segments: Identifying and understanding the specific groups of customers or markets that the business aims to serve.3) Customer relationship: What kind of relantionship and with who do your customers have with the brand.4)Distribution Channels: The methods and channels used to reach and interact with customers, delivering the value proposition effectively.5)Revenue Streams: How the company generates income through various sources such as sales, subscriptions, licensing, advertising, etc.6)Key Resources: The essential assets, infrastructure, technology, and intellectual property required to deliver the product or service.7)Key Activities: The primary tasks and operations necessary to create and deliver the value proposition effectively.8)Key Partnerships: Relationships and collaborations with other entities that help the business operate efficiently and expand its reach.9)Cost Structure: The expenses and financial requirements associated with operating the business model, including fixed and variable costs.
WHY Should I write a business model canvas?
Creating a business model canvas can be highly beneficial for several reasons:1)Clarity and Structure: It provides a structured way to visualize and organize your business concept. The canvas is divided into key elements of a business, helping you see the bigger picture and how different components interact.2)Identifying Opportunities: It helps you identify potential gaps, opportunities, and areas for improvement in your business idea or existing business model.3)Strategy Development: It assists in developing and refining your business strategy by forcing you to consider various aspects such as customer segments, value proposition, revenue streams, etc.4)Communication Tool: It serves as a visual communication tool. Whether it's for internal team discussions, presentations to stakeholders, or pitching to investors, the canvas provides a clear and concise snapshot of your business model.5)Risk Mitigation: By analyzing each section of the canvas, you can identify risks and uncertainties associated with your business model, enabling you to create strategies to mitigate them.6)Resource Allocation: It helps in allocating resources effectively by outlining where resources should be directed to maximize efficiency and effectiveness.7)Iterative Process: It's a flexible tool that allows for iteration and adaptation. As you gather more information, insights, or feedback, you can easily update and refine your business model canvas.8)Focused Decision-Making: It helps in making informed decisions by considering the interplay between different elements of your business, ensuring that decisions align with your overall strategy.In summary, using a business model canvas like the one offered by Canva can streamline the process of conceptualizing, refining, and communicating your business model effectively, which is crucial for the success and sustainability of any venture.